The midland journal. (Rising Sun, Md.) 1885-1947, 1894-02-09

Treasury has been unable to negotiate
A small portion of 1t, say sic, 000,0 900,
has been issued at Z $40 per cent in
payment of debt.
Gentlemen are clamorous in favor OF
those who have debts due them, lest
the debtor should the more easily pay
his debt. l do not much sympathize
with such importunate money lenders.
But widows and orphans are interested
and in tears, lest their estates should be
badly invested l pity no one who has
his money invested in United States
bonds. payable in gold in twenty years.
with interest semi.annually. But while
these men have agonized bowels over
the rich mans case, they have no pity
for the poor widow, the suffering SOL
dier, the wounded martyr to his
countrys good, who must receive these
notes without legal tender or nothing,
and who must give half of it to the
shylocks to get the necessaries of life.
Sir, wish no injury to any, nor with
our bill could any happen; but if any
must lose, let it not be the soldier, the
mechanic, the laborer, or the farmer.
Mr.. Shellabarger (Cong. Globe,
page 800, Feb. 6, 1869:
Now, sir, I think it must be plain,
beyond all cavil, that if these notes,
proposed to be issued under this bill
are made of the value imposed upon
them by law, so that they will be to the
citizen the true and real representatives
of that amount of the intrinsic wealth
OF the country, which is stamped by
law upon them as their nominal value.
then there can be no practical injury.
injustice or bad faith in the law which
makes them pay debt precisely equal
to that real value or wealth of the
country. which that note, SO made a
tender, represents.
Sir, all these obligations of this gov
eminent 60 out to the people borne up
by all the faith and all the property of
the people; and they have all the value
which that faith untarnished and that
property unestimable, can give them.
1t is not because they lack intrinsic
value that they need the quality Of
"lawful TENDER" but it is to secure to
the government in their issue their
true value, and to retain for them that
true value as you pass them-as all
agree you must-to your noble soldiery
in the field, and to all classes OF the
people not engaged, as the most per-
sistent outside opposition to this bill is,
in endeavoring to destroy the value Of
these. SO that out of the blood of their
sinking country they may be enabled to
coin the gains of their infamy.
There were many speeches made for
and against the bill. % motion of
Mr.. Crisfeld to strike out the legal
tender clause in the original bill, the
vote stood-yeas, ffty.three; nays,
ninety three.
Mr.. Horton then offered substitute
for the pending bill. The clause
bearing upon legal tender was as
follows:
The within note is receivable In pay
ment OF all public dues, except duties
on imports, and is exchangeable for
bonds of the United States bearing
z $40 per cent per aDnum. payable in
coin semi annually.
This. clause made the legal tender
junction a matter of merchandise, and
the substitute was rejected by vote OF
fifty.6ye yeas to ninety FIVE nays.
After a little modification of the
original bill it was passed by vote Of
yeas ninety three nays, fifty.nine.
Thus the legal tender act. after
protracted debate, and most deter
mined opposition. by prominent and
influential Republicans, as we'll as
Democrats, was passed through the
House by large majority.