Daily capital journal. (Salem, Or.) 1896-1899, 1898-03-23
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PozTLsxD. Or. Feb. !. Iss-
To THE EDTTuR--Tbs cIosinx par
szrzph fn the editorial in t0ozy's
Orex0oizo gn5sr tie espti0n TIE
History q Rep05isii3n. ssys-
The Aueucsn peopls voted Dan
s-this secood rsp25isftoo mOTsnssnt
''of ISIS. aud 1pE. after tEentT years.
sEe hare reV0distion's disz8stinz
sd c0Tpse again 10 state q res1r
'srectiOn IN shape q . rssolUtIoo re
Teller rss5Iutiool shich DoE sPpIieS
.'to 3sz.0a0.OCO bOo5s sold 10 sod
'sfzith foT gid sioos Igs5,'
Wherein NOgid rep1diztioo lies
DID not the bood-bsyers oGers 70
pay more n8orey fOr The boO5s II the
xovernment would speciscslly state
that they EOgid Be peid 10 gold /:
Did not Secretary Carlisle ask q con-
zress f0r Authority % inssrt the word
gold 10 the bo0ds, reDresen.iug
that they would realize sorDe s1s.O0O.-
90 more foY the bonds II given such
zutb0fltyE z Did Dot congress declare
that tbsy would uOt stip1lzte 70 pay
the bonds 10 "goid-E Did cot Con-
xrsssmsn GfosveDOr, . republican,
say that be would gladly pay the sd-
ditiOnsl sIsyOoO.cD0 70 preserve 70 the
people the option % paying 10 either
gold o. silver.
Having paid 20 dearly for that op-
too, why should not tue people eI-
ercfse il.
Why should not the bankers live Up
" the strict letter Of the contract
Did they come forward % help the
government. and pay the worth Of
the bonds and rely upon the good
faith o. the people % repay them, and
~ N1y Ll[Al ~ Ela1 W
They drove a spzrp barzain and Ob-
.tsiped the hoods at sl.04i when at
the time similar coin bOuds having
only twelve years u run, brought in
the market sI.I2
The secretary Of the treasury. Mr..
Gage, himself national banker, did
not have the temerity 20 say that
these bonds should be paid 10 gold,
Tor. upon being asked that question
By a member Of the banking aud cur
rency committee. d the house, 10 nis
recent examination before that body,
he said as follows: Page II Of the
statement q Hon. L. j. Gage, 10
answer tO the question Of the chair
man, why do you exclude these
bonds -
Secretary Gage replies: ''FOr two
reasons. They run long time, and
ia the act OF congress By which they
we're sold, congress specifically re-
fused 10 make bond payable in gold
at any time, and paid large amount
Of money rather than to do that. And
l preferred 70 let that question
alone
They made their bid knowingly, and
with the full understanding that they
would be paid 10 either coin at the
option Of the government; and they
will yet be paid.
IL all very well for the national
banker TO shout and prate about
sound money" and an 'honest dol
lar" What kind Of money do they
promise TO pay They insist that
every one shall pay them in gold, but
reserve to themselves the privilege Of
paying in the cheapest dollar to be
had. Those who demand equity
should do equity. Have they ever
agreed 10 pay ''gpld ?" Let m ask in
the words Of another:
"In what currency have the ma
tiOual bank bills OF the United States
been redeemable and redeemed in the
whole thirty-hve years since they
were created? HaYe these bills ever
been redeemable ln gold? Never
Never! Have they ever been re-
deemable 10 silver? Never Have
they ever been redeemable 10 coin
Never. HaYe the national banker $
ever teen obliged to keep anything
but green backs Ia reserve against
their outstanding promise to pay
Never That is to say the national
bankers have, by the law, for full
lifetime heen permitted and author.
ized 10 redeem all Of their own Obli-
cations In fat money pure and simple;
single dollar in gold or silver has
never been exacted in payment from
any national banker for the notes
which the government has given him
as free contribution 10 his welfare. ="
These national bank notes are not
legal tender, and they are not 20 be
redeemed Ia gold, and yet the bankers