Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1875-12-03

where, a1L+r weighing, hllOS, applying |
acid. and asking ne many questions as
to where 1 obtained 1t, &C., &c, | was |
offered $40 Az in greenbacks. This L
refused, OF course, and then called on |
an assayer on the corner of Libarty |
Place and Maiden Lane, where, after |
q s, milar experience to that Just related,
L Was offered SIC SO in greenb-cks. |
On tho same day jeweler offs ed me
81 80 for it. Another ventured to say |
that he would give me So 10. You
seq, he figured very closely; he was
anxious to do me tull justice. Still
later on the same day, L stopped a res
taurant, and asked the proprietor If
he would give modest supper, and |
take the piece of gold in payment. |
This he at once dec:iued to do, bur
kindly offered me credit (although /
was a stranger to him) until | passed
that way again. To cap the climax,
offered it to Il conductor on one of our
city railroads, in pigment OF my fare,
and he, evidently thinking [ had 10
money, kindly proposed to take it L.
lieu of six ceuts, or let me ride free,
but refused to give me six cents IL
charge, which I suggested would be
required to pay my fare when L re-
turned.
after such an experience I conclu-
ded that whatever else gold might be
good for, it was not necessarily mon
ey."
When greenbacks were made a le
gal tender they became thereby the
Standard [ val ue for Us, ard the Sec
rotary Of the Treasury decl tred that
by that act gold was demonatiz d
and hal become, as it has remained,
an article of merchandise.
If the act, as it Originally passed the
House OF Representatives, making
greenbacks a legal tender for all debts
without exception, had become a law,
and the currency had been allowed to
remain as it Wa for few years, there
would have no trouble about it but
the Senate put clause Ill the bill "ex
ceptng customs duties and interest on
the public debt" tnus expressly dis
h0noIiDg to that extent the govern
meut promises to pay, and we have
had endless difficu ties ever since. Ii
the next Congress will strike out that
provision, and leave the currency AS it
IL, and at the same time repeal the act
of Janusry IN regard to the resump
ton of specie payments, the people
will tiud relief. That act Is mere 6ru-
til81 tuLnen at best. Tie govern
ment cannot RESUME actuai specie pay
lnents at the time designated. "Samp-
Sou wa y strong man and Solomon
IS wise m1n," said u topper who Was
dunn@d fof his nQuor bill but I'll
~ ID II eiEh-r OF en- could Fay his
{. hts if ne didnt hare the MONEY
r'at Will be- the crnII,ion of the UuI
id Scase5 on the 1-5 of January, 1879,
aud Any attempt TO force a re -umptlOU
/ 'pecIe payments Can only prove dis
II O IS.
i.e only salvation that can see for
tue people is to reverse the financial
engine, and instead of multiplying ma
t1unai banks, md with 1rawlng the
greenback clr,g,atiOn rs proposed to
abolish the national bank system. and
make greenbacks Il legal tender for all
debts, including customs duties. The
only necessity that exists for gold Is
that which requires the government to
pay interest on it's bond and gold
for this purpose can be purchased in
| open market by the government lust
as it is by individuals. OF course the
| gold gamblers would object to this,
| but this government was not estab
| lished for their especial benefit, nor do
| the people intend to pay tribute to
| Guen II Iney c III uelp IL.
Another cause Of complaint which
| the farmers and producing classes
may justly alIege against the govern
that has prevailed for some years
rne people never reaIizo the great
burden of high tariff, because it is an
Indirect tax upon them. If the same
amount WAS directly assessed upon
and collected flom them by the Off
GERS Of the government, they would
soon rid themselves Of it. The con-
test between the protective tariff MN
aud free trade men is almost as old as
! til" government Itself. Wien ii anu
! featuring was III its Infancy reasoua-
| bic protection of that branch If indus
try was clearly Justii4hlc; but it ta5
| now been protected for ii hty five
! years. and ought to be able ly THE
time 10 stand aloDe, if it ever is to be-
! Extravsgant opinions en- both eido-
| Of EL,3 question are entertained. IS il
ususl, On such subjects, but the tru L
! lies between them, az is also usual
| S'.nsted as W. are, a tariff for revenue
i, 'ndi~pensnble Abs ,'ate free trad,
-c;ie ,.bolIHhmtui Of ali custom dn-
tbs out of tha question; nut the
align rae of daties wisIch now preys;is
= unnecessary 70 the manufacturer.
~, / grorsiy nIiuet to tha producer.
Forty-twu years ago Mr.. Clay, IN a,~
p 'a;Ing for con IL uance OF the Ia. ii
OF 1889. SAID: "Give us time, e.a,e
h, fluctuations and a;5itations for niue
years, and the manufacturers in every
branch will sustain themselves against
all competition. But Instead of sus-
! tanning themselves against all
competition, they kept up the cry
for protection more Justify that ever,
aDd III 1870 the tariff was higher than
II had ever been In tie history OF the
go7ernment. The average rate Of du-
ties III the tariff of 1870 was IL p4r
cent. Let me give you one or two
practical Illustrations of how you far
mers are taxed for the benefit Of man
ufACturers, ard Uf the DETERMINATIONS
THAI are made against your interests
a'id IL favor of theirs, by the tariff
Upon all your products, taking them
i:php b.tIo iliy = barley, beef, butter,
@'.ets e, corn, curn-meal, fax reed
fsDltE, hams .hidns, lard, oats, pork,
ppLttoHs: rye, vegetables, Hhcat-you
set an Incidental protection aga INST
t'leIgn producers of about 10 pz4
ctu' bat upon ali you cDusum snch
- salt, iron, steel, leather, WOODEN
goods, cotton goods. clothing and the !
Ike, you have to pay FIR orote c:ion to
the New Eng N .rnIactnrer pbout |
80 Fer cert, II yoh hill Il beel AID |
sell me i'.de to tsnCer, when you e
back to buy perh> ps the same hid |
converted into q aida If leather, You |
ave 10 Ply b per cent. protection to !
an for soaoU f2-'turing it. AID SO ii |
= III F-undrtd other ins5aLoes. The |
:-r-.2 "a arr of he case, TOO, is-that
AT yen pay in this Incidental way OF |
t7~9tlon does not enure to the benefit
/ 'be government, buV goes mostly
H." e" pockGtc CT the manufacturer.
NV, have rapidly glanced at some
Of tie causes which have produced Tie
present depression Il the co1.tr7,
without going INFO any eiaborst, d.
cusslou OF them, or proposing, except