The advocate., 1891-01-21

ne Rae boon victim OF sppciog Of conf
depoo game
IN discussing the army appropropria.
tlon bill, Mr. Breckenridge, Of Kentucky,
said.,
10 y perfectly apparent that thero ia no
need in thoaa days with only 5000 men en-
listed Ia th8 army 90 ocoury 30 largo and
oxponAiye a staR az we now have In the pav
and 1ubaiahenco department, and chat an
three, tho subsistence, pay and quarlormas-
tor departments ought 10 bo under one
common head. know this viii bo con-
oidorod az almost ipfdolity by the diatin-
guiah0d gentlemen who constitute these
separate corps. can 500 no good reason
Why the money can NOT bo distributed 10
tho soldiers with equal aafoty az quarter
mastor's or oxproas matters are distributed.
Mr.. Cutcheon, Of Michigan, remarked;
II is well understood that tho present or
ganlaation OF the army Ia a akoleton organ
taati0h that W9 keep up as a sort OF life in
surAnoe 90 that in case OF a sudden omor-
goncy u could be Allied up and ready 10
meet the emergency.
IL looked anything TO Mr. Breckenridge
but a skeleton"
Tuesday, January Ex-senator Cock
rell, OF MlsaOur, In q speech ON coin and
currency, remarked:
/ was astonlshod whom the distinguished
Senator from Ohio Mr.. Sherman declared
that 0v0ry particle OK property, every Obh-
CATION OK contract, whether tho national
government, or by each individual was based
Ia actual fact upon the gold standard OF
2b.b grains, nine parta iino and that the pas
sage OF free coinage act meant revolution,
for u would change entirely the valuation
OF all property In the United States.
The Senator gave the text Of the body
Of o government 4 per cent. bond, No.
7,li5, which reads as follows:
This bond Ia lsaued In accordance with tho
provisions OF an act OF Congress entitled,
IAN act % authorize tho rofunding OF the
national debt, approved July a. 1870,
amended by an act approved January 20,
1871, and 70 redoomablo 40 the pleasure OK
the United States after the tlrat day OF July,
A. ID. 1907, In coin OF tho standard value on
the United States on said July IA, 1870, with
interest In such coin from the day OF tho
dato'hetoOf at Che rate OF per cent. per
annum, payable quarterly, on The hrBA day
OctQber, January, April and July in eaOh
year. The principal and interest are OK
empt from Che payment Of all taxes or
duties Of tho United States 40 we'll ag from
taxation Ia any form by or under state, mu-
niolpal or local authority.
Washington, July 1, 1877.
s. j. MnLARD,
Register OF the Treasury.
Act Of July IA, 1870.
Senator COClrelI thus continued:
II will. bo seen that the bond has upon its
face, ''rodogmable at the pleasure OF the
United States after the Rrsb day of July, A.
ID. 1907, In coin Of the standard value OF the
United States on said July IA, 1870" Now
Let us go a little back OF this. These A Dor
cent. bonds belong 10 a GLASS OF bonds
known Ra $40 bonds, refunded under the
law OF July IA, 1870. The original bonds
were payable beyond all possibility OF doubt
In any dollars and cents legal tender.
Whom the law OF July IA, 1870, was passed
10 Wgs at tmo when large number OF
people In the United StateB we're demanding
tho payment OF these $50 bonds In United
StRoea legal tender notes. IL was long be-
fore the resumption Of specie payment
They had been purchased with United States
legal tender notes, and the people OF the
United States believed, and believe to-day,
that they ought TO have been paid, could
justly ,hsye been paid In tho same kind OF
money with which they we're purchased.
Tho bOndhOlder doubtless controlled the
and they would not intrust Con-
gre8s with its constitutional right 20 coin
money and regulate the value thereof.
But on July IA, 1870 Che standard silver
dollar WRs entitled 10 free and unlimited
coinage az our mints, II was full legal
tender for oil debts, public and private, and
wal upon perfect equality before the law
With gold, and II was In that year at a pre-
MUM OF GBL or IN other words, one hum
drdd silver dollars would purchase In the
market si0267 in gold.
~ is due 10 No that we should examine
khoNA ahnrUaa NJ rownluAbou 30 nuaotAtSnr, -