, 1875-03-14
THE NEW MONETARY SYSTEM,

their hanos. we plotes1 a6aA1ss ~ 40 t00
name OF every taxpayer OF COOK county.
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The NE" hoNEiAh1 S1siaM'
It's d1hco1t 10 treat Tue Proeeeo.ne' "
1he oae'eI.nu o'1' enN4o11' "1.i~1 - :.,,
eanlzeo tno Anoepenoen1 pai2' t. ,.aa.
SERIOUSNESS. 1ne pait5 may oo o44o ~ 49,
ITS centfA power III 1nuanap'n'
dweAs Its e1pectant cana1oa1e ~. euo i!ee-
ccncy. Ihe entire pia1oEm OF LIS p'n"y -
founded upon what Is stS1eo ne" "one-
tary system, which reaos as 1o11o"S:
Il ia the duty Of the Government to establish = =
monetary eys'9m ossou on .v . ~ nj. o,,r.
ent e % md all.nted to tho ndustri. and commercial
needs ot the county To this end the notes Of Ill Na
doual aud State nanta should be Withdrawn from eir
culnon eno papsr money sus W y ths
el.-t;or. ttbont tho Intervention Of nv system os
ban1ane corporations, which money ahan b. legal
tender in payment Of nl debts, public and private
duties On imports tnclnueo exeep' toa' "
~ te1a Of the 1.w creane It 1nnae payabe in
nst.ue MONEY: this money to be interchangeable ut
tbs option Of the holders with registered Government
oonds bearing rate o1 interest ao' o' es
cent PEI Anno"'
Iris system cootalns loui piopoa4e 20,
F1rst-A monetary system pasea on 'ne 1al'a ~
and resources OF the na1on' In na1"opy WI
the genius OF ths government Leaving
out OF view the genius OF the Governments cs
poetical rhapsody having no particular
meaning, we are to understand tha9 Tue 1e-
| sources and fa1th Of the Government are 70
be the foundation Oh which the system Ii TO
rest second-Ihh1 au oank-noIes are 70 q"
prohibited and "pnper money Issued oy
tbs Government o1recty 70 1ne peop1e,
Th'rd-Ih1s paper money 70 De l7sm
tender In payment OF a4 oeo1S' 1nclu"ug oo-
ties On imports, except IN payment OF SUCH
interest and psanc'pa1 Of inc poono oeoe ~
| Les becn contracted 10 10 palo III go1o'
fourth-Ihls paper money 70 oe interchange.
able for Registered bones bearing interest," Ct
the rate Of 800 per cent beiore proceeuns
to examine thls platform II Is wei 10 unaei-
stand the condition OF analfs 10 WHICH 1t 's 10
be applied
VIC have PUBIC oeot "neo, e3c4uans
the bonds issued to the Paclho hcl'1oaa CON-
panies, amounted Jan l, 1870, 70 @'2'1'-
690,4Ss Ut this SUN S4s' ''ooo'ooo pore no
interest," 94f'ooo'ooo oofo . pef e<1' 144'01 -.
IN peper, and 81, 7l9, oo' ooo "as represented
in bonds. OF all this debt represented IN
bonds, the law creating It required inc inter-
| est aad principal TO be Fad IN coin, except
the $40 bonds Of 1662' winch were aotnof-
lied before the gEeenbacks we're 1nVenteo OF
made leGsnl teodcrs NO menuon OF coin was
made in the 1aw authorizing their 1ssue' BE-
cause nothing but CON vas then knoVn 70
the law. Of the whole Bonded oebt' there
is none upon which there Is any ques-
taon Is TO the contract 70 pay In CON
save these bonds ot 1es2' OF ~h1cn
there wers IN December ns1 only
S169 100000 outstanding, end OF th1s sum
S35,O0o00o has been called IN since, leaving
only S139, ,oo0, QUO yet to De taken up. 1heso
are tie only bonds whose character "a gold
bonds, interest and principal, has not been
defined by laT. Admitting TINT these, by IN
act Of bed faith and violent construction OF
law, may bs lawfully redeemed IN legal
tenders, they form but an insignificant por-
ton Of the whole debt. The interest on
them must bo paid in gold, because the green
backs have never been legal tender IN pay
ment Of interest
The new monetary system IS to DC app1ed
to this condition OF things Having Abolished
an other forms OF currency, 1t requires the
issue Of lesal-teader United states notes o.
rect1y to the people. u course the people
who receive these notes must give something
in exchange for them They must surrender
their bonds, or they must render service or
exchange property for them The ordinary
expenses OF tie Government ere @1oo,oU'ouo
q year, exclusive OF interest on me oeot'
and these We suppose are 70 90 pa'a Win
paper money. The Government 1s also to
receive them IN paymont OF duties On imports
IN place OF gold. N sho1t' Inc ne" system
substitutes what II COILS paper money 1or