The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1876-03-09
BRISTOL GREENBAuK CLUB.


This club held its regular monthly meet
ing on Thursday evening March I'd inst. at
the Town Hall. The President stated that
Srr. OrIedge was present, and he for one
would like to hear from him. There were
several calls for Mr.. Orledge who stepped
forward on the platform and proceeded to
address those present. He said he was glad
of the opportunity afforded him of address
ing the club. He found himself in the posi-
ton of TIE representative head of the green
back movem ent in the Stale of Wisconsin.
It was necessary that out of this club should
grow county organization. The movement
he was happy to inform them was growing
rapidly and W as bound to sweep the country
like wild-fire. It is very foolish in US to pay
the National banks six per cent. interest in
gold and then lend them money at one per
cent in currency. The National bank cur
rency ought to be and will be retired, there
is not the slightest doubt about that, as the
people had made up their minds to do 1t.
There should then he issued an equal amount
of greenbacks to circulate in their place.
He eulogized the past ACHIEVEMENTS of the
greenback and its present and future useful
ness. He wished them to understand that
be was no infationist and would not get
away from the gold value---did not believe
that value could be legislated into anything.
He would make the green5ack exchangeabie
! for gold bond. bearing low rate OF inter-
est in gold, and the bond exchangeable for
the greenbacks. Then make the greenback
payable for all government dues and there
would be no danger of it's being deprecated.
In fact the danger would be the other way,
the greenback would be more valuable than
gold and the interest on the interchangeable
bond would have to be reduced much lower
than was generally supposed to keep
He insisted that specie resumption was a
fraud, humbug. an impossibility. There
was no such thing in the world as bank
having sufficient gold to redeem all its notes
in coin and there never had been and new err
will be. In his opinion gold cannot be
correct standard of value and because it's
price is liable to extreme fluctuations. he
quoted authorities to show that in England
in similar crisis gold was enhanced in price
and that the government note was not de-
preciated. He deprecated the policy of con-
traction as it would be sure to bring disaster
and ruin. There is deficiency of currency
now to float the trade and commerce of the
country. There is not AS much currency
per capita in this country as in England,
whereas, there should be more There cannot
be such thing as imitation if tn greenback is
made interchangeable with the government
bond. He esteemed the question of interest
to be one of great Importance The govern
ment should not pay larger interest than
the earnings CT labor. He stated that Mr..
Coolbaugh, a banker of Chicago, was of the
opinion that two per cent. bond on long
time would in five years absorb all prior
bonds. The speaker occupied about an
hour and half and then in answer to
question by Mr.. j. r Leonard occupied
about twenty or thirty minutes more in
answering and In simplifying what he had
previously said. He acknowledged he had
told them nothing new and was afraid he
had wearied their patience. Adjourned to
meet in one week at same place.
r. F ROBERTS.
Woodwork, March 8, 1876.