Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1868-07-23
)TERNlS 81 90 Pm YEAR.
IGT0N, FAYETTE CO.. o, THURSDAY, JULY %, 1868.

Z can Government. Our paper mon
r ey is not its par in COIN 'becaus
Z the national credit is dishonored.- -
How Gan the notes Of our Govern
t ment, which pay no interest, b
J worth their face in gold or silver
f when the bonds Of Government
/, which pay sixpcr cent, are wortI
only eighty cents on the dollar p
You Tcanhot make the notes pu
out by banks worth more than thC
I bonds which secure these notes. /
is a sad thing to say that our cred
it is dishonored in the markets oil
the world, but It is true, and it must
| be. said, if we are to find a remedy.
1t is humiliating to find that when
Great Britain boTows a thousand
dollars for twenty years itpays the
lender but 81, 700, when if we make
the same loan we have to pay 81,
700, to the lender. ,l...a s..--
II we wish to help the taX-payrs,
if we wish to get at the cause
( OF debased currency in the hands Of
tile laborer, we must first find out
why our credit is dishonored, for it
is tainted credit that sinks alike
the value Of bonds, of greenbacks
( and bank notes Make the credit
Of the United States as good as that
of Great Britain or a merchant in
good standing, or of a mortgage on
farm, and our troubles would dis
appear If we make our paper
money good by harsh system of
contraction, we shall cripple the en-
ergies Of the country, and make
bankruptcy and ruin. If, on the
other hand, we debase the currency
by unwise issues, we shall equally
perpley business and destroy sober
industry and make all prices mere
matters of gambling, tricks and
chances This will end as it did in
the Southern COnfederey. At the
outset the citizens of Richmond
went to market with their money
in their vest pockets and bought
back their dinners in their baskets;
in the end they took their money
i'm their baskets and took home their
dinners in their vest pockets. Make
our money good by an honest and
wise course, and when this is done,
it will be worth twenty five per
cent more than 1t is now, which
viii be equal to an increase Of one 4
quarter in the amount of currency. /
Business will be Strengthened, in
dustry will be encouraged, prices
will be regular, and men Will then
dare to 60 on with useful enter
prises. We find right here the
canse Of our troubles, perplexities,
and National disgrace. Our credit
is tainted. But for that, we couldI
borrow money as Great Britain
does at three per cent, and cut
down taxation But for that our
paper money would lie good, and
gold and silver would glitter in the
hands of labor But for that fact
there would he no question how the
bonds are to be paid, and we never
should have heard of the greenback
issue. But for the national discred-
it business men would not be per.
picked, and the disquiet and fears
which now disturb the public mind (
would not exist ' 4
sr - %ya-
The plan of making our currency
as good as gold by contracting its
volume carries with it great dis
tress and suffering. But if we lift
up tits value, by getting rid of the
taint upon the national credit, it
harms no one, it bIesses all. Now
our legal tender and bank currency
must be debased while our national
bonds stand discredited. They
and fall together. They
are all based upon the national
credit. Bank notes cannot be-
worth more than the bonds which
secure them. If, then, the $500
900, 900 had been duly and honest
Iy used to pay our debt, to-day the
taxpayers would have been reiiey-
ed, the mechanic laborer and pen
;ioner would be, paid in coin, or
money as good as coin, and would
rot be cheated out of one quarter
If theirdues by false dollars. The {
holders of bonds in saving banks !
,r life insurance would be better
If, as their securities would be {
iafef and worth more. llhThere !
would be no question: how they
hould he paid, for this question
grows out of the follies of those in
,ower,, and will disappear when
hey disappear from the places they
low hold. 2 The bondholder would
10 longer stand in an odious light.
lev ould not be charged with the
lxation which has been used 10 /
lurt,. not to help, his claim. If a
wise, and honest use of the public
money would have done good in the
,ast, it would do in the future, D
inns s1st*3.r - ~ *iysy* ra
I'VE say to the bondholders and
o the labonef' whoiohas put his
money into savings banks We
to harm you, we do
lot seek to give You bad money, "a
mt to get q good currency for all. +
ID willlnot help us to1break down t
be credit of your bonds ], It {
npts us3lit keeps up our taxes BY c
making us pay high interests but :
We ask you to help save as as tax 3
,ayers, from the cost Of the negro 5
nd military policy at the South h
t is hard for us to pay you II you ?
ct men in power take the money 3
-. .;,,o in tsves TO reduce your il