The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1878-10-10

p1 liz SIooHUdChS. In peace 1t cannot
All the greenbacks printed since the
war closed have been simply exchaug-
ed for greenbacks printed during the
war. They are only new notes for
the old debt. They have been printed
and given out only because the Gov
Iernment has been unable or unwilling
to pay them off. The Resumption
Act means, or ought to mean that af-
ter the first of next January the Gov
eminent will, in fact as we'll as in
name, pay it's debt. 1t means that any
citizen who prefers coin dollar shall
have the right to demand that the
coin dollar from the Government in
exchange or payment of the green
back dollar. 1t means the final full
flllment by the Government of the
promise printed on the face of every
greenback.
So come back to the simple propo-
sition with which [ began, that coin,
gold and silver coin. is the only abso-
lutte money known to the Constitution
in time of peace.
The Nation has deliberately pledged
its faith to redeem the greenbacks in
coin on and after the 1st of January
next.
After the Presidential election of
1868, Congress passed a joint resolution
promising to pay greenbacks and
bonds alike III coin, as soon as the
Government should be able so to do.
In 1875 Congress passed what is
known as
Is e. THE RESUMPTION ACT.
Every greenback, every bank note
which is redeemable in a greenback,
and every bond that has been given OF
received since 1868 has passed from
hand to hand on the faith of the SOL
emn pledge Of the Government so
made in 1868. Every greenback, bank
note or bond which has changed hands
since 1875 has passed from hand to
hand on the faith of that second solemn
pledge of the Government so made in
1875. We have given our word to
billholders and bondholders alike. We
have said that the bill which the
WOrkingman receives shall be redeem
ed in the same coin which is promised
to the bondholder. We can not break
this promise without being guilty of
the worst of falsehoOds-a falsehood to
labor and the laboring interests of the
country. The advocates of an ire
deemable greenback are the worst enc
mics to labor and laboring men. Their
plea is a plea for national dishonor,
and they justify themselves by pretend
ing that they make this plea in behalf
of workingmen. The result Of their
effort is to lessen the value ofeach dol
lar which labor earns. They thus rob
labor of it's just reward. It is very
strange that men who work all day to
earn wages should lend themselves to
an effort to make their wages payable
in poorer money.
The Nation is now absolutely able
to keep the pledge which it made in
1868, and renewed in 1875.
First-There is All abundance Of coin
in the National Treasury to redeem ev-i
cry greenback that will be presented. 4
Second--With such economy as the
Nation can practice and ought to exer-
else, the income of the Government is
greater than the expenditures of the
The Government has
therefore steadily accumulated means
for the final payment Of it's debt.
Third-The refunding of the Nation
al debt constantly reduces the rate Of
interest and the amount Of interest
which the Government has to pay. We
are paying off our six per cent. bonds
by the sale of four per cents. AS long
as we keep every promise faithfully, |
honestly and absolutely weshal1 main
tain our credit, and the people will be
glad to take and hold our four-p percent.
bonds. When man begins to break
his promises in business, he loses his
credit. Credit is only another name
for the belief which you have in the |
honesty and ability OF your neighbor.
When your neighbor by falsehood and |
bad conduct destroys your faith in
him, you stop trusting him. Then his