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Editorial
June 2, 1837
The Daily Herald
New Haven, New Haven County, Connecticut
What is this article about?
Criticism of Government Deposite Bank bills trading below par and at heavy discounts, contrasting with U.S. Bank notes at premium in the South. Accuses government banks of first suspending specie payments and forcing rag money on workers, questioning Jackson-Van Buren currency policy and French installment payments.
Clipping
OCR Quality
98%
Excellent
Full Text
Comment.—The Government Deposite Bank bills
are not only below par where they are not issued,
but five dollar notes upon some of them have been
sold at a discount of seventy-five per cent. Again,
at the South, U. S. Bank notes are at a premium of
12 and 15 per cent. while specie is selling at a pre-
mium of 6 and 8 per cent. And as an additional
"fact for the people," let it be remembered that the
Government Banks were the first to suspend specie
payments, while the Government is compelled to pay
its debts in rag money. If gold and silver is the
Jackson Van Buren currency, why were the French
instalments not paid in gold and silver? Why do
the Deposite Banks not pay gold and silver? Why
did the Secretary of the Treasury inform the labor-
ers in the Pennsylvania Navy Yard that they must
receive rag money for their labor, or leave off their
work? Tell us, Mr. Republican, or if you cannot
tell us, say that your "facts for the people" are, as
they are, falsehoods to deceive the people.—N. Y.
Express.
are not only below par where they are not issued,
but five dollar notes upon some of them have been
sold at a discount of seventy-five per cent. Again,
at the South, U. S. Bank notes are at a premium of
12 and 15 per cent. while specie is selling at a pre-
mium of 6 and 8 per cent. And as an additional
"fact for the people," let it be remembered that the
Government Banks were the first to suspend specie
payments, while the Government is compelled to pay
its debts in rag money. If gold and silver is the
Jackson Van Buren currency, why were the French
instalments not paid in gold and silver? Why do
the Deposite Banks not pay gold and silver? Why
did the Secretary of the Treasury inform the labor-
ers in the Pennsylvania Navy Yard that they must
receive rag money for their labor, or leave off their
work? Tell us, Mr. Republican, or if you cannot
tell us, say that your "facts for the people" are, as
they are, falsehoods to deceive the people.—N. Y.
Express.
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Government Banks
Deposite Banks
Specie Payments
Rag Money
Jackson Van Buren
Currency Policy
Bank Notes
French Installments
What entities or persons were involved?
Jackson
Van Buren
Secretary Of The Treasury
Mr. Republican
N. Y. Express
Government Deposite Banks
U. S. Bank
Pennsylvania Navy Yard
Editorial Details
Primary Topic
Criticism Of Government Deposite Banks And Currency Policy
Stance / Tone
Strongly Critical Of Jackson Van Buren Administration
Key Figures
Jackson
Van Buren
Secretary Of The Treasury
Mr. Republican
N. Y. Express
Government Deposite Banks
U. S. Bank
Pennsylvania Navy Yard
Key Arguments
Government Deposite Bank Bills Below Par And Sold At 75% Discount
U. S. Bank Notes At 12 15% Premium In South
Specie Selling At 6 8% Premium
Government Banks First To Suspend Specie Payments
Government Pays Debts In Rag Money
French Installments Not Paid In Gold And Silver
Deposite Banks Do Not Pay In Gold And Silver
Secretary Of The Treasury Forced Rag Money On Pennsylvania Navy Yard Workers
"Facts For The People" Are Falsehoods To Deceive