, 1875-08-11
GEN. JACKSON ON THE CURRENCY QUESTION.

tlon, Andrew Jackeon Ia tho fhthcs of tho
Democratic party. Ijo croatod 1t, blow tho
breath at iife into It's nostrils anil founded that
groat organization. H.ated In different words,
Con, jackson Ia tho rock on which That party
was built. 1Iia fiery. invineble spirit has ati-
nntod It over Ginco. TIls Father u Ucmoc1Acy
waB thorough believer In Bolil mopoy, aud q
lifelong c1sotny to every schema for floating
irsodeomah1o paper or dcprcciasod currency In
place Of proetoua metals. Let us .ruotn frnm
Jsckron'h annua, mesHAyo ~ t'ongre.n In IB:G,
in which Lo lays down tho following sound prin-
ciplea:
apparent from the whole context Of Tim con.t.-
birth tn IT. that It wAa tho purpose nj tbs C,mvctl
70 tstatah eEIcucy c4H'hlslng OF tho Irtcins met
als: 49,, Tnse fsn ts', i",rar ro"r'i, whlch rstA'
tries, we're adopted In this. we'll to establish tt4
ncr"sl stsm'ar In reference 10 foreign countries ,ya
permanent rule. ~ to s1cIda the IT muua! na.
lth uf exchange, surh of certain agricultural rutn-
m"'tlc' re'ogn!zed by the satnten ii some tAt, b.
shnder for dobts, Or Tho Ht!tl more reruious ezpc
r~rsb1c'e4s nust ever h~ The characteristic NJ rr.
rehoy "f which tho precious tosAis the chief
iHEted!rht, or which can 1o EaInidrl contracted
without regard u the 1r1nripIe4 tat rlate thu .n.
q ho.o ,"s1a" as stans4 In thc general trade If
Tho prHress Of e1rsns,nn, or rathor Of fcpre.
eiann nf i|io currency Ly siva hlnk tsyscs il
ulxasr attended by ioas to the lalorng rlasarA.
Nl"n, by lilo depreciation In cuusaiuenee Of thu
quantity u! paper III circulation, waKea well ~
lrtcla econs ernrhftaEt. il Ia fnnl thut tho
whnc effect of alultcratlon " Tariff our home III.
detry for tho benefit Of the conntfea wl.cra gold mud
silver circulate aud maintain uniformity and n,oIor-
TGo paper syttem heing founded On pu,,,c conf
dnncp and having uf tlrtf f iutr1lao value IL liz
lAtle 10 great A. sudden ttnctuatinna thereby rem
during property aecurs and tie wayea uf labor
aE0aLy And uncertain.
In nnnther message to Congress-, President
Jackson declared against t!le great tax which our
paper nyHtcnl has HI long colicctod from thn
earnings Of labor. IIo advocated tho suppress
sion Of al bank-bi;Is below sl0 OF s2o. dorlaE-
lug that Il WAs apparent that gold mud Hilver
would tlinn soon lake their places. and become
the principal circulating Medium an,0nH tho ,au-
ple. Again. IN Jackson's Farewell AltlroHs to the
people OF Tho Unttol States. he uttered thu fol-
lowing sagacious words, which have tho 1l0Rt d-
rect aud pertinent application to tic present
financial situation Of tho cuntry:
Tue Constitution Of The United States 'tn1lestion-
ahly intended to 9otugG the people rrrultiu1 3nr-
liufn Ut Ko nI,l silver The establishment af ta-
1ioal bank By Congress- With tho rrivcEo nf A.utj,u
nl the unfortunate conrre If legislation In tho hry-
rra Btatcs upon the subject, drove firm general
circulation tho constitutional CuEreAcy auu nnlstttEa
unc Of paper III itH 1,laee.
II was rnt easy for msn engaged In the ordinary
pursuits uf buRlHcss, who4o a,ettio, hat not Gtei,
consequences Of currency exclusively OF paper md
ought nat on that account, 10 u Bur1ratti at tho
facility with Which laws were oltatnr cnrty intn
pfIcct TIN upper syHtnn. nnuc.t and eu4htfnra
ihln statements Of tue csigntuc t c1rcricnco Las
INV proved the mischief and d,ngcrs Of paper cur
rrnrt, aud It rests It'll you Iees1i.1u wi1ctber tho
lrupur rcl1cly shall bo aprlicd.