The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-07-21
FINANCIAL QUESTION.
ReSuEapti0n's Reply to MIR.
Graham.

ReSnEepttOn's Reply to MIR.
Graham.
EDIToRs News: Has my friend
done? "Has he completely done ?"
or is this only a lull before more
fearful storm ? 1t strikes me his sub
ject "got away with him. He evil
IDENTIFY became excited before he got
through, and it was the worst thing
that could have happened to him in
discussing the currency question.
Ny only excuse for continuing this
discussion is. that it is,.a live ques-
ton and of general Interest. I don't
wish to be understood as claiming
any of the authority of the doctors,
except so far as l may quote them,
for / am only iayman seeking for
light. propose to 'shold fast to that
which is true"
Mr.. Graham's method of reason
ing, in many cases, reminds me of
the way friend takes to confound
a certain minister in this city. He
8 ays: Cup to about the time you
three or four prominent ministers
came, we Lad a temperance town !;
since you came the saloons have
multiplied therefore the increase of
the saloons must be the result of
your coming" l presume Mr..
Graham would call that logical
reasoning; for it's the same kind of
argument he uses against the re-
sumption law, aud if he were not
done with this discussion I should
like to ask him if he does not hold
the resumption law responsible for
the recent great decline which has
taken place in silver, making our
standard silver dollar of less value
by s or 10 cents than the govern
ment paper promises to pay a dollar.
If Mr.. Graham means what he
says in his article of May 18th,
when he says SHE only intercon-
vertible bond plan in issue in this
discussion is to
make greenbacks and 3.65 yotd in :
teTest and principal bonds,
interconvertible with each other,'
he is not very far from the resump-
ton law /; which provides for the
redemption of the greenbacks by
authorizing the Secretary of the
Treasury toanse any surplus reYe-
nues not otherwise appropriated and
"to issue, sell and dispose of at not
less than par in coin, bonds of the
United States" &C.. describing the
bonds) for that purpose. If he
means what he says July 7th, when
he signs foE l"purely paper money
SYSTEM" he is like the girl whose
mother was trying to persuade her
to leave the ways of dissipation and
folly. o'Mother,"" she says, "you
used to do go" 9I know it," re.
plies the mother, sand I have seer
the folly of it." ''Y es, mother, but
want to see the folly of it, too" HI
and his infiationist friends, ignoring
past history, are trying to evOlv'
from their sinner consciousness
system of currency payable il
nothing, and in the end, (if thel
lpursue their scheme logically to TIT
end, } worth nothing, that they ma!
see the folly of it themselves. VIII!
, not take Patrick Henry's STANDARD
: and judge the future by the past
Ny friends talk about resolving
, gold into the country is an equal,
happy thobght with keeping green
backs for our Highlander, unit
gold en- ough comes in of its owl
accord to redeem all notes that ma,
| be issued. 1t is an old law of polit
e zeal economy, discovered hundred
3 of years ago, and proved over an,
over again to be true, that tn
t worse currency will always driv
out the better. It is simpl
: folly to suppose gold Wi
accumulate In large quantitie
while we have our present system
, of deprecated legal-teHder. Tax
some means of making the green
a back and the national bank not
worth theis face and all the gol
that is needed will come here Jus
> as naturally as it now goes to Eng
!, land. One of the great troubles o
I 8 return to specie payments is tina
y it will bring our property down t
!, the worlds standard of values
prick the bubble of fictitious price,
] and stop so much borrowing. On
farmer said to e4other few day
r since, "What If specie payment
!. should come around in 70? I migt
mortgage my farm now for 81 ,00(
q and by that time / couldn't get owe
= $500 for the FARM There is n
/ doubt but that q great deal of fi6
titious wealth would be wiped on
z of existence by the return TO speci
E payments, but of the nations Fes
It wealth not q dollar and then ho'
t much we should gain in morals. ]
is said that In old times, whe
!. skins and furs were q legal-tendeE
they being large and eumbrOus,
(. was the custom to cat out smal
: pieces and pass them IS represen
tatives of the skins fhemselve, an
, whenever any one zdesirel
!. he could have the who'll
I skin by producing the piece Whie
had been taken from II, aud ths