The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1875-10-07

All your papers and orators discour-
aged the people from taking this loan.
saying it never could, and never would
be paid, and now you want to make your
words good by reputation. Those men,
and women, and guardians, and admins
traitors, trustees and others, who took
these bonds, took them. as will be seen,
with the express agreement that both
principal and interest should be paid in
gold; yet you would force these bond
holders, and those to whom they have
sold them, to take worthless paper. l
say worthless. because the greenback
dollar on last Friday, was worth IA
and % cents less than the gold dollar.
Even the possibility of Aliens election
debased the greenback dollar three per
cent since his nomination. You put the
public debt at 100000 ,OOO If, with
only $400,000,000 of greenbacks they are
at discount of nearly Is per cent, what
would be worth if $4,000, 900, 900 were is
sued, without any pretense that they
would ever be redeemed They would
not be worth half as much as the scrip
of an institution over which the "cheer
man. of your Central Committee lately
presided. have some Ophir scrip which
| will sell for one cent on the dollar.
Three thousand millions of greenbacks
would not be worth any more than the
genuine Democratic currency of your
last President, Jefferson Davis.
You say that my party proposes to pay
the noninterest bearing debt first, and
that an individual who would thus act
would be called green, and would need
a guardian. Let me see. That would
depend upon two things If the indi-
vidual was a scoundrel he would act as
you suggest he. should, unless he from
policy, wanted to act with little COM
mon sense. You have saved 5000 from
your earnings as school teacher, farmer
or furnace hand. | want to buy some
type, and 1 go to you and tell you L want
one hundred dollars, and will pay you
as soon as can. l get the money and
give you my note, promising to pay you
one hundred dollars. but not stating
when it is to be paid, nor is interest
mentioned. 1t is understood that l am
to pay it as soon as | can. After time
l need more money, and 1 go to you for
it, You have the one hundred dollars,
but you say it is the proceeds of your Ia
Dor, and it ought to bring you some
thing, the same as if it were invested in
house, for which you would expect
rent. So l agree to pay you interest,
and l get the money. In course of time
get one hundred dollars, and go to you
ana tell you 1 want to pay it to yoa
You get out the first note, but ! put my
thumb to my nose and twirl my fingers,
and tell you l propose to pay the other
note and stop the interest. You protest
and say it is hardly fair to have
the use of your money for nothing. 1
pull down my under eye-lid and ask you
if you see anything SO green there as to
! indicate that l am not as mean as the
most petty horse jockey, and will swindle
whenever l can get the opportunity ?
The debtor in paying off one of two
| debts, has the option to say upon which
one the money shall be applied. So
take up the last note, and stop the inter
est. If ever pay the other note, and
should after that get in a pinch, just tell
me, Mr.. Miller about how anxious you
would be to accomm odate me.
You want to know how 1 would pay
the large public debt with gold. I will
tell you. Foreign merchants pay tariff
on goods sold in this country nearly one
hundred millions in gold per year more
than pays the interest on the national
debt. There is near eighty millions ma
tiI gold and silver dug from the mines
every year Ny party proposes to make
the paper dollar equal to the gold dollar.
Then the gold will remain. When. a
debt is paid with gold, the gold is not
destroyed, but put in circulation. The
same gold can pay several debts during
one year Since Grant has been Presi-
dent, nearly five hundred millions OF
the public debt has been paid, and be-
tween three and four millions was paid
during the month of September.
You get considerably muddled when
you talk about National Banks. The
Bank at this place has one hundred
thousand dollars in bonds, on which it
receives five thousand dollars in gold.
On that one hundred thousand dollars
it pays the same rate of State, county
and village tax that do on my printing
| oGH 4 I ~ n
hundred dollars back to the National
Government. 1t receives ninety thous-
and dollars in currency. Suppose you
borrow all that, and the Assessor of your
township calls on you, you must return
it for taxation. Does not this Bank
bring upon the duplicate one hundred
and ninety thousand dollars =? You ad-
nit that nothing would be gained by
distinguishing the Banks unless we sub
stitute greenbacks for bonds, as you
know very well that the interest must
be paid upon the bonds, whether owned
by capitalists or by individuals. Now,
as to paying off the bonds in greenbacks.
Look at any of your city papers, and you
will see that even now bonds are worth
from III to l23 cents for every dollar.
Now if you would attempt to pay off the
100000 of bonds held by our Bank, it
would cost the Government over $780,
600. But once issue over the limit of
$400, 100000 of greenbacks, and it would
probably take half million of them to
take up 100000. But the real truth OF
| the matter is vonr nartv vould saw tn