The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1892-06-03

Even Judas sold his Lord for thirty
pieces of silver; but Harrison estimates
the price of his Lord and Master in
gold,
Here are some "reminiscences
whisky rings. stai route frauds, Credit
Mobiler, Blaine and Cleveland scan
dals, Hayes rilden job, solid south, the
bloody shirt, the Mckinley bill, Raum
investigation and the Wyoming cattle
war. The Glamour vanishes, the Jack
daw is plucked, and the lions skin
falls of. The g. o. p. stands on its
record.
Here are some facts: The first $780,
100000 legal tender treasury notes
were at par with gold and were often
at a premium. The date of these acts
for tt e issue of this money were Aug
ust 6, 1861 and February 8, 1862.
The money kings of Wall street
graciously rendered loans to the gov
eminent from "a to So per cent in 1861.
The people took the national money,
priced it and held it at par with bank
ers' boarded gold. Soldiers were Civ
ing their lives ON battle fields, and
patriots were rallying to the defense
of the nation.
The act of February %, 1862, pro-
vided for the issue of $3.50, 000,0 900
more of greenbacks. Wall street be-
came alarmed. Bankers from Boston,
New York and Philadelphia met at
Washington and secured the exemp-
tons on this issue, except, etc. Shy
lock had made market for his cow
ardly gold. The soldier, the sailor
and the citizen was not considered.
Three series of $3.50, 900, 900 each of
these greenbacks bearing this national
disgrace of the exemption clause were
issued by the acts of February 20, 1862,
July II, 1862 and March 8, 1868, max
ing in all $3.50, 900, 900; and also with
the first series, 100000, 900 5-2O bonds
were issued
Then followed the refunding scheme.
Greenbacks purposely deprecated,
gold goes up to 2.S5. Bonds are bought
in this deprecated currency at their
face value, or for about 60 cents on
the dollar, and are finally paid prin-
cipal and interest in gold.
The first national bank law passed
February Is, 1868, and was introduced
by John Sherman. On March 3, 1868,
six days after the passage of the ma
tional bank law, 5000, 900, 900 of 10-40s |
were issued bearing 6 per cent interest,
but of this gross amount $500, 100000 |
were three years gold-bearing interest |
notes.
On June 80, 1864, there was issued |
$400, 000,000 Of 7-30s, making it all |
81, 800, 100000 Here was a grand |
chance-depreciate the greenbacks,
food the market with interest bearing
bonds, buy them at face value with
deprecated currency, and turn them
into gold principal and interest.
Now when the greenbacks were re-
funded in bonds the money was retired
TO make room for the national bank
notes. Now it will be remembered
that the interest on these bonds was
paid, semi-annually in advance in
gold, and on March II, 1864, when
gold was at high premium. there was
a provision for the payment of one
years interest in advance without any
rebate. This was great speculation
and the "speculatorn could on $35. 900
in gold realize $4,000.
Now follows contraction of the cur
rency. There was 100000, 900 legal
tender notes, treasury notes, certif-
Gates and bonds used at this time as a
medium.
Hugh Mccullough was secretary of
the treasury, and by the acts of Sep
TENDER II, 1865 and April II, 1866 he
was authorized to retire the legal
tender notes, and in q little over one
year he retired about 100000, 900.
The people felt the pinch and de-
handed that it be stopped. and the
act of February 3. 1868, prohibited
their further retirement and dcstruc.
ton.
Previous to 1869 bonds of the gov
eminent amounting to 81, 5O0,OO0,000
had been sold. They were held in this
and also largely in Europe
the interest was paid in gold,
the principal was to be paid in lawful
money.
On March IS, 1869, congress passed
an act known as the credit strengthen
ing act that these bonds should be paid
principal and interest "in coin" The
standard coin then was gold and silver
the gold had been accumulated by
taxing the people through the war
tariff. On the 18th Of February, 1873,
silver was demonetized, which made
these bonds payable in gold alone.
On January "a, 1875, congress de-
3lared that specie payment should be
resumed on January /, 1879, at the
,ub-treasury in the city of New York.
N sums not less than $50 dollars.
Here is a confederation Of yillanies
hat would make the devil himself
blush. Here are the effects. Failures,
rom 1868 to 1866. aperiod of initiation,
1907. Failures from 1867 TO 1870, a
period of contration. 1874. Amount
involved in former period, $50, 401 200.
IN the latter period, 1914, 169, 009.
We hear Mephistopheles say, vote
he republican ticket.