The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-09-24

NJ l. AfAouuNs slar 4.Y.H .Ha. aIIH.HH 10
whit pay the poor men otthis copntr!!
to.tlrn back. now that We have virtual!
reached specie resumption, and oyeFcon,
all difficulties and endured oil losses tha
resumption can ihyolye2 This : pre-
euinently q poor mans question: There
at least, the Greenback men are rightt1I
resumption is bad, it Is bad mainly for tn,
poor, and especially the laboring man, ]
il is good, il is to him more beneficial thai
to anybody else. For menIof capital o
trade, Of credit, or 81 fixed incomes VS.
checks and credits largely and notes bu
little; they buy largely at wholesale, au'
have less cause TO cure Wien retail price
ard suddenly showed upward 'becatsc III
purchasing power Of the currency has di
niinished.l But the poor men, who carr!
in their pockets the great proportion .
circulating notes; who have no, baHk, fate
counts, or use few checksi who live upor
daily orweekly wages and buy mainlyia
retail to them every change in The VALUE
o ftthe dollar means serious gain or los
Can these people afford; now that resump'
ton is here, to turn back again. over the
weary road trodden since the war? ~ 10
About S50,oOO,OO0 Of paper notes are II
active circulation, mainly in the pockets
81 the poor Every dollar that The, pop
man nov holds Is worth 0yi ceptsin gold.
Il matters not 10 him whether the noto Il
from lie United States ltsBlf, or from q
bank secured By deposit Of United States
bonds, IN either case Il Is virtually the
same today, to the poor man or laboring
nIan Who holds II, as tho gold which the
note promises to pay In small ttransae-
lions, The difference Ii insigniGelnt5Sso
small that II can neither be measured nor
exacted. lie can pay any debt with his
dollar al well d swith gold, and,to' the full
satisfaction Of Q creditor He eanbuy Just
as much With i Us With gold In the retail
purchases which constitute nearly all the
dealings ~ the poor and the laboring
classes. 50 one charges him more for
meat or bread, sugar or tobacco, clothes or
house rent, ifho pays paper dollar, than
would 10 charged II he paid gold dollars.
For all the uses Of the %age;earner, paper
dollars paidto him on Saturday are as good
ds gold dollars, and would be preferred by
most because more convenient q, carry.
To The poor man, resumption has virtually
COME already prices have generally fallen
to the specie level, and the notes are as
good in his hands as the sold itself,
But the Gteenkatk asttator proposes TO
rob tho poor, man BY making his dollars
less valuable. he proposes % make every
dollar III the poor man pocket worth less
than gold, and bow much less no man can
saw Les In the bargain for rents; less 10
the purchase OF clothes; less in the buying
n ANYTHING at tic store ormatket. Every
intelligent man knows that alarge increase
Of he issue Of notes must, causethem 70
fall Il. value. "IiSmith has given butone
nOfe to q creditor, and that a note far With
N his Known means OF payment, men
INV take il as eood.. If BIZ begins, TO food
the street with notes they grow less in
Value, until at last nobody VIII take them.
Soil is with o government, as with any in
llyidual; the more PROMISES to payit hasogt
the less those premises ate held worth.
BY Issuing more greehbacks It y openly
proposed | o make greenbacks cheaper and
win rob the, poor man who holds
them. Tic baker will want 'ttwar prices"
for hts bread again, the butcher for his
meat, ami The Clothes now botight fors3
Of s Viii cost onlce, more Sl0'or S220,as they
did not many wears ago. Retail prices a.
Ways iirunp Upwards swiftly which there Is
The least excuse. The workingmen, who
their pockets the greater part Of
de Sj00,0O0,OO0, in Notes Outstanding, win
not only lose by The Differentiation Of those
notes By,beihg unable to buy as much
with them bot will lose Tar more because
wages never advance IS quickly. Or as far,
aid can never by any, combinations,
or unions, be made toadSance ~
Gufckly or as far, as the retail prices Of the
tnarkets and the shops, For months, Il
The dollar Silks In purchasing power. the
ware.caTnino claAS" will lose the whole dit.
ference, and for years they must lose q
part, OF the difference. .,..T =,
I BIt the professional poor mans friend
wilf sav'tkat the ercater issue Of green
backs will make it easier t6get greenbacks.
Not by labor; the. wages viii not rise q
inuch, as the cost Of living, nor as soon
Neither will Il be easier forthe poor man
Il tet motley by borrowing. He can Dor
row But little at any time; it Is the specu-
lator 81 trader Who will find it more easy
10 borrow when initiation ispushihg prices
Upward. Hence "the poor mans friend
4 usually either a politician out Of Office
or 4 %speculator Who Il On the ragged edge
az bankruptcy, and wants q chance to Dor.
row more. / II any poor man has any real
collateral or property 70 pledge as security,
he can borrow now all that his security
will cover. Lenders are hunting for good
loans. banks are'choked with idle money,
because the men wiro-cm give satisfactory
security do not want TO borrow more, and
the ~lnnkrupts and speculators and conf.
denGe:men who want to borrow can give
safe collateral for q loan. Does any
Moor mar fancy that the issue 6fI more
rrecubucks will make those who have mon.
ready 10 lend il without security II
"a, Ilheit Is csrcgiOuSlS mistaken. Without
the'rcal value 10 pledge Is security, a man
could borrow not dollar more, II the 'tur.
rency in circulation a%mountedto sl0OO,09oi!
900, or S5,0O0;O00, 000,, than he can borrow
now. al sHI4''sE' ~ I:5
wants to strip the poor man OF parttof thu
value OF hisAollar. That is the beginning
and the end Of the GrcenbAck movement,
torthe cost will fall heavily and almost
wholly upon the poor and laboring classes,
while the only benefit will be gained by
sneculators and bankrupts. The poor man
il the YER one of all men who can no at.
ford to make the dollar which he hold:
and uses worth less than the gold it prom
iscs. It's Us good as gold to him to-day.
II he knows his own interest, he will take
care 10 keep the dollar as good as gold.
NIFUlrf -N ItF LlAnIl ~ t's"'
,GJ i!.u1 -TnI1 IN IIl IHfg, 2N "
~, s,,isaa The New stove rrurg-tI q
natroIt Free Pres, lyl