Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-08-14

the mount OF the eXaCtlOn Dul II Tie BrecnDacK Ii
as good as the banknote and nobody denies that it
is, why should it not be substituted for the banknoe,
| and an end put to the e1action7
And consider further, that for every greenback it
has issued the government has received value. That
greenback has paid for services rendered, mater
als fu nished, or it has dscharged portion of the
Understanding public debt There Is thus saving
to the government, or to the people, OF an amount
equal to interest upon the outstanding greenback
/ government would have ha1 to raise the money by
| loanOr taxation, to meet its expenditures. If it
raised 1t by loan it would, of course, have to pay in
terest uron the loan. II 1t raised it by taxation the
taxpayers lose the interest their money would have
earned had they not been compelled TO give it 10 the
government.
! 681 ,016. Computing interest upon this sum at the
| lowest rate ct which the gov rnment can borrow
money, per cent, and We have an annual saving to
the people, resulting from the Il the greenback,
Of S13,8672t But if greenbacks were sibsiitu Ell
for 800 100000 of national banknoes outstaud-
ing, there would be further saving to the people of
per cent annually that sum- nalnelyj S12s8s,ooo
| making total annual saving by the use of the
greenback of S2s,747,240. From this, however, de-
| amounting to about three millions annually, and
the saving would be about twenty and three
quarter millions petnaIs IN s.rcs4ess, thus DE-
able that the banks throw the burthen of taxation
their customers, who in turn shift it to the Shout
taxation, 1t finally falls upon the great body of con-
| sumers, the people.
1 have thus given you, felow-ctzens, some rea-
|
notes. now proceed to consider the only objection
to the substitution that seems to have any weight 1t
is said that if greenbacks were to constitute our only
| paper currency, its volume would depend upon the
action of Congress- and not upon the natural laws OF
trade; and that Congress is likely to be influenced
by popular feeling on the one hand or the arts and
appliances of special interests the other, the
rency would be subject to imitation cont action
o'her influence might prevail, to degree that would
| be ruinous to business and prosperity.
In to this objection and admitting that 1t is
not without force have to say in the first place,
that it is equally potent whether paper currency
he greenbacks exclusively bank-notes exclusively;
for let it be one or the other Congress would have
the DoaCer to expand it contract 1t at will For In
stance Congress to repeal the tax State bank
circulation, multitude of banks would spring up
under State laws, and great initiation OF tho cnrren
cy would take place. On the other hand, should Con-
gress retain the and retire the greenbacks, the
Republican financiers demand, frightiul contrac=
ton would result. In BRIEF if Congress should have
neither sense nor honesty, might, for the time be-
ing, ruin the country; but to assume that it would do
| So would he to condemn our form of government.
| But our platform squarely meets this difficulty. 1t
condemns contraction on the one hand or exiting" on
the other. that "the OF such issues
(Rreenbacks) be so regulated by legislation or Orga
ic law as TO give the peoue an assurance of stability
in volume Of currency and consequent stability of
value and in unmistakable e.ms it opposes the de-
monetizat on or disuse of precious metals Could
anything appeal to YOU be more conservative than
this consery atism means to conserve the interests
of the people ut large and not of certain class?
! Can any intelligent man reasonably object to policy
that preserves gold and silver from destruction and
|
currency greater than has ever yet been attained?
