The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-08-15
Honest Money.


preparation to resume specie payment
is, in my opinion, the first great duty of the
Government. ''-Olivcr P. Morton.
81 will pay cash or nothing. While I live
Twill never resort to irredeemable paper"
Napoleon Bonaparte.
'Capital may be produced by industry,
and accumulated by economy but jugglers
only will propose to create it by legerde
main tricks with paper. ''--Thomas Jeffer-
son.
81 am not content with the long postpone
ment of specie payment; believe the time
has come for this blessing, and l begin to
be impatient when see how easily people
find excuses for not accepting it''-Charles
Sumner.
s'There never was nor ever could be use
for any other kind (than rcdeemable curren-
cyl, except for spectators and gamblers in
stock and this to the utter ruin of the la
Dor and morals of the country. A specie
currency gives life and action to the pro-
ducing classes, on which it is foun ded."-
Andrew jackson.
''rhe Secretary recommends no mere
paper money schemes; but,on the contrary,
series of measures looking to a safe grad
ual return to gold and silver as the only per-
maEent basis, standard and measure OF
value recognized in the Constitution. y
Salmon P. Chase, annual Report as Secreta-
ry the Treasury.
ga return to specie payments at the ear
Hest period compatible with regard to all
interests concerned should eyer be kept in
view. Fluctuations in the value of curren-
cy are always injurious, and to reduce these
fluctuations to the lowest possible point will
always be leading purpose in wise legsla-
ton. ''Conyertibility, prompt and certain
convertibility INTO coin is acknowledged to
be the best and surest safe guard against
them. Abraham Lincoln, annual Mes.
sage. December 1862.
among the evils growing out of the re.
bellion is that of an irredeemable currency
1t is an evil which hope will receive your
most earnest attention. 1t is a duty. and
one of the highest duties, of the Govern
ment to secure to its citizens medium Of
exchange of fixed and unvarying Value
This implies return to specie payment
and no substitute for it can be devised. ~
S. Grant, First Annual Message.
1.-THE evils of redundant circulation are
now manifest to every eye. 1t alternately
raises and sinks the value of every man s
property. 1t makes beggar OF the man
to morrow who is INDUCING in the dreams
of wealth to-day. 1t converts the business
of society into mere lottery while those
who distribute the prizes are wholly ire
sponsible to the people. When the collapse
comes, as come it must, it casts laborers oul
of employment, cru shes manufactures and
merchants, and ruins thousands of honest
and industrious citizens. James Buchan-
an, Debates in Congress, volume IA, Part
1887, page sc. b
.sOf all the contrivances for cheating the
laboring classes of mankind none has been
more effectual than that which deludes them
with paper money. 1t is the most effectual
of inventions for fertilizing the rich man. IS
field by the sweat of the poor mans brow.
Ordinary tyranny, oppressive, excessive
taxation bear lightly on the masses OF COM
munity compared with fraudulent currencies
and the robberies committed by deprecated
paper money. We have suffered more from
this cause than from any other cause or ca
lamity. 1t has Killed more men, pervaded
and corrupted the choicest interests of our
country more. and done more injustice than
even the arms and articles Of our enemies. .
Daniel Webster.-Ne1c Repu6Ic