The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-07-12

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ansl IA which Aanteas Nasi.is Ms ~
4 isssf istrt ah Tia ~ ~ III. .lr.iinh
advised she Withdrawal II Nj
ArAsnnai anil the substitution III
\ s.tiir ttth,f hHNs fhs srs@uii un% II.
i might hasr hasn anticipated tlls
! triumph In All. national hanks anil
TN overthrow III rsra, measure
l.snkinr Nh sl,r public welfare N tM,
lnhsi and Industries III III. country
! Following this ranar thu MT. falsely
'nlis.l ram nj ~ strengthen il,v pull.
H. credit" hii which rally was m
an a.t ~ add about tsm.ssNitN IN
the burdens " lnlaar anil l.uslnsss
Tot the benefit ~ capital. After this
rahr the ~, " January 18Th plo.
,idlhg Tot rcdetmihr and retiring
our Ufernlu.k currency aftsf Jan.
uary 1919. aud nl.o al,ranniing H.
l.enl tender quality afi.r that date
In February fs1a. thu ,Sfof H,gisi,,
published the following editorial ia.
nanh.ing that law. ami furnishing
arguments that neither itself nor
amy other paper Inns ie.n uhle u
successfully rahsros.ri. A. tn.
State Register u now nh ardent FIJI
lower after The fal~rhuod. nnl here.
~ir- NJ John sherman Will II have
thu Kindness ~ rrrro,lur. this ufii.
rlc " H. own AMI till IT. readers
wherein II II fnlsc. or untrue. or
whether II u now liring for rny mil
tho requirements OF purity di~ri. |
plinr. II then snid.
"Spccic payment" ~ recognized
and prac.iccd by flnuncirr-. l. II
hnmhng ~ the most gigantic Kind,
There Is really no such thing In
this country and never has been. In
practice; aud until thu whele com.
mcrcial nnd financial system l.
thoroughly and radically reformed
there never will III specie payments.
And tho whole history III this
country amply proves this position.
Onl,i and silver hnvr never been pai,l
~ note holders, whenever there WINS
n demand for the precious metals.
III thu days " peace nhd quiet In tin
monotMy world. when purrr II hci.
tor nnL more convenient than gold Or
silver, banks and tho government
have always been ready To exchange.
their gold for their own piper Hut
a. soon ms u stock Iohlrr or produce
gambler wishes 10 crente u pnnic 20
~ 20 d.rresS the products uf the
farm, all he has To Ito II To cluse tile
door of some moribun.l bunk, md In.
stantly on the flash OF the news
along the wire all the other banks
follow the lend, rendering hunk pm.
per Of deprecated value, antl max
Ing demand for specie. Hut III
specie can be- hnd. This |. not sup.
positions ease nor nn exception. It
y tho practice, md specie payments
hive never been the rule md never
Will b.. And thu only demand md |
argument there " In invor nf Il. II
thnt some stock jolbcr mny hold the
cards IN Ills hand 10 Great. another
uunic whenever he wants IN got thr
produce ~ tho country for hnli pricr.
"Spccic payment" Il n very fine
hobby 70 ride, and u popular dcln-
sion when there Is no demand und
no use for specie. but always when
The demand comes there II none 10
be- Ind. And there never will he any
to our financial system III
onR as this South.sea bubble. il,Is :
hnmbug Of Specie
payments " used To dclude, betrny ,
md impovcrish the people There Il
aoitinR ~ IT. Il Il Il phantom, only
o hctrny. IL ~ u myth TINT yunishcs i
nfo thin nir AZ III. first test IN to IT.
entity. T.
The Rrcnt English economist.
Aslnm Smith. has snid h. did not !.
consider gold necessary for the
w business. Mansfield. !.
he greatest living political cconn.
MIST In America, snys, gold IN not d |
standard of value" and Mcndali
who frequently Inns many |.
fuths, with his rash expressions. =
ays. n return 10 specie payments II /.
merely return 20 barbarlsm."
Judge Campbell, Of Illinois, who II 7
~ able writer and n profound legal =
MI scientific scholar, snys, In n late i
rticle Ia ths Northeastern Kerier, I,
hat the attcmp, TO make gold ~ the 3
tnndnfd and representative VI snl. !,
Ies, lis M the best but u cnnnIngly y
rviscd SCENE for cnrlchins thu FEW |.
money dealers III tho expense III I'll. =
clnssrs.' The farmer and y
lburr want no resumption ~ l,
pcric Payments. II they nIr 10 tnkr "
npcr they want ~ know thnt IL will Il
eyer b. redeemed, and not u. IL. n
ldcd with the hope TINT when Ii Ii ],
crdrd specie cnn be- had In * ii
llnnge The farmer Inns learned Of
The banks have suspended. means q
nlf price TOT Ills lubor, or products, y
MI that banks, never pny specie U
hen u II needed. and only pretend !.
lut they will whcn'it III not needed. 7, !.
VI me- opposed to any more specie !" :,
uym9uta n IL 4b.. f.nia 0..v q. 1..o. -