New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-10-21

oOugeO 10 CONFORM itself In value IN any
regard to the gold dollars of any other ma
ton OF the world, keeping itself always
stable and fixed, go that when all the prop
erty OF the country adjusts itself to it as
measure OF value, it shall remain fixed
standard forever. But If it is ever changed
1t shall change equally and alike for the
creditor and the debtor; not as the dollar
based upon supposed gold, whose changes
always have given the creditor the adyan-
tage.
1t the greenback is given "fixed and in
trinsic value" it will fill the requirements.
10 have this it must be fundable at all
times, and in a sufficient number of places
10 make it convenient for the people, into
bond bearing an annual interest of three
sixty -hiths per cent, payable semi-annuaIly,
which bond shall be reconvertible at the
pleasure Of the holder by the United
States again into greenback dollar which
ought to be made the legal tender of the
United States for all debts due to or by the
government or individuals.
General Buffers proposition adopts rate
OF interest-th ree-sixty tifths per cent-be-
cause of these controlling reasons:
l. In looking over the world it will be
found that the average investment of the
gold dollar of the world in government SO.
curity will bring to the holder thereof only
three per cent. Therefore, the. proposed
greenback dollar, being always fundabe at
800 per cent interest, will be equal at least
to the gold dollar of the world whenever
that gold dollar takes the form of accumu
lated capital for investment, and at the
same time will pay every species of debt
with equal cert ainty.
Other reasons, such as convenience for
calculation, etc were cited. A high rate
OF interest had been the curse of the coun.
Try tor the last ten years. He was inditfer.
tu; whether this three-sixty We interest be
raid in gold or currency. He found that
le securitl. selling to-day at the highest
prices are currency sixesH This answers
all the things and sneers with which the
greenback is literally besmeared by the
oullionists as "depreciated currency a.
tailed paper" as "broken promises" when
they themselves are buying bonds payable,
principal and interest, in this same cur
rency at five per cent higher rates than
bonds OF the same government, payable
principal and interest in gold at the same
rate, simply because the currency skies
have a longer time to run; while, if the
builionists were honest and sincere, and
doubted the stability of the government or
of time would be the must formidable OBJ.
lection to the Investment.
Inc lecturer then proceeded to explain
more fully the details OF his proposed sys-
tenn, at the same time outlining the many
advantages he claims for it. Then he un-
deitook to answer the many objections to
1t, ling it was not wonderful the banker
and money Lender opposed the BY stem, since
1t would tend to deprive them of business,
making the government the great banking
Institution for the people. He claimed that
it would also have a strong tendency to
check speculation and overtrading
1t was remarkable that in all countries
and in all cases of business depression a
season OF oveitrade and speculation almost
do mi
ago he wrought out for himself the plan
| now presented, and he had no motive in
presenting it but the public good The
question was vital one, more seriously
affecting the laborer than the capitalist; for
when times improved values increase, but
the workman's lost opportunity never can
be regained. The lecturer concluded in the
following words:
Therefore, at all risks and at all hazards,
stand here before you, giving my most
earnest convictions in favor of non export.
able, incOnvertible currency, which shall
have no relatian of redeemablity to gold or
silver stand here for an American eur
rency, such as belongs to our system OF gov
eminent, a part of our free institutions,
where each man is the equal of every other
man. Finally, l take leave most emphatic
ally to repeat my words of seven years ago:
II stand here, therefore, for interconverti.
BILE paper money-ths greenbaek-which
has fought our battles and saved our coun-
try: which has been held by us as Just
equivalent for the blood of our soldiera the
lives of our sons, the widowhood of our
daughters and tive orphausge of their
children, | stand here for a currency by
which the business transactions of 40 900,
900 of people are safely and successfully
done which founded on the tai h. the wealth
and property of the nation, is at once the
examplar and engine of its industry and
try in war, and which has given it pro :
perity and happiness in peace. To it 4000.-
QUO men owe their emancipation from
slavery; to it labor is indebted for elevation
from that thrall of degradation in which it
has been enveloped for ages. l stand for
that money, therefore, which is by far the
better agent and instrument of exchange OF
an enlightened and free people than gold
and silver, the money alike of the barbarian
and despot