The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-08-22
A DEMOCRATIC" CURRENCY SCHEME.


to us with marks around three ponderous
editorials arguing that the democracy must
come out against gold and in favor of paper
money, and as the FsEE TRADER has been
maintaining exactly opposite views, this send
ing us the Sentinel with marked articles looks
very like challenge, as If the Sentinel man
said: "There-get around that, if you cam"
AS arguing i'll favor of an irredeemable paper
currency is very much like undertaking to
demonstrate the practicabilty Of perpetual
motion or the feasibility of a man lifting him
self up by the seat of his breechcs, it is easy
enough to get around hat," except with a
man of diseased imagination or struck with
the paper currency hallucInation. Charitao!y
assuming the editor Of the Sentinel not TO be
quite as bad off as that, We proceed modesuy
to question some of his notions.
Firstly, he thinks the people Of this couH.
try, and especially the democracy ought TO
attach themselves as Il tail to the paper money
kite, because the princes, dukes lords and
margrayes Of Europe, who are the enemies OF
republicanism, prefer gold to paper, 1t may
be well enough for poor people to eat lentilS
while rich folks feast on trutcs, but poor
people would be very foolish 10 refuse the
better tarc Jer0Vse the rich affect it, If the cost
of lentils aud trutiies was the same, These
princes, dukes, etc, are generally pretty
shrcwd fellows, or if they are not, their stew
ards and bankers are, and they know very
well the superiority of gold over 1uctuat'
ing and deprecated paper currency. They
may have, rs the Sentinel suggests, millions
of gold 10 lend, and in Europe they are quite
satisfied To get q and 3per cent. per annum
for their money. But being enemies Of re
pub!icar;sm" they want double interest of
us. Therefore, says tue sentinel, let US put
our printing presses to work and make n ma
tional jbit,r circulation of our own, so plcnti-
full and valueless that VIC can have all we
want of it here at low price, and Europe,
won't take il from rs. Then we shall be in.
dependent o.: the dukes, margravcs, etc. Capi-
tai idea The only addition it needs i, that
the government when It issues this paper and
makes it & legal tender, shall divide it fairly
among the people-say Il thousand dollars to
each yotcr-and pass a law that whenever
one man ccts out Of money, the next maG,
who has accumulated thousand dollars
more than his ncighbor, shall divide with
him. II is the only practicable way we know
of to "equalize the currency among the PEG
pie" Unless something of this sort IS done
Y tho
"grasping monopolists"-will Just as surely
get all the money as they do now, whether it
is worth 10 cents or 100 cents TO the dollar in |
gold, and will oppless the poor by usurous
interest.
Secondly-The >,Dti,.a insists on the COY
eminent giving Us tins sort Of currency, be.
cause, with deb, pressing upon this nation
Of so, 800 10000 a gold and silver currency
is impo.siblc.n Why 'lmpossible?" Be
cause, the SenttaG tells US, to pay this debt
dollar for dollar in gold.and silver will ncccs.
state such taxation rs must be utterly runious
But with paper money, such as it proposes,
the government can pay the debt as rapidly
as the treasury presses can roll out the green
backs and old Spinner can attach his Devil
dering autograph. In plain English, the
.Ssnt;ue, nronosc, 10 p.t rid of this debt by
the mild remedy of repud,ation. Half or
twotb,rds of this debt we owe TO Europe and
for cold borrowed at : or & ner cent interest
That would ne an enchanting snactaclo-,bi.
great and rlorious nation the home Of the
American carle--the ASYLUM or tbc onnrosscd
,r nj, pa,ions--,hc eyemnlor and ovnonen, of
national liberty and the chamnion of human
r;gb,s-tbe land or WASHINGTON Naco, lief
larson and tho1l oc INV n.virr ogi,s for
al ,,n 1o,,,ors dollar for io,,ar IN crcerh,ci,o
,ror,h I, can't, nv t,,o mound c,r ,,o,or ro,rs,
And l.s,Iv--.soys ,be s,,t;o,J orvhov. tho
woro o,popc,n is ver,. ,,ttI. understood and
,ooors manor iua, nc ,nncb a. ,,oIa ~, silror
II 81 thr creation oC The state md may consist
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