Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1878-08-31

rom lS6J to 1919. Grant was twice clrc-
ed by their aid. The radical party had the
81, 900 offices. issued and sold bonds.
irew their pay. and taxed the people.
That. believe, is all we have to show
or the ruin of the country. Ii the radi-
al leaders did one thing during this
line, except run their party machine,
il has escaped the historian. If. by any |
act oi theirs, they touched any interest
Df the people with Il vItaliZing power,
when was ii and what was il? From |
1876 to 1917 their policy expelled 5000 |
DOC, 600 OF coin from the luited States. |
During that period we coined at our
mints $4,000, 900 of gold and silver. or
we should have been nationally bauk |
rupt long ago. II the radicals had given
to the interests Of the country one halt
the effort they gave TO upholding their
party, we could have had
500, ,O00,O0O OF FOREIGN TRADE
annually in our favor, and payable 10 Us
in coin long since.
The speaker here mentioned the act
OF 1869 making the currency bonds OF
the United States coin bonds and the act
OF 1873 demonetIzlng silver, and asked
when the radicals had ever shown an
interest in the people. He said the re-
sumption act of January, 1919, WAS an
other instance of their incOmpctency as
iinanciers. Resumption cannot take
place at the time set. That will require
four years preparation. In order to re-
sumo specie payment. two hundred mil
lions must be raised by the safe of bonds
and the surplus revenue for four years
must be saved and added to the two
hundred millions. SO incompetent are
the radical tinanciers that. at this day,
within five months OF the day fixed tor
resumption. the whole plan is an abor
ton. Secretary Sherman, in his report
December /, 1877. admits that it is an
abortion. He admits that he has only
sc, 100000 OF coin to resume with, but
ridiculouSly asserts that he can resume
specie payment with that. He was called
before a committee OF congress and queS-
toned rs to how he could resume with
SO small sum. He said substantially
that he would pay Il few demands in coin :;
that aiterward he did not think anv one
would want coin, but if any one did, he
would not get it from him. and he con
! Sidercd that would be resumption oi
| specie payments Roars OF laughter.
/ He knew he could begin to pay,and il hc
! broke down itwould be the fault OF those
who printed too many bills. Roars OF
| laughter. And So, gentlemen. MEAS
ure to which these iinancicrs had com.
mttcd themselves with every so!emnity,
which they promulgated rs 4 mark o
StatcSmanlikc forecast, which they took
tour Years To provide Tor, which they re
put IN execution, turns out to be per
feet, absolute abortion. Now, if the rad
ical leaders did not know the treasury
was III no condition to resume spcci,
payments, they are incompetent. /
they did know it. they deceived the peO
pie, and they are unfit to administer The
government.
There are other reasons why thes,
/ gentlemen should be removed from fur
thcr connection with public affairs. Fu,
the first time in the history of this na
ton powerful suspicion has attache,
to the very highest executive officers
that
GIFTS OF MONEY
or property have controlled the admins
tration. He commented on the fac
house worth $40. 900 and was numina
ted rs secretary OF the treasury. Borl'
gave him Il house and was made sccre
tary OF the navy. lioar gave him Il Ii
brarv and soon became attorney gcner
al; that Belknap and RUbcson and WI.
lams members of the present pul!tl
cal family. all committed crimes III the
shape OF frauds or pcculations upon III,
public; that Babcock. the private sec
retary. was indicted rs Il member of til,
wLskey ring and acquitted, but gcner
ally believed guilty; that none Ui theS'
men lost the favor oi the president
Leaving the political household OF ,h'
president and passing into the halls q
congress and thence into the genera! al
ministration, you found everywhere the
same prevailing corruption. The nav
ring, the New York cuStom-house ring
the District OF Columbia ring. the lobb,
ring. He charged the two administration
Just past from lSGS to 1876. to be tn
most corrupt ever seen III this coun
try. OF this present administration II,
would only say that nothing it can d.
would atone for the crime of its lnduc
tion. Mr.. Hayes may not have know
tii at Int lltllc VI HIS vi SillSi. bNA
he knows 1t now and could vindicatc tn
purity of our institutions by reslgnln:
an office to which he knows now h
was not elected. 1t was remarkabi
that all the instruments OF the frau,
have received appointments from Mr.
Hayes.
WORD OR TWO ABOUT MONEY.
Money IS value. a measure of valu
and medium of exchange. 1t may con
sist of coias of precious metals, value c
themselves. In common speech it ma
, consist of paper promises issued by put
lie authority to pay value. The latter
now almost the only money OF this coul
, try. The radical politicians have eN
ported from the country since the clos
of the war $500. 900. 900 OF gold and 81
YER This drain has enforced the neces
, sity of continuing the paper system base
on the credit of the government. Nhc
money best answers the purpose of il
creation, It's quantity is just equal to th
demands OF business. Ii the circulatio
I of money consisting OF precious metal
exceeds the demands of business, tn
excess is exported. If the circulation {
paper money exceeds the demands {
business. it depreciatcs. Paper none
5 never leaves the government that issue
, 1t. 1t cannot 90 abroad. and il issued
I excess Of nemand, it depreciates. II
, Missouri democratic platform Is righ
. No more grcenbackS should be issue
3 than are sufficient 20 supply the necc'
:. sary demands of business. There II
!, persons who want an unlimited issue
= legal tender paper. This Is an erro
- You may issue so much that none ot
r will circulate at par. The moment tt
4 issue is in excess of business demand
: it depreciatcs. In 1864 we had 81 100
: 900 900 of paper circulation. and it d.
preciatcd lS5 per cent. None of yo
want to see deprecated paper circuatic
again. a deprecated paper crculatic
is never steady. No one can rely upc
). it. No one can tell what he gets t,
q anything he sells, nor what hc has
G pay for anything he buys Nothing
= more rulnous than the idea that Il
$ greater the issues OF legal tender pap,
the better. tell those democrats wi
y want unlimited issues of greenback
l. that no platform is more favorable
Il them than the democratic platform.
l. proposes to limit such issues by the d
q mands of business. Certainly no OF
Il wants any more than there is 4 demai
II for. than there is use for. Should mo
II be issued, the quantity is increased, b
lie nothing is added to the aggregate valu
7 You can therefore gain nothing VIII.
Is ever by issuing one dollar OF pap