The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-09-12

and our own late overissues are bald
fiction. But if it be true that the issue OF
irredeemable paper money cannot be IN
limited without depreciating its purchas-
ing power, then there must be a Hmit
somewhere or il cannot buy as much per
dollar as gold coin. You must concede
that there must be limit to such issues
somewhere. and that the limit must be
fixed by somebody and on some plan. The
democratic party offers you rational
greenback, value greenback, CONVEX
tible hard-money greenback, a greenback
dollar that viii buy as much as gold dol ;
lar and your leaders offer you one that
would not buy twenty cents on the dol
lar. There are now more than eighteen
hundred millions of interest-b bearing bonds
outstanding. Waving all question of the
right to do 80, does anyone believe that if
they were recalled and greenbacks issued
in their place such new issue would only be
ohe-half per cent discount Why, you
might make them receivable for customs
and all public dues; you might declare
them legal tender; you might even demon
etize gold and silver by law, and still they
could not by any possibility be worth hall
their face in the bullion price OF wheat,
and perhaps. not 6tth of their face, Tor
commerce in self-defense would be COM
PEELED to abandon money and barter its
commodities for bullion BY weight.
The democrats oppose national banks
and favor greenbaeks, but they
are greenbacks whose value shall
be secured by the national limitation oil
their volume. And, mark my word, you
will never get any other. If you succeed
lin defeating the democratic greenback you
may deliver the country over to the tender
mercies of national bankers, but you car
never bring the country to adopt your wllC
scheme of imitation. 1t is not founded II
common sense. Ii is a deluslon and
snare which may lead you away from you
natural home in the democratic party, bu
it will never win the country nor brlnI
you to political success.
And now, my fellow citizens, before con
Guiding. allow me to say few words OF
the socIaIistic and communistic aspect o
1.-The third party movement. These twt
are practically one, and they present
great question in their deepest philosophy
for which there is no time how, and upeI
which / am satisfied most of those VIII
talk for and act with the movement havt
u6V6E b6EIOucly buOu&nls AhO WAOAS AAS
lis really anti-republican, in the genera
, sense of republican, and can only be praC
tically inangurated by the overthrow G
our present form of government and on
present organization of industry. TIL
principle on which the agitators prOcee
is at war with the whole tone of modern,ol
for that matter, all antecedent, social, com
mercial, and industrial life. 1t denies th
: wisdom of what we have treated as an III
deniable axiom, that he who earns do
s lar ought to be allowed to keep it. It de
Q MES the benefcence of the doctrine of sur
8 ply and demand, and stigmatizes it as th
= very quintessence of industrial tyranny
J. 1t demands that the labor of all shall b
{ pooled for the benefit of all; that Their
: shall be no rich or poor, no employer O
: employe, 1t will be at once seen tina
such system of society could never exis
], without radical change in our whole sy'
q tenn, social, Industrial, and political, Th
e machinery for such communistic societ
= is unknown to, and practically at war witt
It the whole framework of republican inst
n tutions, and tho whole spirit of moder
y civilization. 1t would be next to imposs
; bic TO apply it to sparsely settled rur
D districts, to farming, or fishing, I
!, trapping, or mining, or to hundreds
& necessary vocations even in cities
4 towns. Hence it has taken no hold in Il
e country, and the honest, unsophisticste
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