The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-05-24


HaH*s asssssa nfAyit the sAsafs iss y shs ssn.aa
s~ssanH = sh* Asms AreFnrfassaar asii.
An OrEN lErTEk ~ sEcRETAR,
HMEkMAN.
TN. srhn EAermsn,
The New Yosh papers report thai yos
hare recently negotiated with The Syn
dictate In Wall street for tho salc ol
90. .Ooo. .coo of ll rcr cent fifteen ycA~
United States Government bonds, ths
interest and principal Of which arr 10 be
paid In coin.
Have yoa carefully and shounhsfnlly
estimated what this transaction will cost
thc people of this country
Tho interest on 90, ON. 900 of bonds
n per cent. for iiftecn years il &S3,.
10000. Al the end 81 the fifteen years
the principal win also have 10 bc paid,
which, with the interest, lays burden
of taxes upon the people amounting 10
On, 71O, 900 In coin.
Nov, what IL your object In doing
thisY
II II not for tho avowcd purpose 81
carrying ont the provisions of tho Hpc.
Gle Resumption nct II which you are the
author. and which You persistcntly insist
upon enforcing?
Ii Il mot a part oi your present pro.
gTammc Ia enforce tha. portion of this
not which authorizes thc withdrawal
md destruction VI All tho legal.tcntler
notes before JannMry next, that arc In
excess of sc,0O. 900, DOOR
Are there not 3i8, ,00O,O of such
notes still In circulation among the pco.
plc N their lawful money!
do yon not propose ~ take this
~. .Ot0. t,0O of the peoples money and
destroy it2
Have the people too much money now :?
Arr they not bur,lcned with debt, op.
pressed with taxes and impoverished
Tor want of sufficient money with which
IN free themselves from these burdens ?
Would not each dollar of tins ea6,-
OOD, 0OO which yen propose 10 dcstroy
sell In Wall street or any of our mar
keta for 0ll cents in gold
IN destroying this amount of the
legal money u the people. 10 You not
actually destroy more than $i5, do. 600
of money value In gold
II yon add this amount oi gold value
which you take from the people 10 the
amount which the principal aud interest
on the bonds will cost, does II not count
mp 20 about oi20, 22O, 900 In gold?
do you not propose 70 take from the
people this 4ld, ,0O0, ,0OO Of legal money
and issue notes ~ the national banks 10
the extent 1t SiO0 10 every $40 of United
States notes you destroy?
Are the notes of national banks ri any
more value for use m money than the
notea of the Government II the United
Htatcsl
Arr not the hank notes rctlccmablc In
the very kind Of money yon .leatroyp
DO yon not issue bonds for tho pnr-
pose Of destroying lcgal-tender notes9
Do not the people have 10 pay interest
ON the bonds, which interest would be
sawed II the legal money VIVA left m Il
isl
What reason can yon assign for de-
HtrOyiug the peoples money and forcing
burden of taxes upof them equal 10
3l2O. O00, ,0OO, other than for the purpose
of destroying the peoples money and
substituting hankcrs' money thereiorY
Arc you running the Government Of
the United States Tor tho sole bene6t Of
tho banks?
Please toll IN In what way the maaA of
thu people arr 10 l,c benefited by trans
actions of this kindi
ID Il To get our currency on specie
hasis that you make these expensive
changes
Will changing United States notca for
bank notcs aid you IN getting 70 such
hasia2
II hank note of any moro coin value
than grccnbAckS
Could you bring the paper circulation
ol the country 70 par With coin any
sooner II Il wAs ali IN bank notes. which
II not lawful money, than yon could II Il
WINS all In United States notes, which Ii
Awful money!
Does not the destruction Ut tho Gov.
crnmcnt money diminish tho volume u
lawful morcy with which the people do
their business and pay their dcbtsi
Have y0n been able thus far 10 put
coin IN tho placc of the legal. tender notes
you have .lestroyeslg
Can you put coin In tho place RI the
&iI, ,OOD, 900 II legal money yom propose
70 destroy between this anil tho lst of
January nextp
II not, will you not diminish the vol.
nmc of legal money just that Amountt
II you destroy that amount of money.
will II not bc \ fearful damage 10 tho
country, sending tens Of Thousands of
them into bankruptcy
Who Arc the parties who arc demand
Ing the enforcement of tAc Hpccio. Re-
sumption not for the purpose u grttin9
10 specie basis?
Who Ii II thAt u no exceedingly Anx.
ions 10 usc coin instead of RreenhAcks 7
II u thc woskingmcn of the country
In IL the busineaA men of the country
II u tho great mA&a of tho farmers Ol
the West Or tho manufacturers 0f the
East that arc asking for this changcl
Will any OF all of these parties de-
mand coin In exchange fnF tho e3O0..
tOO. laN that yon propose to redeem after
Jan. /, Is7Df
II they .lo, have you inn.le provision
for the redemption of all these notcs In
coin. when prrxentedf
In your examination before thc com.
mittcu Of the House you stated that you
d1 nx,A awsN1.rt ~ Il, &tfN1 ,.tns,1l -. srrx.