The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1898-03-04


four per cent. bonds Of the United
States issued under the acts of July
IA 1870, and january 20, 1871, upon
presentation at the of,ce of the
treasurer of tho U. s., Washington,
d. O., il. sums of $50 or multiples
thereof
These, it will be observed, are con-
ycrtible into bonds as those last de-
scribed, and hence are to be con-
structed like the other 1 per cent
bonds.
The fourth itom of this indebted
ness is $l00,OO0,000, due in 1904,
and are the bonds issued by ePresi-
dent Cleveland in 1894 and 1895,
on the ground that is was neces-
sary to maintain the $10O,O00,00O
gold reserve. I give copy Of
the body of ono on these bonds:
THE U. g., OF AMERICA.
| Are indebted to or as.
signs IN the sum Of one thousand
dollars. This bond is issued under
authority Of an act of congress en-
titled can net to provide for the re.
sumption Of specie payments" an-
proved January fourteenth, eighteen
numbered and seventy five, being one
Of the descriptions of bonds described
in the act entitled can act to au-
thorize the refunding of the national
dobt," approved July, eighteen hun.
dred and seventy, as amended by the
act of January twentieth, eighteen
hundred and seventy one, and is re-
deomable Mt the Mt the pleasure of
tho United States after tho first day
Of February, nineteen hundred and
four, in coin of the standard value of
the United States on said July four
tweenth, eighteen hundred and
seventh, with interest in such coin
from the day of the date thereof at
tho rate OF Of five per centum per
annum, payable quarterly on the
first day of February May, August
and November in each year. The
principal and interest are exempt
from the payment of all taxes or
duties Of the United States, as we'll
as from taxation in any form by or
under State, municipal or local au-
thority.
transferable on tho books of this
Office.
The fifth item consists of $162,-
3l5,4O0, bonds due February 1.
1925. These bonds were issued by
President Cleveland in 1895 and
1895 to replenish the geld reserve
for the third and fourth times during
his administration and under same
form as that just given in the one
hundred million issue
This completes the description of
the outstanding interest," bearing debt
due by the United States. and the
bonds, of which I give copies, are
tho obligations and all the obliga-
tons to which the resolution refers.
Tho Republican party has sailed
under false colors for years, and the
resolution now pending will land
them, about S o'clock this evening,
when the vote is taken, square on
the single gold standard side.
MIR. Speaker. that party has claim.
cd for years to be the friends OF the
people, as against monopolies, cop
porate reed, bonholders and capital
lists. But, sir, the veil that has
partly obscured the deceptive atti-
tude of this party will Boon be raised,
and, in my judgment, you will find
them voteing to man, under whip
ofthe party lash, to change the con-
tract written in every bond issued
by the United States government
when they were issued and under
stood by tho holder, that the govern.
mont Of the United States should
pay these bonds in coin.
In fact, Mr.. President, not one OBJ
legation ever issued by this govern,
mont was payable in any other
money than coin or currency, and tho
fact which no intelligent man on
this aoor will deny, is that these
bonds up to 1865 were bou,,.,t by
the bondholders for greonbacks
at from 30 to go cents on the dollar
of "coin,' silver and gold, Now
these bondholders are demanding