Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-10-08
"Vhat Is a Green0acker P''

"What - a GreenbdckerP Pr
Under the above caption Mr. Murray's
GoIDEN Rule publishes well timed art
icle upon the financial question. We give
Its closing paragraphs below;
Turning now from men to principles
let US Try and learn still further what
Greenbacker is People who read only
one side of the discussion now going on
in the country have very little idea Of the
line of appeal By which the Greenback
cause Is advanced. We cut a single par
agraph from widely-circulsted agricul-
tural paper Of the southwest, an ardent
advocate Of this cause;
0The national debt is held by the rich; Il is paid
BY the poor. This widens the distance between
the two classes, as the poor 6etone poorer and
the rich richer. The debt could BE- easily wiped
out By simply issuing enough government noses
10 redeem these bonds, and keep the notes IN cir.
eulStiOn. while the country would D. tree OF DEBT,
assured. for the volume OF currency would be 40
prosperity height. But the bondholders and her
plant tools have The helm Of financial Affairs, and
Will DOS change their course"
A Greenbacker, good friends, is a man
who believes that And yet he can't be
made to change his views by abusing him,
and calling him hard names. lie needs
TO be informed Of such facts as we pre-
sented last week that whereas only 5,773
persons or corporations in this country
hold $4,000 or over Of registered govern
ment bonds, u ,S4 persons own less than
$4,000 each, and OF the former amount
the greater proportion is held by savings
banks and insurance companies for the
benefit and protection Of the industrious
and poorer classes. he should be told
that the bonds are not only not chiefly
held by the rich, but that they are not
paid BY the poor.
The government has two chief sources
of revenue customs duties and internal
revenue taxes. Will the poor man stop
and honestly think how much he pays to
the government in taxes, direct or indirect?
Can be not buy every article Of food for
his table and every shred Of clothing for
his family about as cheaply as he ever
could.-much of 1t tor less ? Internal
taxes are laid upon liquors and tobacco.
as the chief source Of revenue, with stamp
taxes on patent medicines and matches
BY RETAINING from strong drink, tobacco,
and patent nostrums the poor man will
feel "the heavy hand Of the government"
10 the extent Of about SIX cents a year
for the extra cost of matches 70 light his
FIRE.
The talk about "wiping out the debt by
simply issuing enough government notes
to redeem the bonds" We have often an
swered. But it needs TO be said over and
over again, that if you propose to pay the
notes you have gained nothing; if you
don't mean TO pay them, they will be
worth nothing; and that one promise
bearing interest and due at a specified
time, can't be redeemed" By another
promise bearing no interest and due never,
without somebody's being swindled by the
operation.
But 1t is desire for - volume of cur
rency at prosperity height that most dis
tinotiyely marks the Greenbacker. On
this ground We can find agreement; and
instead Of denouncing those who hold these
views, We prefer rather to agree with them.
Prosperity height Of course means
when there Is money enough for all the
needs Of business, and when everybody
who can make it pay to employ money
can get what they want on good security
when the wheels are all going round
and the brains and fingers are all at work,
and confidence reigns. That is good
times.
We propose to our greenback friends 70
secure such a volume Of currency, and
put everything at prosperity height" by
making our greenbacks as good as gold,
and our gold no better than our notes, and
our silver as good as either. Rub out
the fractional premium that makes it pay
to hoard gold,-make the specie money,
instead Of an article Ct commerce,-have
every paper note redeemable IN gold and
hence as good as gold, and think what
q volume of currency" We should have
Who would care then whether customs
and bonds were paid In paper or gold ?
What would it matter that We didn't 6a,e
another three hundred millions IF green
backs. In violation Of law and the nations
pledge With the gold unlocked we should
have money enough. And then-haPPy
thought there would be no currency
issue land nobody would care 70 ask, What
is Greenbacker %