World's cresset. [volume] (JAH-ville [Colony], Fowler, Mo.) 1891-19??, 1908-04-09
ever fail them and it is an album.

aant one for every purpose.
Treasury bill thrown into circu.
lation will take the place of so
much gold and silver"
President Jackson in his mes
sage 1899 said, II submit to the
wisdom OF congress whether a
national currency based ON the
credit ofthe government and its
resources might not be devised"
l claim no convertible paper
money that rests on o :promise to
ray is suitable AZ currency.
None can doubt but that the
credit Of government is better
than any bank. Legal tender
paper Is usually issued in times
of war When gold is boarded or
exported and in consequence it is
put to the severest tests possible
those Of an imperiled govern
ment, disturbed industry, i'm
pended foreign trade, yet his
tory abounds with proofs of its
entire effiency.
In 1856 the republic of venice
established a system of paper
credits which served as the main
circulating medium for six end
one half centuries. This money
was always ut par or at pre-
MUM over coin.
In ITO Russia issued its own
notes which sustained the gov.
eminent through two wars and
commanded a premium over
coin.
| In 1873 England issued sa225,
1000, 900 full legal tender paper
with which to carry on wars
with Napoleon. After they were
made legal tender they never de-
|preciatcd.
During our American colonial
history, several of the colonies
issued and maintained legal ten
der paper money.
During the Francc-Gernan war,
France issued an immonce vol.
umn of legal tender paper with
an enormous ransom to pay Ger
many and with domestic losses
to repair. A credit circulation
was maintained without deprc-
citation. The feat France accom-.
plished astonishcd the world.
They payed the indemnity in
one day and caused Il panic in
Germany after paying the Ger
man government over 81 100000,
goo. Some one may ask how That
could Cause panic in Germany.
luD The issue OF plenty OF money
in France caused every industry
to nurisn to its greatest capaSity
and they sold great quantities OF
goods in Germany and took Ger
tificates of deposit which they
Iintwin exchanged for paper
money. SO. wncn France got
ready to pay the ransom, she
drew all the surplus and more
from the German banks and left
the people without money.
! During the war of the states
in 1s6l-'65 our government is
sued 100000, 900 full legal tender
This paper never fell below gold
and was often above par. All
the green backs except the first
SdO. 100000 were purposly deprc
ciated By placing the exception
clause on them. They were
made legal tender for all debts
EXCEPT duties on imports and
} interest on the public debt thus
making a market for gold, as a
consequence gold rose to $3.50,
July 1864, in paper. That it was
purposly deprecated on the
authority of John Sherman the
chairman of the senate, finance
committee. Thaddeus Stevens
said of the amendment, 1T has
all the bad qualities its enemies
F.. charged in the original bill and
D none OF it's virtues. 1t makes
' two classes of money one for the
= people and another for the
0 bankers and brokers" The bill
D as amended was one of the eight
e conspiracies. Even this con
spiracy did not deprive the greer
8 back of it's splendid function. I
+ ,,;od ~, tbo u,or and conduct