The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1875-10-22

bMFFNG sNW F1N0 lFsfaH wv e@W"F
III s%ars, |. srpssn We. actual -.
aemrssns ~ss,A eris kavs ss~~ Fss'
AM. ~ ,Arr. rressinas. rs~siys iscs.
1914. Aea isai Al all esAes simss
tshlt,y -shtes ,tsn ea. u .his,,-saa
ye.r) .haa ths Ass@mp, been &aas W
.hs hetasn n hank seses " tsalise
ssia N +ashanee far them, ths pre-
tense n sreeie payments would have
hsen demonstrated ! haaa lin the
common raslaaes II The arvtis ".
sam mpslonisss ~ the DAY. - lie" The
range ofissss " paper ptemises 70 ray
geld during .his period II shirss.sia
years, In tho old hay Ssa.e. ~as from
one and = half 10 eight and three.
quarters dollars I. ons dollar In gold
In the vaults. That n 10 SAY. ~ iss
best estate Tho specie haais hank ~.
tom of Massachusetts,. when !. ecmrre.
henasd el. 5uo. 900 In is.aes " bank
notes. might, II called upon. have
redeemed In gold a 1000, Or two.
shirds " such issues. leaving ths hold.
or of $500, 900 of la paper 10 look
for the redemption of their notes 20
she personal property u tho owners y
the banks for satisfaction. Al 10
worat cssate. the sysssn, with %. s.7tO,.
900 Of issuss, could. II called upon 20
do %, have only redeemed 10 gold
III, 900, 900. o. less than ons.clgth of
In lsauos, leaving the holders Of s7.-
7b0, 900 of ils notes TO look 10 tho lsr.
sonal property u tho owners Of tho
banks for satisfaction. II will bo per.
osivsd that tho specie basis sysssm. -
practiced N Massachusetts,, pcssssssd
scme very solid advantages 70 The mon
who Issued paper circulating notss With
tho promise 10 redeem them IN gold.
bu. with very little gold In hand with
which % rsdscm, For instance, In
1889, tho spscis paying q banker In
tho righteous old commonwealth Of
accumulated " borrow.
sd, II ho had sufficient credit. l00,.
900 In gold coin. laid Il away carefully
In his vault, and then proceeded 70
print es75. 900 Of paper promises 10
pay gold, and 10 lend them ~ his
follow citizens. Let 10 state tho bank.
sr's account " The and of Ton years on
The moderate baais u o por cent. ~.
.srsst. assuming that hs csnlJass ~iIh
bis busincss II isaalng paper money ;
general banking bus,nsaa wL.ss proAss
may hs fairly estimated 10 cover tho
expense of tho issua Department.
lnseteM on ss7s, 900 one year !. y pr
cent 45a 800
by 10 10 cover the psrlsd ~
Total Income o625, 900
f,sdae. 10 years. interest on capt..
sl--gold rsvsivs~- 4. . psr con. 10000
-+~~~~--~-
NJ. Income In ten yeArs ear. 900
~, e40. 900 per Annum, Oh IN invest.
mont u elOO. 900! l. Ii not aurpris.
ns tha. tho capitalists u Nsw Eng.
and clAmor for 4 return 10 specie lay.
nen,s! They rocollses tho period 10
lIisl wc have referred. when she bAnker
possessing $1,000 In gold wss PER.
ni..sd 10 practice upon the eredullty
II thu public ~ tho eAtent VI ~, 76O
i paper isaues, which hs might loan
il q per cent, and - make bic .OOO
y gold Yield ! MT inscrsat Of to9o
,sr annum. Tho crusade against
.resnbacks, sIngularly enough, com.
nsneea u The poius when they have
appreciated nearly 10 4 par with gold
Nhsn they we're wor.h only 20 csn's
- thu dollar they were not referred -
i 'dishonored promises. When
hoy had risen 10 o. cents on tho dol.
u they were nos dsnoupccd - print.
ID frauls, Even at u cents they
'xclssd no particular anlnoslty; but
shsa they touched Oh cents tho whole
rasns work u Tho specie resnmptionhldt
uttered shock. aud grcenbsoks wsro
InathsmatIssd ~ frauds. !" "dishonor-
a promises. and llss' 1hsrs ID
asthcd n this apparent madness. The
aonsy.tIngs Of The East never ses
,nsdvlsodly 1'hey wsvs content "
,lay o6 sresnbAcks against gold. ssd
yold against xrssnbacks. for ; dossn
'ssrs. while shs margin between vi.
10 of shs two was vide. There VA
'roas In y. Nut whom ths panic
truck Wall street aad yrssnbacks
vsu boarded until they Game within
'svsn pr cent. u srowdisg gold ous
i sbs msttss altogether. shs hasd.
money msa susnsd psls lsss sbs psper
lollar d shs govsramsat snd u ths
people should demonstrate its equality |
8ish The gold dollar. shs moAsy d
iistrasl. " Ignorance. snd espssqusnt.