Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1875-02-23

ce"tEdte ana C0hSoHddte property ana
P0'0er an the hands of the fev! Who are
the Sufferers? The Business Udn, MaRu,
Jacturer. Husbandaan, and LaJorer!
That the great mass of the people. and
among them, the astute business man, the
skillful and enterprising manufacturer, and
sturdy, thinking agricuturafist,s should patient
ly and passively accept the financial system of
our government, when it is patent, that it is
the actual cause of our business prostrstion.
is truly an alarming fact
will place before you the three classes of
credits and money, and their current value, as
acknowledged by our government, and trace
the cause Of the difference in Udlue, of said
money; its effect upon tie Ualue Of property; !;
as also the channel, through which currency
is forced to pass before it reaches the people
In doing so, l apprehend that shall be able
to disclose to you, and satisfy your sober judg-
ment that our national financial system is a
stupendous legislative trick
TIE q. S. Bond worth to>day 119 cents in
currency.
Gold worth to day III cents in currency.
Currency, at the mercy of the 'tBulls and
Bears of ''Wall street"
To make the trick, in this money dealing
clear to your comprehension, l must get you
first, to distinctly understand that all the cur.
rency which is now in circulation, is based
upon the U. S. Bond, which bond the gov
ernment is pledged to pay in Gold. Now if
this be the fact,-and every reader knows it
is,-that the bond is the pledge for the cur
remcy, and that, that bond is to be paid in
gold, why then should currency be of less
value than gold? 1t can only be so, for pur.
pose, and to serve party. The general gov
ernment makes and issues all monies, and
fixes the value thereof, and is its sole sponsor;
yet it toIer0tes and recognizes disparity in
said money! This is an anomaly in this-as
it is termed-vexed financial question.
The trick is in the legislation, done by
shrewd and unprincipled men, who have gotten
into Congress, and designc1Ly restricted cur
rency IN the payment of public dies there
hy deprecia'ing it. The legal tender act, says
it shall be received in payment of all debts,
both public and private, 'erccpt import dues.
and the payment of the interest on the public
debt,"-U. S. Bond. Now why is this parent
the bond, so much greater, than its offspring,
currency? for it must be remembered, that
currency is based upon the bond There
can be but one answer or solution, and that is,
evident, to benefit particular class of per-
sons, the bond holders who now receive off
of the people throngh the government an
nually. in specie, over thirty seven millions of
dollars, as interest THE interest on the en-
tire public debt, is over one hundred millions
OF dollars annually sum greatly in excess
OF the whole expenses of the government
prior to commencement of the war.
You cannot fail to perceive that the gov
ernment is first made responsible for the re-
demption of this currency through the bonds
which are to be paid in gold. then it is made
hU khiS iokI-, l..
it, in refusing to receive it in payment of inn
port d"es, and the interest mpom the qovern-
nlent bonds. The interest being paid in gold,
the bondholder sells it at an average premium
of II per cent, to the importer, he pays his
import dues. and adds this one-eighth to the
cost OF, his goods, before they are sold to the
consumer thus the consumer is made to bear
this one eighth burthen or loss,-suppose that
amount was levied upon all as a direct tax,
would there not be loud murmuriues and
vigorous resistance. The remedy is simple
and practical, let Congress at once repesl this
restrictive law-which was designed, and is
working wealth to the few, and depletion and
ruin to the maryland receive this currency
in payment of all its dues. and it will at once
eIecote currency to equality CiM its sponsor,
the bond and gold.
A brief colloquy between the Government
and People, may make this question plain to
you.
Government.-I have sold my Bond to A,
which is payable, both principal and interest
in gold, have also decreed to exempt it from
taxation, and further agree TO give him 80
cts additional, to the dollar, in currency, which
he is at liberty to loan to you dear people. at
a greater per centage, than you can possibly
make out of it. or withhold it, until you are
obliged to sell your products or land at his
price
People.-Who is responsible for this cur
Goverunont-My Bond And that IGind
you, to pay in specie.
People.-Can we paw cur debts. with this
currency?
Government.-Yes,a all. except import dues,
tie Bond aud the interest thereon. Z. ~ ~,
People.-Why will not the currency pay
the Bond and the interest thereon? for you
say, the Bond is bound for the currency, and
that We have to pay the Bond in specie.
GOvernment.-You ou do not understand this
subject, and did not desire that you should
Mr. A is great favorite of mine, and 1 desire
yOu should reward him handsomely, for the
confidence he has in my ability to pay him ac
cording to contract. Now to be honest, and
candid With you patient and forhearing peo>
pie, who have all this debt and interest to paw.
will tell you the truth, sold Mr.. A. these
bonds, took deprecated paper from him, for
them, and l felt under great obligation to him.
for taking them; I agreed you should pay
them in gold, sud IS there was not sufficient
gold to carry on the machinery or business of
The government, issued to him 80 cts to the
dollar in currency,-it is as good as gold,-
with which he could buy your products or
land when the price suited, or he could loan
to you at high rates of interest,-but that he
should not be obliged to receipe 1t IN payment
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