Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-09-24

4 supposed he is the same person
Mr. Dawes-There is no doubt
about that fact, (See page l25 Con-
gressional Record, December l2,
1871
We will now take up the credit
strengthening act of 1869 and the
one demonetizing silver IN 1873.
We have before stated that the
mintage law was the same from 1892
to 1873 and showed also the pros
perity that followed the free coinage
OF both gold and silver up to 1873.
The $40 bonds were made payable
in lawful money, the 1905 were
made payable in greenbacks, lawful
money. both interest and principal,
and other bonds and issues were
made payable in greenbacks alone.
Now by the credit strengthening act
Of 1869, the above named bonds were
all made payable in coin, thereby
strikingou the redemption features of
green0acks as was specifically stated
IN the bonds when sold. Gold and
silver was then the primary money
OF the country, and the money in
which the bonds had to be paid ac-
cordlng TO the credit strengthening
act of 1859. This was the beginning
of the oamnable outrage that was TO
be inflicted by money kings upon the
public by the act demonetlzlng silver
In 1873, introduced by the same man
that had given the country the act of
1869. That man was John Sherman
of Ohio, then boasted to be the
greatest 6nancier of the age, but his
tory has proved differently as the
present hard times witness.
This act of 1873 changed the unit
of value from silver to that of gold
and reads as follows:
"That the gold coins of the United
states shall be a one dollar piece,
which at the standard weight of
twenty-five and eight-tenths grains
shall be the untt Of valne."
AS was above stated the bonds that
we're made payable in greenbacks
were by the act of 1869 made payable
in coin, and now by this act of 1878,
silver was demonetized which made
the bonds then outstanding and
all subsequent ones, payable in gold
and gold alone, principal and inter-
est.
1t is plain to see the great and ir-
reparable wrong done to our financial
system. The bonds as written were
made payable in greenbacks, and the
green backs were redeemable in coin,
then they demouetized silver making
both the bonds and greenbacks re-
deemable in gold. See the mistake.
Instead of the bonds being redeem
able in greanbacks or coin, they were
made by the act of 1873 redeemable
in gold, thus just doubling the origi-
nal amount by contracting the re
demption money and making them
all redeemable IN gold when at first
the bonds were payable in greenbacks
and the greenbacks IN coin; but now
by this act they were both made pay :
able in gold. If left as the contract
called for the bonds we're payable in
enbacks and the green backs were
redeemable IN coin, thus saving the
country just one-half what it has cost
| by this criminal act. The people
never knew of this bill until it was
passed. 1t never left the committee
room only when it was voted on and
passed, and it was never openly de
bated on the floor of Congress. Now
| American voter what do you think of
J that? Was it not pretty smoothe
piece of business? Think Of one man
! being able to exchange the mintage
laws of the United States so as lo
work such havoc as it has? Think OF
the money power through their agents
IN congress passing such an infamous
law as that? Is it not high time we
were arising and placing the finances
OF this country where they were for
eighty-one years of thrift and pros
perity from 1892 to 1878.
TTO RE CONTINUED