New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1878-10-02

0smpIoyed laboreTs TO 1Eassa-
10000 10 Boston alone, A re-
vasg OF Massachusetts shows
bOO in all the State, of both sexes,
rms in June before the starting
nils now running. Massachu-
Of course, o larger proportion of
ed persons than any State out Of
and. because artificial indus
distinguished from agriculture
nv labor, greatly predominant
are the industries most Grip
But apply the Massachusetts,
ery State, and the number of
all the land unemployed can
one-tenth of three millions.
we must not suppose that every
work, is and has been: unable
4. There is one class of men
farmers and others throughout
" who are all not out of employ
Iuse work and wages cannot be
ii count all, and the picture has
.painted. The truth is bad
ID sad enough: business is de-
nal honest, honorable labor is
Can these evils be cured by
scts as now urged upon us ?
,uestion to be considered with
md it may be discussed without
(, and without suspecting the
Il those who hold other views.
Ne should have new and large
aper currency. What for? Is
lev piled up in every bank and
ntre and depository Cannot
borrowed in millions at the
es of interest? When all the
coin in the country is put into
ulation, will there not be album
ncy5
be Folly of Imitation.
ace, stability, and assurance,
Is and values will not be TAM
will unlock capital and put
circulation, and there, if may
is the first good which it win
orking man; but schemes for
I. The currency and shrinking its
y power, and thus changing
ind transactions, will frighten
"a make it hide; and there is
harm which will be done the
y ban. It has been well said that
! owardly thing is a million dol
!, Il two million.
4, to be done with q new issue of
y Is to be paid, We are told, to
rs. What are they to do with
4, they give it away? They will
NJ loan it. What good will that
put into circulation, 1t will
depreciate the whole cur
ia put up prices for the poor to
~ the wages of labor will not
y st enough to keep up with the
Il prices of food and commodities.
's' ers with security can borrow
Apest rates of interest now
4 tbey can do after more green
Il, Issued. But to pay off bonds
N currency will stop so much
Yes, but what stands in the
Ia can be bought too dear. In
~ place, to pay of the national
paper promises would be fiat
b. Why? The bonds them
- years have said on their face,
f, nd resolutions in every solemn
GIFTED faith have said, that the
III Md be paid in honest hard
~ not in paper. Savings banks
~ panies, and individuals have
y, sse bonds for widows and or
I'd soldiers on this plighted faith.
~ are not held by the rich; most
held by or for those who are
. Again, the Government, and
ve an people in Congress assem-
,io when they asked money for
Wv more than $500, 900, 600 of
rs never should be outstanding.
I'M say the bonds should never
n legal tender notes. This pledge
4? e money, and there it stands,
o7 in honor or repudiated in dis
/? lt this is not all. The Consti-
lid xpounded by the highest court,
Of ny Democratic Judge in the
al not warrant such proceeding,
d or notes were pronounced valid
th 4 to borrow money in time of
/. N on war, under the provisions
,2S stitution ordaining power for
e ses, and only for such pur-
l5 w no war exists-peace pre-
los everal provisions Of the Con-
ccd allenge such scheme. What
ne b for striking at the bonds OF
o States, or at those who hold
a T. Lincoln said, and we all
AIRING the war, that those who
he1 pnds and gave their money TO
0, I'D our soldiers were second in
bdonly to the soldiers themselves.
stsH i objection now seems to be
ps ads are not taxed. In the first
.inaTere and are taxed, and taxed
goA advance. The man who pays
tu1 for q bond bearing only four
lGrest, and thus loans has money
mE anths, or only q fraction more
gal and usual interest in this
ion for the exemption from fur
in advance, and pays pretty
lepft. Every year he gets four
Of Nhe loan of one hundred dol
and loaned on bond and mort
zap neighbor he would get seven
fou certainly six dollars, and per-
he hid be taxed on the bond and
!. 81 md perhaps he would not be
q ec bonn the beginning, exemption
the on entered into the rate Of
,26a and the prices received for
ear xation was adjusted and dis
its the transaction. So that in
Th Id result, every bond, without
ICY escape, was aud is taxed.
er CT differently now, wo1ld be
I'd contract, just as much as to
l cent in whole or in part. But
per States should be allowed to
nts' ) Of the United States. This
ne ets with several obstacles.
in h Of one. Our fathers put
ord Constitution that such bonds
y be taxed by the States. So
in court said when the ques-
r w lose, before most Of us were
tael the court has said ever since.
ldi1 e Constitution, the acts of
pen he exemption from taxation