Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1877-09-25
From the York County Independent
The Green6dcE Party.


For some two years past in our State
the greenback policy has been agitated to
quite an extent until to-day it has quite
a number of followers polling at the last
election something like 1000 votes for
Munson against about 700 for Gage in
1876.
Now | have been = constant reader OF
Chase's Chronicle, Names Greenback
Organ for about year, and have read
the discussions between ii and hard mon
ey papers and have never as yet been con
vlnced that there is any need Of Il green
back party, or that It's success would
prove beneficial to the times. That bust
ness is dull and has been for several years
is an undeniable fact but such is 4 nat
ural result following war and especially
so Of u war Of such gigantic magnitude
as the late rebellion. Any person would
be denominated insane who would expect
good times for any considerable period
following 4 disastrous war. There are
several causes why We must expect and
realize 4 reaction, among them We might
mention extravaganza, an extensive credit
system, which can never be met and paid
The withdrawal Of government employ,
and the decreased demands for goods all
tend to cause 4 reaction, and depreSs bus
mess. 1t appears to me that these are
natural results which no legislation eau
arrest or remove. There are difficulties
which cannot be reached, by law, which
legislation cannot prevent or remove
Such | believe is the injurious consequent
ces that follow war. But the advocates
of the greenback policy contend that an
unlimited amount of irredeemable green.
backs issued direct to the people will set
tie the present state of affairs; while
they have endeavored to explain, the ma.
jority Of people heve failed to understand
how such an uncertain and dangerous
departure can insure prosperous times to
this country.
The principal charge made by the
greenback advocates is that the so called
Resumption Act is the sole cause of the
hard times together with its operations.
Now for moment let us consider how
far forth that is true. The Resumption
act was passed in 1875 to take effect Jan.
lst, 1879, but the hard times struck this
country in 1873. Every result follows
cause but according to this doctrine the
result precedes the cause Thus this
argument proves inconsistent. They tell
US another difficulty is a lack of currency.
Is such the fact ? let us review history
briefly. In the flush times Of 1864, the
circulating medium of this country was
but about 1904 100000 while in 1873
when the panic came upon us the circula-
lating medium of this country reached
over S740,000,000, the largest amount
ever in circulation. Some $3.50, 100000
more than in the flush times Of 1864.
This hardly appears as though the cause
was lack Of currency, but rather We
should infer the trouble to be too much
currency. Thus the two main arguments
Of the greenback policy falls to the
ground. There are other causes which
created the party. Their opposition to
National Banks and the funding Of the
National debt, and their distaste for Bond
holders, attributed to their disgust for the
old parties and their love for the new.
But in brief newspaper article we have
not space to review the whole matter, and
it might be useless as many are knowing
to the principles of their policy, and it
would be uncalled for, but We deemed it