Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-08-04

ers OF its obligations to dictate the
money In which they Will accent pay
ment. When the government dis
credits Its own silver dollars and
treats them only as token money, there
Is no power on earth. either by inter-
national negotiation or by legislation,
that can prevent gold from approclat-
ING In value. compliance with the
demands Of the Democratic platform
Tor the use of both gold ana silver as
standard money and the enforcement
OF existing laws viii make every hold
er OF government obligation equally
interested with the United States in
maintaining the commercial parity be-
tween gold and silver"
HOW do you understand the terms
ana character OF the contracts between
the United States and the holders OF It's
securities?"
There is Misunderstanding in the
minus OF many Intelligent people
touching the terms and character OF
the contracts between the United
states and the holders of its securities.
Ihey nave fallen into the error of sup
posing coin means gold only, but such
Is NOT the law. Every obligation OF
ms ms government, whether Interest,"
bearing bonds or otherwise. Is payable
IN SILVER, at the option OF the govern
meht. The act of congress- TO
strengthen the public credit. approved
March is, 1896. and the act OF con-
gress approved July Il. 1870. authorize
ing the refundins OF the national debt,
declared bonds to be redeemnble In
coin and the interest TO be pavable
also in coin. The act of congress an
proved July Il, 1875. providing for the
resumption OF specie payments. pro-
vldes that the bonds issued under au-
thority OF said act shall be OF the game
description OF the bonds issued under
uF a ~ - N..n
january ~, 1873, after reoitlng the va
rlous acts under which bonds were ia
sued and for the purpose OF more
clearly ana distinctly defining the law
on the subject. the following declara-
ION was made by the congress Of the
United Statesi That all the bonds or
the United States. issued or authorized
TO be Issued, under said acts OF COM
gross hereinbefore recited, are payable.
principal and interest at the optlon OF
the government OF the United States. in
silver dollars of the coinage Of the
United states containing 1925 grains
each Of standard silver, and that 10 re-
store to It's coinage such silver coins
ms legal tender in the payment Of
said bonds, principal and interest. is
not In violation OF the public faith. nor
IN derogatlon of the rights OF the pub
lie creditor.
Early In the present year President
CleNelahd, IN a special message to con-
gress, asked FOR authority TO sell a 3 per
cent. gold bond IN lieu Of the 4 per
cent coin bond but the house Of rep
resentatives by decisive vote refused
TO give him that power. And vet IN
the face OF this refusal and with full
khoWledge that every bond OF the
United States is payable at the option
of the government In silver, tho 4
per cent. coin bonds were sold TO the
Belmont-Morgnn syndicate at about
100 l-2; but these same coin bonds arc
now selling In the market at f23 The
purchasers Of these bonds are equally
interested with our government In
making our silver dollars worth 400
cents in the markets and IN the pay
ment OF debts" A. q ID.