The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1878-08-24
GNAWING A FILE.

! There is nothing that 50 completely un
horses the advocate, of Z" fat money as =
quote to him the unanimous decisions Of IN,
Supreme Court of the United States, declS rim!
that beyond the issue, under the stress of wa
and overwhelming necessity, of Si0J OO(
OF legal tender greenbacks by the government
any further issue woud be demonstrations
and void. The common way Of meeting tn,
argument is to scout the Supreme Court anC
affect profound contempt for its authority Thc
recognized organ of the Dational greenbacker.
of this county states the, case in behalf of il
party about As clcarl.} as it is capable of being
embodied in the cWrrent vernacuar, though il
must be confessed that the contempt the " or
gan" shows for the supreme court is quite
cqualled by .he contempt it manifests for the
simplest rules Of English grammar and OF
Noah Wcbstcr's way Of spelling and defining
common words
We suppose, as the constitution stands and
always must stand, that the majority OF the
people possess the highest authority or juris
diction Of any assembly cXtant and by this co
rent court the government shall be directed to
Dul llllD tIItuldliDn Il vi
full legal tender money, to supply the existing
want If it does not happen TO possess quail
.ty whcrcupon Wall st. Shylocks can manlpu-
late the " Shaving" process, so much the bet
ter, if they scout them" let them make Il
money to suit thcmsclvcs-if they dare. The
courts would sustain Wall st. MS they must
for money. We don't propose to allow wall
st" to drive the Greenback horse, HIS it has the
Republicans You will find that the fiat
money will be worth just 1000 on the Dollar.
There is another little circumstance that is
persistently overlooked by the fiat money-ma-
MACS. When congress, in 1864, authorized
the issue of S400,000,000 Of legal tender green.
backs. it also authorized the issue Of $500
100000 of $50 bonds, bearing per cent inter
est in gold, but which were made purchasable
in greenbacks at par and redeemable in green
backs; and that the creditors of the govern
mcnt might know what they were getting in
the purchase of these bonds, congress and the
government, in behalf of the United States,
made and put upon record, and it thus became
"a part of the contract, the solemn pledge, speak
ing with unanimity through both branches of
congress, through the executive and all par
ties and all sections, that they would so pro
tect the currency in which those bonds were
to be paid, that it would never permit the
amount of legal tender currency to be issued
to exceed S40O 100000, and that this currency
should be made rcdccmablc in coin IA soon as
the financial resources of the government cna.
bled it to do so.
The fiat mOncymanacs propose utterly To
scout and rcpudiate this solemn pledge, and
overriding the constitution and the de
cisons of the supreme court, to issue
some S2OOOO0000O Of grecnbacks, that
shall be redeemable in nothing and IN the
money market of the world not worth 10 cts.
on the dollar and in this debased paper to pay
the national creditor.
The democratic party, in many Of It's con
ventiOns and assemblies authorized 10 speak
in its name, has declared in favor of but one
kind of paper money, and that that money
TO be issued from the United States treasury.
Also that such issue shall include the legal
tender grccnbacks now IN circulation, and that
at least as much more paper money as to cover
the present issue Of national bank bills shall
be issued in the form Of treasury notes, and
that all the paper thus issued by the govern
mcnt shall bc kept at par with com, either by
always keeping on hand Il sufficient amount of
coin to meet any probable call on the govern
ment for its redemption, Or, in case the coin
on hand should be insufficient, to redeem its
paper in such government bonds as shall com
mand the coin in the money market of the
world This would be dong the business OF
the government on honest, business principles
on the principles of the merchant or other
business man who, when unable to make his
payments in cash gives well secured note.
For the government to do its business on any
less honest principles than every honest man
must observe in the every gay business affairs
Of life, would make this Il nation of gamblers
and thieves, and our national escutcheon IA hiss
ing ang by-word of reproach throughout the
IclyilIZpd world