| Felow-c items. our platform has been denounced
by men who read it, and by Others whose inter-
ests or preiudces incline them to misrepresent it,
aud now the answer make TO the" is to ask you to
ID and to study it. 1t il in va for its enemies to
say that 1t means what it does not express. us ~
8naSe Is TOO pan 20 Dc ilsunoerstooo ny canui.i
man. ad .'e cnarac.er OK e ~ m ~
Gu. ane Tue convention 'iia ~ 10 - w
shlea ~ from .ae cnarge oa t ~ ~ IT, az
est platform anu ineais JsV via. II says. - ea a
oPpoaiuoh 10 hioiopoiS, oppoeoii " epooiai pit'i
leees, opposition 70 co,iacoi VI 'ne Up
posou W we s, sa. y. .'e op t
s!tioh 10 "astelui expenditure ana opposiloli ~
hevef-enn1ng pupEc oeot ana II MEANS eq '' is
and privileges an honest ana s,ape currency, s'rlcs
economy and lighter taxes ana iaith1u payment VI
| the public debt. IL gives no sanclon 10 lrIsuelnn
ana communism Dut II ltis tecos.nAe IT. .le B,.y
OF laDor ana sincerely sSlpathles wiz. .e
man III ms Toll ana pva.loh :. assel.s Wy piiot
pies on winch me government was touhoeu' anu
Whlch are essental 10 us useluess anu Per %
IL pto"o.es 1taterha leeii.s .iiloussius @ . 49,
anu olea u, VI .i.e i.el. ~ ~ na - :,
@ h "a t'r tf of bonest ,ne,, Iatrotic Mat
aii HOTTEST p tioiln ~ @ iAen' P'''o piA'
III lUr it; ~ is anu t l.; error IN what have
~ e a. 80 ~ whr -, ana
"a -, Ia So ,s; 80. ISaaa.,1 S,a,,:styotion
s 81 pe III o carracs that az the Renhic
an narv or at least Of those who shape its leg Station
ID to .ts ne NH suI ,ernt that nartr should
cease oa se to c rn1s Will permit 'A'' p'A' '0
Hut there ae o'her reasons why mere shou oe =
change ala u some Oh 'h''h "-sh oi-o'S W cal
your auenuoh: .
Inc cam Oh parry Ia power a onirp nn ia nolicy
lib rue necessarily inVoises az ti'S ny 49, I
anu eo'elie!t III WIG pas "a M p"eu a,. 49, W.
VICIOUS OF uh%se' & az o+ nd he mt to s
s,,,, i4a .'ie 'iino oeins O. Ae"'' " P
ooili'oii'
Now, has the rule OF the Republican party SINCE the
close OF the civil war thrteen years 40 oeen wise
ana Denehcelst! thmk lhat ulls iuestl'n must pe
answered IN the negative. !. IN no. necessary W 90
mo deIa1ea M % az us
ceu lilat ne uohe III e H !. ~ o .
il us measures ilse oee pa su ~, @ h =. h
,a ii w Goa a, and nrnsne,v or The re-
% aia' is gu" ne Iii daYu that this
t .t l+ five re,rs s,,ffersa 90 nar
country mas lor the last i've year, a pe
maps no otlier Souiy e'et u III -
every 9ranch OF business, IN every hus.ta.
ton. The entire body OF the producing c asses
empowers e.nIoses ana ts u low. - @
an us .ha5 Are S the aaata of los .
Wy n t % ;n M M, , ~ az J
s aios aees 90 nr radncea 70 hal
norers tnr9Wn GU. Oh pl ~ n1
tune ana diminished "aB es mas oeen esllllateo ..
hiols, ana howeSti e1asei'Ieu Wy esi'rS La.
o, =. ~; $500 =. IT, ~ th h;s4o,t &c NV,
tory OF thus II indeed IT mas IN tne history OF any
peope. Is .e iao., an a. ~ 81 sts~ irI
mcolhlreneus,pie, u III any country WHOSE pop'
uoh averages ou' eIeFSu persons W .iie eaule iiln
there nave been ana there YET are thousands oesti
4 | tute OF bread. single interesting none
1nterestnnas noa1ishao ana YET nou ,1.saaa
), and that, u Is 10 DC re = lt c
s precisely mat interest," .naS mas received .e nosei
ing care OF republican, legsiauon; NOW. my 1raends
It 80 1ar as thls aeporapie ssae ol 70 Ie Ies
OF vicious leSslanon or Oh .le OMISSION SON ol WISE
- lation, the Republican party or At least nose @h
i have controlled it. are responsible. from me atn ga
|. OF March, 1901, 70 te Aie' -u ~ -. ~, 49,
troled IN every Department of the Federal go,
ent and since then II has continued to hold the Ser
at. and the presidency and to have the conseuue1
1t ,,oa to naoat,,a a71v sure Of relief Democrt
lie I've ~ Observation-Disclosures might nronose
l. nouse " a - .ai,sS.
y IL ef e. t ;i y tia t bas 90 sred and "
iV 1 q i,b tth h said that these eyi
ID e,iie SUM-, Sa s - e forasaan cord MOI ha,
y Go.liu w. 10 ioiesss, ~, - r.. .,,d J ~
l. peeh ayoloeu VI ui,iiii In Az ~ ~ - o1,t
TX man WHO Wo'io naAe i'I ii h. n,.-;; &c
Ks no eofernlehI es VIZ was, VI ee W.. 49, ~, $3.50