Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1874-04-10
IMITATION.

STATES. ana tost on hltg5c. WHICH De
was well qualified to handle-ibs qsss-
ton o! money. He spoke ssusibly.
10 the point aud deprecated further
issue Of what proved 10 be irrsdeensble
notes. Jones has an excellent notion Of
VIVA; payment or liquiia;ion means. He
knows tb.; when a man owes dollar be
ought 70 psy = dollar Ani not worthless
rag This brings us to tie question Of
whst Is a dollarf Sir Robert Peel, many
years ago in the British Parliament pat
the question, " What Is 4 pound or
sovereign" Ia reply be said, sit IS 50
much gold Of slch weight and fineness."
This was an exact and satisfactory ds6ni-
ton, AMI 81 10 regard to the inquiry @!
VIA, Is dollar We may say that /, Is
80 mach gold or silver oi such q weight
and such q fneusss That i a dollar
AID nothing else Is q dollar. 30 when
the Government OF 40 ordinary eitizen
promises to pay q dollar, that is the
meaning and intent, that Oh such day
OF on demand, 1t, OF he. or she, viii pay
= certain amount If gold or silver Of al
ascertained weight and iueness. This is
al Eeil a. far as 1t goes, but What Is the
actual practice that the Government, like
another Nieaw Der, gives its promises TO
pay il full settlement Of its debts: In
other words, it reiesms one promise
with another That was eEactly MicAw-
bars case, and be though; be did not do
lis duty to his family and his creditors
unless he gave his note, b1. as TO the
real redemption Of the same, tina, vas IL
the far of dim obsc1rity Of the future
Now there has been q great deal Of
stuff aud mouutebaukism vented on this
proposition, bnt all Of them fail to come
squarely up to the issue. /, it night for
nation to pay its debts as well as indi-
yidusls, Some want to do this, some
another; bat the main question Is left
untouched. and that il this Here are
an immense number Of obligations out,
which says on each individual one Of
them that the United States Of America
will pay 50 much. Bot they are not
paid, and What Is worse, there Is no
attempt to pay them but a direct, posi-
tive, powerful move, meant to increase
these irreieemable promises, which SO
far are nothing more than promises, for
there has been no attempt to REFUGE
them to fact, Now let Us look at his
tory, at the experience Of other coun-
tries. Wha; do We fud there: We see
that an lrreleemable currency has always
led that country that adopted it to fnan-
c!al ruin. Why; simply because they
attempted TO make something ont Of
nothing. Do yon want examples, look
at the George Law issue in France in the
ums Of LOUIS XIV; at the assignats Of the
first French Republic, at the South Sea
Bubble ia England, at the contine uta |
paper Of our own country. What did
they all come t.: Nothing, or the mex /
thing 10 it. Ia view Of these examples.
is it not well to take some steps to re.
deem gradually but surely the obiga-
tons which the honor, the faith, the
substance Of the nation is pledged to re-
deem. This is no such difficult mat
ter as the Jay Cooks, the Henry
Clewes, and others Of the stock
and gold gamblers that have been
30 intimately associated with the present
administration would lead US to believe.
They, for their own necessities, their
profits, would lead US to think that this
was a terribly difficult task, because
doing 30 would interfere with their own
gambling with other peoples money.
But they are now gone to the wall aud
that shows that their schemes were not
very beneficial 10 themselves, and may
not be Of advantage 10 the nation. Can
it be sad that oountry like the United
States, with its enormous breadth Of ter.
ritory, its wonderful natural resources,
the enormous aggregated wealth Of its
citizens, can it afford to let its promises
go begging and declare itself insolveni
in the face OF the civilized world? No
forbid it, heaven. The American peopl,
are good for every dollar they owe as {
nation. They can, they will, they are
determined to pay, and it is only the
politicians, the tricksters, the stock and
gold gamblers, that desire to put off the
day of redemption. The people, as @
mass, do not. They are honest. They
want none Of your honey-fuggling
swindling schemes. They believe like
Horace Greeley, the way to resume is tc
resume. This being the case, let us lool
abroad. Look at the Bank Of England
simply q private corporation, with nj
government guarantee whatever for it
notes or its solvency, yet thu
notes Of that corporation are &C
cepted all over the civilized worlt
as equal to gold. Aud why? Because
gold is always paid for them on presenta
ton at the bank or its branches. Nov
il may be asked what is the amount O
the actual coin that is necessary to b,
kept on hand to keep up this circulation
not one third OF the whole amount OF tn
notes issued. Why? Because peopl
always get their gold when they presen
their notes, and being sure of this the
do not take the trouble to present them
Now this is a private corporation in
foreign land. Do you not think that th
American people have equal confidenc
in the obligations issued by their owl
government? OF course they have. The.
would delight in showing their faith il
its stability. We all know this is th'
case. That being conceded, as it mus
be, because actual positive experience.
shows it to be true. Why does not ths
administration, with m amount of gold