Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1875-08-19
1t Is Not Purely a Metallic Cur
rencY We Need.

remcy we Need
We can remember (and we are not
very old) when the Democrats used to
charge it upon the old Whig party
that their financial policy was "golo
for the office-h holders and rag money
for the people"
The wings, as the Republicans OF
the present day, were not in favor OF
an exclusively metallic currency; yet,
they we're, as the Republicans are now,
in favor of paper currency that could
be converted into the constitutional
currency, or gold and silver, at the
option of the billholder.
The Democrats want the Government
Tin order to make money mora plenty,
as they say to buy up all the out
standing Government bonds; that is
to issue greenbaeks enough to pay the
holders Of the bonds in these green
backs, dollar for dollar.
Well, If the bondholders would con
sent to this arrangement, which they
might not do-and it always takes two
to make bargain-Where would the
money go to? Why, of course, into
the Golfers of the boudholders. All
the National Bank notes that now rep
resent large portion of the Govern
ment bonds would be withdrawn from
the business operations of the country
bonds which form the banking cap
ital cancelled with greenbacks, and all
these greenbacks placed in the safes o.
the late bondholders. Now the pa
per currency is all locked up and wha
have our Democratic friends gained
by the operation? What more viii
they possess, with which to buy thes,
greenbacks than they do now to bu.
the bank notes, and greenbacks al
ready issued? Will the mere fact 0
this change produce bushel more o
corn, or any other product farme
raises, or a mechanic or manufacture
produces by his labor? If it will, W
are for the change; but we cam o.
for the life Of US see, if few mel
have all the money, how the rest of u
are to get it from them unless we hav
something to get it with. 1t can't b
got from these tight-isted fellows ur
less you have an equivalent to ez
change for it, That is the only legiti
mate way we know of, for those VIII
want greenbacks, to get them frol
those who have them under lock an
key.
We know that there is a scarcity Q
money in the ordinary channels G
business, and there are, perhaps tw
causes for it; one IS the absence {
something to exchange and the othe
is want of confidence in the mind
of money holders in the stability {
our system of currency it is too liz
BILE to be made a mere machine fo
wiley, scheming, unscrupulous pol
ticians to use in the. interests of pc
litical parties at every Congressions
and Presidential election.
What we want, if the present Ns
tional Bank system must be laid aside
is system that will be free from thes
objections, that will be permaner
thing, safe to the peopleb that will b
worth just as much in one section @
our country as it is in another, an
that can be converted into the leg;
or metallic currency at the will of tn
bill-holder.
With these guarantees, an issue {
paper currency equal to the presel
4 amount of issues, our country woul
be placed in financial condition tn
would meet the appreciation OF G
e classes and give energy and stabili
!, to business.