The home journal. (Winchester, Tenn.) 1858-188?, 1875-07-08
National Currency.

IilcSlIOII, is inc UpiIcIHn"oI t''"'' "'"
VIII leading politicians t'irouSho". '"c
country. Both parties seem to be d'-
idcd on this all important subject
lhe Chattanooga Commercial, IN reply
% an article in the Nashville Banner,
.ays: OWN it be reminded that the
avs Of commerce and trade, and hot
an act Of Congress, are now, by Their
natural forces, contracting the currch-
cy, and, if permitted to have Their way
will 70 on contracting it until the pa
per dollar shall be equal to the 8ol'
dollar" Oar ~ncighbor usually brings
better argument to support its posi'Ioh
1han it has done in the discussion Of
the financial problem,
In the above quotation the CONNER
cial assumes that the laws ofcommcrcc
and t:adc have contracted the cnrren'
cy. We cannot conceive how this can
be-, unless he means the trade ana
traffic in gold. Contract means to
abridgc-to bring into Il smaller com
pass, and if the argument OF the Com
mcrcial was worth anything, the con
traction which he tells us has been
going on gradually ever since 1866
would have, ere this, brought the paper
dollar up to par with gold. But the
whole trouble with our ncighbor and
those who look through the same IN
vcrtcd spcctacles is, they call something
contraction which is reilly no contrac.
ton. Congress, ut its last session,
enacted n law fixing 4 certain time Tor
resumption Of specie payments ana
providing for the lcsscning the volume
of our national currency, or, contrac
ton. But instead of that law cnllanc
ing the relative value Of paper money,
ay It's friends contcndcJ, we find 1t is
HAVING precisely the reverse tendency,
and is carrying us constantly farther
from resumption. Gold has enhanced
in value some six or seven per cent.
since its passage; and yet, some men
are 50 dcIudcd, 50 completely mlalua
ted in their dcvotlons to this yellow
,ylnnt, and so completely held III haho
by the capitalists, as to st'll cling ,1
the insane idea that We are marching
on-valiau,ly, swiftly on the road t.
resumption Of specie payments, undc
the leadership of bondholdcr5 and @ol'
spectators, when, in truth, we are go
ing as rapidly in the opposite drrc
ton. While New York is oycrilockc
with money, (CurrcncyJ ana an
amount can be had at easy rates, her
VIC have so little in circulation that
cannot be had at any price.
We are for II return to n grccnbacI
currency. Let Congress. when
meets, give us plenty Of grccnbacks-
make them a legal tender in the pay
ncnt OfnIl debts, custom ducs as well
rs Others, and the people Of this coun-
try will have snch confidence in them
that there will be no need to talk about
redemption, specie payments. NC.
A metallic currency is u relic OF Gre
clan bar5arism. We had better make
iron and copper (bccausc cheaper met
ala. Il medium OF exchange than to try
TO return TO the gold standard. Cole
10 too heavy to "totc" in the poke
and too heavy for transportation, an
hence is never used except AS II bas
of operations by those fortunate miscI
who have been boarding it up viii
Others were spilling their blood and n
lowing their treasures to run to was
in fighting for their protection. Th
humbug has had its day. We mu
come boldly to the front. as the goC
old Pcndleton Democracy of Oh
have done, and strike down this ycll0
giant that is today depressing I'll
toiling masses of this nation AS the
have never been oppresscd-takin
their very life. blood.
What matters it if The farmer make
good crops, il he cannot find n mark'
for it at rcmuncra'ing prices? This
now the case, and the reason is loun
in the policy OF Grants administrator
to contract the currency. when the fac
ID apparent that every additional grip
on the volume Of the currency it BE-
comes more valuclcss, and the natio
gives another gr0an Of despair.
But the daylight is just ahead, than
God! No amount of sophistry o
special pleading by the friends of con
traction can deceive the people an
longer. They have pampcrcd the Ma
tional Bank gentry (tlc pets of the RI
publican party,) rs long as they WI
bear it. They have suffered from thi
giant wrong, called contraction, unit
they have become almost desperate
ana If the National Democratic Con
scn,ion will only have the good sens
10 follow in the wake Of the Ohio De
mocracy, then we may soon say to on
oppressed, laboring people, Rise VI
from the dust, for behold tho lorJ n