, 1875-10-23

tinnsIs1ts,1 '"epeo ol tao entire ayttam OF Na-
l respectfully submit this plan for a po,rns-
ncnt currency TO ~. H. H." aud llis bank friends
Senefa!'f. General . Y tho greenbackA arc to be retired
forever 10 allow the National banks Ia anresd
themselves / admit Ills rlat viii ansvar t;os
pu14'oso just aa we'll aa any prppoaad
ENC:
SHORT ARGUMENT.
10 'ht Editor ef The (hna1r Tribune
CHICAGO. Oct. 2l.-Put II greenbnck before
Fou' nut lot 1t represent tho proportion of tho
entire issues Of tho country. 1t ID worth sf;,
cenfs' Cut it IN tvo, AMI each hslf will be wort,.
l8 cents, for you can rssto tho halves together
aud then they will again bc worth SO cent?. !,
So", II you do tho namo thing with all the
Hreenbacks in tho nation. you would got rela-,
'iecly, but precisely, the samo results. Now, iu-t
stoaa or cutting the gEoenbacks in Two, suppose
you lssuo exactly twice az many moro. lou pub
your new bill alongside OF the old one, and thoy
together are worth precisely ~ much AZ tho two
halses in the case frat stated, viz: BG cents.
Ihat is. tho currency Will then be worth IS ceut,
Oh tue dollar, Instead OF &c. Is there an inas-
tlonisi-tllltionist ia better-ao dnll that ho cap
hot appreciate tho truth and tho force Of thiss,
argument? It Is unanswerahlo.
Eut, lo retotts, no will mako the new tssues a<
that III p!ainls unconstitutional. Even in amx
ot "as, tho right u make paper tssuos q leuaI-
tender IL Of doubtful authority, L Has s1n-
ss'nea ~ the supreme Court only by majority
o. one,-sr, Justice Bradley, a now uainbar.
Dut it Ia Often said, without irreveronce. thar.
I1ere II1ere hre aomo things which avon Almighty
lo"as chnnot do: aud thero arc many thinra:
.t9sg .hes congress cannot DO even thongh its oon-
thing IL once bought, or days work ia dona.
the greenbAck payB for il. But how Is It Will
III ueF contsactsf Escry hour in tho day thas
actual M co.n.va!ue Of tue g1eenbsck is takcn into
raHk :
made Congress ha4 no power to mako man
sell ANYTHING he has to dispose ot or to make
nm fosstso anything CLIO but coin for it, L 10:
chooses 70 eeil an1 70 denana it, II u ,ooo will
buy na many buhhes OF wheat to-day, and e1ecn-
baeks arc quoted at II DISCOUNT, $3.50 ID coirr
will DO tho same thing. II q days wuges ,at
worth g. s172 Ia coin ia ai! tho laboror rea1iy}
sarios for his family ~ tae 81 arocpbsck r,jd sGd
Nay more. Tho iatorer il constantly cheated by
the fnctuatiops In tho market prica of
t"I ss1Fy'e'rg; en1gsncv eausSd Td, By . asprocia
the indebtedness (bonds) In tic hands Of tho
rich arc worth from to ceuts aboyo par il
con while tho indebtodness in tho hands OF
Tie people (greonbaeks) is worth IA cents balow
dollar is worth only u cents the bondholdera.
::1. .0l to s1.0s. To continue this gross imposi.
ton upon Ae people, tho dilusionists are at
work With all their might. Let tho voters onco
understand y the true isaues, aud they will 20 for
tlght forever. r.
6REENHAcks REpEEMABLE IN BONDS,
70 tbs Eaftor a Tia Chttd1o Tribune
CHICAGO. Oct. 2l.-After roadiag your paper 4os
f'otao time lave become opposed to The pres.
ont system OF papor-monoy bocausc, Principal
y, It 10 doubtful wAethor Congraas hAs povnr
to print money" aud make it legsl-tander.
bccau1a the Government promises 10 pay. and
does not; and because, Il Congress- has povat
10 print money, businessman can mover tell xhsa
they can dopoud upon. and thero will DO IN IN.
certainty that will preclude ANY substantial, Der.
'nauont prosperity. At tito same time, NO osnA
not but think that We must have sone kind Of
Ia.pe1-money .s- aud any system that has gold as
D oaes Will be much like the old wildcat systan.
Ut banks. Now, cannot tue Government in
augufato systcu much Ike OUT Nationa-Bank.
ng system. but with tho exception that tue notAs
thAii DO paid on presentation In the bonds on De-
rosit, and possibly that bond shalt b. issued
or tLis special purpose, and shall boar q low
'ato OK interest. Such notes would hAyo uni-
orr, and alnost fixed value; woald ba founded
IN Tho crod,t Of tho Government; uonid bo paIdJ
3 hgTeed upon; MID the amount In circujatinn.
soutd be regulated by tho demands Of trade.
8CaooLboY,
Tho p'an suggested, Of having tho greepbackx
cdeemable in bond.woald not give tho currep~
. par-yalue, ualsss tho bond into which thew
sera convertible WA payable, principal and iu-f
erost, in gold aud Al = rato Of interest which!
Fould carry tho bond to par. In that csso tho
otos would seek the bonds. Il the issue Of cur
eucy wAs unlimited, tl,s bonda would increasa
D proportion, and tho interest," bearing dabt
'oaid grow with each iasuo OF paper. II the
ols!erB Of tho prosont greenbacks wore of1efed
4-per-ccnt bond, interest aud:lrlncIpal payable
gold, tho Yreonbacks would advance 10 par, or
, nsar it tlias spooie-psymcnts would bo prsc-
cGlly essablisAod.-Ep. TR1nuSE.1
GOLD AND cAsH.ooLo,u
} TIC Eitor of xhs Chicago 1r.buns.
CHICAGO, Oct. 9l.-In recent communication
you on tho stock Of gold needed, you eyi-
ntly have not fully understood The discrimlus-
"a intended to mako bstuoon gold and
cash-gold." What is termed 'scssb," in
osk1ng Of any commodity ~ wheat, coru.,
tson. Or gold. in tho psrlanco of tho exchange
cans Immediate delivery aud payment thereof
ow much VIC 500 quoted the rste paid for the
an Of gold per day, eYen At ezosbtAat ratoAr
'oause the ''bul1s have tlo control OF Ill the
atlab!o gold IN tho nlarko: gsven a times
1en foreign exchange ia low enough 10 import
import gold. tho inlpofteEB, TOT Tic
'Ah-sold required to pay oustoms-du-.
d. must be bled to about whxtayer Tia
doniand. To remedy tAIa, pro-
}sn 10 give them tlirtY days tmo on sufatient
curity to protect tAs Government zboooyer
lc4 state Of aifam oxista, Tho gold nav be
c#ont IN tho country. but 1t iH often "lpckod
." and held for exorhitant pricos, and henca
y avaiablo to those who must hayo It At onae.