, 1875-09-01

ton. To.dsy tin nation t,AyH tllo tnnkA t,20.-
MFNodo VI 1nnrr Ia aiiow tnIr 10 p}ny tho nHo-
laHn patt 0f standing between 1t (tho nnti0h}
at,tl " onn cnrfency. Ds, Franklns l1oro, who
asked lin victim TO pay for floating tho poker,
! was most reaHonaLlo reraou antl Bolomon
com;hrcd wftli ourselves III thh nattor. hAvo
hoard Of III iaro1npotpnt man PIT under K'ihta-
!ishsbip and obliged to pay trtstooa ihorally
for taking caro- " lin property hut noTet hoard
Of ono pit nndnr guardianship and phT!nS ms
guardian linere!lr md tho obliged to 90 MI ~, IT,,
furnish tho credit that supports thcsd ba'lt
'nlts. Md shon so pay Tho banks for nslng that
credit.
DaEctot, Tho tiRhe.t authority III Ens9Ans1.
eayy tho public taken Bank u England bills
without tuf,niry or leBiksion, because II kNoas
Tint In my emergency Tho uovornn,cns will ris-
tain tho bank. Hero our billa naas bocsune tho
Government js tlistncsly plodKed to do 60. Tho
two great comnlcrcInl cantroA have dr,ftcd Into
d currency baAcd. IN fact on fioynrnlnent urodlt
and they deliberately accept tno situation.
q, fat question 1on SL1t M sha] our eufrenee
| oa1 nations 1t rests. and must rest, OF, Uovotn-
ment credit.
sccond-Ifow much currency Aall Wa hsyo7
citlo or ever did doc,de this question. Currency
made up of bank bills. deposlEs. notes. bills Of
exchange, otc 10 like any other article Of mann,
facture--wo mako ne nnct' Of 1t III wo nced.
with. always soilos tho amount Of its ourrol,cy.
Tualuess craNtca. oyeryMnolu md at all times,
Just such and jrat no much currency aa It needs.
l,ahks antt Secretaries Of Tosslries Imagine they
might Old }robabiit. ciaim Tint DO determined
what miahtisr forcos do. Hats. ahoos,
wagons, rails. clotha. cotton. wheat-ono
who dccldoa Tho dealers in tho article aud tho
uscrB OF 1t. Does anybody hdyiso EonR
Gack 10 otho1 dnys md having nomo board Of
wisoacrcs decide hnw much wllnat shall bo plant
! txar~ -
Wagons tnndc No sucI, dreamer obtrulca him
eolt on tho public. But thousands c)a,nor for
| allowing bhnk Directors, and them nlono. 10 not
tlo the amount Of tho c,irfoncy. And thoy arc
allowed moro control than any otttor agency
Tho New York City lanky alono increased tho
currency s3.1u0 d}o (*2.o57,2 ,2p01 in one month.
September, 1871, ard decrease1 1t $1,000 DdO In
enc week Of March. tS75 This ar,st3cracy IN
nlish to onr inhtitnttuns and harmful to our proa
rerity. What should ne eav IL 5nD nun and Buch
| friends ~ they chose wero allowed to plant
wheat and nino iron, while every ono elso Was
Upt this il bat another nau1o for ous pseaont
bank srstem. Let us ceaac, thou. 10 hhso any
ran either to enlarge or contract tho currency.
! Let Tho Government stand readt 10 isallo MI tue
good security fur at low iutoroat and convertible
| into long bonds. Ii uecoaanry, in order to con
ciiato existing prejudice, lot tho capital OF shoso
boIids hnying iong terms to run, to payable In
| gold. Make Ereonbacks lcgnI-tender for all pur-
i posnR. customs anil MI Government dueB In.
eiudcA. There IN overy reaBon Why thls should
be iouo History is repeating itsoIf. England
knew ,s,d mo,r yeais tnn T"
gold. nor wished to hare 1t, nor Promised
| 10 pay geld to any orc whatever. All
tt,at whilo sho extended and contracted
lor currency % without any regard vhatoset love!
were all paper. and oulv papar. resting on credit
and noslng elsc. Ne had similar prosperity