Mower County transcript., 1889-10-23

and war material. 81 The greenback re- i
presented ALL those things. Was there
no other and better way for the govern.
ment to get the greenbacks back into its
possession other than to issue bonds ana
borrow them Y gu must agree that the
government has three ways by which it.
can supply itself with money. s5.5 ...
First, it has the, power and right to
create money. If it cannot you must
show who can il not the government
Second, II has. the poWer and right 10 tax
the people to getit back again. Third,
it has the right to. borrow it. This must
be conclusive, that it can neither tax nor
borrow until there ssome money created.
Ism this good common sense !? We hear q
great deal said about borrowing money
in Europe. Will you please tell what
kind ofsmoney 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
history. on page I says; The title Of the
An act to authorize the issue of United
States notes, and for the redemption or
fund thereof and for funding the floating
debt OF f@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 297of Finance Report for 1872 and
read the heading: Destruction account
| Statement of face value Of money de-
stroyed sance 1851" At the bottom it
foots up 81. sos, 314, 49, 80. and says To
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 turn
to page 22s6 and find the government IS
sued 81, ,051, 765, ,656 of legal tender notes
| jgreenbacks. The government created
these greenbacks and paid them out to
soldiers and for clothing, subsistence and
war material. Thenagain the government
taxed and took from the people and paie!
as interest to boGdholders from 1861 to
1885, the.neat little sum of 30, $40, S37, 1888,
36. Thus proving the government has
the powers OF taxation, NewI viii sub
nit to you friend Star, that as the gov
ernment created and paid out as
money IN differeht forms, So, 1l2, ,615, $40,
45 and took back from the people through
taxation the sum of So, SIC, ,S37, 79S. 50 and
paid 1t o,.t as interest, couid not the gov
ernment have get along as we'll and bet
ter for the people, not TO have ISSUED
bonds? The government created ant
paid out Tor services and materials OF wa
oyer three billion dollars. %< -. -. +,
1t taxed and took from the people owe
two billion dollars as interest money, af
ter the money had been funded int,
bonds. Now will submit to any ma,
with common sense, this proposition
After the government had have created
and paid out a certain amount, which wa
in the hands Of the people, and that If tn
i governnani should create and pay Ou
any more there would be too much IN Gil
culation, could not the government jus
as well tax the people and get this none
back into its own hands, and then paw
: out for services and material as to pay
= out for interest atlf the government wa
not IN debt it would not have to pay in
terest. There was no necessity for tn
; government to issue bonds and be i
debt, only for the benefit of bond holders
Space will not permit me in this letter t.
show where Spaulding. Stevens, Etc 9
the house, and Wilson, Sherman, Sumner
, etc., of the senate, and of Chase an
! Lincoln, stood during the passage OF th
legal tender act, but if you will kindl
} allow me space as you have already done
Mr.. Editor (for which I tender you man
thanks) I will notonly show that thos
men were not '''scoundrels'' but wei
, fighting against ''scoundrels. No ma
!, could utter more patriotic language tha
was uttered by some of those men. Frien
| Star have quite number of official dot
uments, to which can refer. 49,.
l. J. G. VALLETTE.