Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1878-10-10
inflammation Is Reduction, Not an In
crease Of Money.

inflammation Is Reduction, Not an In
crease OF Money.
The working classes OF this coun-
try have doubtless felt the pressure
OF hard times. But haad times in
America must be traced to the rebel
lion of the Southern States; for. had
there been no rebellion the financial
distress here would have been much
mitigated from our abundant har-
vests. But the crime of the Southern
rebellion has made the workingman
Of the North and his family suffer;
and whenever he looks at his poverty,
he must never forget that to a great
extent the solid Democratic South is
largely responsible for it. The re-
bellion caused the necessity for the
issue Of greenbacks and tie disap-
pearance OF gold and silver. The re-
bellion disturbed values, caused high
taxation, and raised prices, Without
adequately increasing the mechanics
wages. Every dollar of paper he re-
ceived while there was premium on
gold, had less purchasiaQueewer than
a gold dollar, while the absehce from
circulation OF the precious metals in
creased the cost OF living and every
xh;or. tho v..rl-;n.,,ou xorohaca1
Aud it would have been worse for
him, il ii had not been for the integ
risy OF the Republican party. The
leaders OF the Democracy sympathi-
zed with the rebellion, and in tneir
recklessness they would have broken
down The credit OF the country. But
Republican statesmen were true TO
their guiding principles, and now
light is breaking. and he greenback
is practically on a par with gold, and
gold and silver and greenia cks and
bank notes will shortly be the circu-
lating medium of the people.
The great demand OF the people to-
day is for more money. They feel
the need of more money, and they
would wish to obtain it. But the
American workingman is thinker,
and he would not willingly iniure
himself or the country in making his
demand. He must therefore think
well how his demand would operate
il complied with; for, although the
Government has the power of
emitting paper money, it knows it
must be redeemed some day. Re-
publican statesmen knew this when
the first greenback was issued, and
they interposed limit to- the amount,
beyond which the country is pledged
not To go. But were the people 10
press their demand for more money
to the point OF forcing the Govern
ment to listen TO them, there are but
two ways of effecting it, and on bori
of them the light OF experience may
be brought. First, by the issue OF
more United States notes, which
would be iofiation, and necessaril .
depreciate their value if issued be-
yond limit fixed by law and the de-
mand Of trade. For instance, if the
greenback circulation was increased
to twice its amount, and it was to de.
preciate to fifty cents or the dollar
as it did on the DIST of June, 1864
there would really be no more money
in circulation than there is at present
The next point Is that resumption
will increase the circulation without
diminishing the purchasing power o
either currency. For instance, i
there be now $4,000, 900 of gold anC
: silver In the country on the LIST o
next January, when specie payments
will be commenced, the currency o
the country will be increased by tina
date to over $900,0O0,0OO, including
coin, and when resumption comes tn,
wages earned by the workingmar
!. will be paid In gold or its equivalent
and every dollar will have a power t.
purchase him more necessaries, com
T forts, CT luxuries, or enable him I,
save more OF his surplus earning
a than at any time since 1861. And al
( this must be placed to the credit ant
sagacity, the integrity and patriotism
3 OF the republican party; for the Dem
!, ocracy,in sympathy with the rebellion
3 would have let the country go to tn
!, dogs.-NeC Republic.