The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-04-19
Irne Nortberner.
Paw Paw, MlcHIeAs, APRIL 10, 1878



the sreenback organ OF this village begins ITS
article on the finances in its last Issue, and
strange as 1t may appear. there is no doubt OF
the truth OF the proposition. In0 PIG q.
N the members OF the greenback party had
a,ry correct idea OF what Honest Money Is.
thsrs can he no doubt that we should hear far
lees absurdty and nonsense from the Great
financial ezpounders who 20 much do congre-
4, gate on the corners Of the street and in public
npSsces and spend their time which might be
better employed in gaming az honest liyeh-
hood, IN snl.ghtening the dear people upon
tina awful nnanclal condition OF tina country.
That gresnbacks were essentially war cur
rsncy issued az a war measure, when the
nation was in dire distress, and its life endan-
gersd. even the "orgsn" itself admits. And
whas were tue greenbaeRs 80 issued That
they were mere promises OF the govern
maat TO pay money must be patent to the
most casual observer, and although they en-
tered into and formed a part Of the circulating
medium OF the country, they could in no sense
be considered as money. any more than bank
checks and drafts, certificates OF deposit or
individual no:as can be treated as money and
Their value depended solely on the faith the
people had that the government could and
would pay them in absolute money
1.-THE tirstissue OF non-interest bearing notes
OF tho government WAS s5OO000OO authorized
by act Of congress OF July 18th, 1861, bat these
were not "Greeabacks as the term is now
used but were notes e1changeable for coin or
interest bearing notes and were payable on
demand, ana were always on a par with gold.
e. Tue fret "gresnbacks or legal tenders az
they have since been known were S150.0G0,000
authorized by act OF congress. Feb. 25th. 1862.
aud were issued IN toe month Of March sue
ceeiipg Yet we are gravely told that the
second time the soldiers were paid, when the
war had been going on for the period Of about
oae year, they were paid part IN coin and part
IN greenbacks aud that the soldiers refused to
accept them AID that General Scott, who must
have been an autocrat indeed, issued an order
compelling them TO receive the greenbacks.
Now tae truth OF ths matter is that General
Scots resignation was accepted on the LIST day
or November 1851 months before the issue OF
the green5acks But this is as near the truth
IA our imitation friends generally get. We
would like TO see that rara aots, a soldier who
refused to accept all the grsenbacks that were
A.
was perfectly satisfied with the currency in
which they were paid and al sympathy mani
reotsl at this late day for the poor soldier who
WA forced to take his pay in deprecated cur
rsacy n worse than wasted.
But again il is said that such persons a.
declared that the government could never put
dowa the rebellion compared the greenbacks
TO ths continental currency. BY the way a
large portion OF that class OF persons are now
clamorous fo- az unlimited issue OF govern
meat currency without even promise to re-
deem lt
rho continental currency. like our green
backs, was promise OF the government to pay.
aud the comparison was an apt one. The
promise was to pay in spanish milled dollars
and would have been perfectly good il the
government had possessed or could have pro-
cured the dollars with which to pay them but
II could not pay and 80 the promises became
utterly worthless.
So during the war the more doubtful il be-
came whether government could redeem its
promises to paw. and the greenbacks were
mere promises, the more they deprecated In
vaIus until st one time it took nearly three
dollars OF government notes to Re worth an
actual dollar. But as the dark days passed
away and faith in the ultimate success of the
Union srmiss began to increase and the conf
dencs OF the people in the ability of our govern
mens 60 ultimately fulfill its promises began to
grow stronger tie greenbacks began to ap-
preolate- until they are now within fraction OF
ono per cent Of gold, and already tho banks Of
tue country are beginning to pay out gold over
tbsir counters. and the country is on the eve
OF resumption and prosperity. But not salts
fed vita this. certain unpuncipled politicians
and demagogues with their plausible sophistry
OF cheap money and abundant money would
ouce again plunge the country into sea OF
financial trouble. the result of which could My
be fuaucial ruin and reputation. If green
backs ISSUED by act Of congress are not honest
money whst 10 honest money! at has the
stamp of the government upon it and what
mors has gold and silver" say the National
psty. There never was a greater humbug
prss.Ited to the people than the hue and cry
rsissd ai,ou. the Stamp OF the Government"
This stamp upon our gold and silver is simply
guaranty o. its weight and fneness and moth
ing more. Upon piece OF lrredeemable paper
1t would be simply nothing. Neither any man
nor aay government can make something out
OF nothing, and the fsct tina. the government
should stamp piece OF paper and say, this
is doIlar, would not make it dollar, nor
add tarthing to its value
But they say. why we're the notes OF July,
1861 a. par with gold? Simply because they
could be redeemed in coin on presentation and
tina near approach OF like state OF things is