The Leavenworth weekly times., 1878-10-03

law, and the National banking act: retir
the bank notes, and substitute ther, for .ul
legal tender greenbacks Then, with IN
money in haud, viz: three hundred sr'
twenty-five millions If gresnbaCks, Oa,
hundred and fifty millions Of gold, and fl
teen millions OF silver, the Secretary OF IN.
Treasury, as preliminary step, shou d pa!
oil an equal amount of outstanding Fix ,e
cent. bonds, and thereby reduce our inter
est account thirty millions annually.
Should Mr.. Rothchilds refuse to receiv,
greenbacks in exchange for his bonds, th-r
the Secretary Of The Treasury should psy
them in coin-good, honest, round silvel
dollars, weighing four hundred and twelve
and half grains each, and he should sci
every dollar Of gold and greenbacks IN rh,
Treasury, for the purpose OF raising the re-
qTred amount; and If that wa. OF suii
cIeDt, the Government should give Ire,
transportation To five hundred thou-an.
iramps, and million icle CONSUMERS, lien
the eastern ciii~s 10 the silver mines of Col
GRADE, New Mexico and Arizons, aud a
The same lime open and run TO the extent
OF the capacity, the L. :. minis until al
h3ae>t money had accumulated IN quaptitiei
sufficient to discharge these and all Uth,I
similar obligations.
To accompii b this the volume OF green
backs should be increased and furnished b.
the general Government only upon a per
capita basis limited by the constitution, il
an amount sufficient to give steady employ
ment TO labor, and free activity to trade.
The money thus furnished should be a
full legal tender, at its stomped Tue, for all
debts and dues, public ana private, except
where, by the terms Ut the contract, it shall
be otherwise agreed.
Money is a creature Of law-intended to
be used as a medium of exchange, ard mol
rs an article Of commodity.
Ii is money only wit.iin the jurisdiction
OF the Government whose stamp 1t bears,
and the moment it goes beyond that juris-
diction il ceases to be money and becomes
an article of traffic Its money value at
home is what the law makes ii. LIS com-
mercial value abroad, if paper, depends on
the resources and stability OF its Govern
ment at home; If coin, the value Is deter
mined by the law Of supply and demand,
the same as wheat, iron and all other ar
ticIes of export. 1t is said by hard none,
advocates, that the value Of money il No,
fixed by law, but determined by the intrin
sic worth, in.the plate or sheet upon which
It is stamped. Let us see. The Mexican
and trade dollars-so calIed-are stamped
on plates weighing 420 grains each; yet
they are worth only ninety cents. he
United States silver dollar of 4l2I grains
is worth one hundred cents The Mexican
or trade dollar is not legal tende: the
other is. At The Bank OF England the
United States silver dollar is worth eighty
one cents The United States, gold dollar
is worth ninety eight &c Is. The Uui,.d
States greenback dollar is worth ninety
five cents.
United States bonds at home and abroad
are worth a premium in gold. Yet thou
sand dollar bond Possesses 10 more intrinsic
value than a one dollar greenback. Nor has
a ton of gold intrinsic value, more THAI a
ton of lead, except the money value ss Civ
en- by the stamp of nations.
If it is intrinsic value that floats our m ~
ey. what is it that tloots our bonds? The Y
are both issued in pursuance OF law, and by
the same awmaking power.
Again, if We must have gold basis for
our paper money, why not also have gold
basis for our paper bonds. Ii there is ne
cs i't 'ne o. tea. ,ne,e = ,ts sa neoe MES,
~ ,t, -. .ne 49, 80; - :, H. -, bfa
" .ne sos, " ,n rrL;,n %i,u ~ Il '"e naAi'
VI oui o"n Peop' Ia LII -
~ ~ pg' d." Dr., -
!; ~ io'sisn '"i ''' ''''" i
IL IL oroa;, ors and .,.,;i;,v os
ne .Ieui', .-ou'. anu - Ho y.
o"' nun i.l u. arc ,,:ts tn' " Al al 80
pr - :. ,ialoTt ,In ~ "ne 'I' - - - ,he E
- ai'' Ill 'ne i'' "' a. = ''' '"'
'''''' r
hI MS NJ i''-' Ia"
Oh le. ., instead OF being entitled An actto
provide Tor the RESUMPTION OF specie pay
uIents, should have been entitled u he cui-
niinating act OF conh5cation.
IL was the last of serles of laws, which,
taken together, have brought cis'r'ss and
"tn IL uton s. n,in,ion' na,;o ~ tteo The
H. - dsnom;na,;ans nf tn $500 : ra
, sns tf,r ~ oan,O ma ,ba .'d"m,.;on u -