The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1878-10-05
- TT a

po4coh reach Moscow, but on afrfving there
ne found the city in flames, aud the products
ef the country IN ashes; he found himself and
bis great array, u heppsning II Severe vim
eS strande6 ON the plains Sf HuxiAs 50 too,
it will be with US when We reach resumption !;
It will have been over the wreck and fnan-
cIai ruin Of forty millions of peOple. And
even then we shall find in resumption no har-
bur of safety. Like Napoleon at Mosnw, we
shall lind ourselves tw" thousand miles from
our base vi supplies, in the midst Of desola-
tion and surrounded by ferceIy hostile en-
envy. 5.ar,...... $50. r,.-...-.
kesumpt on is cheat and fraud. Resume
specie pay ment with one hundred and fifty
milliu,s Of borrowed gold, while the annual
expenditures Of the government itself are
over two hundred and seventy-tve millions
Resume specie payment with one hundred and
fifty millions Of borrowed gold, aud at the
same time hoard in the treasury this borr'wed
stuff ~ a basis for volume Of paper money
sufficient tn revive and carry ON successfully
the industries IF this country! The whole
thing is an xb,ur lily unworthy Of considera-
,ion. M one doubts. but that the United
States paper money will foat, and float At par
in volume sufficient To. meet the demands Of
trade. ii made full legal tender, but a mefe
pittance Of borrowed gold boarded in the
treasury rs basis will not add Une farthing
to the value Of such money. The Supreme
Court Ut the United States says that the stamp
of the government makes money, and that de-
cision is binding, the declaration Of bondhold-
ers to the contrary notwithstanding.
The general government has the right under
the constitution To cOin and create nn'ney,
aud it is the duty Of the government t"exer-
else the right BY issuing the money direct from
the Treasury. and not by deegatiDg the au-
thority to the National Banks. When this is
done, and the present financial policy reversed,
the specie resumption law and the National
Banking Act repealed government bonds con-
tracted, and greenbacks expanded. gold. silver
aud greenbacks placed on an equality before
the law; free coinage and circulation Of silver,
the same as gold and the volume Of both in
creased as rapidly as the bullion is produced by
our mines. or can he purchased to advantage
with money ; the volume Of greenbacks in
creased until the whole volume. of money ag-
gregates the amount per capita in circulation
from 1865 to 1869, increased if necessary, and
the bonds paid off in lawful Notwithstanding
T., the letter and spirit of the law under which
they were issued, then will business confidence
I've restored, the Industries of tn. country re-
vived fires in the furnaces rekindled work.
shops reopened the army of tramps mustered
out of service, and the resources ofthe country
developed. - t..-.
Here We have extending from the Mississippi
t. the Rocky Mountains aud from the North.
ern ,undary to the Gulf-s country capable
OF producing corn, wheat aud beef sufficient to
supply tile Eastern Continent.
Immediately to the West Of this great grain
and stuck producing belt, stretching out to the
Pacific, lies the richest mineral country on the
globe. .
These tw, grand divisions comprise more