Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-09-11
NEW SERIES--VOL. 10, NO. s.

90 aaS ', These notes tbo, :,
50 ana perforla. saw U1's tbat .pen ,p promise o
hen they qU arc not 10 statelss tho prom, oe o'
is7J' ( 7an sto,, individual S,r' or IN law er
bic in what payable on oGdoraslo1, demseS1, su
are coins or dollars wood, g. B&T m sn
pcs ss 70 pay on demand payS2p,, Paya. pr
sv ,ay ,o %aw pay yoon,d on demand. Pon,s5ssy oul
rrency, and IS lae e of mSRy ffi'fsoaes oy e. 4,
'hich the useiof an expensive stand az az
I'd may be spared by the substitution, ;.
s a medium Of exchange, OF puolic OF p =,
riyate credit. 1t is safe and conven- u y,
,nt as well a. economical, as long as u
b,truly represents he standard, by o.
Its ns' value orEy nature it s: s;ns ss0in it
commodities dss depot OF purcauII'ns UaII upon tie e
Of the cosnn-.Yit in the
ability and intention OF issuefs to re.
deem it as upon the amount issued.
Coin, on the other hand, possesses pre-
sent, actual intrinsic Vaiue, y yoa ~
merGte ron NE pound oe'gNl me Paone .t
marx, Wa'cn aiestS es 'yiyo'H'sy 2 - I'' y.
Standard, u s''n Ne.gas g,e san'e @ 70 S.., oe-
lore' 90 you may "uoe ~. mug. ~, j'O%'
Me com, yes ''s Vdeue IeD.e'"'' ~. ~. y'',
hoWeoT, me SuPe'Se'tP.tyn y.ons ~
pieces g PaPI az" ~, no''.'y ,e"o.N
mey gre WV,uleSs; ! nc stamp ys s.o
com Is reahy ho.n,hg pue c ~, .'.saso .;a,o
Rl the welght anu ilneness Vi enas P.soo
notsne uos'in'n1ne n, suai@a.e n..eo,
TO deliv.ou ou. lhis-'n"neI u ny so9s'a
change forVnlan' M NJ ,,o,,,or ~ | of ran,la
ting its value Ca. nv o"s ,ond 80 sa
claring that in law. oortain rnmber
of one coin shall be deemaJ All ,ho eonivo.
lent of another OF different depomi.
nation. In the market unequal val.
ues cannot be made equal hy law. Con
gress has no power to enact how many
bushels of wheat an eagle SHAH ex.
change for, and II they had and should
make the experiment, the act, like all
attemps by government to change the
laws OF value, which are natural laws,
would be futile.
The legislation Of Congress upon this
subject recognizes the difference be-
tween these United States notes and
coin, and that they are not of equal
value.
The act before US (Feb 25, 1862, re.
quires duties on imports, and the in.
terest of the public debt to be paid in
coin; and provides that the notes ashall
be received the same as coin dttheir par
palue. in payment for any loans that
NAV hereafter be sold or negotiated by
the Secretary of the Treasury" So by
the act of March II. 1862. the Secreta.
ry of the Treasury Is authorized to pur.
chase coin with them at such rates and
upon such terms as he NAV deem most
advantageous TO the public interest
And the act OF March 3, 1868, prohi.
bits the loan of currency or money on
the security of gold or silver coins OK.
oeeding in amoSnt The mar ralue Of The
coin pledged or deposited as security.
By the first of these acts, coin is treat
ed as the standard by the last paper.
The one speaks of the par value of the
notes, the other of the mar rdlue of the
coins
If tho word coin has any more zen.
eral or fiquratiye sense in the phrase,
10 coin neneu than that | have ASSIGN.
ed TO il, Il must be held 10 have the
same in other parts of the article In
foreion coin will he included FOREIGN
naner money and Congress NAV regn.
Iate its value and make II n LEGAL ten.
der They NAV thus treat notes oftbe
Rank of England and France Austrian
and Russian government monev--but