The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-08-30

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iaitctansnt Tsrat dnsns ~. haws~s.
II MA 4 rone&&snn ~ sh~ a,snions ri
ihe@s wfa hrtsvs~ the es~s hisM ks NV
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nanney. nn The rrntFasy, their erAsinV h
rAll thsm issesls~ mnhle IL ,tns In slie n,~s
acsumplishmsn n What conforms tn shs
imprs~Airh they lAvr N what in meant
hy the term redemption, aud nss ii, any
change In their ideas ronevfning the
merstA IL the etsenbArka Were The
RsuMnd b. sa,ldenly ol~n and swallow
the eula hcArlsd In kaahineton. slrse
people wunll "fvtnrn tn their vomit;''
they ar~ incapable u forming an in,lr.
pendent opinion mpon The sahject. hut,
hke barren r,cks, echo very 'islincily Y
through the romMunity the nts.ranccs
of foseign ecld. pe,l,llcr~ and that ole.
,lient servant of The pc,ldlers -anr tiov.
ernmcnt.
There are many who reply ~ The
charge brought against tho grsenha Ike
of being irreslrrmahlc ~ nskinp Il
gold rcdeemal,lr II rfes nhaeks and
gold were identical, VI, ra convertible
terms, were qualified to perform the
same dnties, this reply would b. all.
sufficient hut gold and srccnhacks
have nothing In common: they are utter.
u dissimilaf; the former Il merchandise.
the latter arr currency; tll. ono In a
measure, the other representative Of
values; tho first Ii saleabie for the prop.
crty IL measures TIN value cf, tAc second
arr rcslccmahlc In The property they
represent the value oi therefore 10 the
question, ID gold rcdecmable ?---she
proper reply 10: No; gold ID resleema.
bio In nothing, bat Ii sNlcAhlc for every.
thing; and 10 thosc who assert the
grecnhMcks arc irrc,lecmnhlc, Tho proper
reply IN: Hreenbacks arc redecmahlc
IN everything. but arc salcahle Tor moth.
ing.
urccnbAck ndvocates, the advocates of
u national currency. cannot Ruarl too
carefully against confomnding green.
backa with gold; they should LIT II b.
distinctly understood they recognize no
affinity whatever between gol,l and
grcenbacks; they should let Il
he understood they do not de.
mand grcenlacks nm substitute
for gold, N something to take
tho place ~ gold, or N assume the II.
gitimatc duties of gold. bnt demand
them for purposes gold IL under no Or.
cnmstances capable of accomplishing;
demand them 10 meet n want that hns
been growing more aud more Imperative
with every step taken toward Il higher
civilization and morr complex social
organisation; 4 want which has manifest.
I'll it.elf In the creation ot prumissory
noteM by individual and banking asxocia-
tionH, but which have completely failed
~ sAtimfy that want, because, instead of
tho entire property of the nation, they
only particular and limited
propertics which, when lost, deprived
such notes of all usefulness. To discuss
the question whether gold or grcenbacks
Are preferable for meeting this want In
inst m profitable ~ 10 discnss whether,
In the making III pudding, eggs or
wool arc preferable. Eggs aud wool
arc equally excellent for The purposes
10 which they can bc applied: but no
amount of ingenuity can make eustard
of wool or weave eggs into cloth. Like.
wise gold In excellent for the uses 10
which II is adapted, but no amount of
cAn transform II from = meas.
urr 10 4 representative of values; can
transform Il from merchandise to cur.
renay.
II gold can be currency. then yon can
make currency NJ any kind 81 nerchan
dise from rows u pins upward; for gold
II nothing moro than merchandise; II hAs
intrinsic value: II can be and IL honRhl
aud Hold by the grain, ounce, pound and
ton, likc all other merchandise, whether
u he in the shape u coin, bullion or
dust. Every transaction In which any
thing h exchanged Tor gold II purchase
or HAlc III gold for tho rrticle taken Or
Rivcn IN exchange and the article ~
changed for gold Ii Just ~ much 4
measure Of the value of gold m the
latter ID n measure ri the value of the
article for which II II exchanged. bs.
cause both Are merchandise, and ~
such have the samc properties In COM
mon. Currency, however, has no in-
trinsic value; II cannot bc bought or
sold by any weight or measure; u has
none 81 the attributes NJ merchandise.
II dollar grcenhAck n0tr ln given Tor
\ pound III tea n II redemption of tho
notc In the property II representa the
value ri, and that value II the SUN
total of tho labor expended In producing
the pound of teA or any other article on
which tho same amount of labor hsA
boon expended. But while the pound
II tea rctlcems the note thu notc do< ,
not redeem the pound oi tca also while
tho icw grAins of gold redeem tho grscl.
back dollar notc tho latter .locs not ~.
deem tho gold but IN tcA may be sold
for gold 10 also gold may BE- sold fcr
teA, Thus showing that teA anil gold AIc
equally merchandise. and therefore ate
equally entitled 70 perform In business
the Same dutics, while the greenback,
mot being merchandise, but currency.
haA no traits In common with thu tca,
gold, ur other articles tho value II which
h roproSent.. Therefore. II i unwisc
and only tcnds to weaken the urecnba0k
cAuAe. when the Issue 10 Honght ~ bc
determined by weighing the merits nj.
alivcly of grcenbHeks aud gold, of our
rrncy and merchandise. They have no
merits In common each Inns its peculiar
virtue Anl neither IL qualified 10 take
the place u the other.
| lay particular strcss upon this point,
because II Ii onc generally lost sight ol.
and / know of none That ought 10 bn
kept more constantly In view. Through
neglect or ignorance n II many earnest