Webster to Barring, Brothers q Co, bankers il
Englaad, dated London, October l6, 1889:
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The term bill OF credit is familiar In political his
tory and It's meaning well sscesinPd and settled not only
ey that history but Judicial interpretations and decisions


from the highest source For the purpose Of this opinion
hmsy be sufficient to say that bills Of credit the subject
Of prohibition OF the constitution Of the United States
essentially paper money They paper issues in.
tended for circulation and for recspt into the treasury
cash and were sometimes made tender In payment Of
debts To put end at and forever to evils Of this
sort and to dangers from this the constitution Of the
United States has declared that shall emit bills OF
credit make anything hut gold and yers tender
ment Of debts pass law which shall impair the oh
legation Of contracts"


Mr. J. continued: Another reason why the peo-
pie Of that day wished TO rid the country OF paper
money was, that they had themselves experienced
the evil OF IT. and whilst am not myself repu
dator, wosld say TO gentlemen who talk about
Mississippi reputation, and who denounce her, and
every other State that is not able pay her debts
that their lips ought TO be sealed until they have re.
deemed the pledges and promises Of the government
which they now in part represent. Here is an old
continental bill issued under the authority Of Con-
gress