Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1870-03-24
The Currency.

to some extent. the demand
throughout the country. for more
money One is to issue in green
back currency $50, OOo, 900; the
other is the Senate bill to distri;
sbnte 1 $45, 100000 .fof National
Bank circulation. With the PEG
pie who -actu ally need the eddis
ton ir the circulating medi6m,'
1.-The laboriug and busib ess. men.
of the South and Vest, there is
anauimitybNas to which ofthe
two propositions should be- adopsl
ted. More money is, without
doubt, demanded to carry on
the business of the country, and
that money should be of a ma.
tionaf character, designed to cir
culste all over the lands and not.
be confined to one section. This
can be accomplished by an issue
of greenbacks, while it1wonld
not if the Issue is OF the Nation
al Bank denomination - ilsl Esdi
q National Banks were institut-
ed bya class of men-monopo4
lists and capitalists-for their
own special interest, under the
pretext that more money. was
being Furnished for the people
of ali sections. This would have
been accomplished, Eitois tsueSSto
some extent if the5sbanksVha had
been properly distributed; but,
as they were. established EXPRESS
~ for the, interest of a certain.
GLASS; of monied men, they were
located in sections where these
men could reap the benefits
The major part of the banks
were located IA the East, while a
= HHrHNN41 mLsM NNNE 20
few. of them were scattered thro'
the West, merely for the appear.
ance of Justice, while in the gen9I
eral distribution there was no
display of justice whatever, and
theinterests of the few only con-
shifted. The banks were given
to the East and the money be-
ing Of a local nature to some ex-
tent, at least, remained In that
section. The demand now for
money comes chiefly from the
West, and the reason is plain
enough, there is an insufficient
circulating medium to do the bu-
siness. -g7lls 7sli ids
have no hesltancy in givS
ing our opinion that an issue of
money of some kind will be
made during this session of Con-
gress. The demand is SO great
that Congress Can not. ayoid giy-
ing it attention, and the most
important question is ato the
kind of money Ghatawill be an
thorized. Which class of people
viii Congress favor, their consiit-
uents who have an actual need
.oftRe moneysor the bankersand
eapitAlistsawho faney7theyshould
be favored by an additional IS
sue of National Bank money!
The people demand greenbacks,
and the reasonssof this demand is
so plain as to hardly justify an
explanation First, the new is
sue should be greenbacks, be-
cause they are under the law,
and we win not stop here to
question the wisdom of that law,
legal tender. This, as a natu-
raj consequence makes it a bet
ter moneynthan that which is
not such a tender. Second, the
Inconsistency of,the, whole Ma
tionaf Banking schemeis so ap-
parent that it is looked upon by
the people throughout the land
as a gigantic fraud and monopo-
ly, whicheit undoubtedly is,and
being such should not be aug
mented when there is no neces-
sity whatever for such a move.
the demand for money
peTgfs from4afparts ofthe conn
try, and more especially from
the West, where the National
Bank money if issued, would
scarcely find it's ways in sufficient
quantities to be Of any benefit
whatever in relieving the de-
mand for more money in that
section. The banks are princi-
lNaitv located in tba Ros %