Speech of General Thomas Ewing
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The usurers and theorists declare that this means repudiation. Does it, and why f Because, they say, the customs are pledged for the interest on the public debt, and must therefore be wholly paid in gold. But, as Judge Thurman has shown, the customs amount regularly to full twice the interest on the debt (which we do not propose to in- crease), and, therefore, half the customs will yield gold enough to pay the interest. They say it would-be a violation of contract to take the circulation from t...he National Banks. But the last section of the law under which they were organized reserves to Congress the right to amend or repeal it at pleasure. They say the Government is bound to redeem and pay the greenback in gold, as it was taken on the faith of that promise. I answer it was never taken as a public debt, 'but only as a legal tender. It goes from hand to hand is mine to-day and yours to-morrow. I doubt if there be a man in America who ever took a greenback on the promise of payment in coin.
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To quickly assess the difficulty of the text, read a short excerpt:
The usurers and theorists declare that this means repudiation. Does it, and why f Because, they say, the customs are pledged for the interest on the public debt, and must therefore be wholly paid in gold. But, as Judge Thurman has shown, the customs amount regularly to full twice the interest on the debt (which we do not propose to in- crease), and, therefore, half the customs will yield gold enough to pay the interest. They say it would-be a violation of contract to take the circulation from t...he National Banks. But the last section of the law under which they were organized reserves to Congress the right to amend or repeal it at pleasure. They say the Government is bound to redeem and pay the greenback in gold, as it was taken on the faith of that promise. I answer it was never taken as a public debt, 'but only as a legal tender. It goes from hand to hand is mine to-day and yours to-morrow. I doubt if there be a man in America who ever took a greenback on the promise of payment in coin.
What to read after Speech of General Thomas Ewing?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Ewing to read onlineMoreLess
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