New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-11-01

RICHMOND, VA
You canno, buy an apple with 1t II n just as worth;
Tess paper without the stamp hOId ahOlue' Pe'o
0' ''~"'p'" p'T THE UNITED STATES. $50
Will pay 20 bearer
FIFTY DOLLARS >, -
Tn,. note /, legatender for $40 Win this can
buy nything you need. WHIT Is II on account Oh me
paper Not at all A, PaPeT s sSs sa%pcd
20 redeem the paper in coin gives the purehasng
rsrat you mere pee t % Weight Is equal to 53
dollars OF coined gold. ANY banker In wall street WIZ
la Fit Its value then does not depend upon the
stamp. while the value OF he paper ueiC . ~
rsem the naper II nm insane deus0n shall seize this
people and they shall decree that the Government must
tTIst CONFUSION and anarchy follow the stamped paper
will buy DreSd 70 feed starving enid. "hl I've
ccyed in exchange Tor any Of the needs Of man an
1t has value then quite outside o. any stamp Vi 'N'
Government, or Of any legislative enactment
CONGRESS UNABLE TO CREATE MONEY.
Fellow cltizens: You may be deiaded by ignorant or
misguided men about the legislative powers OF the Ma
tom you may be mpiousy told that Congress by III.
fat can make money. the Onnipotent God by MS ha
made the light: but all such attempts will perish In con-
fusion The Congress can more make nat money
fban they can make fiat potatoes But the Greenoaek
orators point you to the time when paper money was
issued by tho Governments when laborers were en-
poyed at high wages and when all seemed prosperous;
and they tell yon that the prosperity would return
II the GOveInuSent would again Issue new greeDbacss
This IA plausible suggeson II IS rather taxing anu II
IT cannot fully and clearly refated then tbe III
datlousts have tue argument. ~
Facts dependent upon truthful figures will be useful
in this discussion and they Will rrOVe that "heh conn
dence vanished the crash came. and LABOR cedseu 10 Dc
in demand. greater amount of paper currency was
anoar greater than IN the seeming dsSs
OF 1869. Surely then, it was not the Lack OF paper cur
repey which caused the collapse aud deprived the la
nSrGr o. nS days Of the and see how it
The Government. then less tnan hure % a W.
Thesr were all diverted from productive industry anu
actively engaged In waste the rebel States nau Nhso
property foe that these armies were eating
up and destroying but the properly OF our own peop
The Government needed food and clothes arms ana am
nunitiou, horses and harness. ships ana wagons, anu
blankets and saddles and all the tnousanu noh Ib
things needed the movement OF great armies; aoor
in demand aud made scarcer Dy calling 80 lnahS
soldiers to the field To pay for all these Things inc
Government Issued greenOaoks, made them legal
tender and promised to redeem them IN eOn lnls was
narPs Of the war aud il was right After four years,
war was conquered by the vaor OF our troops ana ne
Sountry returned 10 peaceful life and increased the
supply. while the demSnd for aS"r was s ssrce
peroeptble at fist but coon TOO paI IpaSer
o1yer cancelled vast contracts for arms and other
supplies and ceased 10 paw out any money excelt tna
Of tax Three thousand millions OF National deot had
been created much Of bearing high rate OF Interest,"
IN aduitoD sacacious meu that unless the public
could brought TO face the real situation crash must
come --.-- --...... $50.
purely deusye the Government nad been, VnS upoa
great estate may through hs credit spehd ten tlnes
his income for year, and fancy that all prosperous
so We when the nation was lavshy spending its boz
rowed money. called sns prosperity ana smut our ears
10 The warnings of those who SAID that the day
~ RECKONING must come. Statesmen saw that
we must gradually contract the paper cur
rency in order return to healthy condition; ana be-
tween Tho close OF the war and 1865 passed
TO that end but W many preferred false 10
honest truth. tnat contraction was stopped by law anu
tAs S as e1ps9ssGo sn N hSsS me
currency In 1873 $4,000 900 more tHan IN 1S69
THE COLLAPSE OF 1878.
