The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1889-05-09

READ THB EVIDENCE !!
The Bonded Debt Of the
United States,
The Creation Of Sc0undrels After
the G .Ose Of the War.
Lawful Money Converted into
Bonds TO Enslaye the People.
when the rebellion commenced, the
government Treasury was nearly
empty. A small loan was negotiated
with the banks, which Secretary Chase
drew in coin, contrary to the banks
expectation. In a few short weeks,
more money was wanted. The banks
dcmano.d l2 per cent. semi-annnal
interest, with the provision that the
government should not call for coin,
but should DRAW on THE BANKS By
CHECK. These extraordinary terms, so
shamefully exorbitant, were refused by
Secretary Chase, Of the Treasury.
Thaddeus Stevens, Mr.. Chase ard
others said. IF credit is to be used, the
credit of the government is certainly
better than bank credit The result
was the several Legal Tender Acts.
giving the people the grcenback cur
rency. From that day to the close of
the war all payments were made in
that currency, or in interest-bearing
Treasury notes. The banks suspended,
and gold and silver coin shrank out of
sight, or was gobbled upby Wall street
gamblers. The soldiers. the govern
ment contractors and all debts on ac-
count Of the war, were paid in full-to
the last dollar--in the way above stat
ed. But Shylock was not idle: while
the army was in a death struggle to
save the Union, the bankers used their
leisure to perfect an extraordinary and
infamous scheme to levy .tribute upon
the people, This they cunningly
managed to get Congress to indorsc
and help carry OUT
During the terrible struggle OF our
armies, and mostly between 1862 and
early in '65, a small portion of the
bonds were sold But who bought
them? Did the bankers. or other
money-lendcrs? No sir! on. the contrary,
they did all they could to injure the
government credit. The few boEds
sold during the war, were bought by
the farmers, mechanics, school teach
ers and other defenders of the Union.
These. including the soldiers, txusted
and supported their government with
life and money.
But the moment all danger was
passed, Shylock was ready to commence
his harvest. In anticipation, that arch
rascal and enemy Of honest humanity.
Hugh Mecnlloch. had been in,eigled
into the L. S. Trcasuryship-against
Mr.. Lineoln's wish and Judgments
the bankers aud Rothschild's agent.
With all the machinery thus ready and
well oiled, The stupendous system of
robbery BY absorption" was put in
motion. and has been kept increasingly
lit work ever since. and the lend is not
yet by many years.
Now let us give somewhat in detail,
an account Of the Treasury notes. bonds,
ETC.. Congress provided for, and the
amounts actually issued during and at
the close Of war.
The nc; of March ?, 1861, authorized
$35,0uU,ct0. Amount issued $50, ,36i,-
45o. Act. july .7. 1861, authorized
$j0,n0O,oO0. Amount issued $50, ,OOO.-
600, Feb. II, 1862. authorized $40, ,0o0,-
600. Issued $l0,0O0,oOO. These two
amounts were the well known ..de-
mand notes." made full legal tender,
BY act Of March '62, and were at ALL
TIMES AT THE SAME PREMIUM WITH
GOLD.
The act Of July II. 81, authorized
$3.50, 900. 900, part of which were to be
Treasury notes. with interest at $40
per cent. payable three years from date.
Amount issued sl4O.Oai.7aO. Act OF
July IL, 60, authorized $3.50, ,0oO, 900,
and act March B '63. an additional
500, 900, 900. On the backs Of these
notes the villainous '.except' was
stamped. OF this class of notes $685.
420,0Sl were issued (sec report Sec.
Treas. Act March |, '62, authorized
the issue Of certificates Of indebtedness;
to public creditors, with interest at 6
per cent, and the act Of May II, same
Year. authorized the same certificates
in payment Of disbursing officers
checks. interest and principal payable
in lawful money. These certificates
were in the form of the greenbacks. in
order to readily circulate. Act Marcel
3, '63, authorized $4OO. 100000 three.
year Treasury notes, with interest Al
6 per cent. principal and
interest payable in greenbacks
These notes had the except on theil
backs alsO-amount issued S44,520,.
coo. Act March 2, 80, authorized
S400. 100000 ten-year Treasury notes,
at q per cent, principal ard interest pay
able in green backs. and Il legal tender a
their face. Amount issued $l66. 100.
900, and the fifth section Of the same
act-March 3-authorized the deposit
of coin and bullion with the Treasurer
and the issue of certificates therefor ii
the ordinary money denominations
greenbacks. 1t also authorized the
issue of the same in payment of interes
on the u, s. bonds, and made them re
ceiyable for customs dues. Amount
issued $500, ,776. 400. The same &C
authorized $4OO, OOO, 900 Treasury notes
with 6 per cent compound interest
payable in lawful money after thrc.
years, and. legal tender. Amonn,