The daily gazette., 1880-12-30

are 10 the interest of bondholders
against the people. The people have
been impoverished and will continue
to be for the benefit of fbondholders and
banks, if they are continued.
LEGAL TENDER TREASURY NOTES.
In the future we must have a paper
currency, based upon the Government
bonds, or paper currency Issued by the
Government directly to the people, and
made r. ceiveabie for everything which
gold and silver are received 80 IL at gold
silver and Treasury notes nsay be equal
oeiore the law, giving gold and silver
coin to those who wish It and treasury
notes TO those who prefer them. This Is
The law of 1876, which we advocate
We give the following reasons for
preierring treasury notes to national
oank nous: Treasury notes are mon
ey, not bills of credit, when recei vable
for all debts due the Government, and
interest bearing bonds of the United
states. They are not mere promises to
pay money. In the language of the law
creating them and the National Banks,
treasury notes are lawful money of The
theih. The notes Of national banks are
nowhere called claw ful m oney OF the
United States." They are merely prom
ises 70 pay, and are payable in treasury
notes. The lawB creating treasury notes
10 not make them redeemable in money.
National bank notes ARE redeemable In
Treasury notes. Treasury notes are nut
redeemable in money of any KIND, but
they are redeemabie as gold is, by debts
iue the Government and by bonds of
be Nation. If treasury notes are ire
leemable so are gold and silver COINS
rhe same means are provided for the re-
ilemp'ion of both, except that under the
present law the latter are received for
iuties on imports and the former are not.
For paying duaes on Imports legal ten
Ter notes are not 'la wful money" For
svery other payment to the Government
md TO tie people they are lawful money.
rhe new legal tenders must read, "This
tote is legal tender for S5," instead OF
The Government will pay So" The
present legal tenders are promises, and,
.hnugh it is said the Government does
iot pay them, the charge Is not true -
The laws of their creation provided tile
ways and means of payment which
we're ample. We admit the law does not
degrade them by making them pay able
other money whether of gold, silver
)r paper. They, like gold and silver CON,
ire redeemable in interest bearing bonds
{ the Government, aud in taxes and
iuties. These notes are redremable pre-
;sely as gold is, excepting that the latter
> received for duties on simports, and
lie former are not. They Will be re-
ceivable for the same,tbings under the
new law. rhe law Of 1869, saying these
lotes are not money, is an e1 post Jdcto
aw. 1t demonetlzns these notes as the
law of 1873 after ards did silver. These
wo laws had the same paternity.
THE EXCEPTION CLAUSE.
The present treasury note money
houRh crippled at Ills birth, and deprlv
I'd of Its greatest power by the clause
n the law which excluded 1t from the
Custom House, is the best and most sat
isfactory money the United States evel
lad. Strike from it this clause and il
will be the best money in the world. /
would be lawful money of the United
states receivable for all taxes and duties
tnc for Government bonds, having the
faith of the nation aud 100000 peo
pie behind IL. and being of uniform val
ue throughout the nation.
j. G. JACKSON.
Any person wishing the book car
nail 80 cents to Warwick Martin, Wash
inQtun ID q.