The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-09-30

| expensive expetimento of contrasting lonr
millions u month should be again tried,
how is II tl be done7 Only by increas'
ing our taxes 10 the amount ~ he cons
trscted. The Secretary Qf the Treasury
hasnow % pay on "a average VIZ ,0OO, wv
q month this Ia inainl y ollected by tax
es direct nd indirect IL he is 70 con-
tract $4,000, ,000 month. which means to
| desffoy that arnohnt of the FeCeipts,
| there must be "a 100000 moro eachmonth
collected. II he has 26 to pay, and must
destroy 4, he must collect 20; therefore
contraction Ia increased taxation. as.
sumo that if Secretary Bristow is ordered
to contract 81 ,OO0,0 900 a month he will do
80; that ", absolutely burn that amount
Of greenbacks every thirty days, and not
do ~ McCulloch confesses be did, report
| $4.O0O,0O0 ofpash on hand, when 1t was
BSt Il lst % me warn you that the real con
spirators do not contemplate what they
call resumption by either ofthe ways
named. They mean to accomplish the
same thing, so far as they are concerned
by a shorter and lesB difficult mode. -
An act Of Congress may repeal the law
that makes the greenback to-daya legal
tender. Look atthe result Of such o rer
peal, The National Banks bold to-day
ofthe peoples promises to pay at Bone
day over nine hundred millions Of
dollars. Suppose,before thatday arrives
the legal tenner sct 10 repealed, The
,nly dollar left will be the gold dollar,
and this debt to the banks will be due in
gold dollars only, or fromtwelve TO twen.
ty per cent, more than to-day. Bee what
a bonus to beat Allen. Besides, the in
terest on every mortgage in the country
will be due in gold, and II payment is re-
fused the principal will be demanded.
Then we owe in Europe--not counting
United States bonds--in State, city and
railroad bonds, made payable in green
back dollars, principal and interest, over.
81, ,O00, 100000. This, too, would be due
in gold dollars. BY single act Of Con-
gress we should increase the principal OF
our debt to Europe over $500, 600 600.
Do you not see In this the animus Of the
McCuIloch letter In the New York Trib-
uneP If you wish to arrest this, you
must mot only elect 10 Congress reliable
men, but you must watch sharply those
YOU have sent there. Did not Congress
at the behest of the money power, and
before the people knew it, take way from
the greenback the right to convert it in
to $40 bonds at par breaking solemn
contract made with the people to whom
they had been paid. Has not Congress
passed law making bondssold for green
backs and payable in greenbacks payable
in gold2 Thus increasing the debt, the
premium in gold, and breaking another
contract to the injury of the taxpayer.
Did not Congress in January last author.
| ize the Secretary ofthe Treasury to sell
bonds with which to buy silver to re-
place the fractional notes, with the fact
right before them that as fast as the notes
were absorbed by the Secretary, the bro
kers would absorb the silver, and the
people would be withouteither. And in
the "Little Tariff BilP' allow the Nation.
al Banks TO supply the fractional curren-
Cy, and impose fine of ten per cent. on
any other corporation, or any individual
that should issue fractional currency2
Will they hesitate in repeating the
Legal Tender law If sufficient infu-
enCe ls used when 1t will do the most
good2
Stand strong for the greenbacks, or
United States money. Though derided
by those who hold gold. bearing United
States bonds, greenbacks have the same
security for back Ofeach stand all the
wealth all the credit, all the earnings of
the nation. No money everhld better,
broader, stronger basis; acceptable to
all; uniform in value in all parts of the
land.
The greenback is the standard or meas
ure Of value to-day. Ask the price Of
things for sale and the answer Is given
in greenbacks, and no other Is expected.
Gold is not thought Of. The greenback
is our only money for while National
Bank notesare currency, they are not
legal tender, except in transactions Of
salaries and taxes between the Govern.
ment and people; and while gold is 8 le
gal-tender it is not current; greenbacks
are both. The logic Of eYents-the pub
lie opinion that precedes law-has taken
away the money element of gold and
consigned it to stand with ourother COM
modities. The rise or fall Of gold has
ceased to make the price of everything |
throughout the land vibrate with its mer-
curial nature. Since June, within a peri.
cd of less than two weeks, gold rose and |
fell from six to eight per cent, but its |
power OH the price of homegrown and |
home used commodities was gone. It's |
rise or fall does not affect the price of
potatoes as much as the potato bug. |
Supply and demand makes prices. We
need take but one more step, and make |
gold by law what it is in fact or, If we |
wish to retain gold as money until our |
gold obligations are paid, and at the same
time make the greenback and gold coin |
par with each other, make the green
back iull legal-tender for all debts, ex-
cept where the contract is for gold, and |
the difference between them will disap-
pear sooner than by any other possible
process.
This is demonstrated by the fact that !
the first and second series of greenbacks
we're made legal-tender for all debts, !
duties on imported goods included, and |
they were always at par, and are to-day, |
with gold. If this should meet the eye
of any of my Abolition associates-those
who met with me do not owe any graft !
tude to the Democratic party, but who
are willing to forget all we are allowed to
i hope they will see with me that |
new element controlled the movement
at Columbus an element that resists the
ofthe greenbacks because
their issue was war measure" as much |
as the whole country would the repeal of
the Emancipation Act, because that was
q war measure.
One that sees that, in times called
peace, that the sufferings ofa community
may be as great as in war, and may de- |
mand as urgent and as prompt means of
redress as any war measure; an element
that is laboring to destroy a power that |
to-day holds the results of our industries |
as fast as ever the stakeholder held the |
slave, simply by keeping at a usurious |
price interest on money. For lift is true