Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1868-10-08
GRANT AND COLFAX.
rs.
Jews and EOrCignerS.

JeWS anu fOfc1SncrS.
Art. III. Which is the Cheapest and
therefore the most Conservative Par
ty..
Suppose Democracy rclccms the bonds
by special and nomna.ly adequate issue
Of grcenbacks, then, as have demons,ra-
ted, the whole sum of paper will be con
cenirated as floating capital in this coun-
try, and for the reason that floating cap
tal cannot be- increased without the ma.
clinerv To pui IL in use ho ~i-.. enlarged,
which latter being impossible without tha;
the atomic value he reduced TO adapt the
aggregate sum of the capital TO the proper
proportions of The business requirements,
cents gold to perhaps 10 10 ao cents gold.
The practical consequences in detail will
then be:
!. The credit of The government will be
gone, and in case of necessity under the
pressure of certain emergencies, the gov
ernment for want OF means recognized BY
helpless and prey 10 The circumstances,
, bc such a new rebellion or foreign war.
.. L. :. bonds in The hands of foreign
nations would have helped TO preserve the
semcc rs well rs bonds in lie hands of the
Americans, the stability of our organiza-
ton and political life.
;. The redemption of w bon1s by s
currency deprecated or liable 10 be de-
preciaicd, is uudcr the plea that the gov>
crnmcnt was in the beginning cheated by
capitalists inasmuch as they (ihc transact
ing banks or banAcrs) dealt stringcnlly
with il. forcing heavy discount, is unjust
bccaLsc the present bond he.dcr,
are second, ihir'l, and so forth, parties.
whic! bought the bonds from the agents
or suco ocssive holders in good faith.
4. The bonds are kept ior very large
: an o mi In this country by parties who
have invested in them their only savings.
or savings-snd similar benevolent inslitu-
iions hold them as agents of The less wcal>
thy bu, industrious classes.
;. Debts which were contracted ut the
present value of the currency at the rate
of al cents gold per dollar, would he re
deemed by the stipulated amount of dol.
lars but nj a rate OF lO-2O cents gold per
dollar.
| Bankruptcy. insolvency and loss of dc
pcn,lcncics would bc the fate Of many au
one.
G. The deprecated currency would ac
cumuiatc in the hands of the capitalists,
whose oljcct would bc to favor dcprccia-
lion, and afterwards. when the amount OF
paper circulation was reduced TO the bus
incss necessity, ii weuld be easy again TO
mancuYcr till the government, in the hands
OF Democracy, to save its credit, would
issue again bonds in exchange for the dc.
prccfaied currency. and would do SO most
likely at the rate OF hundred dollars green
backs Tor hundred dollars bonds finally TO
lie paid in g,ld nevertheless. The whole
transaction would be but a prcconcerted
swi.dlc in favor of those who now are so
clsmorous for the poor and humble, for
the laboier and the mechanic, and would
consist in nothing but pil.age upon the
maicriali strength of possessing middle
classes and the Poor. Or
Z. The government in the Ia nds of the
Democracy would give its unoccupicd
lands 10 redeem the currency at the nem-
nal but not gold value of the grccnback
at the present time.
Spectators with money thereby wonld
get ip possession of these lands now in re-
serve for the poor settler under most IA
vorablc conditions, and this latter had af-
forwards 10 buy these lands at very high
rate improycme mis- or settling the country
would be retarded or impossible and con>
scquenIiy the industry and the resources
of the nation crippled.
In one word, all that is said and propos-
cd now by Democracy is hut dcspisablc
project to ruin the government and 10
pillagc the poor Besides the above cons
sequences, how much would the poor not
suffer If the industry Of The country by
such high handed fraud and revolution fl
nances were to be lamed for several years:
On the other hand the Republican par>
ty reckons differently.
]. They propose to buy back at current
market prices as much of bonds as the rev.
enaes will allow.
=. To reduce the rate of interest. To
reduce the interest from per cent. to
per cent. is equal to redeemiDg ono fifth of
the principle. BY these means not alone
the credit honor and stability of the coun>
try is preserved but also the burdens are
lessened.
3. The Republicans mean to wait a it
tie with the final redemption. Their rca-
sons are because the population of the u.
S. increases every year per cent and the
property of the nation per cent. There
by it happens that The rate Of the debt per
head is reduced and the capability 70 pay
increases.
4. ANY losses by sudden changes in the
value Of the paper dc liar are obyiated and
consequently the public, who would un>
fortunately hold currency, net compelled
to pay the government debt contrary to
the principle, that ire burdens should be
borne by every one alike.
8. The industry Of the country il not de-
prived Of the necessary stability of values
and consequently Is able to give focd and
e,,nocrf er Tho lab<~;v,ex ,1oreo~