BHUGERT ii FORSTER, Editor*. VOL. I. CENTRE DEMOCRAT. BELLEFONTE, PA. Tho Largest, Chonpoat and Best Papor I*l* It I.IHII KT IN CENTKK COUNTY. THK CENTRE DEMOCRAT it pub llhrl Dfprjf Thurbhi; niorutug. t Helteloaifl, t Vutr** fount*, hi. TKIIM.H—Ceeb In %>!rnnc* Si BO If not |*4l in •*!*•<*... & OO V*ymni* lumle within thrrm munthe will Iw con* mMh in l In mlfmncf. A I.IVK I'Al'fc.R—to the Integrate of tho whole pvupltt. No paper will I* rilH-ontJnta-| until am pnitl firep wt option of publisher* going wttt of Ihf* cuubt) muei he |LIM for In nUuice. Any perwon pmcurlni n* trn f ami i copy lr* f ch*rgw. Our eileluiffl circttltttkui niekf* till* paper an un usually rtlitble AII-I profitable medium for MiiVertieiug U't the uioet Mtttple f*r.illl*e for JOH WORK atitl wr* prepared to |trintwl! hlnda of Htmlw, Tiwta, Prngrwrnunw. hurtm.hmioK'iTkl printing, Ac., In the tin ret style end at the loweet powilblc rate*. BATES OF APVKKTISIXO. Titti*. Im. | 2 in. j am. | 4iii. j•> iu. lon*. -iu. 1 Week, 11 t* 32 ' 33 * 4 IWjfi 0l fH <*i #l2 l . 2\t eels*. 150 3 'Mi 4 ' 5 UU; 00011 00 16 Oil I Week*, 2 12); 3 50' I )' 0 00! 7 00il3 00 1H no C Month.- 2 &0( 4 ■! 6Wi 7 to'! H OOjlft on 20 to) t Mouth*, 4 00i A mij ft UU 10 Ou 12 uullftl to) 23 00 3 Month*. 5 ) ft 00,12 00 13 OOjlft 00 2ft 0i '*• Month*. *OO It OiiilS 20 00 22 0013 ft 00 0" OP 1 Yrwr. 12 tiOilil UUjftl to) 00|42 Uo|* UO'loO (JO Adrertieement* are r*lralwtel by the Inch In length of odutun, and any lee* ,*- I* rated a* a full Inch, i Foreign wdvertieeOHiit* oiut l*e paid f*r l#f.re In terflow, e*cept ou yearly rsHitra t*. w hen balf-yewrly i ,armenl In ttdvattttg w||| he required. POLITICN NOTICE*, If centa per line ewrh Insertion. Nothing ln*ertel fur lew* than 6#cento. Brmttts* None**, in the editorial colnmno, lft cento 1-5 Xortcu. in haibl column*, 10 cent* per line Axo xrsKtttY* of nam** of candidate* for oAce. 33 oneh. A.sovscsws... or *** Osstas la*er*erly l>oiong. Much are the vaults of the Pantheon. We ascended a stairway leading info the front of the church and from there I started for the dome. On the nay up I had an opportunity to examine the celebrated frescue—St. Genevieve receiv ing homage from Clovis, Charlemagne, Mi. 1/ouisand other*. The birds-eye view 'rom this dome waa supremely grand; shining beautilully white in the sun light and clear atnioapliere wa# irnniene Pari*. I do not think there i* a city in the world can present a more inviting prospect; long tine* of avenues border ed with horse chestnuts in full leaf stretched away in every direction. The greet Bouleyard* circled around joining hands aa it might be said; enchanting parks and gardens spring up green and inviting here and there. But all this must l> seen to be properly appreciat ed. I can only approach a portrayal of it when I say it is indiacrihably magnifi cent. GOVERNMENT PAPER MONEY. AM IMPORT ART DRCISIOX BT MR Jt'STfCR CLirroßD, or THI arrRXUK COVET. All writer* upon political economy agree that money is the universal standard of value and the measure nf exchange, foreign and domestic, and that the power lo coin and regulate the Talue of money |* an assential attribute of national sover eignty. ##* Much qualities, all agrro, are unifed in a much greater degree in gold and stiver than in any other known commodity, which was a* weli known tn the member* of the convention who fram ed the Constitution as to any body of men since assembled and intrusted, to any extent, with the public affair*. They not only knew that the money of the commer cial world ws* gold and silver, but they also knew from bitter experience that paper promises, whether Iwueil by the Mtates or by the United Mtates, were utter ly worthless a* a standard of value for any practical purpose. THE OPIRIORS Of THE FATHERS. Evidence of the truth of the*" remark* of thn mo*t convincing character Is to be found in the |Hih|i*hed proceeding* of that convention. Debate upon the subject first arose when an amendment wa* proposed to prohibit the State* from emitting hill* of credit or making anything but gold and diver eoin a tender in payment of debt*. From the character of tnat debate and the vole on the amendment it hecame appar ent that paper money had hut few If any friend* in the convention. Article 7of the draft of the Constitution, as rq->rt<-l to the convention, contained the clause, "and emit hill# on the credit of the United Mtates." appended to the grant of power rested In C-ongrese *o