The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1875-06-26
GREENBACKS-GOLD.

GhEENBACkS-
We extract the following article from
the Philadelphia Ledger, of June 23d:
Indications may already be seen that
the public are soon to be again treated
to long essays like those which have
regularly preceded each season since
the panic of 1873, telling US of the won
derfpl change which is to take place in
mercantile affairs from the harvesting
of the "greatest crop which the world
ever saw" not stopping to inquire of
what use great or little crop may be to
business if 1t is to be boarded until it
rOts or wastes away. On the contrary,
the usually careful and conservative
Journal of Commerce seems to hit the
nail squarely on the head in an article
upon the existing prostration of bust.
ness, when it says
There is way out of this quagmire,
but the people must be thoroughly
aroused before they will take it, and so
many are already entangled that they
are afraid to struggle lest they sink the
deeper and fail hopelessly of final ex-
trication. The paper money system is
the leaden weight that fetters industry
and stiles enterprise. If every honest
man who knows what lie and sham
the present money standard is would
give his voice in favor of fixing a gold
price and gold standard from given
date (say September next) to his daily
transactions, and would then begin to
call dollar by its true name to enter
every trade At its real price in dollars
TO quote paper promise worth "a
cents to the 100 as an actual deprecia-
ted currency circulating at this dis
cOuntj to keep all their records In real
money, and adjust their dealings to it
on this basis, the first effectual step to-
ward new prosperity will have been
taken. This is throwing
no discredit ON Government issues, and
so far from depreciating the paper
money, 1t would tend to give it an in
creased market value. If gold could
once be restored to Its real place in the
daily reGkolings of this market the re-
lief would be so great the people would
wonder how they ever consented to the
usurpation of this nightmare which has
afflicted us for so many years.
1t seems useless to expect that any
real and solid improvement will take
place until such time as the people
shall he thoroughly aroused to the in
jury which every legitimate interest of
the oouhtry sustains at the hands of
speculation, which finds its power and
protection IN our present system of pa
per money. And right here the gold
question seems likely soon to assume an
Importance which it will be found
idle to belittle or ignore. Unless
some means be found to force our
products upon the market, so that
they shall perform the duty of
liquidation, the exports OF gold
must steadily increase and IL SO there
must come q real and not artificial scar
city OF gold. Make our present cur
rency equal In value to coin, redeem-
FNSiO ~ 5oiN Oh uOhohefg uuu buO Uuuu-
try will have the best and most copve-
nient currency the world ever saw,
There is need Of no other financial 10.
gislatlop than snch as will make all u
1t equal in value to coin. Our present
EXCLUSIVE paper currency, by which we
measure oil prices, Ia good and of equal
value al over the country, worth as
much in the extreme South as in the
Oldest State of the North, but 1t is at all
points some II per oent discount. Bring
1t to par, and make 1t perform its true
fpnctian Of money, and its amount
will soon settle to It's proper level. 1t
would be well II the commercial COM
mqpity could be induced to keep their
ACCOUNTS In real money, but If they can
not be persuaded to that end volup-
tarily then let all agitation of legisla-
tive reform on the subject be confined
to the single point of making bank
notes and greenbacks the equal OF
gold.