The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1878-10-05

, laws under which they were issued, and To thai
end Congress should Immediately repeal the
public credit act Of 1866 the funding bill oi
1870 the resumption law, and the National
banking act; retire the bank notes, aud sub.
stituting therefor full legal tender greenbacks
Then, with the money in hand, viz: three
hundred and twenty-five millions Of green
backs, one hundred and fifty millions Of gold,
aud fifteen millions Of silver, the Secretary of
the Treasury, AS a preliminary step, should pay
III an equal amount Of outstanding xix per
cent. bonds, and thereby reduce our interest
account thirty millions annually.
Should Mr. R,thchilds refuse to receive
greenbacks in exchange for his bonds, then the
Secretary Of the Treasury should pay them in
coin-gnd, honest, round silver dollars, weigh
ing four hundred and twelve aud half grains
each, and he should sell every dullar vi gold
and greenbacks in the Treasury, for the pur-
p'~e of raising the required amount and il
Chat WAS not sufficient, the Government should
give free transportation to five hundred thou.
sand tramps, and million idle consul ,er., from
the eastern cities "a the silver mines of Colo
RADIO, New Mexic, and Arizona, and at tie
sIne time open and run to the extent of the
capacity. the U. > mints un - an honest money
had accumulated in quantities sufficient To
discharge these and all other similar obligations.
To accomplish this the volume ofgreenbacks
should be increased and furnished by the gen.
eral Government only upon a per capita basis
limited by the constitution, in an amount suf-
ficient u give steady employment to labor, and
free activity to trade. .hi''
The money thus furnished should be full
legal tender, at its stamped value, for all debts
and dues, public and private, except where, by
the terms of the contract j: shall be otherwise
agreed. 5s
=, Is
used as q medium of exchange and not As an
article of commodity. 1t is money only within
The jurisdiction of the Government whose
stamp it bears, and the moment it goes beyond
that jurisdiction it ceases to be money and
becomes an article of traffic. Its money value
1T home is what the law makes it. Its com.
mercial value abroad, if paper, depends ON the
and stability of its Government A.
home if coin, the value is determined by the
law of supply and demand. the same y, wheat.
ron and all other articles of export. 1t is said
by hard money advocates, that the value of
money is not fixed by law, but determined
~ the intrinsic worth, in the plate Or sheet
lpon which it is stamped. Let Us see The
Mexican and trade dollars-so called-are
tsmped Oh plates weighing 420 grains each:
ret they are worth only ninety cents. The
United States silver dollar of 4l2& grains is
worth one hundred cents. The Mexican or trade
lollar is not legal tender the other is, AT the
Bank Of England the United States silver dollar
5 wo, tn eigh.y-one cents. The United States
old dollar is worth ninety eight cents The
United States greenback dollar is worth nine
y-five cents. r-...- .s,-r.. .,-,--- g...-
United States bonds At home and abroad are
worth a premium in gold. Yet thousand
lOllar bond p assesses no more intrinsic value
han one dollar greenback. Nor has ton OF
odd intrinsic valne, more than a ton of lead,
kept the money value as given by the stamp
# nations