The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-06-29
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dsur rope anil uFss sssiHfs ~ II 8A
recognising ~ usssttr pee.a s. VII
NJ VI. .lesHstasiehs, afa istsal tAs
protests ~ did Nh Matthias Nv ,..l
III th~ Hcnss III Commons, aWl I.sasi
tray IN the upnsr iii I.nras, when
they nlunr IN i~In iiatsr'sh against
the ignorant nni rtet~l policy Ill
robert Peel anil Ricardo. who M,sf.
supported hS I'll. almost unnHinsns
votes u the lsstsls and Commons
aud MprlanttcL by tho dociiinafi.'~,
the money kings mil ,h. dali. rtess
Ia should le borne In mdnl shni III.
legal tender NJ the country " Vii. only
m~Nns II legal payment Thu, hnnk
notcs md bank deposits. a. we'll -
obligations III individuals, arr nll
debt AMI nrr payable IN legal tender
land that periodically, nnl III lea.i
onew on The average during each H..
cnslc. there has bccn In England AMI
In the United states Il general aiId
urgent demand for immediate ray.
mcnt I'm legal tender Of debts ,iue In
Guiding personal obligations ns we'll
~ hank notes md hank deposits.
There nrc people who lnnk nroi
hank notes and hank deposits ii
equivalent IN Legal tender. Mhrr,
they arr VI course promises - IN,
legal tender on demand. and SOM ri
10 remember that In 1887, and III
1881, demand was made, and suSp.n
sion cnsucd M It always will and al
WMys has casucd under like circnn
stances. In 1857 and 1891 both gols
and silver we're legal tender. III ISL
the silver dollar was stricken out o
tho list Of legal tender. The mnn
Mecrs Or the Treasury ri thu Unite,
Ntntrs propose, under the resumption
net, 10 require VII debts 20 b. paynbl
In gold. tiold To hc the only leH,s
tender after January !. 1879
In 1879 demand was nad. for pay
mont Of debts due. individual debt
a. welt IN debts consisting II WIN
arc called bunk deposits. The IL.
mAnd wins not for legal tender Mon,
III lN7A hut for currency including
bnnk notes. which mr. th.in~'ls,a
promises 70 pay legal tender. Their,
WAS not then sufficient currency I.
meet thu demand for payment
There II less currency now thur
there WAS In ls73. md no less deb
Including hunk deposits. II feman.
were miplc Tomorrow for eurrsne,
payment suspension would enane
il specie payments are established II
lK7D, ~ II proposed by thc rssninp
tiDn net. II III not nj all likely thu
payments In gold coin cnn b. lonI
maintained nftrr demand sets |,
for II In payment " NIL debts due.
After resumption comes sn-ren
sion. The Bunk OF England ilnall,
silver In lsa3. Two years later ia
mand for payment was made ind
fearful commercial nnd hnalhin
crisis cnsncd, md tho Bank of Eng
land WAS only enabled ~ avoid sus
pension ~ currency payments by III,
timely discovery ~ II box containing
l,OOO.ON ono pound notes.
Specie payment III MI debts IN I'm
practicable, II hMs been 40 proved b
the experience ri several generation
In Great Britain and la America.
In mechanics We abandon n mn
chine that proves itself 10 M I'm
workable by always breaking dow
when most needed; not no In iinnnc
--wc nrc engaged In preparing ~ r.
aunlc tho English systcm " iinnnc,
machinery that always hr"nk- dow
when brought Into fill operation,
IL ii practicable 10 haven rair.nt'
which shnll MI bc l.gnl tender whie
shnli liz available for thc payment ,
debt IL individuals or ~ the govern
mcnt--for customs IA well ~ 9th.
lucs.--wifhont discrimination, I'll
currency mny consist Ut copper, niel
al, silver. COLL and paper, nnd NIL
III equal value ~nnd II should all |
issued by the National Govrlnmci
and lm received rs the National uu'
eminent for NIL dues.
lf thu government issues II nick.
and by such issu. receives snl,
equivalent To five cents, when tin
nickel comes back tn the Gosefi
mont. 'h"''ph u contains only ~
nickel metal, ~ II Wa issued M iiv
cents II should bc recelvrdhy the i
A.icr az Ave cents, md bc n.rris.
for custom dues o. any other dues l
tho single nickel Or by The cnrt lon,
That would be circulation. Circnl,
tion Involves complete circuit frol
the isslcr md back Ia the i-eaer. q,
copper, nickel md silver coins nj
deprecated heonuw they hive not
perfect circulation, the uoseInmel
receives full value when II pn,a tlnl
out, but receives them hnrk uni.
discrediting and yeAnilonn condition
and Iii lIlAiird amount, Tho Unite
States note. the ''nrrrnbnrk." has III
= perfect circulation. ~ circuit
broken when II Ii refused for e,istoi
dnas. and when the government i.
f,iscs 10 redeem II yes. redeem II Il
bonds IA originally contemplate
In conclusion, LIT Inc shy TINT In ~