Democratic Sentinel, Volume 2, Number 4, Rensselaer, Jasper County, 8 March 1878 — Let the Bond be Fulfilled. [ARTICLE]

Let the Bond be Fulfilled.

John Sherman rules that, as he has sold seventy million dollars’ worth of bonds for gold, they must be paid in gold, no matter what the bonds themselves say they are payable in. The contract for payment is a specific contract, and is plainly expressed on every bond. What a man buys his bonds with has nothing, in law, to do with what he agrees to receive in payment. John Sherman did not apply his present rule to the five-twenty bonds. They were made payable in “lawful money, and were bought with greenbacks, “lawful money.” John Sherman’s present rule would make them payable in greenbacks, even though the bonds said they should be payable in coin.

for the Government sold them for greenbacks. They must be paid in money of the same kind of money for which they were sold, says the Secretary. The following tabular statement of the issue of bonds sold for greenbacks, and the gold value received for them, is in point : Gold Film Bnnrtu ftxnuK>, Rx-rivcd. 1862 $6.1982 450 $44 630.649 1863 160,987,550 101.890,854 1864 381,292,260 189,697,636 1865 279.746.150 208.214.090 1866 124,914.400 88,591,773 18(7 421,469.550 303,215,603 1868 425 443,800 312,826,823 T0ta151,874,836,150 $1,248,466,828 Here we have the amount of the robbery committed by the Coin act of March, 1869, in which Sherman aided and abetted. It is $626,370,322. The interest on the bonds was paid in gold. That is, the purchaser of the bond for S4O, SSO, or S6O could draw about 10 per cent, interest in lawful money on SIOO, and his bonds were exempt from taxation beside. It is high time for the people to say to the bondholder that he shall now have no more than is nominated in the bond. “Not a drop of blood.” There shall be no repitetionof such robbery.—Cincinnati Enquirer.