The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-08-01

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70 the date II tho lmnds and VI Tho
Issus ~ legal tender currency. Tho
demand notes were authorised July
II, teBl, ten millions iesncd and they
had deprecated 10 oa ccnls on the
dollar. compared With gold. hence
the balance n The sixty mlllloas h.
sued, wore made : full legal tender.
and With that quality attached. werc
always NJ par with gold, even when
u was worth In Rrccnbacks (hut 4
partial legal trndrrl. t9.s,. hut nll
that In NJ no consequence. The prin.
cipnl VI all tho bonds except tho
iO40's, were payable In iSnyn'
money, the interest IN rotM. I'll.
1910 bonds were under the law,
made payable, principal and Interest
III coin.
Hut tho Courts have settled tho
question beyond cavil. thnt payment
made In lawful money At tho time 81
payment. n 4 cancellation 0f tho
debt. On pARc 9l8, wi, Iowa IT,.
ports, l. u case covering tho poln.r
fully. and tho Unltcd Htntcs Supreme
Court has In 18th Wallace's Reports
fully sustained tho ruling of our own
Court. In this ease reported IN XVI
Iowa. tho defendant borrowed t7ND
In American gold, Oct. M, 1900, nnd
hence long time prior 10 the pas.
sngo of the net of fcty. -. 1901. nn,l
executed his note therefor, payable
I liz Il. n. GDid. This " II history NJ
thu circumstances of tho cnxc, Tho
Court held. THAT II WINS 4 loan II
money, and wns payable In the me-.
slium or currency declared BY Inv 10
bs \ legal tender IN payment IT
drbts." ARnln In the sNsnc eas'.
page 2l6. tho Court says:
Treasury notes Mre declared
equally = legal tender, Or Y, be H..
gally equivalent 10 gold anil must
be received and may 30 rendered
where the coin could or would be.'
Again Hame case pA0c 2l0. the
court says: Anything thus made =
lcgal tender must b. received In pay.
mcnt Of = tlobt. and . party oannoi.
BY inserting an obligation 70 pHy In
ono rather then another 81 those IL.
gally equivalent values, compel pAy.
Incnt In the coin or currcncy 10
named"
But enough In reply "a . com.
innnlcation vold Of lArts and Who'll
y inapllcAblc 70 The qusstion before
tho American people for their decI.
atNss