The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1876-06-16

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NAY Ailnw IL ~seHsain 9Th ~
Asa tssth ard III . defense II the
legal tender this statement IL lnrree.
nstls. The right 10 essats : easseae,
" money and ~ establish The value
tAerof IA an inAlienatle attribute alike
u sovereignty and u self.rrss+rvatien.
Fer congress o. the courts 70 abroeass
This vital rrss oeative u sovereignty il
- sxslsde from the country. and
deny 10 ths people tho ne u Asy
rsssy except jsst - much - the
foreigner may ve~sAsafs 70 lend and
recall Il pleasure. This ID n irrefut.
able statement Of tho sass and 10 pseg.
naat with warning.
With entire safe ~ II may BE- stated,
that from 1919 10 1909, period 81
nominal specie payment. this country
has been In deb. 10 foreign people Il
IN sxtsns that r. ndera them virtually
The owner Of every dollar Of our coin;
and from such ownership. our expert
. has been that about every sever
years they have exercised this rigL. d
ownership BY such . drain of specie 4,
has caused such psrturbations in %,
nonsy market, and such eonvslsiona
among our productive industries .,
have produced the failure Of ninety
i've per cent. Of Ill engaged IN bust
ness during this long period, and ha'
thrswn into idlsnsss and dsmoraliza
tisn millions Of the willingly industri
sss. Tho published diary Of Amos
A. Lawrence. Of Boston, showed tha,
o. per cent. VI his immediate business
acquaintanoes had been unfortunate
10 u within tho capacity Of man, I.
imagine or conceive and devise . sys
tom Of currency that could produc,
more calamitious results Such yer,
and such must evsr b.. the inevitahl,
rssslts In ! debtor country, Of ex.in
gushing n Of tho vital attributes .
sovereignty. lsit II true, that.th
attribute Of sovereignty was sxtiuguist
I'd by : suicidal blow from the cor
vsntion that framed our Federal cor
stitution, aud that to rescue ! dsbto
country from ! money famine. o. ~
arohy. " chaos and civil war that ou
congress was compelled to attain n
public good through The usurpstion |
such attributes ~ would astheriss I'll
tissue Of loyal tenders From 1879 I
1862 shcrs WAS entire suspension .
spssis payment authorised by Law -,
sral times. and VA universally !,
ceptea ~ the exercise Of \ JUS. an
necessary authority of the suprsm
power u the Republic. Surely .
authority that could thus interpose an
vindioaie Ne debtor class IN their r.
fusal 10 pay specio debts In specie
and that could GEORGE the creditor 1
take 10 paynleas such money " otLc
things . tho dsbter class aud tho pu b
ls accepted ~ currency. and tha
could p~rotract sssh ; stats,,of things /
the time Of tho total cancellation u th
debt. or until that supreme lAw,-th'
public good-syerywhers acknowledge
"a should render il convenient for ID
Debtor class to pay, must suffice I
justify tho issue Of legal tenders.
II the constitution forLids the pows
10 issse legal tenders. Il prsolsds
more d~ssisivsly the exercise Of suc'
powers - tho annulling of contracts
AID the suspension Of specie payment
By the banks. which In effect eonssi
lstss their notes tho money 81 I'd,
souatry ard 10 . more arbitrary pew
o. than the iAAus Of legal tenders b,
ths FEDERAL Government. violating
- such authorized suspension did. tn
sanstity Of contracts. and aiding i
s~sn6seating tho private property 0
citizens to satiate the greed u thes
monied corporation. 1.-The banks
- Al