The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1874-09-29

changed into gold. Not only this, but
all other like bills not received into his
hands, but circulating among the
people, no matter how large the amount,
are also made as good as gold. Verify
this is the case mentioned in holy writ,
where, "a little leaven loaveneth the
whole lump" During the almost in.
terminable currency debate of tho last
session of Congress this whimsical con-
ceit was constantly repeated by the in.
fationsts pecially by Senator Morton.
No argument was advanced in its ia
yor, and no experience was quoted, nor
could any authority be found Tor it.
The suggestion reveals the same old in.
trinity, that is no one will take it un
til you force him.
II the government Of the United
States could mako its legal tender notes
answer the purpose of coin, by receiv.
ing them for duties. who believes that
it would not be done without delay?
But the fact is the government has
need Of gold to pay its interest. 1t
knows its legal tender paper is not
equal to gold, and therefore it will not
receive it for duties, nothwith .ndug
it forces the people to receive it. Be-
lieving, as the Democratic convention
docs, that nothing more is requisite to
make legal tender notes equal to gold
than few words in the act of congress,
| am not surprised at their purpose to
add $3.50. 600, coo more to their circu.
lstion. With their views Of finance, |
do not see why the new issue should
not be $1,000 600, 100 or $1,000, 600
600, as il would be all gold as soon as
| made receivable for imports.
With their views n return to specie
payments would bs futile and useless
thing.
This is probably the reason they
have made no aliusion to the subject.
With my views, the imitation of this al
ready vicious and dangerous currency
Is the open road to the ruin of all in.
dustrial commercial and financial IN
terests and there is no safety in any
policy which is not intended to lead us
back in due time 10 the specie basis.
Opposed to this unreasonable and des-
perate programme Of the Missouri
Democratic Convention, stands the
clear and staiesmanlike platform of the
Democrats of New York, who have lust
nominated Mr.. Tilden as their candi.
date for Governor. 1t is In these
words Gold and silver the only L..
gal tender; no currency incouvertible
with coin steady steps toward specie
payments no steps backward " Hav.
ing expressed TO you, gentleman, with
out reserve, my fixed opinion the dan
gerous character of any form of paper
currency not convertible into coin at
the pleasure Of the holder, | have to
announce my disappointment in not
finding in your platform any positive
or satisfactory expressions on this vital
question. You have said "any further
contraction Of the national currsnc,
would be detrimental to the producins
classes, and you "oppose any step in
that direction" but you said nothing
t on the question of initiation. Nothing
, in respect to the evils of an irredee m
able paper currency. You do say yor
favor as early return TO specie pay
n ment as can be affected without disas
' ter, but you do not indicate how thi
can ever be effected, while you oppos,
amy step toward contraction Of the
national currency
Upon question fraught with weaI
or woe to the masses, peoples plat.
form should send forth no uncertain
sound; and have again to express my
regret that while the Democratic con
vention has attempted TO commit the
party to the fatal error that the differ
ence between irredeemable paper and
specie is very trivial one, and to an
indefinite enlargement Of the irredeem.
able paper system, and is entirely silent
upon the subject of resumption at any
time, your own platform is painfully
equivocal and uncertain upon this
grave topic.