But did this volume Of currency afeat In 1879
bring prOsperyi You all know tn0t then came the col
LAPSE from which we are suffering at this hour But
what did We do 10 lift The country from Its prostraton,
when Its paper currency Was SO immensel Wa 1t be
believed fifty years hence that we added over S3lOOO
600 To the inflated voumei Wedid; ana thereby added
largely to our distress the severity OF tho distress
brought the dawn 20 deluded people, and we
began 10 see that We the which
under when commercial naiiOn can ons prosper The
Resumption has not FASTENED that return one hour
n would before this frolD higher law, anu
without the Act, II the Presidents veto oil tine silver
BIZ had ot been nnGsr aDTr e 10 S Se
cause regard 1t the turning point IN the treat issue
viii not bring even apparent prosperity which we
had before, out increased disaster nsea1 tne. one
reenback delusiOn viii vanish dld the dream 0i our
pIBs But suppose the Congress should pass Law
directing tho Secretary OF the Treasury TO
print two Thousand millions OF grcenoacks. End
the President should ssn tns , S , ven, w ns:
the grcenDacksf Tne Secretary would not present
eoyeramyHs wants 70 bay does the Government
you snytningi II not then yoa cannot get the green
sell you can get ful pr.ce for # without any
issue. But would you part WIN houses or lands, or
goods for part OF these two thousand millions OF new
groenDaeksl Not II you reflected over night But no
suen Jaw can ever go INTO operstiop; h, o,s.a p,r.,
the bill pass Congress and then the President who
s so~s fSs viii veto IL and Il canno pass over the
yetp There 10 many honest, Intelligent patr1os IN
done 70 hs country even il t8e Republicans are not
strong enough TO arrest IT, But even II sue. .. law
passed the veto then the supreme Court would staDd
ss u granite mountain TO resist the enormliy.
Evils OF The AGITATION.
You will then what is the harm OF the agitation
Tae harm Is great II breeds dlsrust IL leaves men Of
business uncertain about the future it prevents any
new enterprise; parayzes Industries and destroys much
OF the demand labor. Capital Ia always timfd, and
when II strusts the intelligence Of the Gov
eynment IL eOneesls its and remains inactive
Capital and labor must always prosper or suffer 10
esther Capital which Il naetlvebrtngs no income and
hrt tba alton OF toe Government Such that capital
fses insecure. IL will not embark III Hny INDUSTRY. In
cOantry Ike every Glass Of the is DEPEND
aoa.es caanOt get rent unless tue tenant can get
s0nsY merchant csnnot get pay for his goods un-
Tse owEeF 00sey, even, gei only very low rate
d istEsst vLsE eisIusl pretsEis ava he
tnnsf tf.su. AZ q rue, sprnd bis capital 10 BYe
UfxssFrd ~ DIVINE Providence Ia abundant crops
9z6 OfseT yfOfECts, a. We Dave beeh, we s9aH very
ar sraff .syr 81 pf5sysrT SURPRISING any
sasz aAeH to NOrf hss ever seen unless u " 90
s~s.g~4 ri SftiyI 81 tue Government II Inc
49,, 49, = ca seEtsss pscS aEd rea honest re-
ssasSeos t4<ss Dl@1s 10 January .s shall have 70
&C., e11GGssGe al "a Gus Tine 4 healthy
sTs.u4ss.1 fra ilh<Fstsd sOsn and convertible
ssSly, ezg9sz 49, Essd % tbs CONNIE ehai
500 = Nv b. ig Lss7 De needed
g..s vi. segsrs hSDE, DfsrZ similar " bot sTsatsr
ssssssYs ssxa Es4s rhfsE e1ezsyFs9 ~ E1qISBd On
Rsysssay - so@eas >sSaas- otter '~VsE~1" VI haoFs
gsoeax u "a soaess ssssoStos sarh a. ~ set EN-
~ ss1esses1 nat sosas - sss sSvsses4 states