The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1892-07-30
LEGAL TENDER MONEY.

In one of his late speeches upon the
Stewart free coinage bill Senator Nor
gan defined legal tender money as that
which will pay any debt, public or
private, without exception and without
regard to contracts or conditions. If
this view of the case be accepted as
authoritative the legal tender money Of
the United States is narrowed down to
one metal-gold.
Many people believe that greenbacks,
or treasury notes, silver dollars and sill
yer certificates are legal tender money.
But it appears that each has a string
upon it which keeps it within certain
bounds. All these moneys are taken by
the people and all are equally good in
general estimation, but an examination
into them shows they are limited in their
power to pay, not by the people, but by
the government which created them.
Take a treasury note, commonly called
a ',~greenback," and it is seen it is a legal
tender for all dues public ard private,
except duties on imports and interest on
the public debt. Here it is seen the
legal tender quality of a greenback is
limited. One can pay his taxes, his
private debts and buy land of the United
States with g~reenbacks, but he can't pay
the duties at the customs house upon
any articles he may import. The duties
must be paid in gold. The government
must also pay the interest upon its debt
in gold. The bonds stipulate the in
terest should be paid in coin. But the
republican party demonetized silver for
the benefit of the bondholders and SO
our gold goes to foreign countries to pay
interest on our bonds held by them.
Silver dollars also have a large string
to them. They are a legal tender for all
debts, public and private, like green
backs, except-that word except" is "A
bad one-the gold bonds and gold certiti
Gates. The silver certificates are in the
same boat. They can not be used to
pay Off the public debt or interest on the
government bonds, for they are payable
in gold. Mr.. Sherman's silver bill-the
present silver law-makes the silver
coined under it IA legal tender FOR all
debts, public and private, eXcept--ex-
cept a~gain-when otherwise stated in
the contract. Thus silver will not pay
"a debt where "a contract has been made
to pay it in other money. National
bank notes are as good as g%reenbacks, as
their solvency is guaranteed by the gov
eminent.
Therefore it is seer that under these
limitations we have no absolutely legal
tender money issued by this great and
powerful nation except our gold coins.
That is "a legal tender from the grog-
shop to the Office of the foreign holder
of our bonds. Gold will pay all kinds of
debts. But paper notes and silver dol
lars are limited in their functions. The
government that made them discredits
them at it's customs houses. The Gre
ator black-bal its creature. And this
10 oOiIC at tut ilblduCe anu lOT tHc Dcuc-
fit of the great money power of this and
foreign lands. The poor mans money is
not good enough for the rich man. The
republican party, which has run the
government during the past third of a
century, has created two kinds of money.
One is a legal tender among the laboring
men Of the country, but will not be ac-
cepted by the b%ondholder or by the gov.
eminent itself at its customs houses.
The other is gold, which is seldom seen
by the poor, but is gathered in and held
by the rich. Tie poor mans silver is
scorned by the money power-t the pluto
Gratis. They must have gold and SO they
take mighty good care that silver shall
not be remonetizcd. And in this the re-
publican party has been their faithful
friend and ally since the day that party
degraded the white metal in 1873.
11. L.