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Vol- Al-"u' '
COM.ORD, N. C, FRIDAY, AUGUST 2. 1895.
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lw:7TKCAHERICSN TOBACCO CDAi5fr
,' jucchioh Vjfg'rir
t'::W cuptham, n.c. u.s.a. zi-y
; i' ; times useful to rcmera
: ,:.' he constitution contains
r - ; ' ct of money. It U the
:.-: ' ' patriot to maintain and
.:.: fc :b- letter a 3 well as the
n : it -;f constitution. The con-,
i o; the United States says :
Tliv viiress shall h'.ve power to
com money, regulate the value
!ri"v.r.f, ?;d of f -j reign com, and fix
the standard of weights and ineas-
I. : . Jul! coin money ; make
v.;:vti..:i..;' lut gold ami silver coin a
: in -p. mc-nt of debts; or pass
any iu-.v impairing the obligation of
7U ootifuion says, that JfJon
r'-: ?Ki!! h .ye the power to coin
reor y. V, hut money? Copper?
-:ilvrr, or what? It does not
say. A3 to free, restricted, limited,
unlimited, dependent, independent
coinage, it does not say one word,
It says nothing of ratios, weight,
f Lienr . the metah selected
Tor coinage. It is silent on the sub-.
: n of per capita. It says that Con
gress ah all huve power to coin money.
Again, it sav, "and regulate the
vaiae. thereof." It does not use
the vurd fix us in the case of fixing
the standard of weights and meas
ures, but says "regulate," "fix" the
standard of weights and measures,
lut "regulate" the value of money,
hot fix the value, because from its
very nature value does not admit of
being fixed, or permanently estab
l:-"hr,(h like the measure of a yard,
the height of a pound. Yard and
pound are quantities or measures
t ':'it admit of definite and lasting
determination, and do not change
from year to year, or century to cen
tpry. Value, on tbe contrary, may
qbange from decade to decade, and
therefore admits only of being regu
lated from time to time. Any Con-
res? may c in money and regulate
the value thereof and not violate the
letter and spirit of the constitution.
"No State shall coin money."
Hm places the power of coining
money in the hands of Congress.
rtAnd no State shall make anything
but gold and silver com a -tender, for
the payment of debts."
Here we are told what" metals shall
oe used as legal tender money, viz :
gold and silver. Honey made. !of
gold and silver" seems to be the legal
tender money of the constitution
but if the constitution says
that gold and silver are the
metals the coin of which may be
made a legal tender, what shall be
the relative value of the two metals ?
What shall be the weight and fine
ness of the respective coins ? Must
it be understood that gold and sil
ver, or gold or silver shall be made
a legal tender ? If a man has a debt
to pay, must ho pay part silver anil
part gold? Or may he pay all silver
or all gold ? Must both metals be
coined in order to meet the : equip
ment cf the constitution when it
says no State shall make anything
a legal tender, but gold and silver ?
Let it be admitted that both metaL
aball be coined. Saali the coinage
cf either be restricted, or unlimited
regardless of the market value of the
two mdals, the relative convenience
of handling them, and the general
desirability of using one or the other
or both as money. Shall a thousand
dollars of silver money he considered
the equal in every respect of a
thousand dollars of gold money ? A
mint wiil stamp twenty million dol
lars in twenty dollar gold pieces in
the same time that it will stamp a
million silver dollar pieces ; the
labor incident to carrying, handling
and counting the latter will nearly
equal the labor required to c:rr,
handle, cr count the former. Shall
the two metals nave a forced equals
ity, notwithstanding the great dif
ference iti their natural equality ?
The constitution does not answer
those question.?. The answer 13 left
WnonE NO. 1.213
to be made according to the con
ditions which confront each genera
tion of people.
It is evident that the constitution
tells us nothing positive about what
the money shall be. All that is
said, is, that only gold and silver
coin shall be made a tender for the
payment of debts. The constitution
names the metals, and any attempt
to stretch the meaning so as to make
it correspond with any preconceived
notions, we may have as to coinage,
ratios, etc , would be a perversion of
the meaning of the constitution it
self. There is nothing in the con
stitution which tells ua which conic
to make tha heavier, gold or silver.
The constitution gives us no idea of
the relative values of the metals.
Again legal tender for the pay
ment of debts may be a misleading
phrase. The question as to what is
the meaning of legal tender is a very
interesting one. Who has the right
to make anything a legal tender ?
