The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-03-31
THE GREENBACK MOVEMENT

Proceedings Of the Meeting to Organ
ize Greenback Club.
We are furnished with the following re-
port Of the proceedings Of a moderately
attended meeting at the court house last
Saturday:
Meeting met pursuant to call and upon
| motion OF w. Il. Ross, j. v. Randolph
was chosen chairman of the meeting, and
F. L. Smith secretary, and upon the read
ing Of the call for the meeting the chair
man made brief statement of the neces-
sity of an organic alton whose object was
to use Its endeavOrs toward the regula-
tion OF the financial question. Whereupon
L. b. Kellogg spoke IN favor of the re-
sumption act, in which he was followed by
F. 4. Smith who spoke In opposition to
said act and in favor OF sufficiently infiat-
ing the volume of currency so as to give
an impetus to trade and restore confidence
IN the ability OF the government to re-
sumo specie payment when 1t could be
done without injury to the business ofthe
country. Mr.. Smith was followed by p
b. MaXson, who advocated the imitation OF
the currency and the resumption OF spe-
Gle payment, by the government borrow
ing sufficient amount OF gold to resume
with, whereupon he was followed by Chas
Butcher, who insisted On compliance with
the resumption act. He was followed
by John Z. Evans, who demonstrated
very clearly the ruinous effect that would
be entaiied on the people provided the re-
sumption act was not repealed. He was
followed by j. II. Graham, showing the
ImpOssibility Of the government resuming
specie payment ut the time specified in
the act, because our gold will have to
be sent abroad as fast as we can obtain
it, mainly TO pay interest on our enor-
nous Indebtedness TO European bondholG-
holders. He regarded the sacrifices
caused by the resumption act, as utterly
ineffective in Obt Aining or holding gold in
this country, and therefore of no use
whatever in aiding resumption, and held
that persistence in trying to enforce the
act would only complete the ruin GUS
work Of bankrupting the productive in
dustries OF the country, and therefor pre-
vent instead of secure q return to q spe-
Gle basis. So long as the government re-
fused to receive its o wn currency for Gus
tom duties, or for its gold bonds, that cur
rency could never be raised to q gold
standard. No one could or would accent
the currency the same as gold, while the
government that Issued it refused to
The plan of borrowing gold to resume
with would result in an utter failure to
maintain resumption, in an increase of in
debtedness, and further depreciation in
the value Of our currency. As believer
In specie payment, whenever practicable,
and as republican, he protested against
the insane policy of bankruptIng the peo-
pie in order to make their promises to pay
equal to gold. He was emphatically in
favor OF repeating the resumption act,
and the adoption of a new financial pol
icy which he fully believed would restore
business prosperity and keep green backs
nearly If net quite on par with gold. Mr..
Graham was followed by +. Z. Smith,
who insisted that the borrowing OF specie
was Impracticable as well as impolitic,
from the fact that the borrowing OF mon
ey to resume specie payment caused an
additional amount of interest without the
payment Of any portion Of the public
debt. Whereupon w. b. Ross moved
that the chair appoint a committee Of
three to draft resolutions and report at
the adjourned meeting in three weeks
from to-day. The Chairman appointed
w. B. Ross. Mr.. Way and +. F. Smith,
whereupon the meeting adjourned until
Saturday, the 10Th day of April, at ?
o'clock p. m +. Z. SMITH, See.