Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1878-10-26
Ir1edsenAable Cnper Money.


known, should have weight in a
crisis like the present, when we are all
called upon TO choose between sound
convertible currency and the alternative
of following to the bitter end the course
of irreIcemable paper money:
Washingtou: Some other states are, IN
my opinion. falling Into the very TOOL
ish and wicked plans OF emitting paper
money. l cannot give up my hopes
however. that we shall ere long adopt Il
more just and liberal system OF policy.
John Adams: IcannOt but lament III
nv Utmost soul that lust for paper money
which appears in some parts OI The
Unilel States.
Thomas Jefferson: Capital may be pro-
duced by industry aud acumulitrd by
economy; but jugglers Only will propose
TO create it by legcrdeihain tricks with
aper money.
James Madison: The loss which Amer
icl has sustained since the peace from
the pestilent effects of paper money on
the nee, SIS ,ry confidence between man
and man. Oh the nee 'ssary confidence IN
the public councils, on The industry and
morals of the people, and OH the cllarac-
ter of republican government. constl-
lutes an enormous debt against the
states eharyeible with this unadvised
measure, which must long remiin un-
satisfied; or rather, it is an accumulation
of guilt which can be expiatei 10 other
wise than 10y IA voluntary sacrifice OH the
alter of justice OF The power which has
been the instrument of it.
Andrew Jackson: There never was nor
ever could be use for any other kind
Chan reGeemable currency except for
spectators anu gamblers in stock, anil
this Is 10 the utter ruin of the labor and
morals of the country.
james Buchanan: The evils of rcdun-
dant paper circulation are now manifest
TO every eye. Ii alternately raises and
sinks the value II every mans properly.
Ii makes Il beggar OF the man To- MORROW
who is INDUCING in dreams of weaitr tC-
day. LII converts the business of sOcittv
into mere lottery, while those Who dis
tribute the prizes are wholly irresponsi-
bic to The people. When collapse comes,
as it must, it C SITS labOrers out of en-
plOymerft, brushes manufacturers and
merchants. and ruins thousands of hon
est aud industrious citizens.
Abraham Lincoln: A return to specie
payments at the earliest period compati-
ble With due regard 10 all Interests con-
cernej should ever be kept in view.
Fluctuations in the value OF currency are
always injurious; and 10 reduce these
fluctuations 10 the lowest possible point
will always be Il leading purpose in wise
legislation. Converlibiiity, prompt and
certain cOnvertibil.ly into coin, is nc
knowle iged 10 be the best and suresl
safe9 agaiast them.
U. ). Gran.: AnDng the evils grow
ing OUT of the reb, Hon is hat of an ire
deemAble currency. IL is an evil which
hope will Give your most earnest alien.
ton. Ii is the duty. and one of the high
est duties, of tile 'Overnm mt to secur,
to its citizens Il medium of exchange o.
fixed and unvaIylng value. This nipple:
Il r-turn TO specie payment, and 10 sub
stituIe tor il can be devised.
r. Il. Hayes: We must not forget thai
the sure>t foundation OF a restored finan
cial prosperity is Il sound constitutional
currency AMI SUSTAINED national credit.
Alexander llLmiltOn: Paper emission,
by the government are of mature so liabl
tU abuse-l n,ay say SD certain to be abus
ed-ihat The wisdom OF the government
will be shown by meyer trusting ifsel
with so seducing and dangerous Il power
Secretary William III, Crdwford: RrvO
luilons my arise, instructions may
mcIIacc the existence of the govern
ment-a metallic currency ris in val II
under such circum-t .nceS. No
so with paper currency Its credir tie
ponds in a great degree upon the conf
dence repOsed in the siabili OF tt,
authority by which il WAS issue :
Should thai authority be over; brown by
foreign force or Intestine coniinO. ion, ~
immediate depreciation. if not absolut,
annihilatiOa, OF its value wOu cn>iIe.
Salmon Z. Chase: The Secretary rec
Ommends no mere paper mriGey scheme
but OH the contrary Il series Of III aSure
looking 10 a safe aud gradual return Il
COLL and silver as the Only permaiien
basis. standard. aud measure Vi value e
ceived in the Constitution.
Daniel Webster: OF all the contriv
ances for cheating the laboring classes q
mankind. none h 5 been more etfectua
than that which deluueS them with Di
per money 1t is the most eilec u O
inventions for fcriilizing the rich man
field by the sweat of the poor man
brow. Ordinary tyranny. oppression
excesSivr. tax ,tion bear lightly on tn
MISSES of community compared witt
frau Iulent currencies and the rObberic
committed by deprecated paper nOney
We have suffered more from this cauS
th.ln from amy 9th l. cause or calamity
Ii his klile-i more IN n, pcryaded AN
corrupted the choicest Interests Ot OIL
country more. and done more injus. ic
than even the arLs and articles OF on
enemy.
Henry Clay: If there be. in regard (
our currrnty one truth which the uni e
experience of the whole cOmmerci;
world has established, had supposed
to be that emissions OF paper money con
stl ute The very worst vi all cOnceiyabl
species oil Currency.
| Thomas Ill. Ben on )Old Bulliom: If
were going to establish workingman
party il should be OH the basis OF. har
money! money patty against a pape
party.
Charles Sumner: Surely we must all b
against paper money. We must ali s.
our fac against any pr p position like b
| resent. except us Il temporary eXpeGieI
rendered imperative by the exigency
the hour. Reluctantly, painfully, COZ
sent that the process should issue. An
yet c'nEOt give such IA vote wit.ou
warning the government against Ill
dangers OF such an experiment. III
MEDICINE oI the constitution must not be
come Its daily bread.
Hurce Greeley: We advise any ma
who wants 10 cheat himself into the b,
lief that the funded DEBT of the Unite
States may l,wfulIy be paid in greenbich
/ not To read this IA indy v1lumr (Spauit
ing's Financial History OF the War; III
less he is anxious TO know that he Is
rascal, and that every one sees it.
l 8 7 8. l 8 7 8