The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-06-20
SOUND SENSE ABOUT INITIATION

Instead of adopting resolution which is
only a weak subterfuge, and means neither
specie payment nor currency imitation, but
can he construed as in favor of or opposed to
either we wish the independent reform con-
vention at Springfield had adopted as plat
form on that subject the sound, strong COM
mon sense views of Prof J. b. Turner, as pre-
scented in his speech to Changers Picnic
at Barnet's grove, near Knoxville, on the 4th
inst. Pref. Turner was the chairman Of the
committee that reported the platform which
the convention ultimately adopted, and the
following may therefore be faily regarded as
his Interpretation of it, in which view We can
heartily endorse it:
We deny that there is either any statesman
ship or Justice or sense in the perpetual at
temp,s of the two old parties; on the one side
aiming to contract the currency to favor the
creditor, professional and salaried classes
while the opposite faction is forced into an
attempt to expand it to favor the opposite
debtor an specializing class. Such prepos.
tel Gus war of interested factions, over rival
interests, can never relieve nor provide for
the great financial wants of the country as a
whole. Neither faction can succeed; or III so,
it would make matters worse than now, be-
cause each faction alike is wrong, both in
its methods and its ends. We want neither
the kitinc schemes of the one nor the collaps.
ing schemes of the other. We have no need
to hire rival factions by the year, to bull and
bear" our currency at Washington, to favcr
certain classes as brokers "bull and bear
the gold market in Wall street
We are equally opposed to ali sudden con,
fractions or expansions of the currency; and
to all unlimited or indefinite expansion, un-
der whatever preteXts, or by whatever modes.
We wish to liquidate all our just debts, on
that lust basis of value on which these debts
were contracted, and on no other basis; and
for the present, if Congress will only let the
currency alone, and let us alone, only defend.
ing us in our just rights, we Will take care OF
both 1t and them too,
But we do wish the unjust ponopolies OF
the present banking scheme wholly repealed,
as soon as il can be done without either 100
violent expansion or contraction OF our pres
ent scale of values; and we desire that the
old original groenback scheme, so dishonest
ly and knavishly destroyed, in the Interest of
brokers and spectators, and contrary to every
interest of the people, should again be re-
stored; and government greenbacks exchan'
geable at all times at par for bonds, and other.
wise eXchangeable on conditions prescribed
| by law, substituted for our present bank cur
rency.
We no more believe in variable and fex-
| ible currency of any sort than we believe IN
variable and flexible yard sticks and pound
weights. We resign all such things to the
knaves who have need of them; they are OF
no use TO US. We believe only in fixed, hon.
est and invarable measures of all things
alike as far forth as it is possible to get them,
and shall strive to obtain them as soon we
can without the violent disturbance of the eX-
isting order of business; and in all matters
of currency, we believe stability Of nominal
cdlies to be at all times the hrsf, second,
third and the last great practical requisite for
all men alike.
The price of both gold and interest being
now at less rates ia the great centers oftradc
than it has averaged for ten or fifteen years
past, plainly shows us that our present dis
tress does not arise from any deficiency OF
money IN the country, as whole, but that
imonopolists and schemers of various sorts
have contrived 10 concentrate il, and put II
lbeyond our reach; so that while there is a
surplus of money in the country, there is
famine of il in our pockets. Under existing
conditions, should the currency be doubled,
the same game woald be played over our
heads worse than ever before, while in the
end we should be compelled TO meet all the
costs and risks of the new expansion. We
do, indeed, as we all declare, need more mon
ey Blu, we want TO obtain it by releasing
and putting to It's proper and honest use what
we already have, rather than by issuing more
bank notes Interest is now below three per
cent in New York, where the money Isles,
indeed, than many of our Western annual
taxes. More money piled up there, Will not
help us Our true remedy is 10 break down
the monopolis,s and ex;ermins;e the scheme