Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1878-03-02
Letter on Finance.

To tie President and Members of The Green
tack Contention nor IN session al Toledo,
Ohio:
Gentlemen: Elected and delegated, to your
body, by the Greenback men OF Summit Point,
West Virginia, and finding it impossible for
me to attend, take the liberty of expressing
to you what, think, are the wishes aud views
of this portion of West Virginia and, indeed,
of the State at large, upon the subject Of A.
merican fuance.
They hold that Congress is bound to furnish
money-that is to say, q stamped instrument
of exchange Of all their productions and labor
and that the Constitution OF the United
States gives to Congress full and plenary pow
er to determine the material through which
the " sovereign money power of the 'people
shall be expressed, and exerted, and whether
that material shall be piece Of gold, or silver,
or paper: or all these different materials may
be used. in conjunction, to express, and give
action, to the sovereign money p0lceT in effect
ing their exchanges, aud made an equal legal
tender for all dues public and private In a
word, they hold that money is poCer-heir
pour-and may be manifested, and exerted,
,hro' any material they, in their volition, choose
10 select.
Secondly: They hold, that every image
and superscription Of this their sovereign
money power Should issue directly from the
government to the people on terms of financial
| equality, aud that the sovereign money pow
er Of the people should not be farmed out TO
corporations or banks, but, like al other SOW
ereign powers Of the people, it should be exert
ed thro' some proper branch Of their govern
meDt.
Thirdly: They hold, that the volume of mo-
ney should depend upon demand 10 trade, and
in exchanges rs in all other pursuits and bus
mess that it should be large enough 20 effect
the exchanges upon the cash principle, and
without private or corporate credit that 60
yernment Is as good for greenback, or legal
tender treasury-note, as for a bond; that all
funding and banking are equally vicious and
are, both, modes of taxing the industries and
exchanges Of the people for the benefit Of a.
few fund-holders and bankers: and, therefore,
that under no circumstances whatever, or for
any purpose, should this government, with The
po.cer Of making money, ever make, or give
bond TO any one.
I have thus. Gentlemen. stated, and without
arguing them. the principles, that those whom
=
stones Of American finance, and will only add
that can see no good reason why the Ameri-
can people should pay, annually, ten thousand
millions Of dullars To corporate bankers TO ex-
change ten billions Of productions, when using
their own money power" 10 cooperation,
they can. through their government and COM
mon agent elect the sane cxchange-the only
fling to be effected, os product pays for pro-
duct and. q; She simple cost Of issuing and
distributing the "tools Of exchange and
commerce to oil who have labor or products to
exchange OF trAdo.
In conclusion. Gentlemen, lnclose you my
credentials, aud praying for your wisdom and
firmuess III executing the great trust reposed
in you by tho people. Of emancipatiug them
from tho slavery and black mail of both fund
ing and banking" | will add the hope that no
temporizng compromise will omascu!ate the
eiIec, and power Of the crea. work committed
10 your trust.
JEO. A. THOMSON,
or Summit Point, W. Va.
Washington, Fob. 10, 1873