The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-10-18
BEECHER ON GREENBACKS.
From the Boston Journal


The Rev. Henry Ward Bcecher opened the eourss Of
lectures ana entertainments at the North Avenue
Congregational Church, Cambridge, last evening. His
subject was "rhs Reign OF tho Common People," and
tho pur poso snow the changes which tho gen.
srai spread Of intelligence has wrought in human
thought and In the relations OF men toward one
another and toward governments Speaking OF tho
popular deusions which now eogrossing the pub
lie mind, no said that there was mono which would
fade away sooner than that which the greenDack
represents Continuing on tie same subject, no sad-
Tho idea thata government can create money by
simply stamping paper or leather IS theory which
may live Tor day or two or season, but II there ever
was anything that would cure itseli, that will. am
not AFRAID OF It's ultimate results ! know that the
people say boldly that n ths government that de-
lermncs tho currency. What 10 tho currencyY IL Is
the means by which man can exchange ono thng tor
anoIhor. cannot cut on the corner OF my barn and
buy q pound Of snun. l cannot carry around any
thing so bulky as an OK. ! have got 10 have some.
thing by which l can exchange one kind oil prop
cry for another. What should you selccty You
don't nesd TO select anything At ali; you might as
which shall. 1.-Two There thing about which
the nations agree, and don't Know that they over
winch they are singulariy united, upon winch they
stand together, and have stood together Tor 5000
years, and that - that gold aud silver shall be The
medium by which property snail DO represented
aud exchanged IL IL not question which has
been determined by governments at oil. All
tho govern ments on Garth might pass nn
sd,ct that gold shall not represent property
aud Il will mako tho least diforoGce; or that
paper shall, aud would make The least differ
ence. IL ~ ono those tnings wncn havo boon de-
termined by the successive Experiences Of nations.
For more than i've Thousand years wo have tho actual
record Of the proportional value between gold aud
silver, varying Itic wan time, but stiIl about the
same. Down through thousands OF years gold aud
silver have been tho same Gold Is gold every where.
Five dvllArs In gold ID the wbcsc, and the
man who has gold In his baud 60 anyw hero and
Paper is nothing but representative Of gold, used
for tho sake Of convoniencc as property Is loo ouky
tor exchange But paper Is notans but repIsse nta.
vi gold aud SILVER aud ~ IS just ns good as they
when It can command ihcm; aud IL 10 good Tor
nothing when cannot Cornelius Vanderbilt wont
down the bank day with piece Of paper In MS
fingers, and ho didn't seem 10 make much OF It. But
II was check So 900 900. tne largest that had ever
been passed there. a. had triod 10 pay the same
amo unt in gold ne would have found u pretty hard
iop carry IT, Gold weighs q ton and hall 10
ri 600 900 so that no would have had carry nearly
ave tons Whom commerce is parutvcly small gold
ana svcr be transported from piaco 10 place, and
convenient; but when commerce. extends - can.
not DO used conveniently. suppose man IN Now
York wants 10 pay halt million dollars To man
New Orioana I don't want 70 DO suspicious, but
ana New Orleans who would steal II m ihoy got the
chance. SILVER weighs thirteen tons to $1,000 900,
They can be easily handled IN small TRANSACTIONS. but
IN largo have paper u COMMERCIAL contriv-
ancc. But your paper Is good Tor what exchange
Il Tor. II you can exchange II Tor house or farm,
t Is good Tor that. II u cannot be exchanged Tor
property, or Tor gold or for silvor what ~ II good
iors All gold apd silver represent property, all
represeht thcm dsnoitely. II you print a nvo
dollar bill you must DO definite about what repre-
scns, wheat or cloth, or gold But u y Is merely hvo
collars, ana you onor u 10 aud he says no win
not gold or SILVER tor IT, you oer u te tho
ornnent ana " says u Will not pay gold or silver Tor
IT, then It's lace value goes down Why cannot tho
government mako paper money! Because u eau do
with reality what ~ cannot do with sham. Gov
eminent only regulates existing values and In the
OF paper ~ proposed not to regulate value but
ave 10 value. There Is no govsrDncnt on Code
earth ,na can give value TO paper rnsy say
paper shall be equivalent 10 gola and redeemed In H.
but no government Garth can say that zero means
somclnina.