The Conservative. (M'connelsville, Ohio) 1866-1871, 1867-09-12
One Currency for ALI

The New York FreemdX's Journal,
in an article TO show hat the finances
need reconstruction, makes tho follow
ing remarks in reference TO the plan
Of getting rid Of the intereSt.6 Bearing
debt by paying off the bonds with
greenbacks. Says Mr.. McMAsrER:
I'VE must get rid of the debt, but
how Iu medicine, We have been as
tonished at effects of the treatment
based on the principle Jimfiid simiiibus
curdn;Ur, "A disease is cured by su.
perinduclng, artif ;ially, like net Of
symptoms II an ear is frozen by
contact with intensely cold air, cold
snow is applied TO draw out the frost
Ifa hand be sCRlded in n very hot wa
ter, exposing the part TO. the dry heat
Of an open fire, 10 an admirable Sllevi-
ativo.
Accept, or not, tho medical law, we
want to see it applied IN finance. We
are suffering from too many and too
heavy United States bonds-most Of
them payable, interest and principle,
IN golu. We want to cure these bonds
with grecnbacks That will be, sum.
la similibuS I Like by likel' That
will, in a very stort time, pay of the
bondholders in their own coin oil in
their own rigs Those Of US who
have never recognized these bonds IA
II legitimate debt due By the people Of
the United States will not have mach
trouble in helping, thus, to cure like
with like + For others, who, in their
innocence, AJAX ifthIs is new way to
pay old debts, we have to show that IT
is simply an old way Vt paying new
debts.
Here arc the proofs:
The widow of an honorable citizen
! Of New York State, her deceased hus-
bands estate having been settled up
in 1859, found herself in possession of
about twenty thousand dollars. She
wished to invest 1t safely, as a fund
from which to educate no fatherless
children. Friends assnred her sho
better invest in the New York State
boAcs She did 30, AMI, her nearest
friends living in Canada, she won't
thither with her children. So long as
those bonds paid interest IN gold, she
did very well. But when tho glorious
United States 'Goyernment-Lincoln,
Seward, Chase and their CJngress-
nado greenbacks an legal tender, this
poor woman was overwhelmed, When
jt.got 30 bad that it took two and IA
half greenbaska dollars to make. one
Canada, or gold dollar, she quit Cana
da and zane to New York to try and
live oil g~reenbacks.
Now, We object TO this impoverish
ed widow being forced to pay taxes on
the remnants OF her groenbacks, "a
make United States bondholders mil
~lionaires The United States Govern
ment made g~reenbaCks loyal tender
for her contract IN Gold with the State
of New York. That government did,
thereby impair the validity of con
tracts II did make something besides
gold and silver a legal tender for debts
contracted in gold.
Now. whatever sympathy We may
have for the creditors of government
that contracted debts with no recogni-
ton of any other money than gold
we have very little for n who LEM
: money on faith of being paid in gold
TO a government that had just sane
toned the paying off gold debts with
greenbacks.
From the day, in 1864. when thu
United States Government came L
violate contracts in gold' and to do
clare g~reenbacks paper legCl tender
tor all debts 10 gold, We leave tn,
creditors Of that government to som,
othsr resort than splsa Of equity, Il