The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-07-23
~ Governor Allen = i'll IL Tard-MpneS
Man?

We said the other day that we did not
know Governor ALIENS position on the
cure q, question, and that We had seen
nothing from him indicating tia, he was not
still, rs hc was thirty years ago, bard
money Democrat. We have since come
across Il >pccch made by him last Saturday,
ia which hc speaks As follows, and leaves his
position still undcchred, unexplained, and
uOknoHu:
Now, there are SOm7 curious facts that
artist in he history OF pplitic>, and We barc
= Singular cXcnplIiica,inn Of the statement
AZ his tine. We hear il said hv all Of the
pnw~Impcr> in that interest aud the most
Of rrcin III tits safe arc conducted by post
Ia.rrs-wr heal it-said that the Democratic
parry at Columbus, At is State Convention
lulslcd the llag oil &" rag.moncy." Did the! !:
" nat is 10 .-lnoury: Wac made il! Where
dld It com" FROM? Every ceat OF it WIS
uIulv by your prtS>-gang at Washington
r,,y, run 10y The Treasury Department.
Every dollar of this ragmoncy," from the
II: ginning TO the end. was made by you, gen.
lrmen. who are now ciamor.rg against " rag
snonev." H. ushtcl.l How CAME it in circu'
,atio,! DlU the Democrats circulate il ? Oh,
no! \ Democratic voice was not heard in the
cvuu"llS OF the country when that immense
volume Of paper was issued, aud when the
sam" Congress thai issued it wrote upon the
back OF it "This is a lag!l.tcndcr for ali
deus" and you must lake 1t, except in pay
iyy interest to The b0ndhcldcrs and in the
ctl>onl-nOuSe. BY thi, they made dscrimI-
IN ION in their own currency. They ImpaIl-
ed one faculty 10 1t and denied it another.
Ihry paid their dcbs with il, and paid the
farmers with il when they bought anything
from them during the war. They paid the
soldiers with IL; they paid pensions with it
uut hey wont pay he boudhOldcrs with it,
.dshoush it WIS specially provided that one
class @, bonds vas To be pad in it. Why is
tulsi
! The bondbol0ers have Il great advantage
| III holding this immense amount of properly,
sud al the same time paying no tSxes aud
getting their inter est plid in coin on " But
wttatever the currency is in quality aud VOL
uue, It is their work, not ours. II they call
tue issues OF the Government "rag-money,"
whose "rag-money", Is l.? Didn't you
make it? [Laughter.] Ioa made the "raS.
money! Not one dolir OF paper money in
the U:.ited States vas manufactured by
DGmocrsts. AND yet these fellows are max
ing c!amor as though We had imposed upon
the country all this "rag-money.' They
are regulating their own b3Itlug. They
are trying to briug their own spawn into
contempt, and in doing that they are doing
GOOD deal more tbaE they think they are
doing. Now, "rag money" as they call it,
is promise of the United States to pay.
That IS all ii is. A bond Of the United States
is Il promise to pay; hord OF the State OF
Onio OF the city Of Cincinnati is apromise 10
pay all the railroad bonds of the repub ic
are promises to pay. They all stand upon
the same foundation OF credit, and the man
who undertakes to diScfedit the Eotes oil his
Government discredils the entire amount Of
our private and corporation Indebtedness as
wei. The individual notes of a people who
vii. not pay their public Indebtedness will
he worth but little in Tic luoncy markets Of
tue world.
There are in the United States, including
ali the bonded Indebtedness Of the Union Of
states, cities, towns and railroads, about ten
tnrusa aud millions Of dollars, and all this vast
sum bangs upon the precise thread that sus
tsinS the greenbacks and all the bank circu-
lation Of the country. They are based upon
tie inea of credit, and that credit is alone to
be expressed in fidelity TO the institution
that issues that note or bond which it pro.
misses TO pay. They ale all premssory
notes they are all iutertWined with each
other; they form an immense credit system
IN The United States, and in every country
IN the world that Is civilized. You would
BE- SURPRISED, presume, If we've TO tell YOU
thai the whole trade OF the British Empire
from Canada 10 India-a larger commerce
thsn any country in the world, old or
young, ever had belore-is transacted upon