Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1896-10-24
"rtnrd Money" ON the Issue.

dishonest" "communistic, and
"anarchistic, led me to look into
this question of honesty"
Farmers Of every land are the most
conservative, and generally the
farthest OF all citizens from COM
munism and anarchy in their politics.
1t seems strange that the great body
of conservative farmers OF America
should become all at once the very
opposite Of themselves.
l find that this cry of dishonesty,
on the part of the gold standard ad-
vocates, savo-s much OF the robber
who turned attention from himself
by running and crying at the top OF
his voice stop thief, stop thief"
The first war bonds, or first bonds
issued for the war debt, were pay
able in current money of the United
States
These war time bonds were funded,
or refunded, into bonds payable in
'coin." Coin of the United States
was at the time of the issue OF these
bonds made of gold or silver. The
ratio was 1G ounces of silver equal to
one ounce OF gold, now abbreviated
into the familiar ZIG to l." Coinage
OF both metals was free and unlimi-
ted. These "coin bonds" are the only
bonds of the United States in ex-
istence. No gold bonds" or bonds
payable in gold, have been issued by
the United States. The effort OF
bondholders and brokers to make 1T
appear that these "coin bonds" are
not honestly payable in coin, that is
silver or gold, 16 to 1, at the option
of the government, is an effort to
collect more than the bond calls for,
more than was promised. This can
be proven by face of the bonds, by
the express declaration OF Congress,
and by the history Of the issue and
sale of the bonds.
The face OF the bond promises
COIN not gold" Congress in 1878
passed a joint, or concurrent resolu-
ton, which is as follows;
Resolved by the Senate 1.-THE
House of Representatives concurring
therein), That all bonds of the United
States issued, or authorized to be
issued under the said acts of Con-
gress hereinbefore cited are payable,
principal and interest, at the option
of the government of the United
States in silver dollars of the coinage
of the United States, containing
4124 grains each of standard silver:
and that to restore to Its coinage
such silver coins as legal tender in
payment of said bonds, principal and
interest, is not in violation OF the
public faith or in derogation OF the
rights of the public creditor"
This joint, or concurrent resolution,
of the Congress of the United States
is forever q vindication of the honesty
of those who propose to pay these
bonds in silver or gold, and is con-
yincing proof of the dishonesty OF
those who demand payment Of these
coin bonds in gold.
The Congress of the United States,
that branch of the government which
framed and passed the laws authoriz-
ing the issue of bonds, IS years ago,
one year before the resumption OF
specie payments, declared and pub
lished to the world what kind OF
money was meant by the term "coln"
in these bonds. No higher authority
as to what these bonds call for can
be had. Iv says, the government
bond is honestly payable in silver
dollars of the coinage of the United
States, containing 412i grains, each
of standard silver.
This concurrent resolution also
affirms the honesty of coming such
dollars in order to pay these bonds.
1t declares that the government OF
the United States may restore to its
coinage the standard silver dollar
as a illegal tender in payment OF its
bonds, principal and interest,"" and
that such restoration of the coinage
and legal tender power of the silver
dollar is not violation of the pub
lie faith" nor in "derogation OF the
rights of the public creditor"
Thus Congress aflirms most clearly
the honesty of restoring to the
coinage the standard silver dollar,
and that such dollars are honest
legal tender in payment of govern
ment bonds and all other debts OF
the people. The government bonds
then were sold as 'coin bonds" pay
able in silver or gold 1G to l. They
were bought as coin bonds" pay
able in silver or gold 16 to 1. If any
one has sold or bought government
bond for anything but "coin bond, "
payable in silver or gold, 16 to 1, the
seller was guilty of fraud and the
buyer was defrauded. But no bonds
of the government have been sold
for other than what their face rep
resents, that is "coin bonds" pay
able in silver or gold, IL to l.
Since the beginning Of Mr.. Cleve-
lands last term we have witnessed a
most determined effort, on the part
of Mr.. Cleveland and other gold
standard advocates to induce Con-
| ,roec RI au+hori1e thn Issue of bonds