borrow money, and it wa* on the motion to strike out that clause that the principal discussion in re spei tto paper money took place. Mr. Madison inquired if it would not he suf. Anient to prohibit the making of such bill* a tender, a* that would remove the temptation to emit them with unjust view*. Promissory notes, he said, in that shape, that i* when not a tender, "may in some emergencies he heat." Moma are willing to acquiesce in the modification suggested by Mr. Madison, but Mr. Morns, who submitted the motion, objected, insisting that if the motion prevailed there would •till be ro-m left for the note* of a respon sible minister, which, aa he said, "would do all the good without the mischief." Decided objections were advanced by Mr. Ellsworth, who said he thought the mo ment a favorable one to "shut and bar the door against paper money j" and other# etpro*ef debt*. Equally decisive pritof to the same effect is found in the debates wldeh subse quently occurred in tho conventions of the several Stale,, u, which til" Constitu tion, as adopted. ws submitted for ratifi cation. .Mr. Martin thought that the Slates ought not to U totally deprived of the rlglll to emit hill, of credit, but he says that "the convention vvn so smitten wi'h Ihe p|a-r money dread that it insist ed that the prohibition should be abso lute. " rXIIKRAL MOSET MUST UK METAL MoXr.T. Currency is a word much more compre hensive than the word money, as it msy in clude hank tolls and even hil'lsof rEchauge, as well as coins of gold and silver ; but ihe w od money, as employed in the grant • I ("■wet und-r consideration, means the coin* of gold and silver, fabricated and tam;a-d as required by law, which l.y vir tue of their intrinsic value, as universally acknowledged, and their • fil is I or gil, become tha medium of exchange ami the standard by which all other value* are expressed and dischurgi-d. Sup;s>rt tn the pro|Hition that the word money, as em ployed in that clause, was inU-ndi-d to te nsed in the sense here sup|s>s<-d is also de rived from the language employed in cer tain numbers of the fVrfsrnful, which, as is well-known, were written and publish ed during the jicriod when the question whether the State* would ratify the Cn stitution was pending in their several con vention*. Much men a* the writers of thon essay* never cssuld have employed such language if they had enlcrtaiiM-d the remotest idea that ciongres* possessed the power to make paper promises a legal len der. Like support is also derived from tho language of Mr. Hamilton in hi* cele brated report recommending the incorpor ation of a national hank. He first stain* the objection to the pr-qseed measure that hank* tend to banish the go|J and silver of ' the country, secondly be give# the answer to that objection made by the advortes of the bank, that it is immaterial what serves the purpose of money, snd then says that the answer is not entirely satisfactory, as the j rieratanent increase or decrease of the prec ious metals in a country ran bardly ever be a matter of Indifference. "As s" com- j modify taken in lieu of every other, it (coin) is n species of the nnsst effective wrnllh, snd ss tha money of tho wurid it U of great concern t the Hiate that pa asset s sufficiency of it to face any de mands which the protection of it* external interests may create," ll* favored the ia rorjmraUon of n national bank with power to issue bills am) note* payable on demand in gold and silver, hot ha eapreawd him self ■* utterly opposed to paper en,lesions by the United Mtatea, character! King them as so liable to abuse and even so certain of being abused that the Government ought never to trust Itself with the use of so se ducing and dangerous an element. Op posed a* he was to paper emissions by the United Htate., under any circumstances, Il Is past belief that he could ever have concurred in the proposition to make such emissions s tender tn payment of debt*, riiher t* a member of the convention which framed tha • 'onstttution or a* the head of the Treasury Department. HISTORY or TRRASt-RT ROTES. Treasury note*, however, have been ro paatirily authorised by Congress, com mencing with the net of -loth f June, 1812, but it was never eup|*wad before the time when the MI vera I act* in question were passed that Congress could make such note* a legal tender in payment of debts. Much notes, il was enacted, should be received in payment for public land# sold, by the Federal