Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1877-11-01
THE GREENBACK PARTY.
Extraordinary Theoriesof Mr..
Allis, its Candidate for
Governor.
debt the Highest Form of
Value!"
Duty OF the Government 10 SmD-
ply Money im Abundance.
Mode OF Performing that Duty.

From the Speech Ex-senator Howe, at Madison.
Fellow citizens, if there is any
marvellous virtue in the so-called rag
baby, | ought to be willing to recog-
nize it. and would seem to have some
right 10 boast OF it. | hel ped to
bring the child into existence.
laughter l was then member
OF the Finance Committee of the
Senate. Ny support OF the treasury
note bill was early, earnest, and un-
faltering. | resisted tho reasoning
and authority OF the chaIcman of the
committee, and | am glad to know
that speech | mado in support of
that bill on the 18th of February,
1862, holds s. somewhat conspicuous
position in The Financial History of
the War"
l ADVOCATED THE ISSUE
of irredeemable legal tender notes
because L thought in the terrible
emergency which then confronted
Us, it was the best circulation we
could command. In looking back
upon that time now, with all the
light fifteen years has she'd upon it,
remain still of the OF inion that no
better currency was then within our
reach. | believed and | said that
without such currency,tho country
would perish | believed and | said
that with such currency, the coun-
Fri h |
if the country did triumph, both ma
tional integrity and national graft.
tude would insure the pay ment Of
the notes Recently [ have read
with much care speech delivered
by Mr.. Allis, the candidate Of the
party L am considering for Tho office
Of Governor of the State. [ intend
no disrespect to the author when l
say the speech surprised and even
shocked me it is enough to shock
one to find that man of ripe years
aud ripe culture is lahoring under SO
many delusious as he il, if he is
or so many as l am and mil
lions beside me are, if he is right.
Let me present to you some of the
more salient points of
MR.. ALLIs' NEW EXPOSITION OF STATE
CRAFT:
First. We are instructed that Mr..
Keyes and Mr.. Hinsey are the War
wicks of our politics, whose divided
mantle" he or his colleagues have
stripped off and placed on the shout
ders of the people.
Second. That the civilized world
is suffering because of It's ignorance
of the true relations of debt TO pro-
gress and civilization.
Third. That it is the mission Of
America to work out that problem.
Fourth. That money is not wealth
but "The tool by which wealth is &C
CURED to the nation"
Fifth. "That gold once answered
the purpose of money"
Sixth. "That the wants of BUSH
ness have outgrown the capacity Of
gold"
Seventh. "That mankind have
seen that fact, but have not bodily
met it, but have permitted the vol
ume of money TO be fctitiously in.
creased"
Eighth. "That specie paying banks
are ono of the fictitious means OF in-
creasing the volume Of money"
Ninth. "That gold and silver coin
or paper convertible into euch coin
is a mere pretense"
Tenth. "That debt is the only re-
atty left to US, that the Plankiuton
House, tie railroads, the coin 10 the
bank vaults, are SO many different
forms of debt"
Eleventh. "That the highest form
of physical debt, and consequently of
value, is that of nation to Its own
people,"
Twelfth. "That it is the business
of the Government to see to it that
we have money in abundance, poor
money even, if we cannot get good
money"
Thirteenth. "That the national
debt supplies abundant material for
money"
Fourteenth. "That until the ma
tIooal debt is made money and con-
vertable at will into greeDbaoks or
bonds. we shall have no true pros
perity."
Now | 10 not object to these theo.
ries merely because they arc new |
have myself great respect for origin
ality and by no means insist that be-
cause the world always has travelled
one road to churchill shall never take
another path;but | submit that when
a statesman comes forward to adver-
tisa that the whole world has travel
led in ignorance until now, and that
too upon a subject as old and as
much debated and experimental up
on as currency has been, and that
even now the light has dawned only
upon few, he ought to come cloth
ed, if not with demonstration, at least
with something more conclusive
than statement. | don't ask that
you close your ears against any new
gospel, even if it is like that of Mr..
Allis, everywhere spoken against,
but l protest you must not dismiss
your understanding in order to en-
brace gospel simply becauee il is
new. 1t is quite true the business
world has experienced many embar>
easements either because of or in
spite of the old financial system, but it
has known many triumphs also, and
has achieved, think all will admit,
some progress. More than one Gov
ernment has tried TO stimulate flag
cling Industry by tho use of depre-
ciated currency. The experiment
has never failed to result in
WIDE SPREAD SUFFERING.
Ho who now urges you TO try the
same experiment again, should give
good reasons for the IaIih that is 10
hsn.