The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-11-25

THE SOUTH FOR HARD MONEY.
EX-SENATOR MILLER, or GEOR-
GA, RESPONDS TO SENA-
. t". TOR BAIARD.
ATLANTA, Ga, Nov. 10. 1875.

Hon. 7hOS. F. Bayard!
DEAR SIR: l had the pleasure of
reading your letter to Col. Aston on the
subject Of the finances, published in the
Atlanta Herald of this date. 'D (
While agreeing with you in the gene
raj line of your argument and most of
your conclusions, l regret to perceive in
the earnestness and pathos of your ap-
pealto the Southern people evidence of
some distrust of their fidelity to princi-
pie on this subject From another this
would be unnoticed, at least by me, but,
coming from our truest and long-tried
friend, | beg leave to meet it by an earn
est protest. know no sufficient reason
to think that the Southern people have
abandoned or modified their old-time
opinions that good money is better than
bad money, honesty better than dishon-
esty. On the contrary, | do think that a
majority of them would favor by their
votes speedy return to sound curren-
cy convertible into gold,
Newspaper articles and indiscreet de-
clarations hurriedly thrown off during
the recent canvass in Ohio might seem
to lead to different conclusion, but it is
to be remembered that the financial
blunder of the Ohio politicians could not
outweigh the strong desire Of the South
to be freed from the eXasperatng incu-
bus Of the present Federal administra-
ton. They lent their sympathies to the
opposition there without scanning closely
or condemning promptly their declara-
ton Of principles.
There has recently been no exhaust
i've discussion of the financial issue in
this section by the press or otherwise,
but nowhere are political questions bet
ter understood, or the established max
inns Of political economy more generally
conceded.
First--It is admitted, on all hands,
that the duty and power of the Federal
Government in relation to the currency
are restricted to the coming Of money,
to the stamping upon pieces of gold and
silver a sign by which the world may
know the weight and fneness of the
piece of metal, 1t is not the duty of the
Government, nor has tany constitutions
al power, to furnish circulating medium
other than this to commerce or to the
people. Issues of paper to serve the
purposes of money are absolutely with
out constitutional authority, and like all
other usurpations dangerous to the COM
monwealth.
Sec0nG-With our past and recent ex.
perience it does not require argument to
prove that the printing of any words on
paper does not make that paper money.
nor create any increase of values A
promise to pay by the Government or an
individual is worth exactly what the
chances Of payment in gold are worth,
and when no means of payment are pro-
vided or time specified depreciation fol-
lows. and finally all value disappears
with the hope of payment. 4.d.LEu
TAyd-The attempt to protract the
circulation of ofirredeemable promises by
making them legal tender in payment
of debts is simply iniquitous. in the
discharge ofits duty to protect the prop
erty of the citizen the Government as
isuines to collect, through the instrImen-
tality Of its courts, the dues af credi-
tor; it may not evade this duty without
disgrace and grievous wrong. When it
compels the creditor by legal-tender
law to accept for his 81 900 in gold, to
which he is entitled, 1000 oak leaves or
bits Of paper it abdicates its functions
and perpetrates a tyranny as illegal as
ruinous and as widespread as would be
the arbitrary imprisonment Of the citizen
without due process of law, lJ1lnotQ
\ kF0gyth- all history did not teach
the lesson, our own experience at the
South, within the recollection Of living
men, would admonish us OF the folly
and final ruin Of attempting to add to