Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1878-10-04

iuIi utitItuct anu TtSptCl-tnit tnc btSt
European thought is fastening to the doc
trine YOU advocate. In the three most en-
lightened and powerful nations of Europe,
England, Germany and France, question if
single authority can be found that would
advocate or even tolerate the idea of the
Government issuing paper money and dc
clarirg it to be legal tender. France. under
the terrible pressure OF her war with Ger
many, never issued single dollar of paper
money. and she forced her great bank back
to specie payment as promptly as possible
after the contest closed. The "best Euro
pean thought so far as | can read its cy-
preston, contemplatcs no paper money ex-
cept that which is rcdeemable in ccin at the
will of the holder. II you can give me any
recognized authority in any OF these coun-
tries that advocates different doctrine. |
shall confess myself obliged to you for valu-
able Information.
You express your belief that the policy of
the Republican party on this question Twill
insure Southern Bourbon rule for the next
dozen years" That, of course, belongs to
the future, and each of us may indulge his
hopes and his fears. his apprehen>ions and
his spcrulations, concerning it. But did it
tNti hANNi W Npu Nuui p"h
theories are precisely those which the South
crn BOurhOns are now advocating with zeal
and almost with unanimiiy? The Southern
Democrats who are resisting the demand for
irredeemable money may be coratcj on yoar
fingers, while its advocates in their ranks are
rs the sands on the seashOre. Among the
many evils to be feared from the Southern
BOurbOns coming into power, not the least
would be the triumph of these identical her
csies in finance to which YOU are lending the
great weight Of your respected name.
There are thousands OF millions of proper
ty in the Northern States dependent for its
value upon the maintenance OF public
credit and the assurance OF sound cur
rency. This is not the property Of the rich
merely, but OF all classes; Of every man
who has deposit in savings bank of
every man who owns State, municipal or
railway security; OF every man who has n
policy of Insurance on his house, or his
ship, or his life ; of every widow or or
phan whose bread is derived from trust
funds of every pensiOner whose fuel and
whose food depend on the monthly stipend
paid him for service and suffering in the
war. For all these classes and others that
| might cnumeratc. scattered in Northern
States from Maine to California. the South
ern Bourbons are not the appointed guard
ians nor the natural protectors. But it be-
comes alarming when We see their efforts
aided and Allotted by your weighty and elo-
quent words, by your great and yenerated
name.
In all great struggles in the political
world. issues become generalized and details
are left out OF sight. 50 it will be with
this financial question. There can be but
two sides to it; one for "honcst money"
the other for "wid initiation :" the one for
maintaining the faith and honor of the ma
ton, the other leading to the verge and
POSSIBLY leaping over the prceipicc of repu
diation; the one composed mainly OF those
who stood by the Government in the hour
of its trial the other deriving its chief
strength from those who sought to destroy
the Union Of the States. In the PARTY for
honest money there will, in the end. be
many Democrats and | am sorry to admit
that irredocmable paper has found some of
its ablest advocates in the ranks of the Re-
publican party. am with great respect,
Yours very sincerely,
j. &. BLAINE.
The ELECTROMAGNETIC plan, the lolIy oil
which is so forcibly shown by Mr.. Blaine,
was, as our readers remember, one of the
features Of the financial scheme advocated by
Bradley Barlow in his Greenback letters of
1867, and still promulgated and endorsed
by him. lie was and is for heavy infi,tion,
by the issue of a thousand millions in green
backs, for paying the fye-twenty bonds in
paper and for compelling the Government
to pay interest to the capitalists, at fire per
rent, on all their idle dollars; while by lin
ting the size of his interconvertible bonds
Or certificates Of deposit to 800 and up
wards, he would deprive the poor man of the
privilege he offers to the wealthy.