The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1878-08-20

your blackguardism against the steady
/. confidence reposed ia these banks by
, l25. .OO0. 900 people, ,-one-eighth Of all
mankind, and the most intelligent, in
dnstrious, and enterprising races, too?
II. III these specie bottomed banks,
some Of them established for ages, had
been 'frands, cheats. aud swindles on
the producing classes" all the time,
would not production have been stop
ped and those countries all have grown
poor instead of rich?
72. When You refer tO France as be-
ing whipped 10y Germany. and issuing
II, 900, 900, 900 of greenbacks to set her
people at work to earn money to pay
for the whipping, don't you know this
10 be false?
73. Don't you know that France is
sued no greenbacks at all,-not "A dol.
lar of government paper currency?
"A. Don't yOn know that she authoriz-
ed the bank Of France, a private corpor-
alton, TO issue notes beyond her imme-
diate ability TO redeem?
70. Don't you know that these notes
we're so near par value that Germany
took 500. 900 Of them without any
| discount?
times of the war they never sank below
9S cents on the dollar?
n. Don't you know that the French
government issued proposals for
/ popular loan at 4 per cent interest?
7S. Don't you know that the people
rushed in such numbers 10 secure this
loan that thirteen times as much was
subscribed as the government needed? !
10. Don't you know that the French |
are nation of bondholders to-day?
so. Don't you know that they are |
nation of "coupon-clippers." one man
in every five owning government bonds
and playing the "Shylock" and the |
'old pinching cuss' on the peoples
earnings?
81. Don't you know that the interest |
which France pays on money absorbs |
n large part OF her annual taxes?
SO. Don't You know that the country /
has been free from the irredeemable |
paper nuisance since the assignant |
fiat" foolishness and ruin in 1894?
SO. Don't you know that the doctrine /
you preach would be regarded AS the /
widest lunacy and the most dangerous |
communism in France to day?
81. Don't You know, finally. that the |
prosperity and stability of France are |
a standing rebuke to your irredeema-
ble currency theories?
IS. How do you make il out that the |
circulating medium OF the United |
States was $50 per head for all people |
in 1865?
Sc. Don't you include the 7-30 bond. |
due in three years; the compound.in- /
terest notes. due in the same time; the /
five per cent. notes, due in one or two !
years; the certificates Of Indebtedness, /
due IN one year; and the temporary /
loan certificates, due in ten days notice, /
all bearing interest higher than the /
Government now pays, aud all requir- /
ed by law to be funded and redeemed |
long ago?
81. Don't you know these various I
classes Of short-time bonds we're
OF no denomination less than $40. and /
a vast majority of them above $50, so
that they circulated very little among
the people?
IS. Don't you know that the interest /
daily accumUlating on these Govern
ment securities caused them 10 be I
boarded, like good notes aud mort /
cages, and took them out Of circula- /
ton?
50. Don't you know that Johnson's /
cyclopedia. vol. j., page 1925, in its ar
ticle on "The Currency" written by |
Alex. Delmar, chief OF the bureau Of /
statistics, says the total circulation Of 4
the United states per capita in 1865 was /
S24 90, or less than half what you state |
il TO be?
80. Don't you know that the currency
-, - g.. Ia
same cylopedia, the American almanac |
aud the treasury reports, was about Sl9 |
per head or 81 per head more than you I
stated in your speech at Ypsilanti?
81. Don'tyou know that the purchas-
ing power OF the greepback dollar has /
increased from 20 TO 993 cents since |
1865, thus enabling the $40 per head |
TO do more business, when required, /
than S24 80 world do in 1865?
80. Don't you see that the circula-
tion has not been practically reduced
but increased in purchasing power
since 1866?
80. Is not this proved by the prevail
ing low rates OF interest for money?
81. II ii was scarcer than in 1865,
would not interest be higher?
95. In charging the present financial
distress upon contraction, don't you
know that all these short-time bonds,
which ou reckon as circulation in 1866
were taken up according to law by the
year 1868, whereas the panic did not oc-
cur until 1873?
90. IL contraction caused the panic,
how could the business community
stand the squeeze for FIVE years with
out breaking?
96. Don't you know that in 1872
four years after this contraction had
ceased-the country was outwardly
more prosperous than had ever been
known?
9s. Don't you know that from 1869
20 1873, inclusive, there were %, 900
Of railroad built in the United States,
more than treble the number of miles
built in any preceding five years, not
withstanding the currency contraction /
had done all the harm it could do?
90. Don't you know that the enorm-
Gus sinking OF labor aud wealth in rail-
roads which did not pay. together with 1
the incredible waste, debt aud suffer /
ing from the rebellion, were the causes
OF the financial depression?
100. Don't you know that there |
would surely have been panic, sooner |
or later, and that there always will be /
panics when men over-trade, over-spec- |
ulate, aud overstrsin themselves in |
| business, or when nations play with |
swords and FIRE at the game called |
"war2"
l0l. Can such evils be laid Justly at |
the door OF the administration, aud are
the moneyed classes (who have lost |
much Of their capital they put in) TO be
/ hornded 10 death and denounced in
yoar classic style as a ''crew of old
cusses, 'pinching Shylocks, rob
bers OF the people" tools aud pimps
OF corporations, and cancers on the
body politic?"
l02. Do you regard this as the best
and quickest way to get some more
capital out OF these moneyed classes7
l03. Do You suppose that men OF
property enjoy being abused, lied
about, and threatened, by wandering
blackguards like yourself, and il is
their style TO be scared out Of their
rights in this country
l0l Did you not at Ypsilanti paw
the following generous tribute (the
only generous thing 30 be found in your
whole speech) 10 the lamented Presi-
dent Lincoln: believe that Abraham
Lincoln was the greatest man IN human
history, and ss the ages wear away, un-
shackled and regenerated humanity
n - - 4