The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1878-09-19

were uctCs-dEilF Juceltalu- lHdt OOstrL
. ments tried first TO regulate this matter b
ailoying the coin, but they soon found
necessary with the increased commoditie
10 stamp n paper money based on coin, an
with the increase of commodities they mul
tiplied these paper dollars without incres;
ing the base, until the failures Of bank
T had become the rule and not the exception
That this system OF money would Away
and necessarily be an unreliable medium
of exchange. That i; had crushed the busi
ness men on an average about every lei
years since Jackson vetoed the Cnitet
States Bank bill.
That If the Government would regula.
the amount of money per capita, base,
. upon the population or per cent upon III
commodities Of the country, and then hole
II uniform, business men could make som,
reasonable calculation fer the future. Tha
the great mistake OF Congress wss to pay
off the non-interest bearing, and leave tbs
Understanding debt unpaid. He ther
read statement from the Chicago later
Uoe1H, compiled from the Treasurer re
ports, which showed that in 1866, We had
as a circulating medium Of ali kinds, oi
81 sos, 102, S26, and that il had been gradu.
ally reduced until, in 1877, We had S696,.
as, 39., which has been reduced over ten
millions since, which reduces the amount
per capita TO Sl2 That this was SD less
per capita than Germany, and So les
than France. and yet our bankers say We
have too much money.
He thsn read from the United States
statistics 10 prove that the $50 bond were
a legal-tender' for debts, and that they
were us-d largely in commercial transac-
tons. That contraction Of the currency
had shruuk the value of the securities Of
the savings banks, and necessarily broke
them mp; that they had lesisiated the mon
ey OF the poor man into the CRATE TO in
crease the purchasing power OF gold, and
tine value of the bonds That, while the
value o.. the bonds had gone up TO Si.3S the
real aud personal property Of the country
! had gone down IN a much greater proper
! ton; that President Hayes in his Mime
apolis speech said, Legislation had increas-
ed the purchasing power of the money of
the country SI7j 900 900; but he failed to
tell us that it had reduced the value of the
c0mmodi,s OF the nation over six billions,
and that a few more years OF such financial
/ prosperity would swamp the nation beyond
redemption. [Applause.l He said our
congressman DO tsted that they had legisla-
| ted a greenbsck dollar to the value of a
dollar in gold, but they DID IT By DESTROY
ING THE GREENEACKs. More applause
lie said, What wo.ld you think
OF lot of wheat merchants who
would propose TO raise wheat
to 300 per bushl but they did it iir-; by
distributing rotteu seed among the farmers
I'LL one half failed 10 come up, then by
throwing every Possible difficulty in the
way Of agriculture. they reduce the crop to
a small quantity, which they ship TO an
eastern warehouse rnd lock il up and raise
the price To 500 per bushel, and then
boast 10 farmers that their wheat was
worth 500 bushel but the farmer re-
plies, 81 have no wheat either for seed or
bread, and another such tIr~ would strive
me TO death" Applause.l So what good
doe it do 10 say 10 the poor man, whose
f-rm Wa mortgaged when money was
plenty, or a poor IN III huniing employment,
To tell him that greenback was worth
dollar?
He said, the gras>hoppers would beat
thai legislation they came over Kansas
some wears ago, and looking down on ynur
fields oi corn, said You had an COVER PRO-
DUcTIoS, I'VE will go down and RAISE the
price Of your corn : and in thirty days they
raised the price from 20 cents Il bushel 10
50 cents a bush /. Laughter
But the farmer had the corn 10 buy when
il wa eighty cents bushel, more laugh
ter and they then PRAYED the Lord 10
drive the grasshoPper out Of the country.
i.aus hter. That they left and have had
too much .nnde-ty 10 return. Applause
and laughter Bat the Legislators who
have burned up your Greenbacks and
bausrupted your cOuhtrv have the lmpu-
dence 10 come back and ask you to send
them again 10 Congress tproarous APP
p!ansc. bravo. &c. lie SAID the Govern
ment in 1866 received over SJ5S, OO0,cOO,
from taxes on imports aud internal reyen-
ues, that little over three hundred mil
lions only WAS required 10 pay the Interest
Oh the public debi, and meet the current
expenses OF the Government, and that il
the balance had been sold for gold, or paid
on Government bpEdS, and thus thrown
back on the people. they could have re-
,Iuced the boz de | Indebtedness nrsriy tao
huodred millions and received III. same
amount Of revenue next year, and thus by
keeping up the volume Of currency they
o"u:i have kept up the prosperity #
the country, and paid OF
two hundrei millions a year. which, long
since. would have paid the last cent OF our
bonded Indebtedness. That would have
been Iime en1u .h tn let the water run ont
OF IlI. d AN when the grIst was ground,
and MT b, fore no sensible man in trapsac
ting dizziness inr himself would pay a non
interest hearing debt before he paid the in
tarrst hearing. and that men who transact
business for their constituents, as our Con
gr,s- has done for Us, as Bishop Simpson
s,y-, is not Il; 10 legisiate for a Tree people.
lie then said, ii he had the power, he would
stamp three hundred aud forty-six millions
Of ABSOLUTE MONEY and with ii he would
buy up the United States Greenbacks; that
when we mad the power TO MAKE them, We
will have the people to take them that
some people said they would not take the
Old gr.enblcks, but they finally repeated,
and did, and 50 they will again when We
give them chance Much laughter. that
We would repeal the act OF 1869, known IA
the act to strengthen the Govern
ment credit, which act both Sherman AMI
Morton pronounced Infamous becau.e il
increased the Indebtedness OF the country
over tao hundred millions OF dollar; then
would nav out these three hundred and
fortv-six millions, the very kind OF money
We Ctnll dIltal W pay 4bt tiitN' ''h'- 'h't
the only possible wrong in this transaction
would be the to people, and MOTTO the bond
holder, for he had received up till now
coin interest on his bond, and Rnu money
worth double what il was when he pnr
chased the bonds, and made 80 by tie SAC
riff e Of the people.
Then he would stamp three hundred and
thirty seven millions more, with which he
A L.. l.
and demand gold or greenbacks Tor their
redemption, and cancel a. many dollars Of
the bonds az they left the National cur
rency unredeemed, which in the nature OF
the case woIld be nearly the whole amount,
and thus he would lessen the bonded in
debtedness about six hundred and eighty
three millions
lie further said lie would Issue NOR.
greenbacks and place them as reserve in the
Treasury, with which to aid oar merchants
in paying QUE foreign Indebtedness
with exports 40 that mer-
chant when he reached Liverpool
with a cargo OF wheat could say TO the
English merchant: IL will sell you this
wheat for either gold or American secnri-
ties, but prefer the latter, "a for it can
realize the same, and with less danger of
loss on the sea- He brings the boni To
the Treasurer Of the United States and -elis
il for greenhacks, then brings it out Wet
and distributes il for pork, for corn, ant
for beef, and thus he pays our bonded deb.
abroad. and enables the farmers To pay
their debts ut home. Did he receive O"ld
for his whest, he could sell his gold to the
Government for greenbacks, and distribute
them in the same way, and were the Gov
eminent TO slow the merchant ten p
IN, IN his gold or h nd that he mig, ~.