authority. Provision wo* also made in most or all of the acts that the Secretary of the Tri-asury, with the approbation of thn President, might causa Treasury notes to he issued, at the par value thereof, in payment of services, of supplies, or of debts for which the United Mlales were or might he snswpr abln by law, to such person or persons a* should be willing to accept the same in layment; but it never occutred to the | legislator* of that day that such notes ! could be made a legal tender in discharge of uch indebtedness, or that the public creditor could be compelled to accept I them in |mymentof hi* just demands. Financial embarrassments, second only in their disastrous consequence* to those which preceded the adoption of the Con stitution, arose towards the close of tile 1 lost war (1812) with Great Britain, and it is a matter of history that tho*e embarrass ments were too great and presiding hi I be overcome by lh use of Trsasurv notes ' or any other paper emissions without a spuria bssi*. Kx;iedlenta of various kind* ' t were suggested but never occurred either tn tha Executive or to Congress that a remedy could be found by making Treas ury notes, n* then authorised, a Irgnl ten der, and the result waa that the second hank of the United Mtatea was Incorpor- | aled. Paper currency, it may be said, j was authorised by that net, which 1# un dfib*ed!y true; and It I* also true that the bill* or note* of the bank were made I receivable In ail payments In the United Mutes if the same were at the time par** i hie on demand, but the net provided that i the corporation should not refuse under n j heavy penalty tho payment in gold and silver of nay of IU notes, hills or obliga tions nor of any moneys received upon de posit in the bank or in any of its office* of discount and deposit. Bri the suggestion ia to obvious that it Is hardly nno"*ary to pause to suggest It* refutation. Creditor* may exact gni'i Sod *!ivr of , they may waive tUc rtghi Wivqolsfi u. h money and nceepl credit currency, ><- -v.tu mndlUe* of her than gold and *lrr, and the United Mtatwi n* creditor#, or in the , exercise# of their exprea# power to lay and collect tuxes, duties, impost* and excise* may, if t)iy see (It, accept the Treasury note# or bunk bills in such payment# * •übstitutc* for thn constitutional currency. , Further di*cus#ion of tho proposition i unneee*#ny, ns it I* plainly destitute of I any merit whatever. Resort WHS nlo had to Treasury note* in the revulsion of 1 H'l" | and during the war wit It Mexico, and al*o . in til"great reviil-lon of 1877, hut the new , theory that (fongresa could make Treasury note* a legal tender wit* not even suggest- ■ ••<1 even bv the President <>r by any mem ber of Ounjrro. WAKIIIXCiTOg REJECTED fAt'Elt VIOSKT. Seventy ynr# nre included in this re vi< w, even if the computation is only e*r- j rii d hark to the pu*-age .f the net >-*lab ll*hitig the mint, snd it is clear that there is no trace of any art, executive or legisla tive, within that period which stT>rd the •lightest iijqerl to the n< w constitutional ih-ory that Congress can by law constituU paner end**ion a tender in payment o! debts. Even Washington, the fath'-r ol '•ur country, refused to #•< ept paje r money inpayment <-f int that Hamilton, a* well a* ■ Jefferson *nd Madl-on, was opposed to pajo-r end*-ion* by the nation*! authority. rilK t'ATlir.Ra IXTKXDKD TO DETRtTECOX- j ORKM OT THE POWER TO MARK PAPER HOXET. Power, a* before reinnrkcl, wa* v<-*t-d in the Congress under the Omtoleration 1 to boirow money and emit bills ol < redit, and history show* that the ;iwer to emit •urh bill* had b-cn cx<-rei*ed before the convention which framed the Constitution assembled, to i,n amount exceeding fiXof*,- 000,(100. Ktil! the draft of the Constitution, a* re|airte,l. contained the word* "and emit bills append'-d Ui the clause authorizing CYmgre** to borrow money. When that ! clause wa* reached, say# Mr Martin, a motion was made to strike out the word# i "to emit hill# of creditand his account of what followed afford* the most persua sive and convincing evidence that the con vention, and nearly every member of it, ! intended to put an end t* the exercise of I such a power. Against the motion, be ] says, we urged that it would be improper to deprive the O-ngreoa of that power ; j that it would be a novelty unprecedented to establish a government which should not have such authority ; that it was im possibia to 