The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-11-09


SAY that paper currency by the govern
Inent always dcprcciates In time OF war
Where did the rcdeemabIc bank paper
lgo during the war In the confederat,
states! Dit II fare nny better than con
fedcrate scrip? Would You not have
lost every dollar H. the north had Il mo-
been for the issue Of grcenbacks Ly ths
government
! In every instance the contraction that
have referred to under specie basis led
to the greatest excitement, failure oil bust.
ness men everywhere, laborers thrown
1out OF employment, and the general
bankruptcy Of the debtor class, and sus.
pension Of specie payment on the part
Of the tanks. they refusing to pay their
notes for lack Of coin. The oppression
OF the country was such, and lie need OF
money to perform the exchanges 30 great
that the people countcnanced the banks
in their suspension and received their
notes In payment Of commodities, not
withstanding their declaration OF inabili-
lty to pay them. hope the good sense
lof the people will protect us against
such financial policy In the future. The
lgrecnbacks saved the country IN time Of
Iwar and also the banks. The next
Is, What will give fixed
values? What will give honest pay
|Inent TO the creditor and do justice 10
tho debtor? A financial policy that
gives . fixed amount of money In this
country will do both. The money will
|be Of the same value when Il is present
led In pay ment.as il was when the debt
was created. From what have said in
regard TO the workings Of specie basis
you see il is impossible 10 have q fixed
|amonnt Of currency under that policy.
Banks were generally authorized to issue
three dollars In paper for one In coin
Ito REDEEM Il with. When the balance
|of trade is In our favor there Is no de-
maud for ~oiu to send abroad.
The banker knows he can not redeem
three dollars with one: therefore he
must retire two dollars la order 10 save
Itis credit. Upon business principles
specie basis leads to expansion and con-
Traction thar can not be avoided, and
never was. How can you have fixed
amount Of money! How can We have
disability in trade, reguiarities in wages,
steady progress and prosperity? Only
lby having fixed quantity Of money in
circulation aud that can he given to
YOU only by the government. The
whole power in the money question il
with congress, and we want il 10 exer-
else that power by fixing . definite
amount, and keeping il in circulation.
You will never be prosperous unless
ron have something that the capital Of
tha country can bc invested in with GER
|tainty. l want 10 show you that if q
specie basis is desirable IL is impossible
under existing circumstances withont
leading 10 further bankruptcy and ruin.
England, with sUO.UOO,OO0 dollars In
coin. keeps afeat 30O,OOU oO0 dollars in
paper. France. with 100 100000 dol
lars Of coin, has in circulation 6OO, ,0Oo 600
dollars Of paper money. The paper
money in France Il equally legal tender
with coin. In this country before The
war VIE had 275.O)OoOO dollars in coin.
and 207.tco, 900 dollars IN paper money.
Now We have. according 10 estimate.
about 55o, ,oOU,oOo TO lI5,OO0. 600 dollars
OF coin.
II is now proposed to resume specic
payment in 1879. with 600, 100000 dol
lars ~ PAPER money in circulation. ans.
LIS, ,0O0,OUO dollars OF coin. Tie present
financial policy Of this country will
build up = great moneycd aristocracy.
In England, the Iaboring man could not
protect his rights by the ballot, rs Is
your privilege. Look AT your numbers.
You can carry any question whatever.
and dictate financial or any other poll
cy OF this government. IL is your duty
to investigate and see where ysur inter-
ests lie, and vote accordingly. You are
the majority in this country. and IL YOU
let the minority control. you have no
complaint to make against them.
] want 70 cay that specie basis IL never
going to be practical IN this country
until there Is great change in our con-
dition. The constitution says that con-
gress shall make money and regulate its
value. IL IL impossible for . dollar thai
Is not full legal tender, made 20 by ihr
laws Of congress. to have the value or o
dollar that ID full legal tender. Some
men say they want money for the
world, dollar that is = dollar everv-
where. There 10 no such coin. I'LL.
high prcrogative Of making money IA
claimed BY every government In tiieH
world, and oil governments rcgu
their own financial affairs, and ado,.. i
money that which they think best ac-
cords with their own interests. Somr
governments adopt gold, silver and pa
per, ss for instance, France, Russia and
The United States, but In this country
we bsve both silver aud paper. inferior
TO gold BY law, silver being legal ten
der for only i've dollars, and paper NOT
o. full legal tender ~ gold. Some
other countries adopt gold alone o.