The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1878-10-24

carry this powe into effect, he saws:
!. LII is power not to be reSorted to ex-
cept on extraordinary and pressing
circumstances, such as war. or other
public exigency of great gravity and
:" importance, and should be no longer
"exerted than all the circumstances of
I" the case demand" SO we find the
acts held good only on the score of this
necessity, and then only by an acct
dental majority of one. If then, it
was SO doubtful whether Congress.
under such circumstances, had this
power, that the highest court in the
land stood nearly equally divided, can
there be any doubt us to the existence
OF such a power when the exigency no
longer exists? If the question wheth-
er Congress could do this to keep the
nation alive, was SO doubtful, can it
be even doubtful whether this can be
done, when there exists no shadow of
necessity and when expediency, even
is against it? Clearly not; and we
may say that no lawyer can honestly
pronounce otherwise. If there is any
thing in legal precedents, or in the
honesty Of the courts, no further issue
Of legal tenders is possible.
Nor would such an issue be expe-
dent. When the Legal Tender Acts
Wee passed, the Nation was sick,
even unto death. Ordinary remedies
were useless. Our statesmen, and we
had statesmen then, believed that
IS Diseases 1nSnarate Drawn
BY desperate. appliances are relieved,
Or not at ALL
But now, when the disease is pass
ed and the fever abated, these would
be statesmen ask US to administer to
the country another dose of this {" des-
perate appliances" to give strong poi
son to a well person, becaused 1t serv-
ed him when i'll. The fears of Charles
Sumner were not groundless, when
giving his vote for this measure, re-
luctantly, as a temporary eXpedient
rendered imperative by the exigencies
of the hour, he expressed his appre-
|hension, lest "the medicine of the
Constitution become its daily bread"
And this, so much deprecated by that
great statesman, is just what the
Greenbackers desire. But are we pre-
pared to administer to this GONZALES
cent, opium, because it soothed him
when in pain? The parallel is accu-
rate and just. When the country was
sinking, We administered a strong
stimulant, and now are asked to repeat
the dose, not as a medicine, but to
stay the reaction. You give q man
opium, and a pleasing delerium fol-
lows, in which pain is forgotten. You
administer paper currency to q
country and a delirious prosperity fol-
lows. In the case of the individual,
the reaction of the narcotic is marked
and is accompanied by craving for
more of the poison, until, if it's use is
continued, the man is destroyed, body
and mind. Whereas, if he had endur-
ed the reaction, nature itself would
soon have corrected it. So with the
country: the reaction came from it's
delerium: prices fell, speculation
ceased, values shrnnk, business stop
ped. And these bad physicians say,
Stimulate again; destroy the nation
with this poison. And ttey would do
this, when we have endured the reac-
ton almost to the end; when in about
two months, we shall by resumption,
have thrown off every grain of the
poison.
But let us look at matters as they
are, and contrast them with affairs as
the most moderate even of the Green
hackers would have them. Now we
have plenty of currency; silver coined
at from two to three millions per
month; gold again seeking circulation
and coming to us from abroad every
day; SAC, 100000 of greenbacks equal
to gold; 1922 100000 of National Bank
currency equal to gold, and currency
which is flexible and must adapt itself
to the wants of trade For National
Banks, will issue money when it is
called for, and must redeem it when it
is no longer needed. The greenbacks
can be no further contracted. BY the
Act of June 1878, they must stay at
$346,50O, 1000. After Jan. 1, 1870, you
can get gold for any you present at
the Treasury, but after being redeem
ed, they must be reissued. Prices are
settled upon anti-war basis, and bust
ness is reviving. Now, how can we
get any more perfect system than this
National Bank notes are as good as
gold all over the country, because to
secure them, you have the National
credit, the stock and surplus of the
banks, and the personal liability of
the share holders to an amount equal
to the capital.
There is an old MAXIM, as wise as
old: Let we'll enough alone" Tic
nothing is it more applicable than to
national finance, and the money of q
people. Any change unsettles vol
ues and works wrong and injustice
In this almost universally "Striv'
ing to better, oft we mar what's well. ,
Gentlemen, the results of the propo
sitions of the Greenbackers would be
simply the ruin of the country,-the
destruction of it's business at home
and it's credit abroad,-the loss Of oul
self-respect and of the respect OF the
world; or as it may be summed up in
ono yro,1 Much al