The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-09-24
Gollnth on Rtnaneel..

trouble as thai, Of The public sd6bt aud
finances. With al llth6ifi ingenuity, capaci-
ty for perversion and downFht mis-
statement, they are contiphally getting
themselves into absurd and ugly places.
J The financial GoL1ITi1r who spoke here
in, the, court house, on. tho 14tAs .(who
didn't know that $40 bonds bought in
by the Treasury and destroyed was debt
paid proposed that the $50 bonds SHOULD
!be paid in greenbacks, as fast as they be-
came redeemGble. This is . very simple
and direct proposition: But. how would
it. work. OF the debt in 5.eo bonds,
$9T7, ,9ls,9bQis redeemable now, There
Is DO reason why this debt should not
be Immediately paid on Mr.. DA-
yrS plan except a1aok Of tgreenbacks.
Two hundred and three millions more
viii be redeemsble on the first Qt October
and thtee hundredapd sntyiniie.mors
in t8zs. } Hers ate AaeeR bundled ana
sixty millions whichoohld be paid in the
next two years, If we only had tho money.
MI DAVIS proposes, TO pay them in green
baeksS Whete SwilI the get >tbe4gfse&-
baekst. There areb6t abouhthrdej jhnu.
drsdand fiftymilllonsin in extstcnceand only
Sbbut thirty millions Of them belong to
the Government Thistwouldn't be much
Of q start Where aro tho other fourteen
hundred and thirty millions 70 come,
fr9mp The Legislator ol Congress aus
thprlzing the greenback issue limited tho
amount ever to b, issued 70 fops hundred
millions. This was d pledge 70 those who
h4d loaned the Government money on its :
Ibqnd, and no 'gteenbacks can bS'issued
beyond that without breaking that pledge,
But ii the pledge were broken and The
Itrbasury mill set to work grinding out
Igteenbacks forthe redemption oetHe5sOs,
what thenH What is o greenback? Simply
an acknowledgements debit note Of
Illaad, s5e son qssissueds u iiO@ pes
voluntarily accepted but forced by the
government on its creditor; in brief
a | forced loan, over due, drawing no
interest and practically irredeemable.
70 redeem the 5;e0s by new Issue OF
greenbacks would be to change the form
Of the debt not to pay, it7t9 compel l4e
ctedttorto giveup anote driving gintbrest
according to the contract, Rh9Se, ultimate
payment was secured by sinking tnnd,
and take ono instead, paying no interest,
in violation Of the contract, for whose re-
dcmption ho provision - smayagfs3S n ygs 4 BHt 'tt
IiI Is still'aaa debt, to obga paid
sometime or repudiated, Now what
would become of o business house
that met is obligations in That way I
Could 1t ever borrow a dollar afterward,
Or It's members ever afterl lo6k. dishonest
manlin tho face?aa
But Nj. DAVIS would soy that taking
up the bonds in this way, liciwonld put
an end to the National Banks and GlFcu.
late the grcenbacks as currency instead Of
national bank notes. Well, how many
ereopbacks ggcouldShe float in eillis way
wnhoatdebfeciatiag the chHenoyab dow
It's present standard9 Only some three
hundred millions: This would sin leave
. vast amount Of 5.2Os unredeemed, and
theproeess Of printing more .gEeephaeSks
and I5edeenipg3 t4ehs would Sbc simply
going ssraightI to national rnih- at tlid
same rate Of speed as the process went
OIL Even Mr. D Avs must understand
this bal soraltT fs5,ai; II .E1sr al-iiia y7gy9
But the fact Is, no more greenbaelFSs
could 5bet,issueds Gand J II they, were;
theynwopld laS6t laS6 4 s4pas 4 al I euS Seasy ] n
all u foriH the Supreme Court,nofd the
United States "a tribunal tof which
our Democratic friends have the ut
mdst fey@encg hasD decided tlptT they
ard hot, and Cannot be rnades a legalteh1
der, se sfter all The Democrats will ~ hsXe !
lto sS0ntaat thamBelFeD With lredeammg
abotiIitSW 81 thousand ls d milf III
sotns three hundred and 4lss hdilllons,o!,! q!
| greehbacls.l Now, having but about thir-
ty millions greenbacks to begin With, we
don't sec that they could get along Ger
all lmuch IasE6rith6n Miro 0BoEESELI 3
doing, and the only way to get along
faster /, would \. be n btiRag mnS6SE,SII, nS "a,
baclsa into the treasupylaby increasing
tie "a staxes. y That y g SlIt8 Iailgs
only way q government e6n geet m97nelyII tI7 9!
exceptabyI borrowing. ~ low OH ooqtss
Mr.. D4XIs would not "A lbctSass : y so1 thS saxe
for hedenoppCes them as now oppre:Sssl : yely
high 50 he must boFtdW2 And ylEEl!a borrow y,
ins5 nay, debt IS IonlY bling Peter ITO
ISIia ~ @maaafking making debt hsfS to pay hsse
So after oil tho only. way the Goyerppgp9snEt rppgp = 4
can pay It's debt Is to tax for tho money 70
do It with. Now how much Is Mr. DAVIS
willing IA ioHeaSh year tbIFedssqah the
5.2O's even in grecnbacHsS That is a
practical atestibn ana 9bripge1s a9yA r
h&fd pdh. 1Perhdp sthe REg giitSt Is ddthOt-
lied 70 @ answer, a, ), .,,ls., ,.,s, 5,gs,,, ,,gH
/ 1=7==---'-- i-
Ths Hancock CoaatyTai4E
Thsgooa people ofthe e.,p topmso.t county