Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1878-10-04
NEITHER NEW NOR WHOLE
SOME.

NEITHER NEW NOR WHOLE
... SOME.
IF any of our readers are deluded into
the belief that flooding the country with
currency is new or successful eXpedlent
xve heg them to be undeceived. 1t is es-
neciallv important to the States composing
orr section that they should not be mlsled
on this subject. They are just recovering
from a calamitous season, brought on by
a long and exhaustive war. during which
they have had the sad experience OF paper
mills grinding out millions of dollars, with
the poorer classes bowed down with their
lips in the dust of poverty and want
Every Confederate bill now in existence
should bring to the minds of our people the
operations Of unlimited currency But
century further back than this, the lesson
was begun for us. AT the close OF the re-
evolutionary war currency was scarce among
the people. Peace had arrived, but more
money was called for. The government
yielded to the cry and went on to issue
S254, O0O, 900 of continental currency alter
the war had ended. Its fate was this:
silver dollar was worth in March, ITS,
s1.75 in currency; the following September,
81 in currency; the following March, $40;
the September following, SIS; the March
following that, $40; in December, 1880,
500, and in May, ISL, one silver dollar
was worth $500. The more issued. the
faster it deprecated. This was not the
issue of a government which had failed,
like that of the Confederacy, but one
which had come out victorious, and which
was issuing money to meet the wants of
the people as it was said.-The very same
pleas that are used now. They are not
new. They are heard after every season OF
distress, through which a nation has to
pass. The twenty odd millions of CONT
mental currency, out the year after the
war closed, was quite enough for the then
small population of the country, but, as IN
all cases, the cessation of general labor had
turned it into few hands, and the people
at large, sore and poor, wanted more Is
sued. before the industries OF the country
had revived and ssgrOWn sufficient to en-
ploy it. l}-2.40 .Ne e-.
And so, to-day, there is no lack of money
in the country; the trouble is there is no
use for it. Coming home for an example,
the National Valley Bank of Staunton has
since the panic of '73 retired 100000 OF
its bank notes, thereby cutting down the
volume Of currency to that extent. Ii it
could have used it, Of course it would have
kept it, but there was no call for it. As
the demand increases for it that lnStltu-
tion will again get its original amount OF
issue. If the people become beWildered
by the wild speeches OF stump orators
about paying off the whole national debt
in greenbacks, and flooding the country
with two thousand million more of them.
when there is no call for what we already
have, and yield their assent to such mad
ness, they only prepare themselves for a
great financial calamity. to. which that OF
five years ago will be as nothing.
Flood this country with gresnbacks and
no man will sell what he has except at the
prices that will ruin the buyers; flood IL
with irredeemable greenbacks and he will
not sell atall. At the South we under
stand this thing though the North and
West. where the greenback flood idea orig
mated. have yet to learn it. We have been
through the very thing that they are talk
ing about as a novelty. Our people Know
the delight of paying a years taxes With
the price of few bushels OF wheat or
few pounds of bacon, and the pain OF pay
ing almost whole years crop for wagon.
They remember the latter days when it
was almost clear that the money would
never be redeemed las is the case with IL
redeenable greenbacks) when they
wouldn't sell anything for the stuff, no
matter in what quantities rendered. There
was plenty of money; men worked for one
hundred dollars week in the cities and
starved at that. The rich. it is true didn't
starve. They could pay any price and get
ANYTHING they wanted But for anything
short of wealthy man the misery OF those
days was set apart as his portion.
Before any man gives. in his adhesion
to unlimited greenbacks let him apply the
matter personally. If you are mechanic
YOU don't want $40 a day for your labor Ii
the cheapest calico dress for your wife
costs 5000; if you are a farmer who don't
want to sell bushel Of wheat IN Septem-
Der for So when by January the So won't
buy broom if you are a physician you
don't want to visit a score OF patients
day for an amount (presumlng you get it
at all. which is strained presumption,)
that will not purchase a scanty supper for
your family; if you are anything at all you
don't want your labor to be paid for LII
ssmoney'' that is plentiful and correspond
ingly worthless. . f.-
of course there will be soft money as
well as hard money Democrats, as there
are both sorts of Republicans, but we in
the South who know by sad experience OF
what we speak should seek to make our
section of that Democratic party, to which
we all belong, as solid against imitation and
irredeemable currency as lies in our pow
er While in all great political organlza
tiors there must be shades and differences
of opinion, yet let us 40 our share TO
making the democracy sound on contract
keeping and safe currency.
THE fall election in the different States
take place on the days named below: West
Virginia, October 6; Indiana and Iowa,
October s; Ohio, October IA; Mississippi,
November a, Connecticut, Delaware, Flo
rida, Illinois, Kansas, Maryland, Micbi-
gan, Minnesota, Missouri, Nebraska, Ne
yada, New Jersey, New York, Pennsyl-
vania South Carolina, Tennessee, VIZ