Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-10-05

NsAtA r. ts7tttT- a4flfh ~ WIN stAN
coins mintod for individuals by the
Government Who redeems them?
Aud in what. pray. does the Govern
ment redeem its gold coin2 Does the
Governments redeem even the silver
dollars? II so, in what does il redeem
them?
But again, what does Mr. Mills
mean by money which is receivable
in the settlement of balances, &c
Does he mean to be understood that
there is in the whole world or ever
was since history began any money
of any kind. receivable as money,
standard or otherwise, in the .settie-
ment of balances between different
peoples or nations, which the debtor
can oblige his foreign creditors to take
at a fixed valued And if he does not
mean that, what does he mean more
than a Juggling with words2 If AR
Mills SAYS there is or ever was such
money. will he kindly tell Us what tits,
who coins it, who fixes IFS value, and
gives il its standard character2 Now.
assert, that there is not now. in lhe
whole world any such money. and
there never has been, at least since
Rome ceased to be mistress of the
civilized world. if there was then.
Great Britain even, does not take
our money as money in payment OF
what we owe her people Our mint
stamp does not, for the purpose of
buying goods or paying debts in Eu-
rope, add in the slightest degree to
the intrinsic value of the metal in the
coin Our mint stamp is accepted as
certificate of the fneness of the met
III i'm our coins, but not Of their weight
Sold coins abrade rapidly and lose
chit in use. therefore, while new
might. in some cases. be accept
q, IL the mint stamp certificate Of
weight as well as fneness, by those
who understand our coinage. those
that have been worn Will not be-
They are weighed. and taken at the
value of the metal they contain. The
Bank Of England treats even British
sovereigns in the same way. If Mr..
Mills should take to that bank a NUM-
Der of soyereigns to deposit, or to OBJ
tain for them Bank of England notes,
or exchange. he would be credited
with the value Of their weight and not
with their number His sovereions
would be put into machine which
weighs each one separately, and au-
tomatically throws the light ones into
one compartment. and those of fuA
weight into another For those of full
weight he would receive bank notes
credit or exchange to their face value
for those of light weight, the Walt of
the gold they contain nj price per
ounce fixed by law. The loss being
borne, not by the British Government
/ (Which the Bank of England represents
in the transaction but BY Mr. Mills,
i'm the case supposed. The light soy
ereigns are never reissued but are
melted. The owner of these soyer-
eigns is not obliged to tlle them TO
the Bank and sell them in that way.
/ He may pass them, if he can Get any
| body to take them, (when worn they
are not legal tender as full weight, or
| he may melt them himself. or sell
them to any one else. They are new
er redeened bv The GoverDmenf. They
are simply bought al the price of the
| gold remaining in them. And in like
manner, if citizen of Great Britain,
or any other foreign country, owes a
debt to Mr.. Mills in this country. he
cannot pay that debt or settle 'that
balance in British gold or silver coin
/ or in any thing but the legal tender
coin Of this country, unless Mr.. Mills
chooses to receive it. at price or val
ue that his debtor and he may agree
upon. There is no power on earth
except our own government and that
does NOT DO 50. which can compel an
American citizen TO take British coin,
at any value whatever. unless he
chooses. or has bound himself to d0
so. in payment Of debt owing to him
! by an inhabitaut of Great Britain or
in payment for his property. And on
the other hand il is equally certain
/ that there is no power Xcept the laws
Of his own country. which can compel
an iuhabitant Of Great Britain. or any
other foreign country 10 accept iii
payment Of debt owing to him there,
or in payment for his goods, our coins,
either gold or silver, at the value Gzed
upon them by our laws, 81 even e.
/ their intrmsicya de. unless lac choose.
or has bound himself TO do So.
Mr.. Mills -toop9 down from lis Iaf
perch and asks me whether he is d.
infer that the Pequot Indian could
settle his accounts with the London
merchant. using waupum Of cour-a
not. uules, the London merchant ~as
lit TO take wampum. Just a We can
not settle our accounts with q London
merchant now. in our gold or silver
coins, unies, he secs tit to take them
al a price when be thinks viii enable
+ him to sell them there tor bullion 81
send them back here in exchange foi
oar productions.
But wh} did Mr. Mills ask such
question stated in my former com
municatiou. III language plain euou-
for even him to hate understood. itHs
had read it, that Wampum was per
Fs.,.+ ,..-..fe-4- ..,.r.4.4+ -g. fv,Hfs, IN.