, 1875-11-20
THE CURRENCY.

20 the AH't'f el fhf 1hEa'o |''oh"t
CWi,:At'o, Nov. ts.--fn al editorial Oh thn 9Th
lnar.. yot Huggost, ~ remedy for our flnaucia1
truubta. TINT lonu,epu crente "4.por-cant rnld
h,n,,. y In hc t,Loo l,y buL,era of orcnnharky
~ .t'.. ,'a.,s.', -. ,"Ny 49,, ,,.,e;s''
"ni these bonda ''bo n'al' leSal-sanaor' III t'ay-
meht ot Az dcbts hllti CONTRASTS nlado bnlore,
SAY, the It'll of July, 1876" sud tht tho legal
tcudor for all contrao,a nade alter that Iato
shall In tho coin f1,ari cash, and that ,,Is H.
,nr..o,,t ,,,,,, haa,t a,a ,' ar,, ...,,n,,, =.
per cent, Win tendency 10 ilclcaao tn d Tow
yuhrh to 10 per ceut."
Thcso bonds, having thirty yoare 10 run, wo,fd
At I'm and Of that t,mo Il, n.vnh,o N ro1a-,,,
""eh p". 't'lo objection can Do fnaao nue
year gold bonds 4. egal-senacr for ,lobts and
that H. thoy arc too bulky M = leenl.lendcr.
,.s .,roan,.a. ~. ha,, '."1us, 49,.
"Ao e'o''ua. M ,"i po"'s' anu o'o!h theso pois'a
10 "le LOT hfa dobt. would DO Obliged TO take
tliotn 1t par, ~ l,o would mol bs willing to dis
co,lf,t IL ror cont a1d tins my mn lint tuci.
u,ora aftcr nov;urr nm m ,,'aso ,o,,a ~ mr. r
,,.,,tf ..n,. :. - ,,.,.,, a.. Sr "" " p'
A''u e"a ''e' ''e'' III pay OIL my many htta
1huebtedhess: 10 Wpni have to caBh them
at tin brokers for Ii por cont Of. or for
whateyor eau act aud t,iua 1oao lila discount
wLeloaa had NV debtor raid mo In Lilo arnol,-
barl,a ho rnye Tor lilo bpntln. woun hava taken
tiIcm Mt ,,nr, aud naid od INV many smnli ,1ohis
with t1lrtn Mt nlld thus HNye1 lfs TINA md
nv discount on lilo gold honds Uy tLis nrocesa.
ue,t!ler tuo debtor nor creIitor hro bennIfte e1
hut thp crod,tur loBcs ,,uloss No Ii abIo to heot
md prefers Huopiug, lilo bonds Till tItey aro mr.
Or fal duo
Tho puIy ntlvantapo tbese honda l,ayo oyer
bills as legal-tontcr js t1o interest au prjncI-
1tai nre nnynble in polh and ma A rnfe inve meut
IL men at means WHO lroter bonds as au invest
ment but, to moor pcoplo tbpy would be- no t,so
wI,atcycr. II not an Injury. Ihe uiscount on
,,nuo t>n1. ID oa ,,,u, a ri q nm .nt,,ora NJ, tho
tltarount on upret(eeupbIs paper moncy and.
NJ leEuI-tonor tl.oy aro not t,ear 40 convenient,
sud. Oh this ecolo, are less desirable, Tho dis.
count on pIocntacka ts not counted in snlalj
tratlyactions but would bo every iimo on srcl,
bonds This would eiyo monoy-speculato
Just What they want; clianco to
han1lo money in bulk, Which bulk
,nnken It un,Yicldv 10 n,on OF small
] mea,,g, aud entirely l ok Of tho % reach OF % Door
men nnd givo to spcculators all the ntercBt and
dtaco,,nt, niId also CHANCES to corner such by
combining to run tho saIr,e tluvn to buy It mn.
and thpn then run II IN to setl,
III these bonds are not to DO roe,,)at 1ogtl.tep-
1ers, but issued only 10 certain oxtcnt for con-
ycnjenco of commerce. or tho law tuakca then,
par on tho atrcet BY Furnishing any o1e for dis
counting thon., and then gycH holders The or
]QetlGn can be r,ado pgaust them and tEoy
would, u,utlor such 4 regulation, bo tnkcp fpr
debt Whenever offered aid proferred, d,-as tf1oy
they eau be caBtod At tho banks for thoir full
face, nlints tho lnterost, uncss parties accopt.
lug bonds a. payment for contract or dobts are
willing to allow the accumulated lutereBt An
lilo i,to, eat ia pa ,ablo ann,ay, tho r,ou.allow
ug Of interest will not seriously aucct their le-
Of courre, abgoad or outside of the Unitod
States, tlcao bonds can only DO sold for what
they Rro worth IN q foreign market but tbeIr
| principal aud interest being gold, aud their
forced par Ut homs would tot,tl to make them
salatie, moro 10 than il they aro dissruated aud
uiBcOuutAd ut homo.