The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1877-12-06
Intelligent and True Greenbaekers.

New York, October 1877.
To Earnest, Thinking, Patriotic People:
sit is g fact, much to be regretted. that
there Is comparatively large number Of
persons who (either through an unworthy
desire to appearto be what they are not)ea
more or less of obloquy unjustly to fall up
on intelligent and true Greenbackers, we
feel constrained to make plain statement
as to the object earnestly sought to be at
tanned BY intelligent and true men whs
advocate National Paper Money.
The true Gresnbacker sincerely desires
that the highest welfare Of all classes shall
be the sole object of all legislation, .wheth-
er State or National, and if he is intelligent,
be believes that the production ..of useful
commodities should be stimulated to the
fullest extent, and also that those products
should be equitably distributed. He is,
therefore most bitterly opposed to all class
legislation, for thereby equitable distribu-
tion is prevented and many are wronged by
giving TO the few control over more than
their just and proper share of production.
| uc pISccuCC VI AAOOOAotC
and the absence OF binding prejudice will
allow an honest investigator to perceive
promptly, that medium Of exchange,
which shall properly meet the requirements
Of trade must be of uniform purchasing
power and that these requirements cannot
be met by any articles of merchandise, for
the reason that the infallible law of supply
and demand regulates values according to
circumstances and conditions which are
constantly changing and which, at best,
make all values only relative.
All merchandise, because of Huctua.ion
in value, being thus ruled out as unfit for
use as money with which to make payments,
il is plain that the Government must, by
its simple declaration, make the money OF
the realm which alone eau justly discharge
debt, whether il arises from taxation OF
otherwise.
Then IL naturally follows that in coming
money, as in all other matters, Govern
ment should lay the least possible burder
upon the people-for each individual is {
part of itself It should, therefor, impres
its sovereign ediet upon the most suitabl,
and economical thing. This Requirement
experience plainly shows is fully and mos
, satisfactorily met by the use ofpaper money
. The intelligent and true Greenbacke
= advocates this policy, claiming that al
y appropriations proper to be made by Con
greas should be paid in National ..Pape
Money, the ultimate proper redemption G
' which is through taxation. And in orde
: uniformly to give JUST circulating me
: dunn for all purposes, the levying of take
. should be so far delayed as to permit of
~ sufficient volume of money. He furthe
e claims that the ONLY method of determ
. ming what constitutes sufficient volum
r is through an AUTOMATIC adjustmer
'. of the same by means of interchangeable
of this currency-at holders option-wit
. bonds Of the Government bearing an equiti
BILE rate of interest
:, A true and intelligent GreenbacHer Ca
- never consent to the fixing of the volun
Of currency at any certain amount per ca
u ita. Neither does he !concern himse
especially about the volume of currens
= that has beeu in circulation at any pa
- ticular time, but he simply demands til
J., free intcrchangeability, at holders optic
y of the money thus coined and paid out
~ =, for necessary expenses of Government,
:, :. with Government bonds. But he insis
~ =. that the interest upon these bonds shall
>" at a rate at once low enough to be equ
~ ~. table to all classes, and high enough to pr
~ vent super-abundant volum Of currene
~ This we ask and nothing more, so far as t
~ currency is concerned, and he never q
- tempts or even assents to the discussion
~ the tariff or any other similar issue
NC having any specially important connecti
with the question. Respectfully, SC,
WALLACE P. GRoo