10--k forward info futurity so 'ar as to decid" that event# thst might not h#pp<-n would r*nd"r the exercise of such a power absolutely necessary, Ac. But a majority of the convention, be said, being wise beyond every event, and being wil ling to rl*k any political evil rather than admit the idea of a paper emission in any porntble case, refused V" trust the authority j to a government on which they were lav- I Ishing the most unlimited powers of taxa tion and to Lbs marry of whom they were : Willing blindly to trust the liberty and property of the citizen* of every Mtat* in the Union, and "thev erased that clause from the system." kfore forcible vindica lion of the actlun of the convrntion could hardly he made than is expressed in the language of the AVrfrro/iaf, and the authori ty of .frige Mtory warrants the statement that the language there employed is "Justi fied by almost every ootemperary writer," 'and is "attested in its truth by facts" be. yond the influence of every attempt at contradiction. Having adverted to those facts the commentator proceeds to say that j "the same reasons which show the neenrsi j ty of denying to the State* tha power of ! regulating coin prove with equal force that , they ought not to b" at liberty to substitute a paper medium instead of coin." Emissions of the kind were not declared by the Continental Congn-s* to be a legal , tender, but Congrosa IJO*..| a resolution declaring that they ought to be a tender in (Mynienl of all private and public d< bt*, i and that a refusal to receive lb- Wtriet ought to be an extinguishment of the d< 11, ; and recommend the Mtat<* to pats* sucu laws. They even went further end declared that whoever should refuse to recriie thc paper as gold snd sliver should be deemed an enemy to tha public liberty ; hut our i commentator say* that these measure* of violence aud terror, so far from aiding the circulation of tho paper, b-d on to still further depreciation. New emiuion* fol ! lowed and new measure# were ad'-pted to j give the paper credit bv pledging the pub lic faith tor it* n-desnptiun. Effort follow ed effort in that direction until the idea of redemption at par was abandoned. for one wa* offered and the Mtate* were re quire! to report the bill# under that rcgo | lotion, but few of the old bill* were ever : reported, and of course fi-w only of tbe | contemplated new note* were issued, and the bill# in a brief j*-id ceased tocirra ' late and In the courreof that Tear quielly ' died in the hands of their possessors. ! Bill* of credit were made a lender by the Mtates, but all stub, at well a* tbo*e issued : by th# Congress, were dead in the hanJ* o. ! ikeir possessor* before the convention as sembled to frame ihw Con*titu'ion. Intelligent snd Impartial belief In th< thaory that such men, so instructed, in framing a govsrntm nt for the.r [••stcrity i as well as for them set re*, would delihrrau*- j ly vest such a power, either in Congress , r tile Mtatea, as s part of fheir perpetual *T i tern, can never. In my judgment, be oantriri in th hie. f the recorded evidence* to the contrary which the political and Judicial j history "nf our country afford*, gm-k evi- i donee, so persuasive and convincing ** U la. must ultimately bring all to ike *wtcluiaa i that neither tha Congress nor tbe Mtate* I can moke anything but gold or siirrr coin a tender in payment of debts. Exclusive power to coin monry la coils Inly tested in Congress, but "no amount uf reasoning can show that executing a promissory note and 'irdering it lo be taken In payment of pub lic and pt Irate debt* k* a specie* uf coining money." CQHIM MAT BORROW MOXRT WITS TREASURY ROTGS Authority, It b coticeuH. cxisb in C -R --|feea to pas# laws providing for the i~u"oi Treasury notm, based on the nauonai credit, a* nscetoary end propag mean* for Mailing thaondcM tbe .-j.re. power t li ha dmibtcd at this. Vty U*t ocW ,rv.