The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-08-23
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gree ~ tTnst~sIss as Atvvssass. A gusssn,
merit MA, lie fesdsd With coih ot Il mas ~
Ainest sntisss drained shessfvss the vie.
dem ~ aiI commercial Kosssnnaehts has lid
them IL AAuta . anm~ssie ~ haaas an.nss.
1tais u dnn. ~ The uesesnnvns issuing I'Apss
nnney, ~ authorizing th~ Lsnks III HI -,
There Ii little IN no gsusat tn the Government
In esissang gald " saseS. b~cAnse ~ tls rcss ~
The hullloni hat psl~t naeney II naaas II "a
article of but itis. sAlu~, hsnee ths Huoffis
ment ~ bark issning u snAkrs Ntras rFeAt
out ~ II. bscAnee tAts never part With 4 dol.
lar ~ Il unisse they receive osae hundred eenss
In return. 1hefvforv, when shuse fact. are
cansidered, yun will readily understand Why
there Il 1 contest 4. 10 Who shall Issue the
paper money.
We 4. mand. III the language % jefferson,
THAT tho banks should surrender their cur.
rency, aud the issnc ~ paper tls,ii.y he r..
rtored 10 The Government, 10 whom II I've
longs" Hut II Ii said that ruin and irtr.s
would follow the closlng of the national
hanks. We don't ptuppsc u wind np
the banks. When thr Nasioi q, l,ank Ac,
went into effect 4 high tax MS placed
upon Niate hank, which compelled them to
abandon The circulation cf sh,lr notss. Anh yet
the business III The country wa% not disturbed,
bccanse other paper none. took its place, ami
the banks were changed from state 10 national
banks. Ia the same Way the national banks
could be changed from banksof ,srne % banks
oe disconnt aud depo,it only. Doahtless some
VI tho bAhksrA would Try - rctAin their pres.
snt privilege VI loAning their indebtedness TOR
intcrcHt, and thcy might desire 10 cnhArraSr
the business % tho country, bnt this point can
bo guarded by the issnc Ia advance u 0ov.
ersli,icnt notes. Tho busincsa community
would derive urcAt bcuctlt from Government
currency, bcs' s,tsa the Government would Ect
100 ccnis for every dollar issnci by L., whether
pAper or coin, hecAnse tho paper would cost The
holder just - much - cntn. A. 4 !. now,
cola costa the hank iO0 cents on the dollar,
whereas tho PAPER money tssmcd by them costs
them Inst cent on each dollar. Tho Cavern.
nent money would cost too much IL bc kept
lying idlc, aud the hanks would loan Il Ut the
best rate they could get.
have said thAt rapcr money, whenever we
insist upon MI lsstiu ii Government hutes, based
on tho credit q thu whole people. the ghost os
the Continental money And Confederate scrip
IN II oncc brought rsunincnsly before thr I,e0'
plc to convince tlion. that Htlch rotcs viii ri.
WAya dcrrVciAtr. Mr.. urocabuck, nj tilciii.
nAii, III liis parer upon the subject vi silver.
which ho resi-, before tho Bankers Convention
In Now York Heine tune sltice, dIRrcssed from
hts subject VI silver aud brought these ghosts
citation of Continental money and the Cnnf.d-
crate scrip. lla sAid shnt al money like our
United ktAlcs iutes would dcprecinlu III time ri
var. | regret, bec.t.c " The high standing VI
Mr.. (,rursi,rck, that ho should attempt tor ~.
psrc our United States noteS 70 Continental
aud Confederate noser. The Continental hotos
wore not ba.ed upon taxes tho Continental
by consent II tho btates, and, II she had had
ha power. they had almost nothing to tax.
Tho Confederate natrs wer. mol iesuod by
Government Il Ill, but by states
In rabcllion trying 10 establish = uov.
crnnlcnt, aud whun their cA.tse fAilod
their money would of course le worth.
lons. Will Mf. Nrouslcck, or any other Ad.o-
cate of banA currency rcdeomAbie In coin, Ls
candid or honest enough 10 inform thu country
what bccamv Ut ihs radecmablo money of the
South, every dollar of which wAs lost 10 tho
holders, and what would have boom the fAte VI
the North had II MT Decn Tor the issls VI legal
tonder notes BY the Government Ihe banks
had bcen utsier suspension " specie payments
for more than twelve monthA, and no niAh ~
business can come 10 any other conclusion than
this. lhAt the people would have Lost every dol.
lar of their money had nut thc urecneaek act
Of February, isdl, enabled thetn 10 redeem
their notes with them, Wc ask for tliu iasuu III
notes BY 4 Government ri mufe than lVu Years
standing, With credit sccoisd ~ nonr. and with
can boar with man of bnt little Information
bringing forward those ghosta, but when ono
like urocHl,eck - far fosgcts himself ~ 10
do NJ, hu demands some attrntioi,. defy any
upposers oe the issnu III such notrr ~ w Ark
for by tho Government 10 point 10 siuslu In.
stance where thu irsne was made BY rssponsi-
bio Governments that they ever ,lld deprv.
ponnHylvAliA. Virginia aud North Carolina,
when they we're colonies of 0ruAt lstisain Thuy
never deprecated below coin, although tlaey
ln circulation for nearly furty years,
aud added much 10 tho wealth Ut thnse colo
niea. Tho iiint notus issued by the uovsrn.
ment after tho war began werc called demand
nosas, but, whcn II MAS sccn that tho oovsrn.
mont had no coin to pay them with, Oongress
made thom full legal tunder. and Tiny never
deprecated below tAo value Vi COIN, aud
over toO.O u thun, Asc ontstAndinE to-day.
Whom coin wAs worth 2s5 IN Hrcrnbacks,
which were limited legal tenAsr, tho do
u,And note, that wAs 3 full legal tender, WAS
worth tho same premium IN grctnbacks. Nced
| nAy n,ure2 Can Any one doubt tho ability vt
our Government 10 mako her own notos par
with coin to tho extent that thu legitimate
trade III the country nccdr 10 perform ~.
rliAngas2 l.edrrnlkllc la coin un business
lVd IL thu Widest imitation and tho
Lluat lMiilons contraction. and want ~ cA.l
your attention ~ the Glib Aid Nov VI currency
nndur specie bAsls from 1911 until tho issuing
Of Government nutas
Hank currency IN iril. tas.enosa