Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1878-01-28
RESUMPTION.

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Southern congressman seem to have
special antipathy against the Resump-
ton Act, and are bent on its repeal.
This act provides that the government
shall redeem its greenback currency IN
gold. on and after Jan. l, 1879. This
means that when any man or party shall
present greenback dollar at the Sub !
Treasury, on demand, he shall receive
a gold dollar in its stead. Government
on that day will begin to redeem its
pledges made fifteen years ago, when 1T
was compelled to give non-interest bear
ing national notes to pay the expenses
of the war. On the day of resumption,
every dollar of national currency that
any man owns, is as good as dollar in
gold coin; on that day the speculation
on gold, or more properly speaking on
currency, ceases; on that day the national
finance, having settled on to the worlds
standard of value, every business or en-
terprise can be figured with a certainty
unknown since the fall of Sumpter on
that day, the world will be compelled
to acknowledge that the American Re-
public has triumphed, not only over a
gigantic rebellion, but stupendous dan
ger that threatened her, when she flood
ed her dominions with $400,000000 in
paper promises.
DuJ why dues anybody oppose meas
ure that promises so we'll ? The answer
is difficult With less than two cents
difference IN che commercial value of
gold and greenbacks, it is hard to see
why any serious opposition can be
made against allowing resumption to
take place as soon as possible. At the
rate greenbacks have appreciated in
value, for the last year, they will reach
par of their own accord before next
January, and then the problem has
solved itself. When dollar in nation
al currency will buy a dollar in gold
any day, nobody will desire, except for
special purposes, to swap it for gold.
The paper currency is more convenient
and better for the purposes of money and
business.
The nation should pay her debts, as
: every body must admit, but when hel
) promise to pay is as good as gold, and
5 every body knows that to be fact, ther
q she will not be forced to pay her green
t back currency debt at once. Her green
S back creditors are in the same condition
a the Irishman was, who demanded tn
d money, which he had deposited in
n savings bank. When the cashier wa
t, about to hand him the amount of hi
3 deposit, he remarked, "If you can pa
= me, don't want the money if yo
A can't pay me, l must have il" Al
l. that anybody wants to know about
1t "bill," is. that it is as good as golC
y then he prefers it to the yellow coil
d One hundred and ta0o dollars in "bills
t. to-day, will buy five double eagles, s
that gold for any needed use can
bought without great sacrifice.
The vSp5y reason So we can Ss Sseeye
- some national, legislative chicanery
:, receive silver, or other deprecated Gu
:. rency, which shall be cheap as it
= plenty, with which to cancel his oblig
= tons. The project and. the desire a
. alike dishonorable. The only hone
= way to meet the situation is for 90
eminent, as we'll as individuals, to D;
n every dollar of Indebtedness in the san
way, and in the same kind of mon,
that was promised when the debt W
. contracted. Silver dollars worth
% cents each will not pay one dollars i
- debtedness. Partial Reputation is
:. wicked as entire Reputation, and '
hope this nation will never be disgrace
by any legislation of Congress, whi
lrs shall undertake, by legal enactments,
p swindle any man, at home or abroa
I'll out of his honest dues. Poverty al
at hard times are disagreeable, but natio
in. al dishOnor Is ruinous.