The daily Argus. (Rock Island, Ill.) 1873-1877, 1874-04-14

but the real value they represent will re-
main the same. and no benefit therefrom
will result to the people The increase will
stimulate speculation and extravaganza,
evils from which the country is now suffer-
inc. and which should be guarded against
in the uture.-Ke,oanee lIH9 Iadepesd-
eRt. y y
We do not blame Democratic Con-
gressmen that the Legal Tender act of
1862 was passed, but we do blame those
who voted in 1874 to increase the amount
issued The Supreme Court has decided
that the Legal-Tender act of 1862 was pro-
per as war-measure, but that decision in
no way jusufles the issue of S44, 100000 OF
legal tender paper in time of peace.-IttiR-
ois State Register.
1t was infamous clustering that drove
Congress in 1862 to consent to the Senate
amendment to the bill by which duties on
imports and the interest on Government
bonds were made payable in gold, which
the labor of the country is now compelled
per cent. against the money the govern
ment compels them to take for their labor.
-Sdlen (IH. Adcocate.
The country may now be considered
as having fairly embarked upon the sea OF
paper money and uncertain values. All
efforts to secure even recognition OF the
necessity of a remote return to specie were
voted down Senator Morton wanted the
currency left so that the Secretary of the
Treasury could make a new issue when de-
sirable to spectators. Fort Wayne Ind. J
Sentinel
To-day, Mr.. Morton denies that to be
true which five years ago he so forcibly as
serted respecting imitation. 1t is
safe to say that no such reckless man has
ever had it in his power to mold the inan-
cial policy Of the United States. = South
Bend (Lnd.l Union.
Every fraudulent measure in Congress
which initiates the volume of irredeemable
paper promises to pay increases the cost
of the necessaries of life for every poor
workingman, while stimulating speculation
in unsubstantial projects that add nothing
to the wealth or prosperity of the country.
I-LjgoHier Iod.l Banner.
Congress might as well debase the
coin as to debase greenbackS, and, if it is
not debasement to issue more
greenbacks or National Bank cur
rency, we would be pleased tC
know what it is. If Congress would sim
ply let the question Of finances rest, and
: let the law of supply and demand regulate
, It, as it must, healthier tone would be at
once perceptible in all business circles, and
: a much nearer solution of our financial
! difficulties would be arrived at without
further delay.-LOgdnSport Ind Pharos
/. If Congress has right to authorize
! the issue Of $44,000,000, it has a right tC
: print ten thousand times that sum. There
! is no limit to its power in that direction il
the constitutional barriers are once broker
; down Madison WIS Democrat.
: is it the manifest decree of popular
f opinion in this country that, while every
e other nation on the face of the EARTH with
. any pretensions to common sense and com.
mon honor, struggles back to a resumption
OF specie payment when it has been aband
, oned as necessity, we shall continue tc
: struggle away from such resumption? If
, indeed, this be so, then may we expect
that. when increased prices and uuduly ex
! banded business have absorbed this in
crease Of irredeemable paper currency
the manifest decree of popular opinion
will demand a repetition of the same
policy, and it will go on until the nation
promises to pay can never be redeemed
and population will be stamped upor
our history 4Nl,oauLee Wisconsin.
BY its action Congress asserts that in
stead OF decreasing we must increase thu
volume OF the currency-in a word tina
. the legislative department of the Govern
ment and both political parties shall stanC
dishonored in the violation their pledges
How long will it take for this popular con
9 fidence to be shattered? And then ?
Memphis AgalaRche,
When a majority in Republican Con
gress puts itself on record as holding tina
any part Of the national party platform i.
not binding, nor even the more solemn
, pledges of the Government, it need not be-
surprised if the bonds of party allegiance
are everywhere weakened. Post