Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1874-06-09
Spirit Of yeffersolr.
Charlestokn, Jegerson COUNTY, We.t Va.
TUESDAY MORNING. JUNE 8. 1874.
INFLATION.
From the Industrial Age.l

other very able paper from the pen Of Hon.
John A. Thomson, of West Virginia. Itw
prepared as reply to several iuterrogatories
propouuded in the Age, of April IL, by ..B.
FL, of Champaign, Ill. As we have already
printed two or three replies to B. F. j, and
as ve consider he has been very fully au>
swered, we are compelled to omit that portion
of Mr.. Thomson's paper. The following,
however, being additional and original views
of Mr.. Thomson, on the current and absorbing
subject of the currency, we gladly repro-
duce:
In regard to free and fair discussion of all
subjects, l am in favor of it; and upon Mr..
Jetferson's idea, that "there is no danger of
error, iftruth is left free to combat it." But.
at the same time [ must say that it comes
with bad grace from the money~mongers,
bankers, brokers, and shavers, aud usurers.
to demand, in the papers Of the people, free
discussion, and when, by the bribery of the
money oliearchs. nearly the entire press of
the country has been suborned in their inter.
est, and the views of the people perilously
shut out from their columns. Iapprove, then,
in this matter, the course of the Aqe, in set.
ting the good example of free discussion, aud
only hope it will be followed by all who de-
maud it. Nay, go further, and hope the
people, during the summer, will arise in masses,
and demand the discussion of this, the great
question of the age on the stump and before
them, as the jurors. Not only their property,
but their republican government aud liberty
are involved in it. Bullionism-the '.golden
calf'-the t'image of God" all, and each of
them mean empire. monarchy, and despot-
ism Listen to j ohm Taylor, of Carolina, the
friend and companion of Jefferson, the apostle
of liberty aud the peoples rights, as to the
''capGcity" of the people to mako a better
':mOncy paper" than interested bankers eyer
made, or eUcr 1yWmaEe:
'tNations have, for three thousand years.
been doomed to oppression, by an opinion
that they had not capacity to goUern them
seIceS are they doomed to sufferit for another
three thousand years. from an opinion that
they are unahte to give themselves q poper
currency, if it should be useful? In the
frsfc0se, the mafio" is persuaded that 1t is a
tO0l. but that a .fc'o 1n8icidunls are ,oiSe
in the second that it ia "A pomper, hut that a
te1o in'IiU'duolS arc rich. The last idea is
even L"d'cro"s. as the sole Object of banking
is tn tnr a rich. n0tion TO enrich 1o0r an2i-
0'd"nIs" Taylor's Enquiry" page 224.
MIR. Buchanan, in his inaugural address. or
fact that the average issue of all the banks
in the United States was seven dollars ftbis
precious paper money" of the banks to one
in bullion, or specie. Now, how eau one
dollar in specie pay seven in this bank spa
money!" Five dollars of the "paper money"
were manifestly bogus; confidence money"
and resting upon nothing but confidence )"
aud whenever tested, bullion has always ac>
knowledgcd himself liar, and begged for
suspension of his specie-or specious and
lying-prOmises to pay. Then ask, which
is tho uuredeemable money" of the country,
the 'money paper" of the people, or the ''pa>
per money" of these lying, braggart, war>de>
nouncing, money-stealiDg, (Mr. Jefferson
says, that "tiIched" the money powor from
the people, swindling oligarchs ofthe United
States banks, who come before the people, as
the painted ambassadors of Persia did be-
fore the Senate of Sparta, with lie on their
forcheads 2"
Will some working men" get up-"rise
to expIain"-and say to these cheats and
swindlers, as the old Spartan senator did,
''can you believe these rogues, when they
como before you with lie painted on their
foreheads ?" Is not man, or system, liar,
who processes with one dollar to pay seven,
or even three, whenever demanded? This
such currency can be inflated. The peoples
currency is representative, and rests, dollar
for dollar, on solid values; and. of course.
there can be no imitation about it; it is lust
what it processes to be; no one is deceived
he gets all he bargained for all that the orig.
inal contract for money ever called for, from
its first institution and the very term, elm
fation," in regard to it, is blackguard railing,
counterfeit aud falsehood
If the creditors seized the opportunity of a
lying shame, the gold basis, TO double and
more, their debts on the debtors, by con-
traction Of the currency, it is equally right
and proper, in the debtors, to reverse the mo-
ton, and expand until they get fairly even.
That the creditors did commit this fraud and
iniquity, and with what effect on the debtors
and labor the country, | quote from the
speech of Gen. Thamas Ewing, of Ohio, made
at Columbus, August 16, 1871. He said:
''The other. and the controlling, measure of
finance adopted and still maintained by the
Republican party, ruinous to the masses, but
most profitable to the rich, is the contraction
OF the currency.
''Just before the rebellion ended, we had
a little over one thousand million of currency,
which was forty dollars per capita, for the
twenty-five millions of people then in the
Union lines. Peace at once spread it all over
the South so that it had to supply about
twenty>six millions of people, which was equal
to twenty eight dollars per capita. This was
a reduction ofthe currency of the whole coun>
try thirty per cent, and of itself would have
caused serious check to business, then most
fourishing. But the cry was raised by cap
italist, that business was unhealthy, and that
the credit of the Government and the real
interest of the people required prompt re-
turn, by contraction, to specie payment
Nobody of standing in the Republican party,
interested with or for the masses, seemed
to know or care much about the subject. No