Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1878-11-21
The Greonbacl4crs.


The Greenbackcrs.
This organization was formed in 1874 in
the Western States, and though weak in
Snumbers, and getting little aid or countenance
from the money centres, 1t still lives and has
Increased in power and influence. It's lead
ing purpose is the repeal Of tho Resumption
a.Aot, the abolition Of the national bank system,
and the issue by the Government of legal
tender greenbaok paper money, which shall
not be redeemable in gold, but based on the
credit and faith Of the Government. Another
leading idea is tho payment Of tho bonded
indebtedness Of the country in this currency,
fand making it receivable in tho Government
fully as gold is. Gold is held to be Of no uso
except for the purpose of foreign trade, and
as the balance of trade with tho world is in
favor of this country, by several hundred
millions Of dollars, it is Of little ncod for the
purposes of foreign trade. In fact, with
stable government and money based on its
credit. it is contendod truly that this govern.
mont legal tender will soon become Of equal
value with gold in foreign countries for the
ment is strongly opposed by the bondholders,
~ho see in it moro Of loss to themselves than
3,of wrong or danger to the people or the
country. They hold immense government
securities. not subject to taxation, and bears
ing interest in gold at six and seven per cent.
Swhich cost them from thirty to forty cents on
$She dollar. Already in fifteen years they
Italave received in interest more than the cost
.of these bonds and the interest on their in
,yestments, and if the law stands as it is these
bonds will be forever sure income to them,
sand q bitter oppression to right and justice
land to the laboripg glasses Of tho Government
las we'll as to the true, interests Of the country.
Every step in the contraction of the currency.
every step towards resumption Of specie puy-
ments enriches the bondholdcrs at the ex-
apense of the people. AS the currency di.
minishes the prico Of labor and the value Of
products shrink, while the interest paid to
the bondholder remains the Same. In few
years, il it be not so already, tho people will
Become really, if not nominally. slaves to the
monied interests of tho country. All the
revenues of the Government pass through the
Treasury into the hands of these bondholders
who become monied princes with the people
ms their slaves.
The legislation of Congress for the past two
years has operated constantly to make the
rich richer and tho poor poorer. The value
$of gold has beon increased, silver was demo-
sniti2ed and tho greenback currency has beon
Il reduced more than one half in the past few
years. The effect has boon to decrease the
value Of land, TO reduce tho price of all the
9produots of the country, to paralyze oil the
/ manufacturing industries Of tho country and
10 give to money double its purchasing power
to the benefit Of the capitalist. While nll
this is true, salaries have not been reduced,
I taxes continue heavy, and tho laboring and
producing olassos are eithor out of employ
q 5srnent or realize from thor labor q scanty
fSsupport. Is net the currency too muoh cone
& straotedi The business Of tho county and the
ahrinkage in values answerit is. What need
8 have we Of o currency redeemable in gold
Gold is the standard Of value in ali civilized
countries and is a universally admitted me :
SSdium Of exchange; but to US, who have tho
balance Of trade in our favor, what need have
S ne of this medium Of exchanged Our cotton
and wheat and bacon and rice and other pro-
& &dpctions, not only answer the purpose of gold
s In foreign countries, but will bring surplus
sof gold over trade to this country. This
\ boing true, why should we not have currency
d &proportionate to our wants and interests and
3 based on the credit of the Government2 Tho
Y s<sgcenbackers favor such currency. They
favor tho purchase of bonds by its issue, until
81 d volume equal to the wants OF trade shall be
: iasied, and then rs it is returned to the Treas.
ary through tho revenues Of tho government,
SSi Sits reissue in the purchase Of other bonds,
i until the whole Indebtedness Of tho country is
& ltquidated, the currency being kept at oil
Aimos OF q volume proportonate to the wants
1 of trade. IL this wrong or unfairf 1t is
eoi,tended that such payment Of tho bonded
debt will be in violation Of the pledges of the
Esoyornn1ent and destroy our national credit,
atTo, do not 30 regard it, for the doing Of what
i III right ana fair cannot injuro. This curren-
$soy WILDE made legal tender for all pure
4 noses. for the laborer and bondholder, for the
MERCHANT and farmer, for tho officer and
( citizen. Eure We are that the Legislation OF
! tho past has been for the moned men of the
q aaountty and against the laborers and citizens.
! iii ID time the thing was changed and whether
\ tr,o plar, Of The Gseenbaokers be adopted or
L, certain it is that there can be no prospe.
{ rity in the present financial Legislation.
FS III the Greenbaekers areon one extreme, the
xs,afd moneymen are on theosherend we believe
Z shos latser to be moro dangerous than the
as lilo latter strikes at the masses in