, 1874-03-14
Tho legal-Tenders Of the American
Colonies and Of Austria--What
Is Money!
Congressman Wards Ditls-Equalization Of
tho Currency and Legalization Of tho
$44,00o,0O0 Reserve.
VicNs of I'm Opponent Of Metallic
Money.

l
HOW did Wildcats come to Michisan Tho
answer to this question belongs not to tho cato-
cory OF natural history utsingularly to the his
| tofg o1 the finances or tho country. It involves
4 oricf roViow or tho various Hscps of progress
"Meh, aa a people, NO wore conpelled to tnlso,
III the 4'ho OF experience on tho subject OF
hnanco, or cflrrency called money. Tie procoss
seems 20 DO forward aud oackward in tho search
utter money or pcrnaps attor doii''atto', as to
"h'| nlo"oy ~ anu thoh FORWARD IN what
eoel''oo 10 DO eiso 1o OF safoeY (as 1t demanded
pie"eeb OF soeurity), t'l 1t gained tts climax IN
~, .,.o so'eallcu "lfa-Cat syssom OF Mlchlgan'
1hohce IL LOOK fotfogradc atop, mud illuminated
"s.l,. III .ue o1cess o. " security OF bi-holdors,'
Which oolohes 10 inc history after the W1ld-cata.
oul' FIRST THOUGHT ON MONEY
IN tho past VIII louSo on tho OLD Continental
p'l4B' somo OF winch Dr. FRANKLIN printed on his
own naud-press, on brown cardboard, and bor-
uolou 'no Ilntint Will Tue solemn warming that
oouhtef1e'tihg was punishable with death,"
ana 1l'ch comes the thought, that thiH Find Of
monoy mover came back to itH own again. DR..
ffahSnh pso1cetea our decimal division OF eon-
aso oi nara money. as 10 did moro other good
aud practical things, which lived nftor lin, than
ahY o'ner american IN tho o!don or the modern
tlnles'
--"0-@1
1oHowed tho fashion OF the world, up to tho
time OF the Nehellion, which settled for u8 the
important money question, whether VIC will or
not, az 1t settled 1nany other important
pohtleal Questions, to this exteut: that public
credlt could bo organized In public money; aid
tuas hu OF money ls OF equal value, III Rtl plncoH,
20 sho oSsont of the pnolto domHin.
THE F1Ear ORGANIZED nA.JKs
Of this country, where capital existed, wore or
nanized to RIM unon actno1 c,nitp, -horL;pr
,,n,,, 1;,,o -,a,,a,, ,',,.s.'s.' -, 5
th a.on ~ i've money. Whatever t'at might be and
'neS ~ rao "eil 30 lofis as thov bankod uPon
genuine money. or actu al capital under their own
CONTROL providing tile 1,ankers wero honest mon:
and ronllv nroanoroua honl,o-. ,r,so ra,,or.11,,
rono.t so,, ,,ora ~ "oao Sano4y
's. nue. "e,o sno oat.y paIab say AltsSears
aeo, Of Nc" hhgsa''o and New York. Tho surplus
capital was there. m there it was most proper
,nn' tue Dess INK. DO stationed which were
But w1,oro ,no,,o,. ,,oa not +,,oro ,,a,,,r .,a.
"ne.o 1ov' WIS nos tnoro monc9 was
n'oss hoe"eu. (e'range naradox!) 1t is still
very much 80 now In tho country Of tho West,
tho luttor ri TINT TINA mostIv ,,nhrokon nrn;r;a
-to, ws,,,ad o sn".a .1.s.' 49,, p
n; "ans'o a, mlonoy no'o 1nan 'noy "aEIea
a1ttan a eap lucy o could @ o ooat al Down Eass
the acre. yheth or in wheat corn or potatoes.-
and n 7o, ..ors ,,,,,, ~ p,,n,,Ia ~
..m - w., 'sA"ho Wy 10 t"t!'l ono"'o ''o'
sell Tor a mucE' money; for, as land it was worth
knows that tho reality of all property
;s rcat oat,ta ona tb.t ia ,,o hs.t rooaor ~ ,ha
,rora ,. ., ',1as tas ~ 49,, o a w
"oAAu' "As ''ia ea'leo teal' a"o ho AuInou6
abo'at it.
f,o the carly settlers Of Illinois wanted money
n, oro than t1,ov wnntca anvth;ur o,Ha and thov
NV tint ,Eoir old frioni,s 4, NHssacI,,setts haa
,o,tr -, ,o na 1n,n -, 1o,,d n, a, .at
money. anil which WIS o., imnroyemomt on tho
iii C1nt;nnn,ni nnror bccnnao u moa ro.;,a '1 W
thin. tough. foxiblo nnner. That wouIJ mt cracjt
by the HANDLING. 81 the first aettlors Of Illis III
0' c11,nrrnrn r,rv
ca t,,a ,,o,o III nS,, F".. nnTA ,,.o -
State conco,n % 90 T that i was ownod M Sy tics tic Stats
and called ths State Bank. And they printed off
,no,an ,,nv Nav YGyr !un am NJ rs III
far,,or 20 ,ars sa ra", "a tiov oton
n,nch in non1 ~ of mnnov to make nricos Far tScir
p1oduSo Sa ioInsh oa o peopG po TUG oy "n
an tp 'as ~e s nss sH s Hs to e ss &C. s ss
@ aVl Eos arto Ha IL teS tHe ware s%y vely mc n
eiatea. 1hey %ent 70 ~, tno oa1A ut'a
t',a; 7 na7' art.,ocaa tso ,,,,on u"M~ to
tornu nnI thu "' oac u tho o tnna
warn anu no Soa no as ID phs
other tho farmers @ notes and tho a. notes Of the
panK), atn a., anas VIZ ~, aoons tnG @ .sa1n OF INC
mattel IhGX snreaa t4o money nfoaa'east ln
nnya' and solllng t,9'r lanaa, ana tae PIGS ai1a
the g .stle that toamea .neroon ana monny WAS
Plela' as'a eYeisooaS "as supposed 10 oo happy'
No" th1B "as inc o,
OLD hAsK OF ILLINOIS.
a'g shotila noe 10 eo'aonloea M w'th a. tno othor
ailc iater uah1 OF llinos tnat haa lts branches
II ~ Springfield, vanaa'a, slawnoeto"n, Rnd
" icago, OF which latter william IT, Brown was
q. sasl!ler ana Wn'e1i mao its nank,oulluing On
u corner Of south water and ltaSa'lo streets in
10 ~. aHd which scammon Helped to wind Up.
:, Bnt, III conrso o. SNORT limo, tno remarkable
y ! et was a!acoYeTo tllat tho oahK oeeea aomo-
guy lot a. Tue bi6 t,laI "ere outstanding; ILL
atehu VI .!!oat pe'nh utaa 'eeeiEooN. aa e'er'
oouy supposed, tEoy were pllls pnpaoe !; aud
o tho "otss OF le Was ts9 oa'!A aaa hotnhs TO pay
Misn: NJ ~ !au ho5os o. naile!. anu mortsagoa on
tho !arinefs la'!ds nnt thoso wona not redeem
Wnn To- HIATT an1 toro", su III" oa1 osa "a IL ,arote @ a
conns @ inay n 20 1oana III Hrowna History ot Hi