, 1874-05-13
Tho .rarty in power no1onn1y pledged ltaolt to
furthoranco Of tho 1atter proposition, but
!. IAH n1fTHAaEQitaLY FAILED


Many Of tho arguments Of tho tnhatoulsta
arc baeod upon the promlum on gold, aa
measured BY the volume Of currency in 1 e1Is IT.
hopes and feara Of tho pcoplo, or temporary OK
podicntH Of CongroaB, oxertod influences OF do
probaion or confidence, not easily rovortod to
sins ensa rs sst a 9 %sn upan fna N a
peace but, as to tho future, 1t H easy to predict
that. should our Government give itself up
wholly to Buch rockloss lni1attonlsta o. nov gill
Congress-. no shall finally "bEtng up to hnnn- PAP
dreamed Of by many now.
bolioyc thoro aro fow Americans who would
now censuro tho Government for issuing an IT.
redoomablo currency during tho War. Many
life. and no patriot presumed to deal otherwise
than loniontfy with tbs measures advanced dur
Ing tho War, although somo proved failures.
That, after tho War hid oousod, an irrodeomablo
currency should have boon bcaueathed to tho
country, was tho goneral expectation and its
removal or continuance iH now tho
exciting topic before the public, It ap-
been . judioious oouraa to hsve noltlor
arbitrarily contracted or expanded the currency,
but to have let things run along quietly and
smoothly, as they wero doing, and allowed tho
business Of the country to- adjust itself to tho
The inflationists say that !" Gold is no longer a
standard Of values " lot course this menus that
IN initiation Of the currency necessarily advances
the premium On gold; yet they alao say, that
:" You know tho groenbacks cannot be redeemed
in gold, and II ia q Ito to say no.'' Hore is tho
consistency that tho in1ationistB calmly and
triumphantly lean upon aud an argument par
excellence for making no effort to reaamo.
| II gold is no longer standard OF vnlueB, let
US inquire into 1t. We believe that gold and
silver are Representatives Of certain amount Of
labor bestowed IN digging them from the soil
| aud converting them into coin. We admit that
there may bo slow appreciation or depreciation
In thoir purchasing powera, aa compared to their
scarcity Or abundance; but they arc measures OF
! value
THE WORLD OYER,
and will probably remain SO for ages to come.
| Were fresh minos discovered, and tho now
precious motals found to e.ist IL tho same
| would take their place; but tho world has not
rot recognized tue near approach Of such prob.
| ability, aud, while their relative scarcity con-
Times, they will remain standard Of values the
The oi1ilized nations, at least, recognize an-
other thing and that ia tho wonderful power Of
the groat lightning printing, ng,prosses, and their
eppa9y t H emit With y s" s0nnt q d abor
| aud, therefore, each Of them wisely refuses to
circulate theBe foreign ahinplasters," and to
exchange their valuable commodities therefor,
70 for fear that some fine morning they may awaken
stolen a march on them. obtained their wares,
loaving instead a worthless lot Of papor.
The intlattonists Say that gold is no fongor
a9 Of valued step n,o any store tender
chant figures out his ten to you at 81 cents gold,
100 oonts groonbaoks. Follow up tho tea. oofroe,
sugar. spices etc: to our own Government Gus
ton onH1aso; rna Gold f. G|y sece.paee 5or ves
Its wonderful functions with the vory aovern
mont that forces it on Its own people. 6agacioun
Governmentl we'll does 1t know TINT tho intor-
est es. Ct It's dobn must DO pasd to the foreign
Btubbornly refuse to recognize the sway Of our
gEeat King, Greenback.
Maybe the groonback doesn't like tho smell
Of salt water; however, We will cross the ocean,
and follow up tho ten, coffee, and spices, a few
thousand miles farther Does tho foreign factor
receive our groonback82 No. Do tue Chinese
or the Japanese No. Coin everywhere passes
curront; greenbaoks
I doubt It handful OF fractional currency would
buy dinner III any leading hotel on tho Con-
tinent, not kept by an American, and he living
IN renoh OF a brokers' Office. Every American
starting Abroad, on a Journey, previously cou-
verts bis greenbaoks into coin. knowing how
useless 1t iB to leave without 1t.
The following Ia an Illustration Of the pur-
law doesn't make thom aiosai-tonder !" Tho
United btate8 steamer Tuaoaro1a stopped at tho
Cape de Verde Islands during the War, needing
coal, provisions, &o The articles wero obtain
a5le, but ara tue benlghted inhabitanss Of these
was only through the kindly MD Of the English
Consul there TINT enough gold could be bor-
rowed to pay for the necassaries. Tho Captain
e. e ths Tuaoa5ora had credit with the Barring Of
tain'a gold drafts on thkt firm, and the vessel
WAS enabled to sail only aftor the Consul had
borrowed every gold coin ho could find on the
islands,
It Is the boast Of the inaas!oniats. that 1--WE
never had such currency bofore, because, they
say. It will pass all over the country. ThiH is
blessing In Disguise" we admit; but 20 it
ton would be recognized the country over, at
the same time. That's all there is to that argu-
mont.
The CRY OF the merchant the apecu1ator, and
to stimulate business, Is we'll illustrated by the
"heaps Of business" done In France during the
reign OF
TIE FAMOUS Agg1dNATs.
"spread.eaglo" talk about the glory, and power,
and wealth Of France; aud believe death.
penalty was added, shonld his patriotism ooze
out. and he refuse to tako them. Nevertheless,
he did refuse, and the inevitable crash arrived.
Prior to the crash. an old hsllwoman sold 120 600
francs worth Of fish in 4 single day, a hackney
driver received 5000 francs for short drive on
the bouleyards. and Q moderate lunch at a cafe
cost 5000 francs. Everything was booming,
business was stimulated, and tho iu1ationisfaa
must have been In high glee.
A few Americans are still a!ivo whose memories
almost reach back to similar tinoa In the history
Of our own country, when 8 wheelbarow full Of
Continental currency would hardly buy return
load Of Hour. There waa song sung in olden
times that Uncle Sam WAS rich enough to buy
every man farm;'' it should DO changed now
to "Glye oyery s1nan his jill Of greenbaoks."
Metaphorlcally speaking, it may coma true The
CRY that = We have not currency enough" ia well
answered in . recent speech OF the Hon. Alox-
ander Mitchell, in which he states TINT England
has only s66, 900 600 Of papor money aaoat, while
with 100000. Yet tho rates OF interest," in
England do not average So per ocnt aud the
tntlationiets In this country aro clamoroua for
more currency 10 az to choapen money.
? AS to the infationsts' money boing tho "peo-
PIES money" let us inquire into It. We say
THE spEuuLATons' MONEY;
F1u -1.nun' Il $,,f