Watson's Magazine, Vol. IV, No. 1, March, 1906Various
General
Watson's Magazine, Vol. IV, No. 1, March, 1906
Various
United States -- Politics and government -- Periodicals
(2) Yes. Except for Import dues and interest on Bonds.
(3) The law declares that they are “money” and guarantees their payment;
hence they pass as money, but are not, strictly speaking, Legal Tender.
The basis of their circulation is the Credit of the Government. The
people have to pay taxes to meet the interest on the bonds in order that
the National Bankers shall have the vast profit and power of using the
Government Credit for their private gain.
(4) The privilege of taking silver bullion to the mint and having it
turned into coin on the same terms that are granted to the owners of gold
bullion.
(5) Yes.
(6) The Public Debt, at the time it was contracted, was payable in lawful
money. The same motives which led the money-Kings to impair the credit of
the Greenback with the “Exception Clause,” led Congress to change the law
to the effect that the bonds should be payable _in Coin_. This of course
meant either silver or gold, at the option of the Government. Another
step was taken and the bonds are now payable in gold.
(7) Because, under the rulings of the Secretary of the Treasury, the Gold
Reserve can be drawn upon to keep silver and paper currency up to the
Gold Standard. I presume that National Bankers prefer to keep their gold
because it is the money of final payment.
(8) Commercial usage, and the banks. Foreign coins have no legal status.
Their value and currency is a matter of private agreement.
NEW YORK, DECEMBER 24, 1905.
* * * * *
_Honorable Thomas E. Watson, Thomson, Ga._
DEAR SIR: In your “A Call to Action” in January issue, you have
forstalled my wish, in part only.
As soon as a reasonable number respond by sending their names
to Mr. Forrest, I want you to sink all personal desires by
asking Messrs Hearst, La Follette, Folk, Douglass of Mass.,
Johnson of Minn., Garvin of R. I., and such other men as you
know to be loyal and true, and insist upon their coming to the
conference, as it is high time that all good men and true,
combined to destroy the Grafters.
This meeting should be held about the time of debate on the
question of opening of the ballot boxes in New York and having
a fair count; this will give us a chance to hang the members of
the Legislature who refuse to give us an honest count of the
ballots cast on November 7th last.
Every leader like Hearst, Folk, La Follette, and possibly
Watson—et al, has the Presidential Bee in his bonnet, and each
is afraid that the other fellow will get it; but do you not
agree with me, that in a issue like this, all personal feelings
should be secondary? Let us by some means get all of these men
to line up at the conference.
Sincerely yours,
⸺ ⸺.
ANSWER
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