The state or parties to the contract ?
The government makes coins of gold
and silver and says they shall be a
legal tender for the payment of
debts. In practice does the govern
ment not contradict itself ?
Take for illustration the follow
ing blank promisory note:
On or before the 1st day of Jan
uary, 1895, for value received, I
promise to pay Henry Jones
, with interest.
(Signed) John Doe.
July 1, 1804.
Here then is a contract, an agree
ment on the part of John Loe to
pay, and on the part of Henry Jones
to receive. But to pay and to re
ceive what ? The parties to the
contract say what shall be paid and
what shall be received. The state,
the goyernment has nothing to do
with making the contract. The
state does not say what shall be the
legal tender. The legal tender for
the payment of the r ote must be
named in the blank space. Suppose
that John Doe agrees to pay one
hundred bushels of corn. Then cora J
will have no right to demand any
thing but corn in payment If it
said white corn, yellow corn, red
corn, then white, yellow, or red corn
would be the legal tender for pay
ment of the note.
Suppose that instead of corn, chje
agreement' to pay one hundred
ounces of silver, or one hundred
penny weights cf gold had been
made. Then one hundred ounces of
silver in the former case, or one bun
died pennyweights of gold in the
latter would be the legal tender, and
payment would have to be made ac
cordingly. In each case tne contract
names the legal tender.
Now, suppose the promise is to
pay one hundred dollars. Here the
contract is implied that payment is
to be made in the legal tender dol
lars made by th? government It is
a contrect to pay and to receive, just
as much so. and in the same tense
8 in ca?e of the ounces of silver or
pennyweights ot gold. In no case
does the goyernment say what shall
be paid and received. What it does
say is that each party shall per
form hia obligation as stated in the
Cjatrac', that the payment shall be
P;-.f1.' i;1 he ' ! C-'-l '.u-'C-' 3 cf
of silver,. pennyweights of gold, or
dollars is an accident dependent
upon the desire? cf the parties to the
tine ot making the contract. The
government simpiy enforces the ful
fillment of the cc niri'ct The gov
ernment makra no man give-his note
for one hundred bushels of corn,
one hundred ounces of silver, one
hundred pennyweights of gold, oi
one hundred dollars. But, if he
does give hia note for eith-r, it says
he shall pay it, that is fulfilling his
part of the contract.
(To be Continued tomorrow).
1Ic1i1onh and AIouo,
I Mr. R A Brown was left in a bad
fix Thursday when trying to hail a
street cfr in Charlotte. Mr. Brown
waved the moterman down and was
running to catch the car when h's
leg broke his wooden leg. There
he stopped, for he couldn't go
further. The car moved off, while
Mr. Brown look longingly after it.
A policeman fiucliy came to his as
sistance and asked about the trouble.
He was amazed to learn that Mr.
had broken his leg instead of being
"overloaded," as was the policeman's
For iln' ?riliau.
It vas a gala day at Moortsville
Thursday, when between three and
four thousand people gathered there
to participate in the annual picnic
for the benefit of the Barium
Springs Orphanage. The old yet.
eran, Capt A D Cowles, of States
ville, spoke to the old soldiers on the
cause and results of the late war.
His speech followed that of Mr. L
C Caldwell, mayor of Statesville,who
ppoke nn "A Nation's Greatness the
Homes Thereof," who showed his
deep and perfect understanding of
his great theme.
More than $200 were realized for
the orphans upon this occasion.
A Harmonious Couple.
Mrs. FerkLns (calmly reminiscent)
"Jonathan, we've bin married 40
years next; .Tuesday, an' never had a
cross word yit"
Mr. Perkins "I know it. I've
stood yer jawin' purty well."
Mrs. Perkins "Jonathan Perkins
you're a mean, hateful, deceitful old
thing, an' I . wouldn't marry you J
CANNONS & FETZER'f
IJli a ml I
GIVING TI1E-E THINGS A WAY WI I'll
an: : i;-3
v. ; i
J.Ticrr-vcd Chattauqui U
Drr Beard 1 V,
f-,f y. .
s I Cpsn for tss.
am E AND SEE
is the legal tender, Henry Jones agin fer lore ner money !" Judge.
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And get a cir
cular tliat will
tell you all
3r luiliin t'"
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