The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-09-25
Thomas Jefferson is the next wit,

Thomas jefferson is the next wit.
Eess:
Capital may be produced by industry
and accumulated by economy. bat only
jugglcrs viii propose to create it by leger-
domain tricks with paper"
And now James Madison:
1.-The loss which America has sustained
since the peace from the p~estiiential effects
of irredeemable paper money, on the ne
cessary confidence between men, on the
necessary confidence in the public councils.
on the industry and morals of the people,
and on the character of republican govern
ment, constitute an enormous debt against
the States c~hargeable with this unadyised
measure, which must remain unsatisfied,
or rather it is an accumulation of guilt
which can be expiated no otherwise han
by q voluntary sacrifice on the altar of JUS
tIce ofthe power which has been the ins.ru-
ment OF il.
The words of Andrew Jackson and
Thomas Benton apply especially to
the workingmen. Let US hear from
jackson:
"a paper currency is n great curse to
any people, and a particular curse to the
laborer OF any country. for its deprecia-
ton always falls upon the laborer."
Senator Benton wrote:
cit paper money tends to aggravate
the inequality OF fortunes; 10 make the
rich richer and the poor poorer, to multi
ply nabobs and paupers, and to deepen and
widen the gulf which separated Dives from
Lazarus"
This is Daniel Webster's testimo-
ny:
"The very man of all others who has the
deepest interest in a sound currency, and
who suffers most by mischieyous legislation
in money matters, is the man who earns
his daily bread by his daily toll. A depre-
ciated currency, sudden changes of prices.
paper money falling between morning and
noon, and falling still lower between noon
and night, these things constitute the very
harvest time of spectators, and of the
whole race Of those who are at once idle
and claity. = = = = \ A
dlsordered currency is one of the greatest
political evils. II undermines the virtues
necessary for the support OF the social sys-
TEN, and encourages p~ropensities destruct-
i've TO its happiness. 1t wars against indus
try, frugality and economy, and it fosters
the evil spirits of extravaganza and specu-
lation. OF all tie c0~atriDdaces for cheat
ing tie laJoriBg classes Of mankind, none
has been more e1ectUdt than that achtch
delades them Nth paper money. THIS is
tie most e1ectual Of iaUeatioRs to GeFtiiize
tie rich mans fields by tie Saecat cf tic
poor mans 5rOic. Ordinary tyranny, OPP
preston, excessive taxation, these bear
lightly upon the mass OF the community
compared with fraudulent currencies and
the robberies committed by deprecated
paper"
For the benefit Of the latter-day
Democrats we may quote Mr.. Buch-
anan. lie said:
"trredeemable paper money converts
the business OF society into a mere lottery;
and when the collapse comes, as come it
must, it casts laborers out of employment,
brushes manufacturers and merchants, and
ruins thousands Of honest, industrious cit
liens.
Republicans will certainly not deny
the good Judgment of Mr.. Lincoln.
During that blessed era of greenbacks
which orators are now holding up as
the halcyon days OF the Republic he
promulgated this utterance:
"a return to specie payments at the
earliest possible period compatible with
due regard to all interests concerned
should ever be kept in view. Fluctua-
tons in the value of currency are always
injurious, and to reduce these fluctuations
TO the lowest possible point will always be
a leading purpose in wise legislation.
Convertibility, promptan certain CONVEX
tibility, into coin is acknowledged 10 be
the best and surest safeguard against
them
The sound money views Of Grant
and Hayes are too recen ana well
known to call Tor quotation. The
point to be established is that either
the Greenbackers are wrong now, or
else the most conspicuous statesmen
we have had on this side Of the At
lantic were a pack Of fools. This is
a tolerably plain issue, aad a be
comprehended by ANYBODY.