The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1895-03-22
THERE is vast amount of financial

THERE is "A vast amount of financial
wisdom wasted on the desert air i'm
these days OF financial discussion. A
great many people talk learnedly on the
money question, and not few who
have made complete failure in the
management of their own limited tinan-
ces, have plans, the adoption of which
would, in their own estimation, prove
panacea for all the financial troubles
of this great nation of seventy millions
of people. And yet that which large
proportion of these financial wiseacres
do not know about national finances
would make even larger and more in
structive book than Coins Financial
School. In this connection it may, per-
haps, not be amiss to enumerate the
different kinds of United States cur
rency and some of the different proper
ties thereof. Legal tender; what is it,
1t is any kind of money which, by law,
a debtor may require his creditor 20 ac-
cept in payment, in the absence of any
any specific kind of currency. This
embraces, 1st-All gold coins of the
United States when not abraded or
worn so as to fall below the standard
of tolerance. 2d - Standard silver
dollars, which are legal tender in any
amount for all dues both public and
private. 3d-All United States silver
coins of less value than "A dollar, which
are legal tender in any sum not eX-
ceeding ten dollars for all dues both
public and private. 4th-Pennies and
nickels which are a legal tender for any
sum not exceeding twenty-five cents.
9Th Greenbacks, which are legal
tender for all debts both public and
private, except duties on imports and
interest on the public debt 9th
Treasury notes issued for the purchase
of silver bullion, which are a legal ten.
der the same as greenbacks and are
also receivable for customs and all pub.
lie dues. 7th-Columbian halves and
quarters, which have the same legal
tender qualities rs other subsidiary
silver coinage. Sth-Gold certificates
and silver certificates, which are not a
legal tender at all, but are receivable
for customs and public dues 9th
National bank dues, which are not a
legal tender, but are receivable for all
public dues to the United States, except
duties on imports and interest on the
public debt. Foreign gold and silver
are not legal tender to any extent.
Treasury notes are redeemable i'm coin,
either gold or silver, at the option OF
the secretary of the treasury 1t has
been customary to redeem them in gold
whenever that metal is demanded
Since the close of the war, all govern
ment bonds hvve been negotiated for
gold coin or its equivalent, and they are
redeemable in coin, either gold or silver,
at the option of the government only,
and not at the option of the bondholder
The so.called decentralization of silver
did not deprive it of its legal tender
capacity, and there is at the present
time larger use of silver and silver Ger.
tifcates than of gold and gold certifi.
T Gates. Doubtless, still greater use OF
the white metal is desirable and would
be for the welfare and prosperity of the
people. Free coinage, under proper
safeguards, is the desira BILE. ultimate end
To be reached. The NoRTHERNER be-
lieves that the wisdom of the republi-
can party is sufficient to successfully
solve the silver problem as it has sue
cessfully met and solved the other grave
problems with which it has had to deal
during the past third Of q century and
which have passed into history as a
large part of the unexampled growth
and prosperity of this nation during
\ that period.