The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1877-06-01
Friday. June !. 1877.
Give the areenbaok a Pair Trial.

The rank ana ME OF the DeWOcIdtlo
party and most of its leaders were once
the opponents of banks OF circulation.
They were hard moneyites and 10 favor oil
treasury notes to meet any deficit IN COLD,
as recommended by Jefferson.
At the convention in Ohio, 10 1850, the
Democratic party, headed by the war
horse of Democracy" (Col Medary, aimed
to prohibit by the constitution the charter
of state banks of circulation; but the
paper money Democrats in the convention,
the subservient allies of the capitalists.
united with Wing members and defeated
this wise prohibition to defend the pecu-
mary interests of the producing classes.
Let me ask my fellow producers Of wealth
if we have not direct pecuniary interest
at war with the legalised plundering sys
tenn OF the money power in all its varied
and crafty forms of combination? The
tens of thousands Of the Patrons OF Hus-
bandry" through the union, who have, at
last, periodically combined to defend their
dearest rights against the wrongs of cap
ital answer this vital question in the
affirmative; and yet these toiling and
wronged Patrons of Husbandry repudiate
the discussion of all political questions IN
their respective oranges. 10 me this
seems TO be mistaken view OF these nu
merous and otherwise intelligent defenders
of those who produce all the wealth OF the
world and are yet not as well ted and
cared for as the domestic animals oil the
wealthy. The very acts OF which these
patrons" complain, as system OF PUN
der. are the work of corrupt and paid pol
iticians, who do the bidding, in congress
and our state legislatures, OF the numer-
Gus combinations of the capitalists, at the
head of which figures the Hebrew money
king" whose fifty heads and hundred
hands" like those OF Briareus, are sedu.
lousy employed to control the entire
wealth of the world, and thus to govern 1t
10 the interest of capital.
In 1876 some of the greenback men ad-
vocated the 'interconvertable bond and
greenback system as the true policy OF
the Independent party. This, in my view,
was mistaken and inconsiderate move
ment. And for this fact, namely, that
this ''intercoDvertable' system Of finance
presupposes the necessity of natiOna
debt as the basis" of the greenback lega
tender notes. This basis" of pubic
Indebtedness would be more Objectionable
than the "coin basis" of the wild cat
banks of circulation, unless we are ready
to endorse the doctrine of Gen. Hamilton
and the Old Federal party of the seven,
teenth century, that "a public debts pub,
lie blessing Gen. Hamilton was, 10 this
country, the originator Of the banking and
funding systems, which Mr.. Jefferson en-
ergetically, but unsuccesstully, opposed
Hamilton was the tool of the money
COVER. Jefferson was the defender of the
interests of the producers of wealth. Ran
dali, in the preface to his life of Jefferson
SAYS: There was a sympathy between
his heart and the great popular heart
which nothing ever die, ever can shake
his mission was leadership. Without al
effort on his part, expressions from hl
hps, that from other mems would scareel!
have attracted notice, became thencetortl
axioms, creeds, and gathering cries to the
great masses of his countrymen, Thus
far, at least, his ideas have been transmit
ted TO succeeding generations without ant
apparent diminution of their influence.
This is truly Justly merited eulOgy. by l
northern man, on the founder of the Re
publican party Of 1898; but, alas! 'th
great popular heart" has been shaken, ant
Jefferson's ''axioms, creeds, and gathering
cries" the great masses of his country
men," north of Mason & Dixon's line, hav
utterly repudiated, while those of his abb
antagonist. Gen. Hamilton are the watch
word of the party in power. In cCnver
sation between John Adams and Gen
Hamilton, on the English constitution, tn
former said: Purge that constitution q
its corruptions, and give its popular branc
equality OF representation, and it would b
the most perfect constitution ever dev!se
by the wit of man" Gen. Hamilton re
piled: Purge it of its corruption, an
give to its popular branch equality OF REP
reseDtation, and it would become an ln
practicable government; as it stands a
present, with all its supposed defects, 1t
the most perfect government that eve
existed. This maxim of Gen. Hamilto
has been practiced for sixteen years by tn
party in power, And the cOrruptionlst
claim that "our government is the bec
that the sun ever shono upon. The col
ruption, fraud, and wholesale robbery {
the people, has eliminated III the corona
ton of a president, the tool Of the none
power, who was defeated in the elector;
colleges. Verify, we have been a submit:
sive people for the last sixteen years, an
this is the lust punishment of our tao
following extract from the Chicago Tribm
of 1864, proves the identity OF the funC
ing and banking system OF to-day with thu
of Gen. Hamilton: There never was
greater blunder made than when, unde
the guidance of the Democratic party
controlled by the southern element, "
permitted the debt of 1916 to be paid OF
Every dollar of it paid lessened the intel
est of the people in the government an
thereby instead of increasing its credl
diminished its strength. A people una
have a cold, metaphysical admiration tor
system of government as they have tt
the solar or siderial system, but they wi
not love it Internationally Until the
blood and interest are inseparably blende
with it.
The newly proposed financial theory Of
greenback currency is surely not an incoI
trovertable objection to giving the systei
fair trial. A gold and silver currenC
has been d long time Oh trial, aud ever
body, save few old fogies, have decide
that the supply is inadequate tor the pa
poses OF trade The coin basis" tor ban
notes has been and proved to be as unsti
BILE as the baseess fabric OF dream
We use the bank basis" for national ban
notes and if the producing classes al
willing to pay the bond holders $25,000,0C
annually rather than try the greenbaC
currency, they have right to impoveris
themselves and their children for the bel
eft of their memorable masters. Pusi
lanimity, however, is not very digni6e
virtue. New inventions IN mechanics, an
new discoveries in science, have always,
first, been taboOed, but perseverant elab
ration has given humanity thousau
labor-saving machines, and science i
ureatest achiaVements DIR Harvey III