Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1875-09-21
NO. So.

how and.why II is, the Wall street bankers
thrOng the lobbies Of Congress and mould the
financial Legislation Of the country. Hence
We understand how and why it Is, that SO
many congressman keep an Ominous silence
on this money; question. They talk glibly
enough to their neighbors on the corners of
the street, but when they are on the. floor of
Congress, or when they publish their views in
the papers, they are as dumb as IN oyster.
Hereafter welwill take occasion 10 picture
aud describe Opr latter>day politicians, but to
do SO now would be foreign to the scOpe of
this article. M
So much for the frat step in the peoples
plau to prevent TepudiatiOn. The next step
is ITO change the financial system of the gov
ernment; it is wrong and rotten from the
roots up. Tho whole scheme was cOncocted
to enrich the mOnied class, and to impoverish
those who depend on exchanging honest pro-
du:tiye labor for money.
And that change is this--stop paying the
debts aud expand the currency back 10 the
circulation of 1866, and let it alone.
We have seen, We have suffered. the effects,
of high taxes and contraction, and we want
to try low taxes and expansion. We know
that expansion win revive business, stimulate
production, restore trade and produce flush
times. Our experience in 1865 teaches us
that
back the currency of 1865, and in less than
ten years the expanding resources of this coun
try will grow, wiilswell up to il. The natural
increase OF population and property will
operate in an annual contraction which viii
be gradual. certain and healthy, and gold
basis will follow in due course Of events pre-
cisely as it did before the war when the State
banks. suspended specie payment. If the
Wail street politicians aud newspapers had let
the prosperity of 1865 alone, these hard times
would not have come upon the country, and
our currency would have been at par long
before this. But they blundercd, and the
masses have suffered. Our present distress is
proof conclusive that tho financial policy of
the past ten years has been gross and fatal
mistake
The currency ought to be expanded until
every branch Of industry is stimulated to the
utmost production Soon as that poiut is
reached, the politicians should let it alone
The receipt is very simple: issue enough
money to supply everybody with work and
then quit. Let the growth OF prosperous
country work the necessary contraction. You
can't legisate about this matter without uu-
hinging business. The more you tinker. with
the currency the more you disturb the flow of
trade. Success in business depends on sta.
bility of times. Business can't be run on
theories. The necessities of trade are beyond
the ken of modern politicians. The laws of
trade are Eot and cannot be written. There
be three things which are too wonderful for
me, yes, four, which know not" The most
sagacious merchants csnuot give us the secret
of success They push trade steadily in any
direction which proves profitable, and when it
ceases to pay they shift their course; they
never press theory which sinks money
Blu: our moneycrats talk much nonsense most
sensiby. We know it is nonsense, because it
has worked ruin and destruction aud strange
as it may seem, while they claim to be patriotic
they continue to push theory which ex-
perience teaobes leads to the certain misery of
ninete tenths of the people.
In our next article we will discuss the duty
and the true policy of the Democratic party.
JEFFERSON