, 1875-07-21

n IN Editor Of ra+ cat-aoo rtttx,.:
CHICAGO, July ts-1n soplying to my zsasnna In
favor Of aalnr and third turr, TnR TRIBUNE rs-
marks, atnonR o'hor ta'ngs, that " No explanation II
."sn auS "~H ,t .us eus.e"s{ Toau se m
In artsnb.ci, f ropsal tha Ns.iou.l Banking av q,
and veplsca tho Nssional nank notes which coat thu
people 20 nueh ~ Interest s'eE, seas WIN green.
H.. s,,s, rne,i4.s ~ a,,'s I'm ~
for al, debts, public aud private. 1n addition to shis
10. congreas authorize enlargement Of shc volume
Of la8sl,ssnaeF raper II an5 t!mo "1en sa' IN, 10,
md .,s.r =, e,'rrsncy Or ... " "a, .tnes @
there Il not enough tsu1 not utey to be, 10 redeem
mors than one do1lar In thsee or four os necs''asy
emoan. o. rses money isos ossea oIon LOO neee
onlv of value mn. y.t,,. ,t.sf i. n..sc.,e IN and
will prove to DO tho A1phs and Omega In tic region Of
currency. g, When 'h' merchant succeeds to an In
" .a' 'n,o n's .sos. ssRes
h. cooas. ~ Mousy should bs to raut what the ysn,
s.tck ia to CLOTH. measure only. 10, 30 That tho
dollar like tho yaF' would be legal and arbitrary
"a,a ,nvn'ass ." ,ta 10 .,.s,t .,
an increase Of orr circulating medium would show
that duo importance is ahched 10 tha industries Of
The people, and that lhe aelt' 70 SIMPLIFY everybody
os,..1 ..n ~" sa1. ~ n.%o no,a. r,-a r.
u,bls bY m,kIur Il soarcs, OGDEN wn,rlook,
No. s7s '7est Adsms street.
This is frank, honest, clear, and explicit
Interpretation Of tho Ohio Democratic plat
form, carried to its logical conclusions, nnd
Of the results to which all of the inHation-
lists, OF whntevor party, are intolligently or
otherwise laboring. Since the days Of Jo1N
Law thoro has been no such giant schene OF
imitation, o1trhVaganco, and speculation, to
DO followed, rs WIS LAWS scheme, by wide.
spred ruin, repndiaton, and prostratiou.
Lot us examine it in detail: ...
!. Pay tho 5-2o bonds in greenbacke.
This will require m issue Of somo l,2oo,~
ooo.o .ooo gseenbacks. To this there are two
objections, which may or may not havo any
forco. Except the earliest issue Of go
bonds, there is no portion OF tho bonded
public debt which is open to any question "a
to the fact TINT it is To be paid principnl and
interest in coin. OF tho earlier issues. con-
corning which this requirement Was denied
and contested, tho groat bulk Inns been Eo-
deemed by the substitution OF tho & per cent
bonds Another objection is that tho orig
AiAist ~oAA1~s ""~@ %A41 Euo@tH ~ASA1sVAo "ke
That that there should mover bo moro than
24o0, 900, 900 of lega'-tender notes ontstand-
ing. A third objection ia TINT under tho
decision OF tho Supreme Court the making Of
paper notcs legal.tenaoE was only legal in
tinio OF war, as MI extreme measure OF natural
defense, and would be wholly Illegal in time
of paaco.
a =. Ia -
Banks and Of tho National Bank cir
oulation, md the substitution Of green
backs therefor, tho Inter To b re-
oeivabte for duties on imports, as we'll 90 al!
other dues, is but proper meaaaro following
the payment OF the go bonds with groen-
backs. The only defect in the proposed
schone Ia that to pay the interest on tho &
per cent bonds gold will be required, and to
romedy this these bonds ought also to bo paid
oil in greenbacks; in short, tho whole M
ttonal debt should bo reduced to tho form OF
greenbaeka, and bondholding DO abolished
and prohibited Oh O crime! Why should the
Government pay ono man interest on it's debt
andnot pay tho othorn? In tile grand levoling
that is to take place that there may bo but
ono kind Of money for all Glasses. an interest
bearing bond will DO wholly out OF pface.
4. Having iasuod grcanbacks in suf1lcisfat
quantity to pay oil the whole bonded debt,
1t may not be necessary, but still 1t would be
in perfect sympathy with the general scheme,
to issue moro greenbaoks, from timo to umo.
az the interests of tho country may require.
The intorosts Of tho country should not be
}ai tf1 u7,{fop $o.{ &1f.