The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-02-21
SILVER REORGANIZATION.

etizo silver claim that its passage would
be fraud upon the creditors of the ma
ton, who are entitled TO receive the
money due them in gold dollars, it may
be we'll to examine the question little
in order that the public may form q cor
rect and intelligent judgment upon the
measure. If the debt was created pay.
able in geld, then The fifth of the nation
is pledged 20 payment in that metal or
it's equivalent. Such, however, was not.
the case. for both gold and silver dollars
have always been, and are to-day, legal
tenders, aud debts can he paid in either
of them, hence all Of tho public debt was
created payable in either Of ttese coins,
and great portion of il Was oven pay
able in groenbacks. To show how much
justice there is in the bondholder's dc.
mand for gold, it may be interesting to
find out what was the consideration of
his claim against The government. All
loans before the war were upon either a
gold or silver basis, aud could properly
be paid in either coin. The greater part
of our debt, however, ia the late war debt,
and n ahow how much right the holders
af these bonds have TO demand goi6, tine
st. Louis Rc:,sbHcan hna roletnd the fol-
lowing figures, showing the. amount of
money borrowed by the government and
what it was worth in gold
A recurrence to the negotiations Of the
f7e-twenty bonds reveals some facts
which are both interesting and :ustruc.
tive ct this time. There we're several
Issues of thess bonds during the period
from 1862 TO 1868, inclusive--all OF them
having been sold Mt par for greenbacks-
each 81 900 bond bringing to the govern
ment 81 900 in grcenbacks. OF course
the gold value received fer them varied
with the depreciation of greenbacks--
the price Of gold ranging during the Pc
riod from 130 to $50. The frs: issue was
made in 1862, and was $50, ,982, $50.
They were sold at par for greenbacks,
worth in gold at the time $44,03O, $40
giving to tho purchasers clean profit of
6,95l ,80l. Tho next issue was $780,
937 800, in 1868. They also were sold at
par for greenbacks, the gold value OF
which was jbl0l 1896, ,o54-leaving to the
purchasers o clear profit of $59, ,096, ,696.
The third issue was 1881 ,292, ,250, in 1864,
the government receiving in gold value
for them $189,697 ,636-leaving to The
purchasers profit of mere than one-half
the amount, $l9l, ,504,6l4. In 1866 tho
fourth Issue was made -$279,746, 15O, for
which the government received in gold
value S208,2l4 ,090-the purchasers max
Ing profit of a71 $4,000. In 1866 tho
fifth issue was made-Sl24,9 ,9l4. 400, for
which the government received in gold
yaluo $88, 8,59l ,773--leaving to tho pur-
chasers profit Of $50, ,S32,627. In 1867
the sixth issue was made-$421, 1863, $50,
the government receiving for them in
gold value $3OS, 1913, ,50S-leaving to the
purchasers q profit of S118, ,254,047. In
1868 the seventh and last issue was made
.--$425, ,443, 800, for which the govern
ment received in gold value 9Sl2, 1926, 1923
leaving to the purchaseru a profit Of
.Sl12.61g, ,477.
Thus We find that during the seven
years named tbs government Issued and
sold $l,s74, 1886, 100 bonds, for which it
recsiyed greenbacks, worth in gold only
81, ,248, ,466 1928. These bonds were paye.
Bile in TIL same kind of none, they were
sold for-greenbacks; but when in 1869
the government gratuitously pledged it.
self to redeem them in coin, it made
them worth dollar for dollar in coin
thereby giving to the holders Of them
$629, $40 1922, for which it had not re-
ceived dollar of consideration.
From this our readers will see that the
government has already given 10 The
bondholder pledges which make his
bonds worth from twenty-five to fifty per
cent, moro than he gave for them, but
this was not enough for the rapacitr of
these gentleaen. Silver was then as
as gold, and was becoming ,no-e
abundant, hence they saw an opportunity
to secure an additional advantage by re-
firing silver from circulation. This
could not be done directly without a
change of tba Consultation of the United
States, and hence they quietly eecured
legislation whick stopped the coinage of
the silver dollar, we believe In 1872, and
that LEFT their bonds TO be paid in gola,
because there are, practically, no silver
dollars with which to pay these debts.
Silver dollars are still legal tenders, and,
II they coald be- obtained, would be pay
lble on oil debit, and hence all the dis
honor which could attach to the govern
nent for paying its debt in ailyer would
% the dishonor connected With coming
liver dollars ~. This lie no moro than
he dishopor III of coining gold dollars,
which is none at all. But It Is objected
hat the silver dollar is not worth as
nnen az the gold dollar. Of course it is
ios worth as much now that silver ia
demonetized, but If it is re-
;oined and brought agaiii into active cir |
:uiAtion asia legal tender for al debts, |
md mado the medium Cor paying the
lntional deDs, It would be inliy as yalua- /
10 a. gold. Tho tfuthis, silver was H.
nonetiEed 90 pToouce i corner il tho |
;old market In tho interest of the bond |
loldsrs; and If ito money value Is NOT re- |
tored the trick will bo successful, and |
he people will be greatly bardsned to |
< ( ace tho interest Of the pablo credit |
'rs, who will DO paid q handsome profit |
N their Investment, oven if their Bonds /
zero paid IN silver Of Its presens depre-
~. ;.:-.=s. FTis7s. FL 3 y. @ sS..rs
sTho conviction OF Anderson, one Of tie |
soard Of State Canyassers Of Louisiana, |
or forgery and perjury; in alssring the /