The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-07-13

were issued, and thereby changed the
meaning Of the words in war bonds, for
$4,000, 100000. 1t changed it against
the United States, and it added one fourth
to the burden OF the public debt
A few words will show this: When
Gen. Grant became president we had
three kinds of lawful money and legal
tender-three kinds OF dollars.
l. Treasury notes, or greenbacks, is
sued from war necessity, which is called
war money. That was made ''lawful
money, and legal tender in payment
OF all debts, public and private, excep:
only duties on imports AID interest on
the public debt Those are the words
of the act. I repeat, war money dollars
were made lawful tender in payment Of
all debts, public as we'll as private, .ex-
cept two-one due from importers Of
foreign goods to the United States, and
one due from the United States for in
terest upon the public debt. War mon
ey dollars were expressly made legal
tender for all payments but for customs
and for coupons.
2. Gold coins (gold dollars) of the
United States were legal tender in all
payments at their nominal value, when
not below the standard weight"
8. Silver dollars, weighing ALP 1-2
grains, of nine tenths pure silver and
one tenth copper, were also illegal ten
ders of payment according to their nom
words quoted are the words OF the act OF
congress, fixing the value in payment of
the three kinds of dollars.
Let NE repeat once more land ask you
to bear in mind, that when the act of
March IS, 1869. was passed, war money
dollars were legal tender for all debts,
public and private, except customs and
coupons; gold dollars were legal tender
tor all debts, including customs and
coupons, and silver dollars were also le
gal tender for all debts, including GUS
toms and coupons Before the act. the
war money dollar was the law Of the con-
tract, as we'll in the payment as in the
purchase of sthe five-twenties, or war
bonds. War money was OF equal force
with coin money to pay all debts but
two, and those two were bound together
as one, for the coin money required to
pay customs was set apart and pledged
by law to pay coupons.
But what was the obi ect and the effect
OF that act of March Is, 1866. 1t was
, TO DEMONETiZE WAR MONEY
| in its most vital part, as lawful money
, TO pay TIE fre-ttrenties, or war bonds. BY
doing that it changed the substance o
. the contract,not by striking out an.
| words, nor by changing any words IL
them, but by changing the meaning Q
J the word .'dollars" in them, and thereb.
adding one fourth to the value OF tn
dollars in which they wcrs TO be paid
!, in word, adding one fourth to the bur-
/, den of the public debt.
r The same acts which issued the wa
: bonds issued the greenbacks or wa
q money in which to purchase and to pa
Il them. The same act which authorize
: the treasury to receive $1,000 in wa
Y money in exchange for a $1,000 wa
If bond declared IN express terms that VI
&, 900 of war money should he legal ten
r der to the creditor in payment OF y "
G 900 war bond. In order that the Who'll
n world should know this the law require
= it to be printed in plain words on til
r back of every greenback. to be stampe
70 upon all the war money which the cree
h itors gave in purchase OF the bond; tn:
I'd it was the essence of the contract that h
IN should take the same money he loane
rs us in payment OF the principal OF III
re debt. But as to the interest upon tE
10 debt, there was another and distin'
n agreement that it was to be paid not
war money. but in coin money at 81
per cent; and in order to put it beyor
the power Of congress to change Il
basis OF the value OF war money after tt
creditor loaned it to us. and before y
paid it back to him in discharge of Il
IL debt, it was further enacted, and that
Of the very essence OF the contract. tn
war money should never be made plenti
than i; was when the bonds were ISSUED
that there never should be issued mo-
than $40O. 00O. 900 Of legal tender or W
money. Ii Rothschild took 800. OOO.O
OF our war bonds in 1878, what was Z
bargain, in substance, between him 81
~ the Uuited Statesp Legal tender not
w. or war money was, theE. worth not mo
than 60 cents on the dollar in coin.
first exchanged $50, 900 900 in coin mo
ey. or its equivalent, TOR 100000
in greenbacks or war money; and thu
he exchanged that for 100000 900
5-2os Of war bonds. drawing six per ce
,er interest in coin money but the princip
I'd, sum which he let us have. not in co
III. money. but in greenbacks or war mo-
n ey. was payable by law in greebacks
aw war money-payable in the same mon
he that we borrowed. Rothschild could Il
% plead ignorance OF that. tor on the ha
ofevev greepback he let US have for 0
ar, bonds (and he let us have no other mo
,ut ey) it was printed in plain words th
lal such was the bargain; but the natiol
les faith was pledged to him never. By Ia
lot to cheaper the war money of the CO
er. tract by issuing more than $4OO. 0O0.0
to in legal tenders or war money. I
ha. pledge was also part Of the contra
rly As vet that pledge has been sacred
~. kept. Indeed, Al the time of the passa
~. OF that act Of March Is. 1863. the amou
nd of war money was rednced to SS5,
ley ooe. 900.
en- Ash have said. when congress pass
IL / & IL,