The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1869-02-12
y y IOWA, FEBRUARY, I2, 1869. "

When Themistocles asks me
for ten cents to buy top which ]
used to buy, when was boy, for
three cents, I inquire if there isn't
something wrong in our present
system Of finance? ? ,...... .s ,.. @
Something must be done. ..l 3
Because if we keep going on as
we are there won,t be any change.
When I was in Washington ] had
frequent converse tions with Secre-
tary McCulloch and he told me that
the only reason Why he didn't pay
off the National debt was because
he hadn't money enough. - '..-
That's the whole difficulty.
We want more money. s.,a
People who talk Of contracting
the currency don't understand the
question at all. "- 3D."
s Talking about having too, much
greenbacks is absurd. ' ''.'.
I never could get enough Of them
And l don't know anybody else
who could. as ......-'
l have never met With any who
objecred to grecnbacks, or who
wouldn't take all he could get Of
them.
When you have a currency which
is so universally esteemed-what
more do you want !?
Except moro of it.
Butler called on me when I was
in Washington, and explained his
bill, which he has since offered, and
the speech he has made.
q We agreed on the main points
He objects to a specie currency
as a great waste Of precious metals.
Especially silver. r :
Which might BE- made into spoons
and the coming infant, whatever
the condition of its parents, be born
with q silver spoon in its mouth.
Because the despotic rulers Of the
effete nations of the Old World
have stamped their image upoi the
metal and called it money, and
compelled their groveling subjects
to receive it as such, is the Ameri-
can Eagle to be chained down to
such a base precedent and have its
flight encumbered by the weight of
50 much dross, when with a paper
currency, light as the airy bubble
blown Of soapsuls BY experimental
youth. it could soar higher than a
kite ! l..:r r.~...1 --.. -'.,..-.-.
N. R.-This is a part of . Con-
gressional speech I wrote ont to cell
to some member who wanted to say
something effective on the Finance
question. I offered it to Robinson.
but be wouldn't have it because it
didn't mention Ireland go e. - - =
We want, as Butler says. an
elastic currency. ~ T9
So that you can ssrech every dol
lar and make it 60 as far as two.
With this view I suggest to Con-
gress to print the issue of green
backs proposed by Butler, on India
rubber instead Of paper. r
An idea that has the merit of
originality, and as the material is
impervious to dampness, anybody
who held any currency might water
his stock with as much impunity as
Erie. 5-s@' asz,-
Our present currency is ba sed on
the National indie BITE dness, and this
shows the folly Of trying to pay off
the National debt. r.:,a-
If the debt was paid off, and al,
The bonds redeemed what security
should we have for tho redemption
IF the National Bank bills = e |
But you don't believe in Nation
II Banks. aa-,z.-sss u
You remember l wrote you some
lime ago, how The Wallabout Ma
tional Bank went back on me,
when l honored them by drawing a
shock on their institution, to oblige
! friend who said he would like to
nave my check for . certain amount.
As I had owed him exactly that
sum for some time I didn't like tol
'efuse him. So drew the cheek.
They wouldn't pay it,
If A. Il. Stewart draws a check
,hese banks will pay it at once.
But they wouldn't honor . check
They are aristocra tic institutions.
They won't help poor man. !
Still they may be useful if you
rave more money than you know
What to do with.
Which is never my case.
Which brings me to the point Of
,bjection to the present currency
'ystem. #A
Greenbacks are good.
National Bank bills are not to be
ra :
And fractional currency in moder-
ltion is desirable. r |
But the amount Of money in cir
'ulation is not properly distributed.
Most Of the trouble in business
md financial circles is caused by
'cople who haven't got any money,
,ut who want it, borrowing from
hose who have it, and being unable
o pay it back again. s5ls.f
Now if everybody had as much
money as he wanted, he would not
ave to borrow. or run in debt for