The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1877-10-12

| the National Bank circulation sbo,.t1
| crease. legal tenders shall be witbl,r
| from circulation at the rate OF eiob,. .r
| cent of such increase, until the
amount of greenbacks shall he S2.,,'ca-
! OnD and no more. The design "a
| dent so far, was to surrencer the a,se
/ control of the currency 10 a limited lies
| of Incorporated capitalists. with p,y--.ro
| create and destroy values at will "A
/ thus plumber the people TO their baa.s
content: but fortunately, this most d,,
gerous and ini4uitious provision has IA
rendered nugatory for the presen, It
/ least by the immediate effects or n I'D
( segment clause in the same enactm.t
which provides that and after the u
| dav of January 1879 the Secretary of ne
/ Treasury shall redeem the then outstam
/ ing legal tender notes in coin; aud In o.
able him to do 50. authorizes him 10 al
| the bonds of the government bearie
/ four, four aud half and five per cen.
/ interest at par for coin. The banks al
/ money changers with their usual sage
/ ~. foreseeing the inevitable conseol-,
/ ces Of this provision have not only a.
! clined 10 avail themselves Of the add
/ tional privileges TO ANY great extent f.
{ the present, but are providing for th
coming storm by prudeutlyO in an
! some OF them actually surrendcriug the
circulation; 50 that by the lst of Janus
~ 1879. IL j. probable that there viii NJ
he over haif the amount OF that chHracts
Of currency in actual circulation We nos
have. Ia the meantime II - probl0t
that the Secretary of the Treasury VII
have accumulated 500 ,OOJ,oJJ in cod
from the sale of bonds and other sOurcs
available for the redemption OF the greet
backs, leaving over IA hundred and sixg
millions 10 be Transmitted into govera
meut bonds and sink Instantly iuLO Aie
vaults of the capitalist, to draw its ssnl
annual interests IN gold. And 50 bgihe
tine we shall have reached the supreme
moment of happiness TO he bJndhoiT-
the bright auspieious day when he shan
he relieved finally aul forever from al
apprehension that his untaxed bond wiz
eventually be paid in green backs aco3rd-
ing TO contra {, We will have c0ntr.sted
the circulation OF our currency at kAsi
$500 900, UUU, and aided that amount IN
gold bearing bonds TO the Golfers Of me
noble army OF money mong&-
The immediate consequences OF sua
condition of things / sIuddsr to conlsH
plate. When think OF its fearful Effects
upon all the fountain sources Of oar pms
Perjty, already so deeply impaired by cur
fatal financial policy; when think OF our
- 600 900, 900 federal debt Of our SOW
400. 900 State, municipal aud local taxa
ton of - 300 O0b.UOO AiIroad debt, win
stockholders ssclamoring for their div
bends. creditors for 5ueir interest ant
employers for their wages; when | think
OF the thousands Of milliOusi of private
Indebtedness hanging like huge and
hdeous incubus upon the energies Of our
people everywhere, aud of the fearful de
probation of all descriptions Of property
since that Indebtedness accrued, aud theu
think of the dark waters through which
We are compelled TO pas my heart slcSens
within me. The FIRST bright suu 1850
that shall dawn upon our land will Look
down upon the darkest page in all our
country annals. Tue sad picture of the
gloomy year of grace 1919. 80 graphically
drawn ny one of the most lllustrIous
statesmen of modern times will he more
than realized No standard of value,
no me,lium Of exchange remaiuing- No
price frr property, no market for produce,
no sales but by the Marshal and the Sher
if, no purchaser even NJ sales under the
sweeping desolatiou Of the .fert J.,rias ex-
cept the creditor or the money hotrier;
no employment for Industry, no iemaHt
for labor, Jta sound Of the hammer save
hat OF the auctioneer knocking down
thc properly of the ruined debtor. Moth
ing bat one wide scene OF financial DIS
tress. The vampires who have sucked
The last drop of blood from the body poll
tic -tiI rsveHing upon the emaciatei
might go farther than I have. I might
point out another cause. no less mischjev-
Du- than the one have been discussing
going hand in hand with IT iu the pro-
l.
y hich our country i afflicted 20 be fpuaj
II our Fraudulent and iu-idious system 81
aritf taxation, which while disturbing
he normal functions Of active, prJluc-
i've capital, and Smelling the horlcs OF
he millionaire from federal taxation,
vrin.s nearly half the enormous reve-
lu-s Of the government from the sinrws
# the iaborer, aud rob. his wages OF full
ifty per cent. of their purchasing power.
But nave done. He who cannot detect
II the fac which have referred, q suf-
icient cause for the present disturbed
,ud unhappy condition OF affairs in orr
would not believe though one
should rise from the dead
know thar the prophet OF evil Is al
ways the subject Of ridicule, and the
inject Of popular contempt, and / have
10 doubt that Lot was denounced as a In
IN ic not fifteen minutes before the show
r. of fire and birthstone desce led upon
'odom AMI Gomorrlh; nevertheless am
rot one Of those who profess TO sc, no
lauger 10 the perpetuity of our liberties
"A the amazing cuHceuf ration Of capital
) hich has taken place and is still going
N with Increasing rtpiIity under the
ystem If policy which has chara teriled
,ur government for the last fifteen years
md more On the contrary, 1 tell you
,lainl;, and in all the solemnity and
arnestness Of settled conviction, that it
he causes | have mentioned, are permit
ed to continue, they will as inevitably
cad to the overthrow Of our republican
institutions aud the destruction Of our
/ berties, as that night will follow yonder
ittiug sun. | DO not say il will take
lace Immediately, or within the next do
ade or quarter of century. A. | SAID
our years ago on a similar occasion, We
nay preserve the emp forms Of the re
ublic for half century or more, after
Is life has really gone out, and despoiIsm
IA its most dangerous and hateful form
lsy riot over the PROSTATE corpse of
reed0m while we are still proudly boast
ng that are our own masters. But Il
mere is any reliance to be placed ia the I
marrying testimony of hurn's0 history, 3
IL ihpOssibie for republican govern T
rent to survive the consolidation of IL .
iealth in the hands of few of its citi-
ems, while the great masses Of its people .
re mere "hewers of wool and drawers
f water Remember that money IL
over. Power? What can il not 10 IL
an raise and support armies build and
quip navies, subsidise your legislatures.
orrupt your Congress and buy your
residents. IL can 50 ctntrOl your gov
rnment in all its departmeuts-as II has
oue-as 10 fasten the Interests of par
icul classes aud sections At the eX-
ense of all the others, and this If con
inued will cad, as it has in all ages and .
oGntrieS tho world over, 10 domestic dis
outeut, internecine STR f.. and social
iar, aud to prevent this standing armies
lill be kept battering like wolves upon
lac body polite until it sinks down the
opeless, helpless enervated victim OF "a
emorseless despotisn.
The remedy for all this is not in labor
trikes, nor ia eight hour laws, nor in
labor cemmunions, nor in sfsa ling ar.
lies. nor in blind unreasonins optimism
= which imagines that the same henii
ent Providence who gave us our liberties
> the price of revolutionary blood will
reserve them for US whether We do any
hing to maintain them or not. Ii lies in
e moving the causes of our DANGER and
distress. l confess | have little hone of
Is being done, but n view of the alarm
ng circumstances by which we are sur.
ounded, it seems to me that common