The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-09-28
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futv raHlisrsi.
II surh dangers arr rally imp~n,iine
~ rannuA dirr.l ihrm l,s alssiinatrl,
shutting onr eyv~ ~ thetn. INDEED, H.
facv danger tvArlsrrly IL uftrn W sliM~rn
the why ta honnrahls avert ID Let ~,
ti,rrcfurs. l,~k nj thc situation cnhli,lly
anil even hopefully, Isn't MT with rlc~.~l
cs.s nor avrrt.sl fnce. Fur, m yun will
s.c l~turr conclude, think thers
lu~rring clou.t~ ran hc ,lisl~lltd with.
ont slishunor.
Whcn thu grccnlmrkH wrrc iawn~l
triple methul u redemption WAS cpn.
tcmplatssl. We expected ultimately IN
way them nt our option In either RnlL rr
silver coin specifically rfcrrsl to
In the tenth article VI our national con.
stituticu. Bnt. thc cxigrncics of tllc
wnr against tlc relNllion preventing
this specie redemption at TINT time, ~
voluntarily printed On tlrir hackS that
they might IN funded by tho liol,lcrs IN
= national bond which, will, itx proposed
q PR cent. interest. wan approximate.
hut not quite equal, 10 coin In vmlne.
subsequently,, Mr.. Chase. ~ Nerrcssry
III the Treasury, dcsiring IL sull bonds
lMaring hut s per cent. intcrrHt (the
lO-lOtl ut par In thcrr grecnbnrka, lir
asked Congvss to withdraw thc pr,tier
ot funding them In Il u Per crMt. lnnd,
and Congress ~ enacted. Thus, after
the time ilxcd IN this law. thc privilege
~ fnnd these Errcnbacka iMto bond
terminated.
This al,rognleyl onc III the three ogipi,
nal altrnlnt,,snn ultiui'Hnf redemption,
hut lift them payable IN either gnld or
silver coin, whenever thu Government
should lN able thus ID rnlccm them,
Ia is13 tirom which w
date our hard timcsl. without II single
petition presented ~ CnngrrsA. and
without any previous discussion 0f the
question before the public. In ANY state
~ district ~ tho Union, North Or South.
East or West, mud, m II turns out, with
tin people generally ~ unnwAr, III what
was lcil,R dome IN tl,ay werc III what was
occurring In the cabinet councils ni
China Or Hinm. silver WIN .lrinunrlixe.l.
Aud then. The redemption III bonds ur In
silver having hren nhrogate.l. the only
redemption when the ,lntc III resumption
arrives must le in goll exclusively. IL
enable thu Government thus ~ redeem
large powers nrr given ~ thu Secretary
of the Treasury ~ veil bulnlA for gold
aud thence, II. | have sai,l, II may III
puksihle, NJ fur IN the Government ii
concerned, Ivy thr exercise III the utmost
of these powers, ~ redeem these green
backs In gold.
hut thu people realize. and with the
Ha.l,lcst approximations. TINT the rcslemp.
tiun III TIM Government In hy I'M means
tl,c contamination III resumption. Thes.
ElOO. INN, ,OM II grrenhanks are not
lithc of Whit will bc payable IN gold In
about year and thirl from now. lse-
sumption, under the laws in they now
exist, means gnll payment for all debts,
not only by the Government, but hy
AtAteH, counties, cities. hunks, railroads,
merchants. mechanics,
farmers, all, hotn rich and poor, both
corporate md individual, from tho high
cst ~ the lowest.
Far h. II frum mc ~ la An Alnrmist,
for ! nm naturally uvcr.rangMinc and
hopeful. hut, besides thu 47tA,, I'M, ,tNAl
III grtrnhackn mud national. hank mOtes
payable In gold. VIZ hnvc oNtjO. NM, ,tkkO III
loans, made Ivy the hunks to their cmA.
t0narrw. ~ hc collected hy them in gold,
Mnl over ttIDl, ,Ot)O, NM III deposits ma,lo
with thc national hAMks, and still
larger amount with Tho savings banks,
that will alno bc n,able In gold. All
mortgages, xnch large proportion of
which have fallen dne. but Are continued
on pnnctnal payment ot interest, will all
lc payable In gold wlWn TINT Nrw irAr
.iny cOmcH. cnnnut correctly enti.
mate how many hundreds II millions
Nrr ont.tending II this Kind ~ hl,lrht.
elncss. And. besides these, must he
added what no financial expert il allie ~
estimate all Tho debts from ncighlor 10
neigllur, irum customer to merchant,
ur grocer. ur tta,lrnMan. except thohn
under i've dollars. nrr III bo .lNml,l.lalllr
and payable In gold. ! exclude trom
TIL. calculation tho ri ,tithl, INN, ,ftDOO III nn.
tional bonds, tho e1 INN. NM, OtlO of mn.
nicipAl bonds, thr o;i75, ,0thl, ,O4M oi httc
bonds. And TIM -. .OtNl, NNl. .ON " rnil'
roA.l bonds. These last ~, 5,OttD, I'M, ,uOD
VI obligations arr NEST Of them ON time,
and not yut duo. Hut thc four Or five
thousand millians have prcvioualy al.
lu.led " will hc collected In gold. or its
after the New Years day IT
Ism.
A thr payment of all this vMHt In
aan bc cnforcd hy law In
one kind of COIN exclusively, ut which WI
have but AtNnt o4tN,. nm, ,O(Oin The whnlr
land. twothir.ls u which amount Ming
nrsslol for ihr payment u dntics il
drawn steadily toward the sea-
boArsl, ita ynlnc,as compared with every.
thing elsc. IL ~ course greatly m.
hAncrsl. Anil thus this appreciation ~
Tho value u gold explains fully tho ,ic.
prcciation III all either values.
-
4 MAn.llOrsc.
l.. Mrtarcini, tlie mnn.l,orse, IL 10 NJ.
inAr Ut brussels, in thu PLANE .lcH
ManruvrrH. where hc challenges nny