Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1878-09-04

I0kS stvuHssd wssid, naks n - good - eay
ether nensy, and maintain - standard Of
valss = higA = that Of any eoia sver issued %
eons 81 you, Who believe in "Aat"
money. ~ that you desire the Same result
but Il 4 clear that you can only maintain
~ ~ ,; :Sssy = P 3, !, ~. .s coin sise e y y : .s csss,
rsdsmptioa IN coin whom demanded. II
Ithat % What yoa neaA ~ "Aats monsy,
then " viii not disagree; bat Il y well
kAown tha& tAoss Who advocate STAT
monsy want - tncroaso he amount beyond
. sum that can 10 maintained ct Pal with
coin, and who seek thus 10 cheaper money
By making it lees valuable than coin.
WHO bRsIRn CHEAP MONEY.
I can imagine how . man deeply In debt
And hoping 10 Escape bankruptcy may desire
70 cheapen the moaey In which his debt Il
to Be paid; but why should = laboYing man
whose daily toll ID haeesured By the money
Be- receives desire 70 cAespen that money
Why should . farmer who sells his prod6c'
00V1IW " &DV0Wy 0V0ABO W AGU3G0 u KWAgU00
Ing powers Why should . prudent, thrifty,
in06stSioas man engaged in any occupation
WAo hopes BY his thrift and industry "a
accumulate for himstAa competence, desire
70 have his labor measured By . money Of
unstable valuel 1t 10 the interest Of every
enc engaged IN industrious employment
who u NOT . spectator OF . broker, 70 have
. 6xsd standard Of value. II any Of you
who labor, are farness, mechanics, or BE-
sad have hope from . deprecated money,
All the great men Of our country, oufrev.
olutionary fathers and their descendants in
the war Of 1871, and the statesmen Of the
days Of Gen. jackson deeply felt the evils
Of if~redeemable paper money, and expert.
ence led them to the conviction that gold
and silver coin, or paper money well &c
cured and convertible into gold and silver
coin was the best for al classes and for ell
industriss.
In these general viewsin favor OF resump.
ton adopted BY the Republican party We
have had the sympathy snd concurrence oil
. certain portion Of the Democratic party,
who, though they always by instinct and
habit voted against every war measure Of
the Republican party from the beginning 81
the war 70 this time, even In the darkest
hour OF the war, always protested to be in
favor. and talked in favor OF coed money
redeemable in coin. This class of Demo
cFats, though they opposed the resumption
oct did it because they declared it TO be
M because We did not resume sooner. Thil
was the position of the last national Demo
cratic convention.
SENATOR THURMAN.
senator Thurman, my colleague for sew
eral years II the senate, was one of thii
class OF Democrats, and, although our fnan
eial measures did not please him and b,
generally voted against them, yet he freely
said, like Mr.. Bayard and others, he desire(
resumption and stood by the old jackson
Democracy in favor of hard money. Tb,
exegencies Of party tactics have led him re
Gently 70 deliver : speech TO which, will
entire respect 70 him ! desire briefly to re
ply. So Tar - he seeks 70 show his con
sistency and concurrence with his fellow
Democrats, il u . domestic matter, and
will not interfere, bat some OF the positions
taken by him l must contest He says
~ think I do them mo- injustice when / say
cay that the leaders OF the Republican party
are in favor Of the opposite course-that Ii
70 NY, they would retire all the greenbacki
In order that their places might be Allet
with national hank n0tes."
Senator Thurman 10 greatly mistaken il
this position. A. ! have already shown Ii,
Republican party 10 not in favor Of ~retirial
he Rreenbecks In order that their places
might be filed with national bank notes.
No doubt some RepublicaaS like some
Democrats, are in 'fay0rof the United Statel
Withdrawing from The business Of issuing
paper money, but the Republican party hal
never taken such . position, and now dis
tinctly maintains the right and duty Of thu
government TO keep In circulation such u
amount Of United States notes - can b,
readily maintained Ut par with coin.
In every law authorizing these notes ther,
ID . limit fixed to their amount.
During the war the guarantee was made
and never has been violated, that the lasges
amount should not exceed $500, GC0, 900 ana
mo authority has ever been conferred upoI
any officer Of the government TO reduce thu
amount below $500, OOO, 600, but nov tn,
minimum limit il fixed, ~ I have already
statsd, II $346, 6S1 ,O18.
n his speech ct Hamilton, Senator Thur
man openly advocates increasing tn,
amount Of United States notes ~outstAndinl
from $546, 600, 900 to t666, 600, 1000 by issuing
IUaited Slater notes in place Of the ~nationa
the principal feature Of the Democrat,
platform il the proposed substitution 0
Ereenbacks for national bank notes. H,
would thus render specie payments impoa
tsibls during this, and, perhaps, the mex
Egeneration. and this ct 8 time when speci,
Iresumption, which he has 20 strongl,
favored, 10 on the eve Of snccess.
POSITION or THE R~EPUnLICAN PARfY.
The position Of the Republican party i
in favor Of ~greenbaeks restored to t6sis nor
mad condition Of paper money, equal to coli
and redeemable In coin ON the demand o
tho holder, while the position Of the Demo
crstic party, ~ stated BY Judge Thurman, il
in favor Of the issue and msintenance il
circulation of $668, 900, 900 Of United Ssatel
notes without any provision Whatever fol
their redemption OF conversion into coin
This issue 10 distinctly made and for one
distinctly accept it. We favor paper money
redeemsble in coin. and the largest amouni
that can be maintained at par with coin
while he fav0rs an amount of papsr issued
directly by the government, mot c0nveRtiblt
into coin, with no provision for its redemp
tior, and to an amount that NO one ha,
claimed can be maintained ut par With cola
He says it il inst ~ easy to maintain $685.,
000,Oo0 g~reenbsck q par with coin ~ Il l. 4
maintain 4346, 100000 greenbacks and 1922,
or. 900 national bank notes at par with coin
BANK NoTEs PAYABLE IN GREKNBAcKs
NOT IN GOLD.
But he forgets 70 state that the bank note
are payable in g~reenbacks and mot IN coin
and that they are to be redeemed by th,
banks ct their risk and expense, and not b,
the United States. No coin reserve 10 need
ed By them for such redemption. The issu,
Of these notes aids in maintaining the Unit
ed States notes at par with coin instead 0
~ohetrucHng II
vaults aud IL the treasury Of the Unites
States, m ample reserve Of United State
1 rAfAa - pmIAnHn tkm{p&Mntmn ard AhmG &C.,