The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-04-18
rTIIl oREENBAoK EQUAL 10 GOLD.

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have concluded to recommend that
Greenbacks be received after July Ist
for duties on imports, the same as gold.
This is just what should have been done
long years ago, and what we have said
in the DEMOCRAT repeatedly.
An honest administration of Inc gov
ernment will always treat its own ours
rency as at par, and not discredit it, and
thereby depreciate it. 1t was the Cow
ernment itself that deprecated its own
greenback issues by the discrimination
made in favor of gold, This was the
great iniquity. and opened the way for
gold gambling, the government taking
hand, and playing it most infamously
during the plundering Grant Admins
tration.
The United States Gov ernment has
been in the hands for years of the mons
eyed power, in one way or another. Old
Solomon says the borrower is slave to
the lender; and it is as true as to Cow
ernments as individuals. The gov>
ernment Of free people should not thus
be situated, and never need be. Saga.
cious, prudent, careful administration of
public affairs avoids foolish and useless
wars; avoids public debt; avoids the
rule of knavery and wrong and calami>
ties innumerable, and Of far reaching
evil consequences.
We were led to these remarks by the
claptrap hurrah heralded over the
country, announcing Secretary Shers
mans wonderful success with the New
York Syndicate, in arranging for loan
of fifty millions in gold to enable him to
resume next January. Itseems the syn
dicate agree to take al per cent United
States bonds to the amount of ten mil.
lions, having the option to take forty
millions more between this and the first
Of January, which they will probably do,
as four per cents are now fraction over
par, and four and a halls quoted at Io3.
With the fifty millions in gold secured
in this way, and the seventy millions he
hopes to have on hand, Sherman will
commence the work, unless interfered
with by Congress.
This is not an achievement, surely, to
make fuss about, for it amounts to just
this, namely, the interest paying debt is
increased, and the non interest paying
debt (greenbacks) is reduced. On Sat.
urday last gleenbacks in New York were
only one quarter Of one per cent dis
count from gold. This is substantially
par. No doubt the action of the Senate
committee on Finance, in agreeing on a
substitute for the repeal of the resump-
ton law, will soon wipe out this one
fourth of one per cent of a margin. The
new plan proposes
1; Greenhacks to be received at par
for custom duties.
2. The four per cent bonds to be exN
changed for greenbacks at par.
8. The withdrawal of greenbacks on
the issue of National bank notes to cease
and all greenbacks received in the treas
ury to be paid out at par with gold. No
more greenbacks to be cancelled.
Democrats have always maintained
that government promises to pay, ,(green-
backs) should be treated by the govern
ment in all respects the equal Of gold
that there was no excuse for the Govern
ment forcing upon its people deprecia-
ted currency. The country has been
and are still, the fearful con-
of the disturbance of values
caused by this bad monetary manage
ment. Good government consists in
protecting all citizens in their rights of
person and property, not disturbing val
Ies or interfering with natural business
and exacting taxation as
little as possible from the people.