Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1878-02-02
AZ. To sum up:



Thus we find that during the seven
years named the government issued and
sold 81 ,S74 1876 $50 bonds, for which it
received greenbacks, worth in gold only
81, ,24S, 466, ,828 These bonds were pay
able in the same kindO OF money they were
sold for greenbacks; but when in 1869
the government gratuitously pledged
tself to redeem them in coin, it made
hem worth dollar for dollar in coin,
thereby giving to the holders of them
1926, 37O,922, ior which it had not re-
ceived dollar of consideration.
And this is not all, The interest on
the bonds from the beginning
was paid in gold; even through
the war, when the value of gold
in lawful money wgs $50 to $50, the
government paid interest at the rate of
6 Ier cent. in that cOin-this interest
being equivalent to about Q per cent. in
lawful money, and, including the exemp-
tion OF the bonds from tsxatiOn, to ! / per
ccat, in fact. 1t is submitted, then, that
tie public creditors have no right to
complain Of injustice when the people
simply demand that their bonds shall he
paid in coin that's, either gold or silver,
as the act of 1869 provides 1t is hardly
fair, after the government made the
gratu tous concession Of paying green
bsck b nds in coin, for the public cred
itOrs to claim that the further concession
Of paying them in GOLD shall be added.
BLAINE's BILL.
The bill introduced in the senate by
Senator Blaine, il in full text as follows:
A bill to authorize the coinage of silver
dollars for circulation, aud make the
same a legal tender and for other pur.
poses.
lie ii further enacted, etc, That silver
bullion may lie deposited at any coinage
mint or at the assay office in the city OF
New.York, for return in silver dollars of
--- grains standard silver at such rate
or plice per standard ounce of bullion as
may from time to time be fixed by direc-
ton OF the mint with the approval Ia
writing OF the secretary of the treasury,
and which rate shall correspond as OK
actly as possible with the market rate ;
and the Lullion thus placed shall in ad
dition to the other required coinage
authorized by existing Law be coined
without delay to the full capacity of the
mints.
Sec, ,. That any gain or profit arising
from the coinageot the silver dollar shall,
after the payment of the lawful wastage,
be covered into the treasury of the
United States at the close of each fiscal
year.
See. 3. The silver dollar herein author
lied to be coined shall be a legal tender as
by existing law in common with gold
coin for all sums up to and including So,
and for all sums exceeding 50 shall have
the right to tender in full payment and
the credit or the right to demand one
half the amount in gold coin and one
half in silver dollars,
Sec. 4. Fine or standard gold and silver
bars bearing the stamp OF any coinage
mint, or of the assay officer at New York,
shall be received by the assistant treas
urer of the United States at New York
for their stamped value, which shall be
their coming rate respectively, and coin
certificates shall be issued therefor by
the assistant treasurerin the same manner
as coin certificates are now issued for
gold coin, and certificates so issued shall
be redeemed by the secretary of the
treasury on demand, at the Office OF the
assistant treasurer at New York, in coin
or stamped bars of bullion deposited, at
his option.