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Updated: May 1, 2025
Yes, friends, we have considered all this, and more, namely, that one sixth part of our entire population are slaves, and that you, with your subtreasuries and national banks, propose no relief for them.
As the limit fixed in 1868 was $356,000,000, the bill tended to "inflate" or add to the paper currency $44,000,000. Grant vetoed the bill. Under this law, silver 10, 25, and 50 cent pieces were to be exchanged through the post offices and subtreasuries for fractional currency till it was all redeemed. Surplus revenue might be used and bonds issued for the purchase of coin.
And at Juniberg, where the company proposed to establish the first of a series of grain subtreasuries warehouses in which the farmers of the surrounding country could store their products and borrow money on them from the railroad company at the rate of three per cent, per annum at Juniberg enough money was subscribed to erect three such depots as the heaviest tributary crop could possibly fill.
Yes, friends, we have considered all this, and more, namely, that one sixth part of our entire population are slaves, and that you, with your subtreasuries and national banks, propose no relief for them.
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