, 1870-03-17
oLD-FAsHI0EED DEI0CRAcy.

I'LL. Chaf1e9 d8amnlln ha9 Just concluded
The publication, in the Cincinnati Comnses-
caa!, of very interesting personal history
Of Mr.. Moses Dawson, the founder Of the
Cincinnati Enquirer. hi. Dawson's edi-
tor;al career embraced the period Of the
jackson, Van Buren, Harrison, and Tyler
administrations, down to December, 1914,
Just after Polk's election. He died at that
tine. The history includes several letters
of General jackson, Mr. VAn Buren,, and
Colonel Benton never before made public.
The letta1a of all these veterans Of the
Democratic party upon the subject Of the
finances and Of paper money must be Of
deep interest to the followers of the
sgreenback" statesman OF Cincinnati, who
aspires to be their SUCCESSOR.
On July II, 1871, General Jackson, in
letter dated ut the Hermitage, wrote:
"Ihppe and trust that = kind Providence will
thwart au the evil intentions Of that sra4Rering
Henry Gs5 81 HIs asss aeRt md'4 = assaon
forth Into dtf1culttcs, then me2nly 9ntaklng out,
has become disgusting to big party: Tyler and he
~ ~ ssnR En- aE P' e sae III III
r1se without doing ANYTHING, and tho s1o-Tressu1y
Will remain unrepealed by the House OF hepresen-
tauvea"
In September Of the Bamc year he wrote:
"But, my dear slr, see that you suli can use
your pen with the rigor Of yuuth; aud now u the
time 10 use It, a. the peoples eyes a1c opening %
the great ern Of the paper money credit system Il
Is perfect hnmbuG, and there Is sufficient quan-
ttty Of gold and silver IN cur country 70 meet al
the wants Of the people and fair commerce.
Were ererJ bank LII and ahinp1astes In the country
burned to-day, re would haye morn gold and
s11se1 IN circulation In tHu months than We have
now deprecated paper. 1his was realized At the
close Of tho ReEo'ution when ths Cont co1,usnia1 ss
Mas no specie u the country. never saw
It 70 plenty. The cause was evident: there
9n s a RDaq, II Ss5e ~ = aeeP
specie vi! now into the country a. regular as the
tide: Look ~ Hayana There Is no papeI no
| ouly had 81 specie currency; aud 1t was Intended
| by the sagea who formed the constitution that
there nGTer should be q paper currency IN the
paper currency, nor hare the STATES, nor Is there
any necessity for Il The Staten have yielded the
power to Congress y coin money, regulate the
| value thereof, de- They have prohibited hcm-
selves from tssuiug bills Of credit or making any
thing tender u the payment OF debts ous gold
In December, 1911, reviewing Tyler'a
message, he wrote:
"The sages who made cur constitution Intended
| to guard rs forever against paper money cuITtn.
cy, and had strength. it would give me great
pleasure TO 50 fully Into this subject; but tbs
! n6SG 00L EA0 EQ9y FeFMNIAs tHelE1uEC7 t4as AHu'
gress has no power under the constitution to make
paper currency Of any dnd. The powers grant.
ed to Congress a1e, as you have correctly cited
Of foreign COLI. TniS ie Shows that our currency i
alone to be specie. Congress is authorized T.
levy and COLLECT ta1es imposta, &c, 70 pay III
defence. One cent Of the national debt cannot h<
paid but IN gold or sitrer coin; hence the ab
surdlsJ Of Grating Treasury notes 70 b used Il
Eo1d and sslsef: And The nv passed oJ CongEes
81 steE ai s S sa 1on 81 ri
should be collected In nothing but gold md sire
coin, and property sold ehouid le for cash only
ircei In gold q silver, as nothing else would pa
the debt Of the EnIon. These laws remain uu
rrpenled To this day. and no man has had the hal
Oh whipping the dcy1 around tho stump, N
taking bank bills Of specie-paJtng banks, etc
rceiyEble for the public dues: and nov sss Ase :
| hnyc Treasury notes IL currency, without Intel
| est, and they must md will dcpreciate It naisei
moi taut tho public faith ls pledged for their Z
cn III Rootf I'D was
WAS nut redeemed, and see no specie fund for IN
! rtdemptlou Ct these fifteen millions Of TfeaSui
notes This may he III the ietaR Of The bill shewl
hut cannot ece where tt ID to come from unle:
borrowed"
The horror Of General jackson ut I'll
issue Of fifteen millions Of Treasury note
bearing no interest, and no means provide
for their redemption in coin, must appc;
1 strnnge to the Pendletou porty, who pr
= posed to issue two thousand millions Of th
- kind Of currency. General JacEson "
:, right in his distinction between bill Of g
~ change and irredee1nab1e paper currenc
- The bill Of exchange represents money, I
other can never do SO, and can never
ra anything but due bill, or evidence Of
r. debt which the debtor does not or canr
Fay. A return to the ancient faith and
"a fundamental principles OF the Democra
II purity on this subject would be one of
~ most healthful reforms in politics VIII
"a this country has seen for half century,
NJ reform, however, which the party is who
no unable to effect, and which would sunde1
=, in twain II effected.
/