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Maybe we had the heir to a subtreasury panting to join us and maybe his freckles were his fortune. All Petey had gouged out of him during the night was the fact that his father wanted him to come to Siwash because it was a nice, quiet place. Oh, yes; it was deadly calm! It couldn't have been more than seven o'clock when the telephone rang. Petey answered it.
The subtreasury system rejected the last in any form, and as it was believed that no reliance could be placed on the issues of local institutions for the purposes of general circulation it necessarily and unavoidably adopted specie as the exclusive currency for its own use; and this must ever be the case unless one of the other kinds be used.
Then this other government, thinking to kill two birds at one shot, gives it out, in certain diplomatic circles, that Uncle Sam shipped that gold directly to the Chinese government from the subtreasury, with the full knowledge that the rebels were to get it." "Yes, I've heard about that."
The late contest, which terminated in the election of General Harrison to the Presidency, was decided on principles well known and openly declared, and while the subtreasury received in the result the most decided condemnation, yet no other scheme of finance seemed to have been concurred in.
No quorum of the new Congress was present at New York on March 4, 1789, and neither house was organized until early in April. On the 23rd Washington arrived; and on the 30th he took the oath of office as first President of the United States, standing on the balcony of Federal Hall, at the corner of Wall and Broad streets, a site now occupied by another building used as the subtreasury.
In case they did not the papers would doubtless be destroyed and the charges would continue to be made the charges that the subtreasury in New York had shipped the gold to aid the revolutionary junta in making a republic of China.
Next came the demands. Heading these were the monetary planks: "a national currency, safe, sound, and flexible, issued by the general Government poly, a full legal tender for all debts," with the subtreasury system of loans "or a better system; free and unlimited coinage of silver and gold at the present legal ratio of sixteen to one"; and an increase in the circulating medium until there should be not less than $50 per capita.
The question of the continuance of the subtreasury system is respectfully submitted to the wisdom of Congress. If continued, important modifications of it appear to be indispensable. For further details and views on the above and other matters connected with commerce, the finances, and revenue I refer to the report of the Secretary of the Treasury.
"The instructions make it look mighty bad for our Government, for the gold was drawn directly from the subtreasury the day it was shipped. It looked as if we were plotting against a friendly government." "I see." "But some one leaked. The story of the shipment got out, and the vessel was rammed one night by a steamer which has never been identified.
Greatly elated over this important footing, the Alliance men marked out a plan for congressional legislation. They demanded A bill for the free and unlimited coinage of silver. The subtreasury scheme. A Land Mortgage Bill.
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