The post. [volume] (Middleburg, Snyder County, Pa.) 1864-1883, 1878-09-19

Judge thurman, ~ IN favor o; tn
issno and maipteuauce in circulation
I of $66S, 100000 of United States
notes, without any pro, isions what
ever for the;c redsmtion or their con
version INTO coin. This issue is de
tipct'v made. and for Que .'is ;nci :,
aecs,, il. We favor paper money 70
deemat'e in coin, and 'he srges
smouus that can be ma,utr he'd a
pa- ~ita coin, WI 10 he favv-s u,
,.taoant Of paper issued d.; &c y by
the Government, not cUnver DE ~
10 coin, with No provision for .e'
demption, nad 81 an pmo.int t,l..t Dt
QUE ha, cla.ae; caa bs mpia'.' lie,
at par with colo.
| He says il is inst ~ easy TO main
tain S66S, 600, 900 q ,eenb. .css aS ~
With coin ~ is IS to neiu.aiu $780,
0o0.000 & seenbacks and 322, 900, O0(
nationc' ban. notes 1t pGr Nitl
coin.
/ But he forgot TO state that The
bank notes are payable in .een--
backs and not In coin. and that they
are 20 be redeemed by the banks al
their risk and expense, and not by
the United States. No coin reese. ~
is needed by them for such rede.lD-
ton. The issue Of these notos aids =
mr ltaining the United s. .tes notes
at par With coin instead Of obsi dci-
~ i,
the banks are requ', I'd to keep 10
the, vaults and in the TreaSr"y oi
the United s. .,s On ample reserve
in United States notes, to Iod, ,m
thei' notes, aud tins give to the
, United States no.es o use witch
tends to mn a IN them at par
tn coin. The whole br den now
resting upoa tho Cover ,ment is to
mriutniu resumption upon the
mount Of United S',tcs no. ~, aud
It's confessol'y IN be done by .
coin reserve OF i,om thirty to 70. by
per cent which we have on hand,
while, = the whole amor at Of circu-
la''ou was in U";i d state q
notes, no coin reserve nat cou'd DO
reasonably secured r'ld m.'ntG ned
would be sufficient for the pu .,.se
Of redemption.
Tho bal; notes TO not n any
sense the notes Of tho Gove-l lient.
They Q the noes OF p ,A.o corp
T.: ons Amply seo' on redeemed by
them, N; n med By them. o., y
they + to ret.eem them. 'he &C ~ =
ty ! at Oh DO app ID TO ",e'-
lenp on. tt = cspe cut ~ -
,or noo'ton Il .be c G. n.ioa
10 b .'sucu by !? sIte CO p,... ,as
OIL .b!es ~ . no >, ia ci c. :. ioa
ae !y ~ &c = much paper L,ouey
- % ii &c M y led ut p il coin
.s.I:A &C, ." no G ,vo. -
n7l.
B., p'', wou'l q coly >.ol..',
iie ,,;I s'pu; Of the iIan Avs, ~
dc, w!,,Ih bob Uni:od Staees bonds
. inotes issued, aud which i'm
Il exo. .ess'y tie amorat OF Ua.'ed
5 ; notes TO St00,OO0,0OO. II s.
wIr ! be olation Of the pubic
Il /, and word np' at once tho
pib Q c-oIi' al do ;1copce;vably
more ha a thal il - i ;,.ve profit |,
to tho Go"e,pnep
Tbs scheme of h;s encounters c.
re,'lv tho decision OF the Sup ems
Co, I OF the w. d s. 4 IS, md
woo ! no doub be he'd uncors;-
tutionnl. b ,snse It provides Tor o ,
very large increase Of United States
notes :. ;,ne Of profound peace, /,
where no scch e-gency as is con-
;emplated by the Cons;itu on o.
&c ,,siop Of ,ie Supreme C'r BE- .s.s
., jr7'I scch issr,.
:, v0' - a. once ve oas o. O. ~
.epce >Uhs whO:e sysSsm o; n1'oe'
b. =, which lave been the Il ~ 3
: 20 by wDich s o bGr.,s i'cvo !
',een proven I'd ''om .ss' ,g O. ,u. /,
IL 'ng not .s. I'he o. 'co'se the !
ration br ks re ,e,.s ON tle
Goveramen: who induces them TO !
mf ,.r;n sbeic CO. porais g. stence is
ne gu, Under Limits & ed by NV,
I, issue o, Gu atiig no Tfke
lis f. fom taem and they world at |,
on's cease. without exception, 10 bo
national banks, end would be o.. +;
gsr,zed gain, as before the W.T., /
Into State bap',s, With such powers !
.s any State might give them. The
newt able result OF such Q poicy
world be to revive sYaia che system
Of S ito ban'.:, N,Sbout any common
u .go zl''ou, wiahout any securi,v |
FOR .he' notes, upon such te' rs rs
anv S 20 m ah. p ESQ be, and thus
~ the evils OF oil STATE benk money,
wh'ch Tho people e. .,s'ieuced before
the Wa, vi. .ecc: eya'n Nearlyc
geue,a.,on has pessed since TIE N
con. dous sys an OF pcps, monev
which ez.si,l .;o:e the wa. was
swep. away by tire nation banking
act. It tjss''s to ST. that he min.
~ done to the pe,p. o 0f tie Uniyed
S = - b. sl,e rri'r,e Of these 6ar's.
by the r noe c'a vs,ue OF their pape-
moaey, by lis Limited lcosl circu'a.
ioas d by successful cour;ei 'eit-
irg VA aooca''y 8, seter than the .
OF the en-, 0 nati0pr' bank
o''cn at;o, Of the U,ited S Is. !
Person. 'y fsve but little .iu'eT-
ea5 10 or feeling Tor national bauls. ,
Eat 'or the benefits derived from