Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1878-10-17
PAPER MONEY.


Occn III harmony WllH lllc assumption
that they constitute Il debt; consequently,
it has, with little or no reference to the
disastrous consequences involved, left no
means utrled to pay off, in the shortest
possible time, this sO-Called debt. The
means employed have been the boarding
of gold and the destruction OF grccnbacks
received in payment of dues to the Gov
ernment; plans equally effective for eX-
terminating our currency and for annlhl-
lating our prosperity.
The only sources open to Government
for obtaining gold have been purchases
of the metal from gold pcddlers and du-
ties from imports. As compared with
the receipts from customs the purchases
have been small; they have served, how
ever to indicate the tendency of our Gov
cmment to sacrifice the best interests of
the nation, rather than displease foreign
capitalists by not indOrsing their pet idea,
that the good of this country calls for
specie payments. The mere fact that
these foreign gathcrcrs of tribute from
the toiling masses advocated so strongly,
nay, vchcmently, their own tavorite nos
trum, should have Sutliced toplace patri-
otto, an honest Government on Its guard,
and prevented the cOnsummatiOn of Il
scheme which has brought 40,OOO,0OO of
Americans, 40,00O000 Of frecmcn, humble
supplicants to the feet of few foreign
bankers and mOney-changcrs.
While this gold purchasing was in pro-
grcss these philanthropic ~ foreigners
obtained, through their agents here, cX-
elusive information from Washington,
which enabled them TO take the utmost
advantage of the necessities of II people
whose welfare, to believe their hypOcriti-
cal language, concerned them so deeply.
Then it was the world witnessed what,
but for its sad, serious import, would have
been ludicrOus, the spectacle of our Gov
eminent buying gold from these ShyIocks
upon their own recommendation, at a
future day to sell it to them, in the name
of specie payments, at par
Nothing, however, sets forth more glar-
ingly the imbccility, to give it no harSher
namc of Government in the management
of our financial affairs than its saddling
us with illimtable gold obligations, and
then determining that these obligations
shall he met by receipts ofgold from duties
on imports. For the enslavement of the
nation and impoycrisment Of the people
nothing more ingenious could have been
devised. When the Government entered
upon the course here indicated, it wa.
with a full knowledge that European capi-
taists were practically the sole cuStodians
and arbitcrs of all the gold in the world
available for commercial and financial
purposes; and, therefore, it was not blind
to the fact that, by adopting such meas
urcs, it was rcwarding the liberatOrs OF
negro slaves with scrvitudc to European
moncycd oligarchy, which releases it,
victims us spiders do flies, only after cX'
tracing all their vital substance. GOV
crnmcnt might, with equal propriety, have
made the nation tributary to India by is
suing our bonds payable, principal and
interest, in Cashmere Shawls
BY deciding that its gold receipts should
be derived from duties on imports, Gov
ernmcnt dealt 4 paralyzing blow to on
industries and rounded out policy i
were charitable to assert is the Joint pro
duct of ignorance and idiocy; for, in orde
to obtain from customs the gold require,
to meet the obligations Government haC
insancly fastened upon us, it became nee
cssary that the foreign manufacture
should be encouraged to flood us with hi
goods, and to this end the tariff was re
duccd to the lowest point compatible witt
securing the largest importations of dutia
BILE articles and with rcaping therctron
sufficient gold to meet Government cXi
gcnciCS. To further encourage the foreign
| Ga, lin,,n,,n,,,nnt laid ,Ilit,
al burden on our home industries by tax
ing their products so hcavilyas to ocnhanc,
the cost Of them to degree that enabled
our foreign competitors to reap, at our eX
pcnsc, n very bOuntiiul harvest.
Nor did the evil, though 50 great, stol
here; our exports partially paid for tn
imports thus generously encouraged, bu
= a very large balance remained to he set
tied, and this was accomplished by send
+ ing to Europe, in lieu of gold, millions up
on millions OF Government bonds ut y
snd 60 cents on the dollar. 1t is cstima
ted at least Sj00,0OO,000 ofour bonds wen
abroad on these tcrmS or, in other words
for $500, ,OO0,0 of imports and other for
eign obligations we rcmittcd 100000,
900 of our bonds, upon which we hav
paid the foreign holders annually $50,
100000 in gold for interest, for usury, q
10 per ccntum annually on the 100000,
600 in foreign goods received for our $500,
100000 of bonds. When these are fnall
liquidated, we shall, in addition to on
, SiOO,00O,00O paid to satisfy ursury, b
!, obliged to hand over to the foreign mon
cy-lendcr $500,0O0,00O in gold or it
equivalent to wipe out the principal; tina
is to say, in order to settle for $500, 900, 90
first to last, be called upon to send abroa
to the Golfers of foreign capitalists 5000
9 100000 in gold, and this independently c
= the enormous sums in gold which must b
! ultimately provided to settle the principa
and interest Of our national bonds as we
as of our railroad and municipal bond
( held abroad which must also eventual
A be paid, principal and interest, in gold.
, With this immense gold debt staring
in the face, aggregating more than all tn
gold coin in the world, our Government
j, inspired by foreign bankers and hounde
on by u servile, subsidized press, is doin
A its utmost to persuade the .pcopl
:, that their national salvation depend
upon the destruction of the las
$ remnant of the greenbacks, the las
, particle of the only antidote the natio
+. has had to counteract the delctcrious an
J.. fatal policy of its rulers. And for what
Because the greenbacks have wrought u
u harm? Not at all; for never since tn
o birth Of the nation were the people MOI
S prosperous than while the 'grecnbacR
& held untrammelcd sway, free from tn
:, attacks of the gold maniacs and tn
y clutch Of the usurer. Then for what
: Why has all this woe, all these disasters
s all this misery been brought upon tn
a nation? For naught but that moon i
= the water, that ignis fatuus called speci,
II payments, which, save the name, we hay
never had, even during the palmiest {
hard money days, and never will hay,
though we strive thousand years.
+ Trucking to the monitions of foreig
g cabinets, pandering to the greed of foi
. = eign capitalists, and ignoring the pre-
u ent and the future welfare Of the natiol
Q Government has exchanged our prospe
c ity for ruin, has bartered our substanC
: for shadows, and sold our birthright for
=? mess Of unsavory pottage.
! Instead OF now being tied in bondag
: to the chariots of foreign gold-kings, ho
n enviable would our fate have been ha
= Government spuned the insidious adviC
l. of those Unsuitable gatherers Of tribut
: from the toll lg masses, the foreign gol
d and brains unclouded with the incense
IS foreign Establishments! Then instead
b enormous gold obligations, which hay
/ transformed us from freemen to hewers
If wood and drawers of water for our foreig