Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-10-20
JUDGE JERE BLACK.
Sensible Views of Sound Veteran
Democrat ON the Financial
Question.

The New York World, of the fifteenth
instant, contains two column interview
with this sturdy Pennsylvania Democrat. We
copy below that portion which refers to the
currency question:
Reportef-WAat are your views, Judge
Black, on the money question?
Judge Black One of the worst and basest
things ever done by the Unconstitutional
party since it first came into power, in 1861
was the debasement Of the currency, which
was then The best in the worid-soliu gold and
silver ! say one "a the worst, for admit that
the destruction OF jury trial and habeas cor
pHS-kldnapplng, robbing and killing men
and women for their political opiniOns-hand.
ing over whole states by fraud and force into
the hands OF uncOnvicted thieves and I'M
logged neg oeS may be Just as bad But how
could anything ne wore than the m saSures
which expanded all nominal values and &C.
tually compelled creditors, pubic and pri-
vate, to accept One-third OF their debts a. a
ssti fac ion for this whOle{
Reporter Was the legal-tender act uncon-
stituIiDnal?
Judge Black-Of course 1t was, and is and
will be as long as IL lasts. The decision of the
supreme court compels us to submit to it.
But no court on cal, h can make any one who
has read the constitution believe that the gem
eral government has power to come between
Two citizens Of a state and determine he "
their contracts witt enc smother uhaIl be ex-
ecuted. Congress had M jurisdfcti6n1n such
ma tiers. 1t belonged 10 the st ates, and the
States have bound themselves not to exercise
ii in such manner as to make anything but
gold and silver coin legal tender. A promise
10 pay dollars cannot in the nature of thinzs
man agrees to deliver certain quantity of
pine boards, can c1ngreSS sey tEat the prom
Use shall be falflled by the tender OF buck
wheat straw?
Reporter LGn1tt congress has said that nar-
tain kind of paper snail be lawful money of
the United states, and does not that make it
money?
Judge BIack-No. That which isnot nonev
at all cannot be lawful money. II congress
declares that straw shall be lawful boards of
the United states, that will not make it so,
10
reason OF the thing. If this kind of transub-
sanitation can be effected by mere legisla-
ton, don't you see where it will lead? The
States as well as the United States may eyade
the constitutional interdict by saying that
paper which they desire 10 make a legal
tender shall be gold and silver coin
The whole dealing Of our opponents with the
currency is full of shams and de usions. Like
all violations of g great fundamental truth
1t must be atoned for. II has doubled the
national debt, increased the debts of the
states and all municipal corporations, tempted
individuals 10 engage in wild enterprises,
depressed agricultural industry by the most
enormous taxes ever imposed, robbed labor of
the bread 1t has earned, demoralized the pub
lie service ana lent corruption wings TO ty
1t has indeed brought us to hard times. Those
who suffer these evils do not find much con-
ISOLATION 10 the fact that the salaries ofofficsTs
nave Oeen COUPLED that spectators have got
rlch, ana that the colossal fortunes of great
capitalists nave been sWelled 10 ten times
their former bulk
RepOrter-Are we to infer from this that
you favor immediate RESUMPTION?
Judge Black-NO; that does not follow from
anything have said. The main evil OF ex-
panslOn Is thaJ IL 10 ust, in the course of time
be followed Dy contraction, and contraction
is oppressive in proportion as il is rapid he
Erie convention Is not 20 blame fer lis natural
un willingness TO pluck down Immediate and
total ruin upon the heads of the people The
abolition PrOcrustes has stretched us ont mn
til al our joints are dislocaJed. shall We not
protest against the proposal TO shorten US by
amputauon? The injury already done us
must not be aggravated by contraction for
which we are unprepared. our enemies have
put the financial locomotive on the wrong
track, TIED us IL the rear against our W1Il. and
dragged us behind it over very rough road,
and we are badly bruised; must we ToVv Ief
them reverse the engine, go back upon us and
crush out OF US The little lie we have?
RepOrteI-But would forced resumption
however early, be followed by conssq uencrs
so fearful?
Judge BlacB-I do not know the commercial
situation OF the country well enough TO an
sWer Lhat question, but am sure the best M n
in the commonwealth sincerely believe that
the present distress would be greatly in
cretS d
Reporter-You are understood TO have ore,t
faith in the wisdom Of the fathers. Is not
any toleratioui even for q moment, of papgr
money inconsistent with the traditions Of Inc
old Democracy?
Judge Blsck-Democrats have always held
as they hold now, that metallic currency rs |
better than paper, because it is safer, sounder
and hoaester; because it is a steady measure
OF value, not liable TO be expand
ed or contracted, and because the
have always labored to furnish It; but wnen
their enemies got the better OF them and filled
the channels of circulation with paper they
did not force things before they were able 10 |
put gold In its place. When the national
bank in 1884 produced panic and pressure by |
contracting Its circulation, Jackson encour- |
Aged the State banks to supply the deficiency
With noles of their own During the spspen-
son of 1887, Van Buren, met the necessities of |
toe time by issuing treasury post notes, as |
Madison had done before him. In IB4l Gov
ernor Porter and a Democratic Legislature of |
PennsylVania, saved the people from gene
raj smash by causin a large issue of "Telief |
n tes1 The Democracy has never been mad |
enJugh to crafty its aversion TO paper money |
by Iettir z the business OF the country die Of |
mere hamilton.