The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1878-10-29

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FIAT HONEY. |
The New York Sun Of the I'D has
40 able article illustrating the disas-
trous effect of IN irresponsible, un'
redeemable paper currency. When the
French revolution uprooted tho social
foundations, the chiefs devised .
scheme for issuing notes, ass'goats'
bearing interest At three per cent. 1t
was known % . project for "coIn'rg
the whole land Of the country into
money" except that no coin was en-
ployed to carry it out The French
people were tod. o the American
people are now told about ''the Eat
money" that wealth, comfort and hap
piness would follow in the train OF
the assignats.
Bsrnave denounced Laws scheme,
the memory Of which still survived
after two generations had passed away,
- based upon the phantoms OF the
Mississippi; ours upon the solid basis
Of ecclesiastical lands" Mirabeau
threw all bic weight into the scale, and
maintained that tho aseignats could
not b better secured than upon the
land % which they were issued. In
his Gerry way, be exclaimed: II would
rather have . mortgage on . garden
than % . Kingdom Perverted eIo-
quence. passionate power, misguided
craftsmanship. and mighty inteIlec-
tual vigor could not avert the calamity
which the few who remained calm in
the aidst of the violent throes Of the
Revolution knew to be inevitable.
The crash came and with it widespread
bankruptcy, and the assignats were as
worthless - the notes and bonds Of
JET Daviss Coniederacy.
If the blow had fallen on the arti-
6cers of this huge fraud and their con-
federates it might have been borne
with patience BY the rest of the world.
but Il crushed the iiresides of Labor, and
spread misery among those who were
least able to bear it. The result is
summed up BY . phiIosophic historian,
in these instructive words:
Before the end of the year 1895
the paper money was almost exclu-
eively In the hands Of the working
classes, employees and men Of small
means. whose property VA not large
enough to invest In stores Of goods or
national lands. The financiers and
men Of large means, though they euf-
fsred terribly, were shrewd enough to
put much Of their property into OBJ
iects At permanent value. The work.
ing classes had no such foresight, or
skill, or means. On them finally
came the great crushing weight Of the
loss. Afier tho 6rst collapse came up
thu cries Of the starving; roads and
bridges were neglected; manufactures
were generally given up in utter help.
lessnees. None felt any confidence 10
the future in any respect; none dared
70 make 40 investment for any length
Of time; and it was accounted q folly
to curtail the pleasures Of the moment
to aocumulate or save for IN uncertain
future"
This L; the sort Of entertainment to
which the people Of the United States
are invited. Indeed. the advocates Of
the so-called Cat money propose come
thing worse than the French assiguats.
for that had ct least the lands Of the
Grown and Church to fall back upon.
Our magnificent 6nancieu who would
like to food the country with paper.
reject gold. silver. lands. and every
thing valuable. and expect 70 create
money BY act Of Congress. with .
printing press and paper - the only
representatives. Of value! Whoever
proposes 70 establisk false basis f;,r
the currency not known to the Consti-
tution i On enemy to the public pro-
perity.