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Benjamnin F. Butler, Butler's Book: Autobiography and Personal Reminiscences of Major-General Benjamin Butler, Chapter 20: Congressman and Governor. (search)
the part of the secretaries in their attempts to interpret this law so as to sell the loan. The first thing said about the probability that this debt would be paid in gold was in the answer of Secretary Chase to a letter sent him from abroad — Frankfort, I believe. It was said in that letter — I do not give the words, but the substance--It is not understood here in Frankfort that these bonds are payable in gold. If it should be so understood they would bring a much higher price. Why was it Frankfort that these bonds are payable in gold. If it should be so understood they would bring a much higher price. Why was it not so understood? Because a foreign lawyer reading the act would never think of such a thing for a moment. The bonds were selling — for what? For forty cents on the dollar, and that at a time when the Confederate loan was at a premium in Europe. Now, I will not think so meanly of this country as to believe it could be supposed these bonds were payable in gold, and then were at this discount even in Europe, which was against us. And I will not think so meanly of this nation as to believe <