, 1876-02-15
LETTERS FROM THE PEOPLE.


To tht Editor Of Tia Chicago Tribune:
ELK GRovE, ILL.,, Fso. Il, l87G.-h your iHsue
OF Saturday, tho It'll tnst., there appeared a
communication from G. ?. buckingham, on the
"Curtency or Logaf-Tondct Clauae," In which
ho makes thl6 statement in refaronce to tho e1-
ohanGa Of the 8.65 tLIrty-5o.r bonds for Rfoen-
bucks: "Now, why should We encounter ali
thoso OWLS. dsrauging all busuoas, producing
confusion and distreBs among amall deAlcta, and
providing rich harvest for Keen capitalists,
When there is Direct easy. and hopotable way p
DC. "lhAt Kay is simply for the Goy-
ernmont to rodoem iss promises," :. . ut
tho ereonbscks arc paid in Rold. that gold wilt DO
ueol in their place." Now, to mo that appears
; a. nones nd soa logical % IL }ous
Of gold to roleom sals papsra" Now
have you not answered. thst 1ueatlon when you
asaert Ia another editorial note, "Secretar} Br's-
tow says le can sell ~ par for gold thtsty-year
~ pei cent boud"s il that Ia so, does it not
lFor this reastu. As fast as he solls ~ per
cent thirty:yesr E''!-noua he WI eai in nnd re-
kct is not disturbed. Ths bulk Of the go
boads arc he.d In Europe, aud it Is thefo,
through the influence Of tho leothechilds, that
the Sncsetar1 hopes to DO able to exchange ~
per cont long honds 1oE say 6 per cent short
ones. II no wero to undertake 10 sell thoso ~
per cont bonds for tho purpose OF scooping up
gold in Germany and England and shipping TO
Wsshineton thclo to DO honsued Until lie had
accumulated s42J.0o 900. ho could hell not one
Of thoua with any such purpose IN view. Their
| urics would decline far butnw par at unce. Tho
gold cannot then bo ohtaiaod In that way, aud
the bottom fa.]a Out Ut that plan.-Eb.1
You may say, to throw 90 large an amount up
On lilo .nsrkoi 1T one tino would make Il i'm
possible for tham to bo negotiated. Woli, II
you pioase. Hal! $50 .00o q rear, 1t would
then tako but about eight yearH to redeem all tho
g.esnbscks, aud that il not long time. if by 30
upjng wa can restore confidence to tho business
public IN tho purposo Of the Government to
meet it's obligations and my opinion is that tho
gseenbscks would be very ncar gold tong bofozo
tLe time bad expfed; Or suppose you exchange
Tho ~ per cent Bond for Greenbacts, at the op-
tIon Of tho holdar, at the Same time removing
tho legal-tender character Tor al future con-
tracts. 1t appears to pe a. though that would
bo the honest Thing for tho Government to do !;
exchange aomesh.ng ~ ue.r its eQava!snt as
poasibtc, and thGreby p,ogent tho "keeu capital
tst" from "prcying upon the common people, "
rs Mr. q. puts, = | admit that an
Ouagin9 from the sttto of ny own aaancesj,
hut 1t Goes lOo!k from my Btaudpout "a though
tho 3.65 bonds suancked U little Too much at tbo
tradttoL asy 'atump TAIL" from your Ayuring,
Tor N honest tovcrnment to pay their obligs-
sions in them.
tTHE TulnuNK Ia not Wodded 10 any particular
fgbsrtry ratio al interest. Il is tn favor Ut auc
rate as will make tho funding bond equal III val
uo to tho uoaoy in which existing debts have
basn cousractad IL that not fair to tho Grad
itor class7 Mo1c than that would not be fair
to tina debtor claas.-Ep.l
And since unco han has bsen doing such
good, and let us trust lasting sssvics in teach
tuters and dealsrs In whisky. Lesson In lo1eaty,
I, as onn OF hls couaMoa cit!xsua and belisEor
IN tho Eishtt Of tue common herd. would much