The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1868-04-24

: = II ;
The 0reenhack 1ssue---The
80 0on Ssslndle. :-,s
(rrom the Cincinnati Bnquirsr.l "A
The Chicago Tribune, = boadhold-
ing organ, puts the following 4ues,
tions to US. which we will answer in
their order: - y -
n. what grsenbacks does ii
propose shall bc used to pay Che
&ve-twenty bonds-thosc now issued
or 4 nsw batchto bc manufactured
for, that purpose!" - isf
. They can be paid with the green
backs now in use, and by the 7retir-
ing Of the National bank cireula-
tion-supplying its place With green
backs, without adding :. dollar to
the circulation.. THIS has been
shown by Mr.. PENDLEroN in bis
Milwaukee speech. He said ]
SHOW, gentlemen, 1 maintain
that the $40 -bonds should be paid
as far as it is possible to do SO,
without initiating the currency be-
yond : safe and just point. Aud IL
is my business now to show you bow
rapidly that can be done. Tho un-
liquidatcd debt Of tho United States
consists Of grccnbacks and claims
which have not been adjusted. aud
amounts to $500, 100000, It pays
no interest.
"Three hundred and thirty eight
millions cf these bonds arc, by the
report Of the Secretary Of the Troas-
ury, deposited to-day as security in
the vaults of the Treasury, Three
hundred millions Of bank paper il is
sued ont the faith Of these bonds.
Now, gentlemen. maintain that
this circulation ought to be called
in; that these bonds ought to be- 70.
deemed with lcgal-tenders, which
will take the place Of that bank cir
culation. Applause. ...-..,
"What would be the effect Of
thisa The 81, 200, 900, 900 Of iatsr.
est bcsring bords suuiklhs hdnced
to 81, 400, 900. 900; and $50, 900, :
600 would. he saved to tho Govern
ment from, The interestsl which is
paid to tho bankers for bonds which
they i'svc tacpositcd.A CChccrs.l
Now, then, suppose you take
this $50, 900, 600 Of interest which
is saved, and add it to the S4e, 900. :
zoe which these gentlemen say they
can pay from, the currcnt revenue,
and you have &6s, 600. 900. year by
year. aud II. you convert that sum
into grcenbacks. at l40,, you have
300, 00O, 900 year, sud il this Is
appropriated as sinking funi, sou
can pay the whole debt otf. in les 5
than fifteen years, without adding
ono dollar to your taxation or one
dollar to your circulating medium
(4tppa:ass. ss 80 r
This is upon the supposition that
the expenditures Of the Government
arc not ~ !uccd. but are maintained
upon their present monstrous basis.
With the Democracy in power, their
reduction, one-half H. certain. and
the payment Of the debt would be
corrcspondiugly facilitated. We
may and do say that the currency
ofthe country could be very pro6ta-
lily increased, with benefit to its
bdsiness sau1 isdastrial Interests.
Money Is now too scarce and inter-
est is toy. high Tue whole South
is destitute Of currency, and hum
drcds Of millions Of dollars are nec-
essary for permanent improvements
which have been destroyed by the
war in that section. Without. too
great an imitation, millions Of new
grecnbacks could be issued to ad-
vantage and be e,aployed in taking
up the bonds.eis ~.., hr74
We now give the second questions
Of tho Tribune - ~
'+''2. Does il advocate On inereasc
Of taxation to procure greenbacks
with which to pay the bonds; or does
it, propose to obtain them BY means
Of the printing press?'' MD I
Our reply to tho 6rst question
necessarily. answers the sscond,
which is but : repetition Of it. IT'S
remaining question are ,as follows;
9a.s8 Z 6Sts = sijabssk an oEdsssn
the Treasury 70 pay the bearer Is
nanyi'dollars' - are oppressed on
it,. face, and does that mean gold
dollars? .oassai 81 y ea-pas
"a. In what way oan greenbacks
DO redeemed, except in geld? vxvt
WoIid the debt IL 6aia by
giving tho people grsenbacks orders
on the Treasure in lieu Of the bonds?
's6 Would not the Government
still be in debt ~ deeply . .sr hafore
its notes called bonds we're changed
into orders on the Treasurys ealled
greenbacks! 80.
These questions are superlstively
foolish. .r.Mne iye twenty bonds, aud
there are now nearly two thousand
millions u them. bear interest at six
per cent, or Sl2C, ,OO0,O 900 in gold
annually, which is equal to 1853, 900
000in legal- tenders. The greenback
ho>.. - :,An.ao< Wh:~h 20 Tho