Mower County transcript., 1889-10-23
and war material. The greenback re-
all those THINGS. Was there

and war material. The greenback re-
presented all those things Was there
no other and better way for the govern
ment to get the greenbacks back into it's
possession other than to issue bonds and
borrow them? You must agree that the
government has three ways by which it
can supply itself with money.
First, it has the power and right to
create money. Ii it cannot you must
show who can if not the government.
Second, it has the power and right to tax
the people to get it back again. Third,
it has the right to borrow it, THIS must
be conclusive, that it can neither tax nor
borrow until there is some money created.
Ism this good common sense? We hear
great deal said about borrowing money
in Europe. Win you please tell what
kind Of money is borrowed? The gov
ernment at the post office will not take
a Canada quarter Or dime for postage
stamps, why? Simply because it is not
United States money. 1t can and will be
proven that the government did not is
sue bonds to borrow money to carry on
the war. Mr.. Spaulding in his financial
history, on pagc7 says; The title Of the
legal tendeT act was very expressive
An act to authorize the issue of United
States notes. and for the redemption or
fund thereof and for funding the floating
debt OF The United States" Do you OBJ
serve it says funding, not borrowing?
Now in further proof that the bonds were
not issued to borrow money. | turn to
page 297 of Finance Report for 1872 and
read the heading: "Dcslruction account.
Statement Of face value Of money de-
stroyed sAnce 1861" At the bottom it
fools up 81, sos, 3l4, ,4;5 80. aud says ''lo
tai amount destroyed as money Do
you mean to say friend Star, that the
government issued bonds. to borrow mon
| ey to destroy? The above amount was
destroyed in just ten years. Now l turn
to page 2HG and find the government IS
sued 81, ,O5l ,765,6 6..6 of legal tenucr notes
jyrccnbacks.) The government created
these greenbacks and paid them out to
soldiers and for clothing, subsistence and
war mai efial. Then again the government
taxed aud took from the people and pa!
as interest to bonuhOlilers from 1861 t
1883, the neat little sum Of 81, 31O, S31, 1888,
IS. Thus proving the government ha:
the power Of taxation, Now | Will sub
nit to you friend Star, that as the gov
crnmcnt created and pad out a
money in litfereht forms $;3, ll2, ,615, S79.
As and took back from the people through
taxation the sum Of 50 370 S337, 19S SO ant
paid 1t out rs interest,", cOu q not the gov
crnmcnt have got along as we'll and bel
ter for the people, not TO have issue'
bond$? The government created ant
paid out for services alI,l atcrins OF wa
oyer three billion dollars.
It taxed and took FROM the people owe
two iiilron dollars as interest money. at
Ter the money had been funded int
bonds. Now | will submit to any ma
with coMmOn sense, this proposition
, After the government had have create
, and paid out certain amount. which Wa
; in the hands of the people, and that if tn
govcrumep. should create and pay o,
any more there would be too much in ci
, culatiou, could not the government ju
} as we'll tax the people and get this mone
back into its own hands, and then pay
out for services and MATERIAL rs to pay
=, out for interest. a-lf the government ws
I not IN debt it would not have to pay il
terest There was no necessity for tt
; government to issue bonds and he
f debt, only for the benefit of bond holder
' Space will not permit ME in this letter
: show where Spauldiny. Stevens, Etc.
the house, and Wilson. Sherman, Sumne
) ETC., of the senate, and Of Chase an
! Lincoln, stood during the passage OF tt
, legal tender act, but if you will kind
} allow me space as you have already don
= Mr.. Editor (for which tender you man
| thanks) will not only show that thos
, men were not ''scoundrels" but WEI
, fighting against ''scoundrels. No ma
, could utter more patriotic language tha
5 was uttered by some of those men. Frien
| Star have quite a number of official do
umcnts, to which can refer