The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-20

cf bonds to use them aS Dan ktng pisa.s
while the people are taxed 20 pay
interest son the bonds. it Is extendinE
an advantage to one species OF properly
which is not extended TO another. me
owner OF lands, or factories, OF otneI
property, is not allowed 10 piease'
it for bank circulation and stfii retaln ~, W
himself, as the boBdholder does, the pfob.s
on the capital thus pledged Tor the reaeInt
tfon OF the circulation. w lille any pr.s .,.,s
banker who loans money has either Io ~ wv.
or borrow and pay interest OBJ, OF az ,eaJ
nav ii, cali. the money he loans, the nationa.
banEer oets from the Government the money
no ioans without Interest, II is Q direcI
bounty to the banking NOT ca
tended TO any industrial pursuit, or any
other investment Of capital. Even the 40.
cnrsed protective tariff Is only an lndlfecI
houuty to the producer, and that system
viii he oyerthrown whenever the people pc
come fully alive to its injustice. bue u !, IS
! no -, 70 nerceiye what pretext even can DC
;nvanted "a iustifyS the bounty offered tue
r,tinn al bonkine system. The paper WINCH
tha hanks oct gratis to enable them to loan
Cor sor interest. is issued from the Treasury De-
/ nortment. as we have seen; ana, IN cse !.
hank fails, the holder OF Its bills .looss NV
! IN the bank, hut to the Treasury ioi nc, 1T
!. demption. True, banks pay aAes' DaS
who would not be willing 10 pay ,. taa
on money which he can nave e, ". .,.ho1e
interest to loan for interest Tue mno a.,
system is an unjust adVa 1 AZ, o M
organized money-power, anti-DeiaoG ot;cai
in 1sn:rit. and dangerous IN pract.cai
/ nrar.tior, AS a widespread raminca,
tipns' ~ moueved institutions aHilasea
; ;mtn a lhrotherhood Of more than 2,cVo
nau IL il capable Of vast miscnlef.
T,,tand;no. into every congressional dls.
t.int .ond INIT together by common bond
20 ;3tarestS and sympathy, no institution
e;nne Slavery has had hall the capacity for
,,nwer in politics the national bankers have.
let them have complete control OF: the pa
ner issues, and they are masters OF the mon,
/ e.ary policy OF the nation. have no WORD
! OF reproach for the national bankers per,
] sonally. They are doubtless as honest ane
honorable as any other class OF cltzens. II
is the system / 1assail, and not those Whe
engage in the business.
Bnt ut the same time let us not put {
worse system in its place. Let us not be
beeuiled by the siren song of fiat money
Let us walk in the plain, solid road, paVet
by reason and common sense, and illumlnec
by the sunlight OF experience, and no
founder in the quagmire OF irredemablt
paper, our miring feet misguided by thu
i iack-o'- Lantern OF imitation. Wealth is no
wind, but the substantial product Of labor
Wealth is the legitimately begotten child o
industry and economy. Labor needs none!
that will buy at par, not sell at q discount
All our dollars should be equal in value
Value-money is the friend Of the industrlou
Door, fiat money the vision Of the dreamer o.
the tool of the demagogue. Or real money tn
country can never have too much; of shan
money it can never have too little. The IN
terconvertible greenback is the best form
hard money. Paper sails require meta
ballast. Away, then, with the folly o
the National Greenback party and It
illimitable issues Of irredeemable paper
The whole wealth OF the United States doe
not exceed, does not reach S50,00O,000,
900. Ii the nat of Government cal
make money. as the Nationals say. sim
ply by the stamp Of its rulers, could no
$500, 600 900, 900 be made as easily a
ST, 900, 900, 900? 1t needs but linen rags an
fancy-colored ink. No, my countrymer
, this is but the chimera OF heated BRAIN
, and will soon vanish from the public min
as a distempercd dream. The old Demo
cratic party will live on, come into power
reform the currency, give the country ire
!, trade. protect labor against the aggression
of capital, reform the civil service OF tn
country, and hand down the constitution;
liberties OF the American people to the II
hottest ages. ...