The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1896-07-02

tory which afterward became the state
of Iowa Van Caldwell secured tract
of land on the Des Moines river about
20 miles above Keokuk, where the son
was reared amid the hardships of
frontier life His home was. close to
the Sac and Fox Indians, with whom he
became familiar.
Having keen intellect and broad
comprehension, he became proficient in
his studies, and at the age of II he en-
tered the law office Of Wright & Knapp
Of Keosauqua, Ia, as a student at
law. So rapid was his progress that in
his twentieth year he was admitted to
the bar, and very soon thereafter was
taken in as junior member Of the firm,
and at single bound he took rank as
one of the ablest young lawyers of the
state.
At the breaking out Of the rebellion,
he promptly enlisted and became major
Of the Third Iowa cavalry, and after
ward its colonel For untiring zeal at
the capture of Little Rock, Ark. he was
recommended by his superior officer,
General Dawson, for promotion
At this juncture, June, 1864, Abra-
ham Lincoln saw the Importance Of the
pacifcation and restoration of civil gov
eminent in Arkansas, and as a means
to this end he appointed Colonel Henry
O. Caldwell to be judge Of the United
States supreme court for that district.
It is said by another that ''he resolutely
kept his court out Of political entangle-
ment and displayed upon the bench a
high degree of tact and penetrating
common sense. He held the scales Of
justice so evenly that he soon acquired
the confidence Of the bar and the public. !"
Having occupied this position from
1864 to 1890, he was chosen to the
higher and broader field of circuit judge
for the Eighth circuit Of the United
States court Of appeals. This circuit
comprises the states of Minnesota, Iowa.
Nebraska, Missouri, Kansas, Colorado,
Arkansas, North Dakota, South Dakota
and Wyoming, covering nearly one
fourth Of the area of the country.
Notwithstanding the labor incident
to his position he found time to respond
to the call of his countrymen at different
times upon the living issues of the day.
The Monticello Fair association of Ar
kansas invited him to address them upon
the subject of Interest, !" which he did
Oct ID, 1886. The following extracts
from that address will indicate its char
acter, to wit:
The capital of this country in money,
and lands as well, is rapidly centering
in the hands Of few persons and cor.
porations in the towns and cities
AT the threshold Of the discussion it
may be well to inquire what money is,
who created it and what functions it
was created to perform
Money as measure Of value and q
legal tender in the payment Of debts is
creation Of the law. It may be gold.
silver, copper, paper or any other SUBJ
stance, but Of whatever substance made
its value as circulating medium and q
legal tender in payment of debts Is de-
rived from the laws Of men and not
from the laws Of nature. -
'.The constitution Of the United States
declares that the congress shall have
power - to coin money and 'regu-
late the valne thereof :
1.-The supreme court Of the United
States has decided that congress has
power to make money out Of paper, and
make that paper legal tender in pay
ment Of. debts
Observe, the grant Of power to con-
gress not only includes the power to
coin money, but also to regulate the
value thereof.
1.-THE present standard silver dollar
is'a legal tender in payment Of debts for
100 cents on the dollar, and yet until
the recent rise in silver bullion it con-
tanned less than 80 cents worth of silver.
The material Of which a $1,000 legal
tender note is composed is not as valu-
able as an ounce of cotton or an ear Of
corn. 1t derives its value from the law,
which makes it q legal tender in pay