Live Questions

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What are the facts? For both Mr. Schurz and Mr. Cochran care- fully avoid referring to them. Substantially all of the bonds and interest-bearing securities of the United States now in the hands of our creditors at home and abroad provide on their face that they are payable, not in gold but in coin. No man could possibly be de- ceived in buying one of those bonds, and, with the exception of the bonds issued during this administration, they were not paid for in gold, but were paid for in coin, wh
...ich meant gold and silver. What is true of the principal of these bonds applies equally to the annual interest. Every individual in the United States or in Europe that holds one of these bonds knew at the time he got it that the principal and interest were payable in gold or silver at the option of the gov- ernment. You remember that a little over a year ago the President was so bent on fastening the gold standard upon our country that he asked Congress to authorize the issue of gold bonds, which he said could be floated on a lower rate of interest, but Congress refused to do it.

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