Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1878-08-28

less tnAn $lO, ana vast majority G
them above $50, so that they circula,
ed very little among the people
Don't you know that the interest dai
ly accumuling on thesel governmen
securities caused them to be hoarde
like good notes and mortgages, an
took them out of circulation Don
you know that "Johnson's Cyclopa
dia," vol. ], page l,226, in its articl
ON "The Currency" written by Alex
ander Delmar, Chief of the Burea1
of Statistics, says the total circulation
OF the United States, per capits, il
1865, was $24.90, or less than half W ha
you state 1t to be? Don't you know
that the currency in circulation il
1877, according to the same Cyclopa
Ola, the "American Almanac" snt
the Treasury report, was about 81!
per head, or 81 per head more tha,
you stated in your speech at Ypsi
lanti?
Don't you know that the purchas
ing power of the greenback dollar
has Increased from about 20 to 99k
cent? since 1865, thus enabling the 81!
per lead to do more business, wher
required, than $24 SO would do ir
1865?
In charging tho present tinancia
distress upon contraction, don't you
know that all these short time bonds
which you reckon az circulation IL
1860, were taken up according to law
by the year 1868. whereas the pani,
did not occur until 1878?
Don't you know that the enormous
sinking of labor and wealth in rail.
roads which did not pay, together
with the incredible waste, debt and
suffering from tho rebellion, were the
causes Of the financial depression
Don't you know that there would
surely have been panic, sooner or
later, and that there always will be
panics when men over-trade, over.
speculate and overstrain themselves
in business, or when nations play With
sword and fire at the game called
"war?'
Can such evils be laid Justly at the
door of the Administration, and are
the moneyed clssses (who have lost
much of the capital they put in) to be
bounded to death and denounced in
your classic style as "crew of old
cusses," "pinching Shylocks," "rob-
bers OF the people," "tools and pimps
Of corporations" and cancers on the
body politic?"
Did you not at Ypsilanti pay the
following generous tribute (the only
generous thing to be found in your
whole speech) to the lamented Presi-
dent Lincoln: 81 believe that Abra-
ham Lincoln was the greatest man in
human history, and as ages wear
away, unshackeled and regenerated
humanity will fill the earth with his
praises, and the infants of posteritv,
lisping his virtues, will drop tears of
gratitude and scatter perennial flow
ers on his tomb? ?"
Do you not know that President
Lincoln, in his annual message of De.
cember, 1862, spoke of tho is-
sue OF greenbacks as a measure
which the government was compelled
to resort to by the pressure of war
expenses, and declared that "a return
to specie payment at the earliest Pc
riod compatible with due regard to
all interests concerned should erer be
Kept an uie@; fluctuations in the value
Of the currency are dl,cays Injurious:
and to reduce these fluctuations to the
lowest possible point will always be
a leading purpose in wise legislation /;
conrerti6ality, prompt and certain
convertibility into coin, is acknowl-
edged to be the best and suyest safe.
guard against thom?"
Now, il Abraham Lincoln was ..the
greatest man in human history" and
80 good and wise a man that YOU
"voted for him twice and are proud
of 1t, as you say, once voting for him
after he sent the above Eard-money
message to Congress-, why do YOU 90
back on Mr.. Lipcoln's advice?
why do you sling mud all over the
men who stood with Lincoln then
and continue to stand where he did
Are you the bright light of the
world on finance, and was Abraham
Lincoln "hard-money fool" and a
"pimp OF the money power
Was he Subsidized" to support the
national banks when he recommended
in January, 1868, that Congress
should furnish a national currency
through banking associations, organ
lied under a general law, with their
circulation secured by the pledge OF
United States bonds"?
Will you tell your audiences wheth-
er Lincoln was knave, a tyrant and
a conspirator against the rights OF
labor in this country?
Will you repeat and confirm the
filthy ISLANDERS upon him and his
sainted memory, put forth by your
brother irredeemable, Brick Pome-
roy?
Are you not talking to Republicans
and Democrats about forgetting their
old party ties, in order to make them
forget the multitude of great and no.
BILE men of all parties, excepting the
irredeemable, who have stood by the
worlds basis Of specie for our cur.
rency?
Finally, Mr.. Cary, how much il
your advice worth in business mat.
ters, since you have failed in every
kind Of business undertaken by You
If you cannot successfully practice
law or run a farm or hold 4 political
office, is 1t not supreme impudence in
you to come up into state like Mich.
igan and attempt to give lessons in
business matters to the people?
noil~~al r<>~~>.