Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1878-04-18

The Greenback Lunacy.
Last week We published call for a
Greenback meeting, to be held in
Balcony Hall on Saturday, April 18th.
We did not attend the meeting, but
understand that club OF sixty-two
members was formed. Without stop
ping to ask whether either OF the old
parties are to be benefited or injured,
we would like to say to those men
Do you know what you are doing?
Have you considered well what you
are talking about? On the day that
the Greenbackers met in convention
in this city, gold was only worth one
fourth of a cent premium in New
York, and exchange. payable in New
York, sold in Chicago at par in cur
rency. On that day, if those men had
wished to buy gold in New York, they
would have had to pay one-fourth
per cent premium. but If they had
wanted to sell it, the brokers would
have given them no premium. Prac-
tically, gold and silver and green
backs are at par. The gold extremists
have experienced wonderful change
of heart, as regards the financial
question, during the last three weeks,
and the tenor Of our Washington dis
patches would seem to indicate that
extreme soft-money men are rapidly
regaining their senses. The Finance
Committee Of the United States Sen
ate, It is said, instead Of reporting the
House bill to repeal the resumption
act. win report new proposition the
main feature Of which will provide
that all the United States legal-ten-
der notes outstanding on the first day
Of July next, shall be receivable for
custom dues and all other obligations,
except where otherwise explicitly
stipulated. This will at once bring
United States notes to par with gold
and keep them there.
Now, in the face of these facts, and
with the minis turning out gold coin
at the rate OF million dollars a week,
and silver coin at the same rate, max
ing every month an addition of eight
millions of dollars in coin to the cir
culating medium, is there anything
needed but to urge Congress to go
forward In the way proposed? 1t
seems to US. that to repeal the re-
sumption law, or demand that a
change shall be made in the entire
circulating medium of the country,
would be at this time utter madness,
and could bring nothing but ruin to
all classes, except the gold gamblers.
A restoration Of business confidence
Is needed just now more than any
thing else. Let the business men Of
the country know that there Is to be
no more tinkering Of the currency,
that greenbacks are not to be with
drawn from circulation, and the
money that is now lying idle will
commence moving, and 1t will be
found that there is plenty Of money
In the country to transact its legiti-
mate business. The United States
have the richest mines OF gold and
silver in the world, and during the
last eighteen years, have supplied
other countries with more than a
thousand million dollars of the prec-
ious metals. Let US now have a
policy that will keep our gold and sill
yer at home; and to secure such a
policy, let the people vote against all
loud-mouthed demagogues and ex-
tremists OF either the hard or soft
money fsctions. There Is not now,
and never has been, any reason why
greenbacks should not be as good as
gold, considering the limited amount
In circulation. This fact is now con-
ceded by the gold brokers. There
was never time when the premium
on geld, IL wanted in exchange for
any other currency, was less than
now. A settled financial policy, such
as 1t now seems that our Congress
men have sense enough to adopt, will
keep our gold and silver at home and
in circulation; and we shall not be
surprised to see the time when. IL a
man has more gold than he wishes to
carry, and wants to purchase green.
backs, he will have to pay az much
for the exchange as he does for gold
to-day.