The Morning herald., 1875-09-11
= Naes1sas HIRAM published
,,''WILMINGToN .sEPTEMBERll, 1875
,rHE. CeS,rr.sCArloxIIsr,s , CAN'T.

~ ,rHE CeNFlsCATIOxIsT's CANT.
NEAT la~t the ignorsnt cant Of inaationis'
has been nsed by two of our city cotempe
rasies Int evening. Neither Of these joui
halls pretend to understand tie question
nsr DO they in any way marshal the areu
ments up"n these-the greatest Of all ma
tional issues Of theday, We will endeayo
to do it for our readers, and fully presen
the case as it stands. The Commercial talk
Of imitation, rag-money and repudia,ion
IT, .cee cotemporary calculates, amen
amen to a speech Of an old Bourbon from
Pennsylvania, who is antiauated enough I.
have been purser for Noah when lie sailet
the ark. ~ a.}j Ary u .r92
Thi. scheme Of confl<cation, planned b,
foreign md domestic capitalists, and sus,
tanned by the pens of paid advocates and
the vcnsi i neil Of, the Harpers' is one
charged with % lnl,c!, danger to our c;ti.
Gems thai it will compel the party Of the
people 10 oppose it or fail in its mission.
These people who cry infationists and
prate of ras-money, what do they mean
What other money have we had for fifteen
years but rag-money? With it we success
fully fought the greatest civil war known to
history. With il the ruined fields of the
South and her rifteI cities have been re-
stored. With it American commerce has
been again yivifed, and the American flag
carried into every port Of the commercial
world. Yes, the splendid and well-earned
fortune of one Of the corpora.ors of the
paper that snarls and sputters upon ques-
tion beyond its ken was sclidly laid with
rag-mone.y. What is the meaning of this
lying cant OF irredeemable paper-money :?
Viii! it not redeem anything? Tell US the
product it will not buy. Even the confs-
eationisis idol-gold, it will purchase at
its market value. So much for our rag.
money. 81,
What is the aim Of the advocate, Of spe-
Gle payment in 1S79-to rob every poor
man who will owe dollar upon the lat Of
January in that year? We put this ques-
tion, and ask an answer. A moroccc-dresser
OF one Of our shops fought house. we will
assume, in 1870, subject to mortgage ofI
$1,000, or about $500 in gold. Twenty
days labor, when he made the debt, was
about the equivalent Of the annual interes,
upon tie mortgage. The effect of the
threatened compulsory specie payment in
1879 has already lowered the wage. Of the
debtor, TO about 81 per day. Under the
pressure of specie payment his wages will
probably go down to $3.50 per day, COM
pelling him to labor forty days to pay $50
per year to the holder of the mortgage and
ifthe principal is called in, 5000 in god is
e1ac;ed, more than the creditor-judged by
the gold standard loaned the debtor. Is
not this robbery and oppression of the poor
by act of Congress? Mark, meantime the
creditors income, under the slrinkage oil
values sure to come, will buy more car ,
rlages, jewels, wines, and labor Of the Door
than at any former period. Shame upon ,
those advocates of Dives, who clamor for a :
'tate of things that must widen the yawn-1
ng gulf between capital and labor. The
people whom you call inAationists desire
10 expansion beyond the honest needs Of :
lie country. What do they want: sufi- :,
'lent volume of currency to be issued bv -
ne United States, to the payment Of which =
very house, farm, factory and shop; of the &
'ation will stand pledged. How are we to :,
rriv,e at The measure of our wants By =.
nalogy and experience: France, will, :,
population about equal to ours has paper
urrerty Of 5000, GOO, 900 of francs, which,
alouttLirty dollars per capita for her n
ntire population. The United States have Il
ot q,itc SSoo,00o, 600 of currency, or about b
ighteen dollars per capita. This glaring te
efficiency tells the story. Mt all the HI
tory. Not all the story, for we want h
reat ideal more money than is necessary in al
rance. Labor wages throughout its range N
twice as high hereas in France; and prices til
nearly everything are about twice as high m
ere as they are there. How are we to set st
lbor to work? How are we to make OK. h,
hangcs under such state OF things? If ar
ur needs are greater than France IL make k;
ur exchanges why should not W. have the VI
eans to do so? Why should we not save 81,
10000, 900 year we pay on bonds over It
lie to the national banks, by issuing cur ii,
'ncy which would be as we'll secured as IN
e bonds in their place! Will any one tn
,sn, ~