The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-10-03

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iein Lava meH~y l,<~aSns wctthl~ss -
sscn - ceiM ss.lemvion ~~a f~lm~si
lint ios Gtse~a ssass ths ose~nlaek
appreciated IN valss without fsslrmr
tsoA.
A law. mency deprecated. n woala
ray obligations only " the extent "
/ IL deprecated value, wlilc greentAcks
wenlL al~ays ny debit ana sAacs q
par.
CREDITOR might sslwse Law. money.
i Int they cwunos lhe gfcenl'acka. The
| difference hrtw0en Laws money and
ercenhMcks b tnse what Laws money
/ lacked and cAnscd II 70 iail.
n
Tho speasev asss revssysd ,he frenhscA
Atgnnen. that TIM rnited kiAscs hu.ds arr
+ mol taxed Il hes i~cn decided u, the IN.
i rrvmc Court ~ the United kiasfs over and
over sgain--aotns n tlse dcctatuns NOV y yeAss
I okl--si,a, nc irnds ~ the unitrA states arc
| cx.mpl from taaaston ~ : constitutional psti,.
| cipic Act people have hfca lclnAed into tho
belief tlat " II tho result III \ Conspiracy,
which ,,fit~d members Of Congress b exempt
bond. from TAXATION, 10 she interest q mo
| The constitution II silent In regard
Ia what shall, and what shall not. he
in~a1 ~ t.x&s.tp ~ ts~ anw
pressed ~ implied provision II llc con.
Atiinl:on. aud such construction has
been confirmed l,y the courts for seventy
years. what was the necessity 81 incor-
porating III tho law authorizing the
issnc Of bonds provision cxempting
them?
Tho principle 81 equal and uniform tax.
alton IL recognised by the constitution,
but IL liz q forced and understandable
construction that exempta any interest
that needs protection from its share ri
.hc expenses of such protection.
n In proposed 10 substitute now issnnr ~ ~
\ raj lesldef or treasury nOlOs fur national banh
notes This II difect attack NJ on The public
credit ~ thr United states, Every national
bank ID chartered with Tin privilege " existing
o. rhooses 10 40 into voluntary liquidation, y
abolish the bank. prior ii tho expiration Ol
their charters, by arbitrary force. wanld We TN
violation 0f a contract entered into w each -
svcciivc hank with tho Government
Tho Almighty made = contract with
the human race, also. that "the days 81
man's life shall bc three rcore and ten
hut, when Gabriel comes, will any man
be foolish enough u plead this contract
Ia bar 10 The decree that slime shall ~
no longcr2" Tho National banking ac,
il not = contract: II il simply a priv
lego granted that may ~ any time h,
withdrawn when the public good r.
quircs u. II II like like life IL man
given by the Creator to be taken ava,
without asking tho creature what he I
going 10 do about IL.
no principle wAa moro unanimously consent
"a 10 from fho foundation At tho 6ovcrnmrn
Nlithe beginning Of tho war than that IRE
doemable currency WkA IN uMmttlRAted eyi
and particularly uovermcns issnss wore !. r.
grcsnbacks were advocated ~ !iao time ~ ihci
issuc ouly - temporary sxpedtcns.
The 6rst sentence does not apply :
greonbacks for they mover wcrc irre
0eemablc. They Arc - much redeem
abba q coin.
They ars redccmablc In tAxcs an
debts. which represent Todcmptio
fund much larger In proportion 70 u
iDsus than tho reserves Of any bank J
Ohsistsndom.
!: Their issue Wa ~ bitterly oppose
by tho hanks and money-shnrks ths
i nothing would restrain their h0stilit
, 70 them hut m understanding that tho
mse should 10 temporary, but u u
!: rule 81 common law thst no promise I
i pledge II binding that II given In dure'
d Or cxtorted under distress. An0ths
4 thing, IL was IN experiment. No sue
!, money had ever been issued. Mt
Z were fearful II might result - did u
!. French and Continental moneys. Is,
! the longer they used II tho better the
Q liked u; and, after tcsting II . score !
q years, and finding IL improved vii
d Age, they don't propose 10 givc u UP, ,
!, accept 81 \ substitute no better IN
! much moro expensive.
I Dns ,ew d.ys ago sa~ I . y: y
I shA' such 3 thing wAs never intended = 4
4. payment Of tho public debt; that tho debt VI
n oscAtcd cntirely 81 the dictatioO Of Tho h0s,
4 lsolslors, Who wanted TIN ntsreet pesp0tnal ~
= perpetual drain upon tho ndustri6s OF thu lab
= Inn clAsssa. That Amonnta 10 tho Inonstro
i, statement that the VAR itmrlf Was gnltsn Wy
/ the bOudhoidcrst 10 give thsm IN opportunity
:. invest their money Ia lnuis.
u The war was not gotten up by q
:, bondholders 70 give Thorn N opport
!, nifty 10 invest their money In hond
i but IL afforded thsm IN opportunity
!. seixc the Government by the throat
!, the hour Of IL weakness and compel
= 10 give bonds Or die.
= This In IN proof, and here II the z,
= dcncc. After tho full Legal Tender b
:. had passed tho House, II met violet