The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1876-04-06
JUDGE FOLLEI"S POLITICAL
VIEWS.

| Inc tOllOWlng communication IRON
Newark to the Cincinnati Enquirer, un
derstood to be from the pen of Hon
CHARLES FoILETT, will be read with in
terest by his numerous political friends
over the state,
NEWARK, o., March s, 1876.
AS your paper seems to be the most
generally recognized advocate of "honest
money-"that is, the peoples money, the
geenbdck-will you allow one Of its read.
ers-an anti-monopoly, "hard money!
life long Jacksonian Democratic make
a few suggestions that may tend to bet
ter understanding as to the true meaning
of the terms so often used in discussing
the financial question?
What is "honest money?' Isagreen.
back issued by the General Government,
receivable at par for its bonds, payable at
specific time in coin, with interest, as
may be provided by law, and legal ten
der for all debts not otherwise provided
by the contract? / think every honest
man will admit that such an issue by the
Government would be "h0neSt money!
just as good in one State or Territory as
another; and, to he extent ofsuch issue
and circulation, it is a funding of the Ma
tional debt at home, without interest; and
whatever profit there is in furnishing for
ty millions of active Americans with their
currency, money, or whatever else it may
be called, the people all share in it, in the
same proportion they pay taxis orrevenue
to the Government. Who say that isn't
honest and fair and Democratic?
How is it with National Bank curren-
cy, is that "hOne8t money!" Suppose we
admit that under the Resumption Act
they will be required to redeem in coin
their notes on presentation at their coun.
ters. This, as "honest old William Allen
said, is only "barren ideality." Every
body knows they can not redeem five or
three dollars Of paper at par with one in
coin, and the only way their bills can be
kept ahoat, or the banks from suspension
is by system ofexchange of currency be-
tween distant banks, The most distant pos
sible, for the circulation of their notes,
and none but brokers would be able to
collect and present them for redemption.
This would give the bankers and brokers
the entire monopoly ofboth the currency
and coin. For the currency being only
the credit of the bank and debt of its
the business of the country
must pay large and usurious interest to
few bankers, who get rich, while their
customers get poor and become bankrupts;
and there being no legal tender, but coin,
or "hard money" the debtor must 90 to
the brokers andbuy it at such premium
as they see fit to charge, so that under the
barren ideality'' of specie basis for
bank of issue the business and labor of
the country are ground to powder bet
ween the upper and neither millstones of
the bankers and brokers. Bank paper,
therefore, is not "honest money"
presume no one is foolish enough to
suppose that's country whose Governm-
ent is over two billions in debt with
large municipal, corporate and individual
Indebtedness besides, can do It's bust
nes, pay its taxes and debts as they fall
due with gold and silver only as circu-
lating medium. Therefore, we have to
choose between the honest greenback or
legal tender issued by the Government,
and the dishonest "ideal' money issued
by the National banks, and there is and
can be no such issue among Democrats
Or Republicans as hdrd8 and S0tS. The
issue is precisely what it was between
President Jackson and the old United
States Banks and as Benton advocated a
Sub Treasury law to require the General
Government to keep and pay out its own
coin and revenue, so let the people now
'ay to the Government all the specie it
las or can get without increasing our
lebt, pay out and disburse directly to its
,reditors all sums under five or ten dol |
ars, and issue no paper of a less demo-
This would be reality, and not
deality
But, say Morton and Blaine (the eye
ess, grinning skulls of the civil war; |
md other Republicans who feed on mali |
.e and hate, the Democrats are not be |
rusted on the greenbaCk question, be-
ause, forsooth, when they were first
ssued and made legal tender for gold |
ontracts then existing, they said that
vas unconstitutional, being violation
# existing contracts. Well, who says
low the Democrats were not right as to
hat2 Do the bondholders say that?
f so, then we can say, Il thank the Jew
or teaching me that word" Do tie
oldiers say it, whose pittance of $13 per
Month in gold was paid him in legal-ten-
ers, worth less than fifty cents in
old?
Again, the Democrats said if the war
ebt is to be created on greenback basis,
ought to be paid on ike basis; and
D said Thad, Stevens, John Sherman,
lorton and others, and the 500 borRls
'ere made payable accordingly in legal
snder notes, and so they remained until
fter Grant was made President and
gned that most infamous otall acts that
ould be devised to plumber and oppress
patriotic and honest people.
In view of the importance of the Ma
onal Convention and its platform upon
le vital and living issues that must en-
n into the Presidential campaign, I
ould suggest that in every county of
lis and other States in which a Conven-
on may be held to appoint delegates to
District or State Convention, to appoint
slegates to a National Convention that
vote be taken instructing thei- delega
S in the National Convention to vote
p and usa all honorable means IN have s