Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1877-10-25

taxes, but that state or county may
require taxes to be paid in coin not
withstanding the legal tender act (see
Land Go. VS. Oregon, U. S. Supreme
Court Reports, Z Wallace, page I'D.
Again, the intent of the law maker is
to be carefully considered in con-
STRUNG the law, and it was never
limited in the long Congressional de-
bates on the subject, that one form Of
the notes authorized by the act should
be used to pay the other. Both bonds
and greonbacks are created by the
same act, both are evidences of debt.
To give one for the other would not
be paying the debt but simply chang
| ing the form Of the evidence
Each bears upon its face a prom.
Use to pay dollars" What was the
legal meaning of s9ollar" at the time
this act was passed? The statutes
settled that long before. A dollar
was certain number of grains Of
gold or silver of a certain fineness,
dnly eninod at the government mint.
The United States Supreme Court
has decided that the legal tender note,
or greenback, is promise to pay
"dollars," and that the dollar intend
ed is the coined dollar of The United
States. No other dollars have been
recognized by our laws as lawful
money. Banks VS. Supervisors, 18th
Wallace, page 3O). This would seem
to settle the question. But this is not
all. When an honest man contracts a
debt, he gives some assurance of its
payment, and provides for it. SO
does an honest government. So did
our government in this case. The
fifth section of the act provides that
"AR duties on imports sAaH6s paid IN coin,
or in notes payable on denaandin coin and The
coin so paid shall be set apart as special tuna
and shall be applied as .folloOs First, 10 The
paynaent IN con, of tie interest the bonds ana
notes of tie United States
"Secoad to the purchase or payment Of ome
per ce,stun of the entire debt ofHe United States
| to be made within each fiscal year after the
| first day of July, 1862, which is to be set
| apart as a sinking fund and the interest OF
which shall in like manner be applied to the
purchase or payment of the dublic debt, as
the Secretary of the Treasury shall from time
to time direct"
Now this act of 1862, remember,
does not say that the bonds may be
paid in greenbacks, but, if bonds are
part of the public debt of the Unit
ed States it does say they shall be
paid In coin, for it provides for fund
of coin, and directs that coin to be
applied to the purchase or payment
of the entire public debt. Nothing
can be clearer than this act. 1t is
incapable of being construed, so as
to show an intent, at the time of its
passage, of paying the bonds in pa
per money. When the bonds were
first offered for sale, the Secretary OF
the Treasury announced that the
principal of the bonds was payable
in coin" They were advertised and
sold with this understanding. The
theory that they might be paid In
Greenbacks was first heard in 1867 ;
and was the invention of Mr.. Pendle-
ton, of Ohio, who in Congress de-
nounced the bill authorizing the issue
| of Greenbacks as unconstitutional.
He also was the first prominent advo-
cate Of taxing the bonds. An aspir-
ant for the Presidency and dema'
gogue he imagined there was enough
ignorance and prejudice among the
people to make these theories popu-
lar. He failed, however, in his at
tempt. In the national canvass OF
1868, these issues were thoroughly
discussed, and the American people
by an overwhelming majority, reject
ed the Pendleton heresies, of which
Greenbackism is a surviyal,a unwise,
dishonest and dishonorable. Gen.
Grant was elected on platform de-
nouncing such propositions as involv-
ing an act of national bad faith, and
as reputation, only thinly disguised.
The following winter, the subject
was extensively discussed in Con-
gress, and declaratory act passed af-
firming the intension of the Govern
ment to pay the bonds in coin, ex
cept where payment in paper or law
full money was expressly authorized
bv law. This act was sent to Presi-
dent Johnson within the last ten
days of his administration. He Meth
err signed nor vetoed it. When the
new Congress met in March, 1869
the bill was re-introduced, again
passed, and was the first law signed
by President Grant. In 1875, the
public laws of the United States were
revised and re-enacted in the revised
form. Under the title, "Public Debt,
and caption, "How to be paid" the
9Th section of the Legal Tender act
re-appears in these revised statutes
as above quoted, showing that in the
Judgment of the revising committee
and of the Congress that approved
their work, this section does ex.
pressly mean that the public deb'
must be paid in coin.
| Thus we see that the Judicial, the
Legislative and tho Executive De-
partments, have all passed upon this
question, and that the whole people
speaking at National election, have
approved and confirmed their decis
ion. To attempt now to reverse
that decision would be fragrant
breach of plighted faith, but especial
ly for Republicans to repudiate their
own records, and fall into line with
their old enemies. IN a mad effort to
destroy the Nations credit by the
substantial reputation of tho war
debt, would be an act that is diff
cult to find fitting terms to charac'
tirize. Do not be deceived you are
now invited to the Greenback party
to support the same policy which
in 1868, you rejected with righteou:
indignation.
WHY NOT PAY IMPORT DUTIES IN
/ GREENBACKs.
| Again it is said that the Govern
ment dishonors it's own money-the
enbacks-by refusing to take
them for import duties. But it has
been the invariable practice of the
Government TO take nothing but