The New York herald., 1875-09-24

medium OF payment for all countries entering merchan-
chandise for consumption at American ports.
The ready cant Of subsidized press cannot persuade
mankind that printed legal tender obligations of this
Republic Is rag money" IN contrast with the paper
promises Of individuals who exercise the corporate
thorities and license OF the government "The
creature cannot be greater than the creatorn am,
very respectfully your friend V. r. PIOLLEE
EUGENE BEERE, Secretary LegalTender Club, ], 1913
Broadway.
The next speaker was Mr. McGee Of Illinois who
came forward and said that thirty years ago he had
walked the Of New York ragged and hungry
now IS well-todo citizen of Illinois He asked, 'What
do you know about finance Y and receiving answer,
proceeded 20 give his own ideas the subject He
said when he returned TO this city after absence OF
three in the West he obliged sell the bank
notes which he brought with him at a discount Of
ten or fifteen per cent they would not pass current
here HIS capital was reduced about 81 by this opera
ton His labor spent in earning those 81 bad gone to
enrich somebody else This IN the days Of gold
and silver When greenbacks were introduced he had
cried ''EurekalN He had now been doing business IN
the Western States for thirteen years and had accuu-
lated little propery but he had not handled 50 IN
gold during that time Greenbacks were nothing but
tool Tor the exchange Of values and they served the
purpose well gold while being Of much less value
To discard greenbacks and use specie would be to act
like who should throw away 81 plough 10 buy
$50 one, which could do no better work.
The proposition OF the hard money
that We should sweat and toll 10 produce corn
and wheat and other commodities sell them TO some
other country IN order that We may acquire gold with
which to redeem the grecnback and burn up; that
should toll for this object which would not add one
ota to the comforts OF our people Since the intro
ducton OF greenbacks have had fewer counteriets
and less discount on the currency than ever before
Many minds cannot understand the Of values;
they talk about gold being the measure Of value This
was a mistake When you have greenbacks at a par
with gold your greenback derives value from the
gold that must be estimated by Even in times when
paper nomnaly a par with gold il had no other
foundation than the confidence of the people In
short, the greenback good for the purposes
Of exchange gold, and much cheaper tool
r. M. BoyntOn, who announced himself as "a log
cabin boy from Ohio where all the great statesmen
in favor OF national banks, - spoke in very forcbie
manner on the question. His chief point
deayor to obtain answer TO the question: why does the
legal tender Of France remain par gold though it
is irredeemabeY" Failing to receive any he
soon subsidized
At this point the meeting showed unmistakabe signs
of impauence, and the motion 10 adjourn, which was
made by some unseen and even unheard by any
but the chair, who put the motion and declared
RED received with cheers. II is but far however
to say that at one time, during the delivery of Mr.
Cranes speech there signs of disturbance
ring which, however, was prevented by the prompt
action OF Captain McCuoch. who present with 100
officers under his command throughout the proceedings