The post. [volume] (Middleburg, Snyder County, Pa.) 1864-1883, 1878-09-19

issne and naiptepauce ia circulation
of 1868, ,O0O,O 900 OF United States
notes, without any provisions what.
ever for the;;' retention or their con
version INTO coin. This issue is DIG
tiuct'v made. and for Que .is ;nci..y
: accsp, il. We favor paper money re-
deenat'e in coin, snd 'he '.rges'
smouus that ccn be maiutr he'd a
r.- ~iti coin, VII ',e he favo-s ~
..iioant Of paper issued d;. &c y by
the Government, not conver' Die -.
10 coiu, with No provision for :e.
demptioa, mud - an emoint fat Do
Que ha, cln'ae,; caa be mpia..' aeC
at par with colo.
He says il is Just ~ easy TO main
tain S60S, 600, 900 q .oenb,.css nc "a
with coin ~ is IS to mein;aiu S34G,-
0o0.000 6 seenbacks and 322,O00, 00C
nationc' ban. notes ct psr Nitl
coin.
But he forgot TO state that The
bank notes are payable in e.een-
backs and not ia coin. aud that they
are 20 be redeemed by the banks al
their i.sk aud expense, and not by
the United States. No coin rese. 70
is needed by them for such rede.lD-
ton. Tie issue Of those notcs aids a
mc 1taining tho United s. ties notes
at pac With coin 1stead Of obsi dci-
"a i.
The baul:s are reqr', ID to keep 10
the;, vaults aud in tho Treasr"y Of
the United s. rs au ample reserve
in Ur"2d Stnles notes, to Iodt I'm
thei' notes, aud tins give to the
United States no.es o use Which
tends to mn a IA them at par
,th coin. The whole br den now
resting upoa the Cover cnent is to
mriu'Niu resumption upon the q
mount Of United S'.tes MOI ,s, aud
It's confessoI'y IN be done by .
coin reserve OF i,om th'rty to fo,'y
per cent. which we have on hand,
while, = the whole amor,t Of circu-
laiou was in U";i d state 9
notes. no coin reserve nat cou'd be
reasonably secr"ed r,d me'utG',ed
would be sufficient for the pu .,'.se
Of redemption.
Tho bal. notes TO not a any
sense the notes Of the Gove-L iien,.
They o the noes OF p ,i,o corp
r. 'ons amply sos, od, redeemed by
them, N; a med BY them. o., y
they + to re,.oem them. 'he sc,r =
iy C , at on Q be app ID to &c
" ,!enD on. tt = c.pe cut ~ -
-, S rpo',on L .he c c. r,ioa
10 ,. .,aucu by |? sIte co o,... ,os
oi .b.es - m '. ia ci c. =. iol
ae y w. ce = much paper honey
- % ID &c M {, led ut p = il coin
.s.I:A I.ea , ." no G We. -
.l5l
l., pi"n wor'l d ca'y >..ola;
iae ,,;J s'pp, Of the i)aa Avs, ~
de- w!,,a', bob United Stases bonds
. inotes issued, aud which Inn
:; ex?. .ess'y tie amorat OF U'.'ed
) ; notes TO St00,O00,000. n s
wir ! be olation Of the pubic
Il u aud word mp at once the
pab 9 credit III do ;,corce;vably
more ha a THAI il - i eve profit
to tho Go"e'pnen
Tts scheme of 20 encounters c.
.e,'l1 tho decision Of the Sup. ems
Coz OF the w. d s stss, md
won ! no doub' be held uncors;,-
tutionnl. b ,snse t provides Tor
very large increase OF United States
notes a inc Of profound peace,
where no scch e-sency as is con-
;emplated by tie Cons'itu on o.
&C ,'siop Of 'ie Supreme GU se. ,s:s
jrs'''g srch ! issr,.
=, v0, q q: once 70 oav o. O. ~
.cnce >Ihs who:e sysss,n o; NJ o.
b. g, which lave been the IA ~ 3
30 by woich s o bGn... i,'vo
',een proven Nd ON .ss' cg O. gu.
Ia 'ng not .s. The o. , ,cose the
ration ba ks re ,ei.e ON tae
Goveramen. VII 'ch induces them TO
mr. ~ 10 Sbei, CO. ooraie Q: 'stence is
Gae 'gli', rndor Limits i ed by NV,
!, issue Q, Gu atiIg No Tfte
lis om taem and ihey word at
on,s cease. without exc option, 10 be
national ba-ss, end would be o..
gsr zed 2a'u, o. before the VIZ,
into State bap',s, With such powers
.s any State nigh. give them. The
newt able result OF such o poicy
world he to re, I've ssain the system
Of S Ito ban';, N,sbout any common
o.go zl';oo, wiahout any security
for .he' notes, upon such te' rs rs
anv S 20 m sht p ESQ, be, and thus
" the evils OF al STATE bank money,
wh'ch tho people ezosrieuced before
the Wa, vi. .scc: eys'n Nearly c
geue,a',ou has pcssed since TIE n
con. dous sys an OF .pcpe, money
which es.st,l ,;o:e the wa. wss
swept away by tre naiion' banking
act. II iss''s to ssv that he inju-
~ done to tas ps,p-e Of tie Uuised
S y - b. S',e rri'r.e Of these ban e.
BY the ,cs ria Y, 'ue OF their pape-
moaey, by lis limited lcos' ciror'a'
ioaf d by successful cop l;si 'eit-
ingw, aoorn''y s,seter than the
,ntsres: OF the en-, 0 natiOpr' bank
c''cr ai:o, Of the U,ited S ,ss.
Is Perso,. " rsve but little in'sr-
ea5 10 or fesl;og Tor national bauLs.
Eat ,or the benefits derived from