Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1878-10-03

were the most prosperous people in the
world and we propose to be so again.
loud applause.1 The Democratic party
says you shall not get any worse, but we
say you shall get well. [Applause.l In
order TO cure you we must have remedy;
if we have it not we are charlatans. Our
remedy is found in the policy and princl-
pies of the Greenback platform which is
founded on justice and right.
What is money? Cernuschl, the great
est Philosopher of modern times in the
world; born in Italy, Driven out during
the revolution IN 1913, he went to France,
where he became banker, and has at
length retired to make the financial poll
cies of the world study, says money is a
value created by law to be scale Of valu-
ation and a legal tender of payments.
Money consists of three elements--a value
created by law, Il standard Of valuation,
and a legal tender for payments, and 1t
makes no difference to what article these
qualifications are applied--whether pa
per or metal. The Greenback policy pro-
poses to give you Il circu u.atiDg medium
which will be stable and not liable to
fluctuations.
Surprising that $2,OOO,OOO,00O should
be placed in circulation and paper money
entirely wiped out Of existence in this
country, what would be the result? The
price OF gold would depreciate and the
price of other articles would appreciate.
| want everybody to understand this mon
ey question from bottom to top, so that
they will remain steadfast to the party
till its ultimate success in 1880. Nature
supplies us with gold and silver. A dol
rar is merely an imaginary idea, it is
simply representative. If you demone-
tie gold and silver entirely it will be
worthless, except for use in mechanics and
arts. If all the powers OF the civilized
world should agree to do away with gold
and silver as money and stamped paper
be substituted in their places, the metals
would be almost worthless. Did you ever
stop to think why a gold dollar is worth
100 cents! 1t is not because Of the intrin-
sic value Of the metal, but simply because
the civilized governments of the earth
have agreed that it shall be representa-
tive Of value. 1t is estimated that there
are about $4,000, 600, 900 worth of gold IN
the country, 800, 900 OF which is used
in the arts and in the manufacture OF Jew
clry, watch cases, etc on IN make 1t
more plain, the ratio is as one 10 thirty,
Now if its money valuation was swept
away, according to Cgrnus-ui. gold would
be worth, ntriu-icallv only q ti,lr mo.e
than copper Gold and silver even as
money tiucuates according 10 the supply.
Nature Is blind, and the quantity she fur
,ui.hes ], not regulated by any fixed laws.
some lo'n or some mountain mine. not
yot 4 covered. may yet be found which
wrI, furnish an ineXhaustibe and super
abundant supply of it, in that case the
price will 90 down. although that which
coined will remain the same, simply be-
cause it is coined.
Paper money is just as good as gold up
to the amount required to do business
with: after that every additional dollar
will be redundancy. How much curTen-
cy is needed in this country can be got at
by comparing ourselves with England or
France England uses $500, O,OOO,OOO and
France $1,000 900. Now, this coun-
try is twenty times as large as France;
hence we will need twenty times as much
as she does. One dollar in England or
France performs the functions of fifty dol
lars here, owing to the difference. in the
size oi the countries and the distances
from one city to another
In 1866 as said before, the amount of
currency in ncirculation was 81, 800, 100000.
In 1863 there was a contraction of three to
our millions, but we didn't mind that,
we went right along doing business. By
| 1873 the contraction amounted to $780,
100000. People will tell you that every
! thing progressed even then, although a
crash came afterward. This is easily ex-
planned. As the contraction Of currency
increased credit expanded until it could
expand no more and then. like bubble
it burst. First one extensive establish
mcnt failed, dragging down to rain nu-
merOus Others and the crash kept on and
on until financial ruin stared the whole
country IN the face. This was the result
of the contraction policy and the rcsump-
tion policy only aided it in its fatal effects
Applause.
They tell us that when we have accom-
plished our purpose that greenbacks will
not be worth anything. How was it in
1866? Couldn't you buy what you want
ed? Was there single enforced tramp
in the country? Were there any mills or
furnaces closed? Prolonged applause.
And vet they pretend to tell us that
grrubucks viii not be worth anything,
In addition we shall save TO the country
nearly Slul 600 600 of interest sapped from
the vitality 0i the country annually. Jap
pIau-pI
There are other points upon which
would like % speak hut 1t Is getting late,
and do not WIS., To- weary either your
selves or myself, so | vii. close. Great