Year: 1869

fully subdued they rose nearly to their present
since But II am right that they are oniy wanted
IN Germany as In England for the purpose OF invest
sued for investment supply Of bonds largely In ok
cess Of the demand for that purpose. And as Ger
many has no national SECURITIES sh o bearing tne same
man they are more sought after on the Continent
for investment and therefore are higher in price,
and honds being held In England for Investment
only the holders do not care to change their invest
ments for the sake OF the difference in price. do
be procured at any price abroad that those already
there would iInmediotey appreciate 70 par II noe


to premium Or mouS Ia Ssr pevats thu see sSp
There is curious illustration Of this In tho
fact that small amount OF Massachusetts gold
bearing five per cent bonds was subscrl bed for by
d single house In London at ninety-hve. while the
bonds Of the United States, which had not only the
security or Massachusetts, but all the rest OF the
United States behind them, at six per cent. were
selling at seyenty-four. The Massachusetts, bonds
were oil taken for single investment ana me SUP
element which very largely aifects the price Of our
bonds. and that is the option the United States re-
time for an Investment is large element Of value.
The very theory OF the British consols is that they
ever viii be. The United States has once paid all
her Indictment In gold to the great disgust OF the
Sr o. ne v we pad n hs
Those investing In our securities fear this may nap
pen again.


OUR BONDS IN EUROPE NOT TO BIZ AFFECTED M An


ADJUSTMENT OF THE CURRENCY.


assume, therefore. that any adjustment OF ONE
currency for our own convenience will not mate
rally affect the worth Of our bonds abroad. But II
knew how, consistently with honor and national
bonds going abroad and to bring all back that have
gone, as view the depl0rabe fact Ofthe absorption
Of our exports TO pay seventy million dollars Of IN
England carries her debt with case and with pros
perity as nation because 1t is almost wholly due to
mains at home. while we, by sending our debt
abroad are In degree suffering the evils which have
impoverished lreland-Hbsenteeism or b owners OF
her lands Withdrawing all their incomes from her
to be spent away So that II any one objects to the
plan Of currency snas VIII have sy shS e ten.
those that abroad for the purpose OF being used
az security to be pledged to the government for cur
may be done. Let no man say that desire to es-
tabiish or perpetuate deprecated currency.
and for ali purposes Of circulating medium better
than gold, every dollar Of which, doubt not, Will
soon be made equal to gold; but what 90 desire y
and silver, so that any man, because he has . dollar
OF It, can call for many grains Of gold which must
tents bur with his currency ne must buy his gold as
he does his wheat where 1t can be had In open
Of this country its volume It's stability the values Of
all property Of the country shall no longer DC at the


needs o the bankers Of Europe Or @ Ses
Asia. But hear the buionists exclaim sOur mo.
ney @ must be the same as the money Of the world !"
other nations" Iwould as soon or sooner have our
government, our laws our institutions the same az
divested government OF every trait OF the des-
p0tisms every attribute OF the monarches and every
and that is the ali.controiiing "a ana aiIaDsorbins
power by which masses OF the people OF all nations
Of the earth have ever been enslaved-coned money.


A HIT AT THE BULLIONISTS.


More than three thousand years ago the despots OF
the world as the most potent method to enrich
tyranny, hit upon the device OF impressing their .


image and superscrtptt0n" or other peculiar stamp
trinscay useful or the most beautiful but the most
scarce and dlncult OF attainment by the masses OF
the people thus arbitrarily TT making measure M Of
subjects must be exchanged. Because OF their capa-
blities OF being SO converted into equivalents Of
sought after by all men in such degree that they
falsely to be deemed to have special intrinsic
stamped upon them In the earliest republics, when
governments were established BY the people for them
as arbutes Of desposism they stamped
value upon the more common and equally useful
metals generally distributed among the people to be
used by them 0s instruments or exchange and trader
valuable ithe. peoples possessions, was Impressed
value but thus made the equivalent Of compara-
lively considerable wealth. So Rome, for more than
upon copper sp for s thereby giving
the name pecur,id by which money and wealth were
aferward designated throughout sne world. & Il Is
the best OF all possible substitutes for coined
may, therefore, be safely assumed that had the
Greclan and Roman republics the money OF the pe0-
pie would have been such paper instead OF the pom
pie OF these free commonweaiths became deterio-
rated by vices and luxury yielding their liberties to
tyrans either by choice or usurpation, did gold and
silver the every ready aduncts OF despotic power in
all Its forms and degrees obtain place and scope to
do their appropriate and never-failing work, the
remembered when the victorious Gaul threw his
sheathed sword into the scale as the c0unterpoiso
BY her money, but by the ornaments and trnkets
OF the richer OF her citizens for she had
neither gold nor silver coins for more than century
Twelve centuries afterward, when the feudal
system dividing Europe, just then emerging from
the dark ages, into many small principalities and
bishops control OF the liberties OF the Impoverished
people, each claimed his prerogative the right TO
nx hts value to pieces OF gold and silver. and the
same to change and debase at his WILL by which his
sers mnst measure their possessions and pay tribute
10 MN nor OF al they had Coined gold ana silver nave
monarchica power; the supporter Of thrones; tho
upholder OF nobities and priesthoods; the engine
Gratis have always been sustained in trampling
down the rights devouring the substance and abb
Through all time the possession OF money has gwen
power to the few 70 enslave the labor OF the
and its use has been the badge Of servitude Of all
peoples to some king or rans ~, TO deny deny this as
would fain have taken hold Of the words Of our
Lord: "that 40 they might deliver Him unto the
power and authority OF the governor" they asked.
'.Is II lawful for rs to give tribute unto Cesar OF
NOT But he perceived their craftlness and said.
why tempt ye met Show me q penny. Whose
Cesars. And lie said unto them, Render, there
fore, unto CGsar the things that are C9sar's and
yelled at his answer"


Our patriot fathers, founding government for
themselves on this Continent carefully eliminated
from It's framework every attribute OF monarchy
and aristocracy, the divine right OF kings,
patents OF nobility, the succession OF pri-
mogeniturc the law OF entail, the fealty OF
one man to another-every OF the devices of king
craft and oppression with which the people are gov
erned by o class-al save one; they retained,
whether FOR good or evi the precious metals stamp
cd with the kings image as the standard by which
TO measure the property and industry OF the new re-
public. st was grievous fault" and gricvousy
have their children answered It. Great wise and