The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-09-15
STATES RIGHTS, OR POWERS DE.
MID TO THE STATES.

Correspondence of The Progressive Farmer.
l have written about money and
quoted Webster's dictionary on the
words ''coin money! until I have met
with a stumbling block. l want your
opinion or a decision or declaration OF
our Supreme court on a point In the
Constitution of the United States,
Sect. 10, clause 1, on powers denied
to the States" I read that mo State
shall coin money, emit bills Of credit,
making anything but gold and silver
coin a tender in payment of debts. "
The stumbling block and new discov
cry to me is this: What is meant by
the words, ''emit bills of credit9" Web
ster's unabridged dictionary page 1872
says in his Is III definition about bills
that a bill of credit is a bill or note for
raising money on the mere credit of a
State. So if we quote Webster on the
definition of the word "coin" we must
quote him on bills Of credit. Then if
the State can issue her bonds to borrow
money, why not issue silk paper as
money of the State instead of bonds?
Draw interest; but bills of issue as
money do not draw interest. 1t is evi
dent that a State cannot make any
thing a tender in payment of debts but
gold and silver coin, as between indi-
viduals, but suppose the State issues
on silk paper money and by act of the
legislature declares it will be receivable
for all debts and demands dues to the
State or taxes in the Counties. What
'then7 / think there is a dead lock in
the Constitution just here. What do
you and the legal fraternity say9
Please explain. It would be a kind of
money like the National banks or State
banks, not lawful as q tender between
individuals, and State bonds issued to
borrow money is in the same category.
How is a State compelled to pay her
bonds9 What to sue and what to sell,
and in what court9 Discussion pro
duces light. Please turn on the light.
1t must be only on the honor of the
State that bonds are ever paid. IT is
suing bonds on the State to borrow
money is not emitting bills of credit"
and in the face and in the teeth of the
United States Constitution according
TO Webster's definition, pray tell me
what isl President and Custom cannot
over ride the Constitution of the United
States.
This is a point I have W closely
examined before to ''emit- bills of
credit " is whats Pray tell me. If we
can violate the Constitution in n
point we can in another, and coin
money and make it a legal tender and
use Spanish mill and Mexican silver
dollars and ask Congress no odds.
What then need we care if Congress
does refuse to put a Mexican silver dol
lar at a value of 100 cents 80 as to reg
ulate the value of foreign coin. Sins
of omission and Gins Of commission are
Us. Sherman states the laborer
will be paid in a silver dollar worth So
cents if free coinage of silver is allo wed,
but he concealed the fact that a law OF
Congress to make and unmake money
a legal tender over rides his argument.
He relies on the laws of commerce,
other nations, bankers, bondholders
and money changers to sustain him.
Forgetting that the larger portion of
our people live at home, trade at home,
and do not trade in foreign lands and
that they are the ~custodians of liberty
and free government.
J. II. FOY.