The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1892-11-05
Brief Chronological Statement
OF 's'EzE FINANCIAL LEtsISLiTEON
IN THE UNITED STATES
From $50 10 1891. Inclusive. show
ing the Responsibility of the poIiti-
cal Parties for Such Legislation.
36th Congress-Warch !, 1859, To
March /. 1851.

House democratic. Senate democratic.
Buchanan (dem.), president.
The expenses Of the government for
the year 1860 We're 81 ,64S, 6G5- The
population of the country was 81 443,-
32l- The expenses per capita was 81 p.
The expenses of government 10 each
family was $1110 Rate Of tariff tax in
1860 WAS nineteen per cent. Amount Of
money in circulation was S435, 407 252
Circulation per capita was sl3 So.
Price OK cotton was IL cents. Price If
corn was 64 to % cents per bushel,
wheat 81 30 to 81 10
37th Congress March !, SCI. 40
March 1, 1868.
House republican. Senate republican. !
Abe Lincoln Crep.), president.
July II, 1S6l-government began 10 /
issue demand notes. The act OF Julv /
nth, 1861, August 5th, 1861, and March /
17th 1862, made $50, ,000 Geo Of notes /
legal tender August l, S62-Congress /
passed act to deposit government money |
in the banks without interest january /
/. 1862 Suppression Of specie payments. /
Gold and silver no longer paid on debts. !
February %, 1S62-Congress passed act
to issue greenback currency. also t. issue
United States bonds, exempt from taxa
ton, with interest payable in gold.
Gold for the bondholders, greenbacks
for the soldiers and laborers and farmers.
February IS. 1868 National banks act
WAS passed, which put the currency un-
| der control of the capitalists These
banks issued national bank notes, based
on bonds. The people pay the interest
| on bonds, securing national currency.
3Sth Congress--Tarch 4, 1863, TO
/ Narcs. L. 1865.
House republican. Senate republican.
Lincoln (rep). president
March II, 1864-Act passed to allow
the Secretary Of the treasury to pay the
interest on bonds in advance, before it
was due, establishing system Of rob
berry that cost the people millions Of dol
lars. Also to allow the secretary to sell
gold, and let him play into the hands Of
the Wall street gamblers, who bought
bonds with cheap paper money and got
paid their interest in gold. They mani
pulated these bonds so that with Sl00 in
gold they bought bonds calling for $500
ard these same bonds have since been
put up in price until now they sell foi
1880 in gold. And all the y bile the in
terest has been regularly paid in gold
Thus the sharks have made their great
fortunes at the expense OF poorer people,
the workers and the tiilers Of the soil.
Act Of March 3, 1865, made bonds non
taxable.
33th Congress~-March 1, $50, TO
March i, 1867.
House republican. Senate republican.
T ;na0lu ord Tobpcnp (rot,c 4 ,,-fci
, dents.
r Act of .Ao-l -, 1860. -supplt-,neajsr7
: to the act OF sIarch 3 1865, nfovided 70
t the funding Of the national debt into sil
per cent, non taxable bonds and the De
; struction of,greenbacks. contracting tn
currency and adding to the burdens O
! the people by making them pay interest
: Also act of 1865 taxing State bank notes
ten per cent.-driving them out Of exis
d tence so as 10 make room for nationa
banks, and depfiViGg the state iegisls
Q lures OF ther old lime right to provid
0 currency for the people Of their respec
tive States.
4Oth C0ngrcss--1Iarch :. 1867, 10
rIarei, 4, 1869.
r House republican. Senate republican
Andrew Johnson rep), president
2 March IS, 1869 Act passed. f1u
q years after the war, 70 Strengthen th
h public credit, under which the oondho
= ders were to be paid the principa ,
. their bonds in coin, although the bon
s was originally payable in greeub2cks
n The people robbed of hundreds of mi
lions of dollars The bondho,dtrs an
IS Wall street fatten on their Ill gotte
J. spois, while the people groan under h
burdens imposed upon them. The pre-
It cess Of contraction continues ana Ii
5 people suffer
~ 4ist Congreae--zarcb ., 1869. 90
e March 1, IS1i-
L House republican. Senate republican
IL Grant (IepD, president.
July IL, 187O-Act passed TO refun
the national debs into bonds runnin
ten, fifteen and thirty years. lntere
Or again made payable in coin, while II
is DEBT was contracted in paper, this beiu
, another discrimination against the pc
y ole and burden on the country fJr I!
be- advantage Of the piutocrats. Janual
: IA. 1870 Randall bill to substiru
i grteubacks for national bank notes q
80 teated by the republican vote. Janua
mr. 81, 1S70-ResolutiOns 10 pay the de
nf according to the contract whether
g:eenbacks or in gold, defeated by l
.ee publican house.
nc 42d Congre>s-Narch i,1s7i,co uar'
I 4, 1873.
all House republican. Senate rcpuo.ica
I'd Grant (rep). president.
30 Act Of February 12th, 1878, was pass
ce regulating coinage of the mint. II
We act prohibited the mint from coming /
an silver dollar piece aud made tie e,
dollar piece The standard dollar. II al
ais authorized the coinage Of the trade d
lar. This was done upon general sta
eel ments that the new law made no paI
on cular changes, but v as only regUiauC
.on for the mint Attempt made by he
N pubicans 70 pass the civil rights Jill.
&c 43d ConGress-uarcI, I,Is73,to War
his i, 1874.
OF House republican. Senate repu 1ac'
Grant (rep), president
June %. 1874 Revised statutes ado
ed In this a change was surTeputlou
made, declaring that the silver co
MS should be legal tender only to toe l.moi
esl- five dollars, go that the silver dol
ter piece, always before full legal tend
he was put On the footing IF halves d
Mr.. quarters, ana silver was thus thoruug
re- demonctized. the minis forbidden
nee coin the silver dollar, AID il full le
ub- tender quality being taken away.
tempt made by republicans to pas c
rights bill. January Il, 1873
passed to resume specie payments IN
and nary, 1879. and the burning Of gre
to backs continued in order t. contract
! Of currency.
old nth Congress March !, 1875,
I a March 4, 1877.
de House democratic Senate republic
mo Grant (rep J, president
/ be June %, 1916 The fraud in dem'
ish- tizing silver beng disc 1vered, the d
ocrats passed q bill remonetizing 81
and for free Coinage Of silver. Dec
scar Der l3, 1S76-The democratic house
,,e a,C4Ler fraa ,C-~4r,a hin At.up.