Dodge City times. [volume] (Dodge City, Kan.) 1876-1892, 1891-09-25
THIRTY YEARS AGO"

From The Sentinel.
A vote Of the committee was taken
showing that Spauldlng, Hooper, Stew
ems and Maynard were in favor, and
Morrill,, Horton, Corning and Stratton
opposed. Stratton changed bis vote.
and on the 9TH day of January. 1862.
the following bill was reported to the
House:
A BILL TO AUTHORIZE THE ISSUE OF
DEMAND TREASURY NOTES.
Be it enacted by the Senate and
House of Representatives Of the Unit
ed States in Congress assembled That
for temporary purposes, the secretary
of the treasury be, and he is hereby
authorized to issue, on the credit of the
United States, one hundred millions of
dollars Of treasury notes, bearing inter-
est, payable generally, without specify
ing any time or place Of payment, and
of such denominations as he may deem
expedient, not less than five dollars
each; and such notes, and all other
treasury notes, payable on demand, not
bearing interest, that have been hereto
fore authorized to be issued, shall be
receivable for all debts and demands
due to the United States, and for all
salaries, dues, debts, and d emands ow-
ing by the United States to individuals,
corporations and associations within the
United States; and shall also be lawful
money and legal-tender in payment
of all debts, public and private, within
the United States, and shall be ex-
changeable in sums not less than one
hundred dollars, at any time, at their
par value, at the treasury Of the Unit
ed States, and at the Offices of the As
sistant Treasurers in New York, Phila-
delphia, St. Louis, and at the deposito-
ry in Cincinnati, for any of the six per.
ceutum twenty years coupon bonds or
registered bonds which the secretary of
the treasury is now, or may hereafter
be, authorized to issue; and such treas
ury notes shall be received the same as
coin, At their par value, in payment for
any bonds that may be hereafter nego-
tiated by the secretary of the treasury;
and such treasury notes may be re-is-
sued from time to time, as the exigen.
cies of the public service may require.
There shall be printed ON the back of
the treasury notes, which may be issued
under the provisions of this act the fol-
lowing words: "The within note is q
legal-tender in payment of all debts.
public and private, aud is exchangeab!e !
For the coupon or registered bonds of |
the United States bearing six percent |
I'm interest" J
BANKERS OPPOSITION.
No sooner was the bill introduced
han great opposition was raised to it
throughout the country-more especi-
lily by the bankers. They could not
endure the idea of surrendering the
privilege of issuing paper money. 1t
vas too precious a right to be surrend-
red without a struggle.
Among the newspapers the Times
md Herald of New York supported it;
he Tribune and Commercial Advertis-
II could not quite swallow it, and the
World and Post opposed it. Delega-
ions of bankers from New York, Bos-
on and Phila delphia put in an appear
nee at Washington to oppose 1t. The
'ank delegation organized by making
J. A. Mercer, a Philadelphia banker,
hartman, and arranged meeting in
be Office Of Secretary Chase, at Wash
ngton, January II, 1862. The meet
ng was attended by Mr.. Chase, by the
'enate Finance committee. consisting
f Fessenden, Simmons, Sherman,
Howe, Pearce, Bright and McDougal;
Y the House committee of Ways and
leans, consisting of Stevens, Morrill,,
helps, Spaulding, Corning. Horton,
tratton, Hooper, and Maynard.
tTo be continued,