The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1877-05-09

1875, for the redemption of the notes OF
the U. s. in coin is the plighted faith OF
the nation, and national honor, simple
honesty and Justice to the people whose
permanent welfare are dependant on true
money.
Ifthis administration carries out the
programme of Hayes, Wheeler Il Sher-
man we may expect prompt resumption
of specie payments, and the consequent
and inevitable ruin of the debtor portion of
the people, and the pecuniary embarrass-
ment of all the tax-paying portion The
Justice to the people, whose welfare" Mr..
Wheeler is so anxious about, are the peo-
pie who own the lands and the banks, and
not the people whose farms are mortgaged
and who pay the taxes. This, it seems to
me, the administration dare not attempt.
The utter ruin which must be the result
would be too appalling, even to these bold,
bad men-the subseryient tools of the
money power which elected them. The
repeal of the resumption law" enacted In
the interest of the bankers and bondholders
is demanded by the pecuniary interests of
the entire producing classes if they are to
be saved from utter ruin. The removal of
the troops from the south was an act OF
iastice But if the president will initiate
a movement to repeal the Resumption
law" he will do an act for the benefit of his
fellow citizens infinitely more meretorious
and as little to be expected) than his
removal of the federal troops. During a
| life OF nearly three score years and ten
have witnessed so many financial catastro.
phies that, in our present overwhelming
public and private indebtedness, it appals
me to contemplate the inevitable result
which must ensue if the present pre-
CRANE is carried out by this Republican
administration.
In conversation with Republican the
other day he asked me how l liked the
presidents policy of Withdrawing the
troops from the south. | replied that
in my view, it was the wisest and the most
patriotic course to pursue. if he wished to
restore peace, happiness and financial
prosperity to those distracted states; and
that if he would pursue the same wise and
patriotic policy on the currency question be
would receive the fervid and hearty con-
CALCULATIONS of the now oppressed produc
ing classes, who fear the distress, the mis-
cry aud the poverty which threatens tC
overwhelm them in the Immediate future
My friend asked: What would you have
the president door the currency question:
| replied: 'Disarm all these foreign, do
nestle aud mercenary troops, (who, in The
practical sense of the term, are legalized
organization to rob the producing classes,
by repeating the national bank laws. thu
resumption law" and the laws to pay the
, bondholders in gold; and then re-enact thu
laws to pay the bondholders, as first prom
! Used, in legal tender greenbacks. This i
justice to all.
) To perfect this financial system tn
greenbacks should be made legal tende
in the wayment of all debts, public an
private, and be receivable for all taxes AM
} duties. The preceding views of the cur
, rency question are given as the best posi-
, BILE SYSTEM that human ingenuity cal
invent, if We discard gold and silver coir
as the only currency to be used in making
exchanges. Truth is the object of all hon
est enquiry on this or any other moot point
To conclude, if these financial views ar
. wrong, | call on the friends of the na
; tional bank system, and those of the stat
: bank issues, based on coin, to prove thei
tallacy, and to show the superiority 0
5 their respective systems. GREENBACK.