-'xa vli 'ft issued by the proper authority mv lawfi ily rircu late at credit currency and that th.y may TKRMS: HI.SH per Annum, In Advance. In that conventional dmrmler bo lawfully employed. If the act authorizing their iaena mi provides, to pay duties, te x<-* and all the public exaction* required to lie |ihed ion ago founded upon the prac tice of tho Government, often repeated, ha* tanctioned thew rule*, until It may now I*' *itid that they are not oion to cntro ver*yj hut the question in tile /MM* before the court I* whether the Con grew may de clare *u h tote* pi tie lawful money, maho them a legal tend, r and imparl Pi such a currency the quality of being a *tandard of value, and compel creditor* to accept tbu payment of their deb'* in *u b a currency a* the equivalent of the moro-y recognized and e*tab!bh' d by the Constitution a* tin standard of value by wbieh the value of el! other eonunodit'e* 1* to be m***ural. Fi nancial megun of various kind* for bor rowing money to rupply the want* of th Trm-urv beyond the receipt* from t**r lion ami the aale* of the public land* have t—.n adopted by the Government *in<-e the United State* became an Independent na tion. Subscription* for a loan of sl*2 <**>- 000 were on the 4vh of August, 1700, di rected to be npgid at the Trea*urv. Pi bo made parable in C-rlifU *t* issued for the debt, a<-cording Ui their specie value. Measure* of the kind were repeated in rapid -ucce-siotj for aevrfal year*, and law* providing for l am in one form or another ap|iearid to have been the | referred mode ot borrowing, until the oOth of June, 1812, when ib flrt aet wa paiand "to authoriao the issueof Treasury note*.'' Loan* bad la-en previou*lv authorized in rej>ep-d in sUm-e*, a* wifl be cen by the following reference*, to which many more might be added. Karnest opposition vu made Pi the pe age of the IJrt act of Congm* authorizing ibi tenia ol Treasury note*, but the nioas uro prevailed, and It may be remarked that the vote on the icmiuh vu ever after re garded a* having settled the quelion a* to the conuitutionality of ucb an act. Five million* of dollar* were directed lob* it •ued by that act, and the Secretary ot the Treasury, with the approbation of the Pre* dent, wat empowered to cause such portion of the note, a* he might deem ex pedient PI be irued et (air "to tilth public creditor* or other person* a* may chooae to receive *urb note* in jaymenl. it never having occurred to eny one that even a public creditor could m compelled to re -1 <*i\e uch note* in payment except by hi* own content. Twenty other imue* ol such | note* were aulhonwd by Congrats in the \ nwrw of the fifty year* next after tho passage of that act and before the passage , of the act* making tuch note* a legal tender. . and every one of tuch prior act*, being 'twenty in all, crntaint, either in express j word* or by n-eatery implication, an ! i-qually decisive negation to the new con tlitutional theory mat Cangn-es can niaha i pat*r einiatSon* either a ttandard of value ; or legal tender. j TKSAtCRT VOtß* CAXXT M MAPS If. AI, TKXlitr. £.i pel-added to the conceded fact that Iha ' Conttitution contain* no expna* w. r-ta P* ( support tuch a theory, thit long and utr : broken mage that Tr-a*ury note* thall not J bu constitute la standard < f value nor be made a tenter in payment of debt* i* en ! titled PI J mat weight, and when taken in connect on with the persuasive and eon- I vine ng evub nee derived from the publith- I f*l pio -esding* of the convention, that tho i fratuer* of the Constitution never intruded - to grant any tueh power, and from the r* ( c >rded teniiment* of the great men w-Ikm -irgumenta in favor of the reported draft procured it* ratification, and lUfipirtul a . ihat view it hv the repeated d cition* of i thl* Court, anil by the infalliable rulg of - interpretation that the language of one 1 expret* power thail not be o expanded a* to nullify the force and effect Of another ex pro** power In the *ame instrument, it wmi to me that it ought to be deemed I final and conelutive that Congress cannot I constitute *uih note*, or any other paper omheion*, a constitutional standard ..f val ' He, or make them a legal tender in pay- I m -nt of debt*, especially at it cover* the ) ♦ riod of two foreign war*, the creation of j tit • second national bank, and the greatest flua oial revulsion* through which our , c -unify ha* ever pasted. lather Tafl'v Depillgf, • roaa IP P1.t1.-t- !*!, Two- J A remarkable array of figure*, pur -1 |M)tiin| to show the numtier of United ] States Ueputy Mataha!* u*e*l by At | 'orney (irftrpl Tall in curry ing tbo ' '"lection of 1876 for the Republican*, • ' iirinled in ikxu* of the ppr. hi# j aid that, by the Attorney General'* own report, it appe-ra that twelve i bou-anil five hatol, e*l and seventy nine i |••.n were rtu loys-l in thw work, j Their apporthnni* nt would nun to ■ iieve been on tl|e -.tuple basis **f |rti- I -an necessities and without any regard whatever to < o*t, legality r I ropnety. In H