The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-10-11
WHOLE NO. 1929.
WY y Couldn't be a. Greensnes.r.o

winter ana spring, Deen someWha, Ia eympa-
thy with the greenback movement, and, by
many OF my cd friends called Gre reenbacker,"
il 's no more than proper that should give
my reasons for Withdrawing that sympathy
] For several years had been "out OF polltics,"
and the issues before the people were new and
not familiar to me. 1t required no careful
study, however, to understand tha. we were in
the midst OF hard times and didn't know but
there was a rottenness somewhere that was at
the bottom OF all our difficulties, and differ
ent management would remedy the matter.
am naturally independent in politics, and with
these impressions supported portion OF The
greenback ticket at the spring election. though
never declaring myself an ou.-and-out green
back man. DESTROYS of knowing the trnth or
falsity OF the principles and teachings OF this
new party began TO carefully nvestlgate the
matter. l wished to understand nv duty and
the result has been that every step Of that in
vestigation has driven me farther and farther
from he idea OF ever being a sreenback man.
! became thoroug!y convinced hat lie whole
thing was a frand-just the conclusion 10 which
i seems 10 me that every candid man must
arrive at who investigates the matter without
prejudice.
They professed 10 be the wsrulsst possible
friends OF the greenbacs. They proclaimed its
wonderful victories anc sang its praises every
where, and We were led 70 suppose that they
meant just what they SAID; whereas, under
the gsrb OF friendship they were gathering
strength that they might destroy It. t was
only few days since that We heard Dick
Treyeilck, recognized leader Of tha. party in
this state, declare publicly, that toe first thing
they would do after getting into power would
be to burn up the greenbacLs' how large
following could they have got had they origin
ally declared this as their purpose? aud yet
this is just what they are teaching o-day.
They have declared from every Tost4am and
through every press, that there bad been no
reduction of the national lebt. Int that, on the
contrary It had continually increased whereas
investigation shows that Il has been lsssened
over seven hundred million dollars. and with
an annual reduction of our interest account OF
over fifty millions Il any complaint can
legitmately be made With reference TO chr
national debt it Is that the government is pay
ing it too fast. Thus RAPID payment has re-
suited, however. in giypg us a credit, second
only to that of England, in the markets of the
world
They declare the contraction OF TIE currency
TO have been the source OF all our evs-Aguy-
ing it at one time, at about two thousand
millions Which they contract with the present
circulation and triumphsntly show, as they
seem to think, contraction OF nearly twelve
hundred millions. In making up this enorm-
Gus volume of currency, they include the seven
thirty treasury notes, and the compound inter
est notes amounting IN the aggregate, TO
81 ,041 100000, the largest interest bearing
securities this nation ever had. II is inmate
rial to me whether these were ever legal
tender or not, my own experience, with every
other man who was handling, as was, good
many thousand dollars Of money, is sufficient
to satisfy me that these did not largely enter
into general circulation. There we're twice as
many as there were OF the greenbacks, and had
they entered into and formed a part OF the
general circulating medium, SIS did the green
backs, they should have been twice as numer-
Gus; whereas, the facts are that not one bus,-
ness man out OF ten, ever saw one Of them.
But If they did, the property to which the
greenbsck orators go often refer Us, continued
for several years after they had been all with
drawn.
While not one in ten Of this new party would
sanction acts Of communism, yet communism
is one OF the legitimate fruits Of the constant
arrsignment OF labor against capital Labor
and capital are twin sisters whose interests are
so interviewer that you cannot wound the one
without the other suffering.
| They have sought the support Of the tan
payer by crying out against the "untaxablo
bonds" notwithstanding the Supreme Court,
more than 80 years before the rebellion, de-
clsred that no government securities could be
taxed by any State or municipal power, (2nd
Peters Supreme CT. Reports 46O. This was
again affirmed in 1868. Had Congress express
ly declared Its bonds taxable, following the
lead of these decisions, the Supreme Court
would have pronounced such declaration un-
constitutional; and q moments consideration
will show the reasonableness OF this. Were 10
otherwise, the nation would be at The mercy OF
any state or municipality unfrendly to govern
ment bonds If at any time Il wished TO raise
money, even to save its own existence. With
out taxation the government csn borrow at
four per cent. while we pay ten.
Though We have the best banking system
the world has ever seen, and free TO any and
all who wish to embsrk in 1t, yet owners OF
bank stock-exceptng OF course those running
upon their ticket-are denominated "sLylocks,n
vampires" "blood-suckers,' ETC., etc, until
the vocabulary Of even Kesrney has been ex-
hausted.