522 THE IMPENDING REVOLUTION. 



equivalent to a loan from the government without interest; 

 * * * * while the people would gain the additional 

 advantage of a uniform currency, and relief from a consid- 

 erable burden in the form of interest on debt. ' ' ' 



"This is the capital, $16,000,000,000 in amount, on 

 which your treasury notes and bonds rest. This claim of 

 the government, in the hands of Congress, is direct and 

 specific on the banks throughout the United States, inclu- 

 ding the gold and silver in their vaults; on commerce; on 

 all kinds of production and business; on railroads, steam- 

 boats, and their passengers; on gas companies; on manu- 

 facturing companies of all kinds in short, all real and 

 personal estate of every kind is held subject to the pay- 

 ment of the treasury notes and bonds issued by the gov- 

 ernment. Congress is clothed with this mighty power to 

 sustain the nation at this time. 



"All governments fix the value of gold and silver, 

 and without the government stamp gold would be a simple 

 commodity, like all other things having intrinsic value. 

 Some governments fix the value of coin higher and some 

 lower, just as each for itself chooses to determine. Any 

 other thing that should be stamped, and its value regulated 

 by all the governments of the world, would pass equally 

 well, in all commercial transactions, with gold and silver, 

 although not intrinsically as valuable. Exchequer bills or 

 treasury notes, whose value is fixed by government and 

 stamped as money, would pass as money in the payment 

 of debts within the jurisdiction of the government fixing 

 such value. 



* * Congress may decide whether it will authorize the sec- 

 retary of the treasury to issue demand treasury notes, and 

 make them a legal tender in payment of debts, or whether 

 it will put 6 or 7 per cent, bonds on the market, at ruinous 

 rates of discount, and raise the money, at any sacrifice the 



