The People's vindicator. [volume] (Natchitoches, La.) 1874-1883, 1879-11-15
Omen Letter IL q Greenback Friend.

Open Letter IL q Greenback Friend.
NATcHlrocHEs, La, Nov. 1st, 1879.
Ny DEAR FRIEND:
Having just been informed that
YOU, an old veteran In the Democrat
!c ranks, have to sOme extent been
captiva,ed by the Greenback heresy:
hasten to express my surprise and
sorrow at such Information.
have some apprehension that l
may DO running the risk Of offending
YOU. but I rust you will lake this let
ter In the slirit Il IL intended, which
is prompted solely by the interest |
feel in you, and is dictated altogether
by q spirit OF kindness. l have 80
much respect for YOUR good sense and
Judgment that / am satisfied you
have not posted yourself In, nor re.
aected upon the wild schemes OF this
party. and am firmly persuaded
that II / could have one hours talk
with you l could convince you Of the
grave error Of giving this party any
cOuntenance whatever.
In the first place; the recent cleo.
lions have demonstrated beyond q
remnant Of a doubt that the people
OF these United States will not have
any other kind OF money than gold
and silver, and paper money which
represents 10 value gold and silver.
because redeemable at pleasure In
these metals. We take greenbacks
and National bank bills at present,
as readily as We receive gold and sil.
YER, because the faith OF the Govern
ment Is pledged for their ultimate
redemption which causes them to
represent, and to be worth to US,
while We hold them. and to the per.
son to whom We pass them. 80 much
Of that kind Of money.
That kind of money the people Of
this country have been used TO since
the establishment Of our Govern.
ment. and l repeat, that the recent
elections have demonstrated that
they will have no other. Consequent
~ the Greenhack party, as Il Nation.
al party, Is henceforth as dead as
was the Know Nothing party after
the election of Henry A. Wise
in Virginia. in 1854. s. the most the
party can ever become will be mere
faction. and that only, 10 this State,
10 a few parishes.
My friend. you have enlisted after
the army has been routed and dis.
trOyed.
But their doctrines are, in
themselves, 80 wild and pernicious,
and especially so, to the South. which
Is the wealkh producing portion Of
the Union. that l am sure you have
not thoroughly examined them.
Their clap.trap cry is more money
for the people," But have the lead.
ers here explained what kind Of
money theirs would be?
1t will be impossible within the
compass Of q letter to fully elucidate
this subject. but q statement Of few
salient facts will suffice, I think, to
convince you that their peoples
money" will wholly fail for all pur.
poses Of trade and become at once
utterly valueless.
Do you know: have you been in.
formed, that this party propose to
flood this country with more than
Three Thousand Millions dollars of
paper currency. This amount being
about six times as much currency as
the demands OF the business Of the
country require, you will perceive
that by the laws OF demand and sup.
ply, which govern money as we'll as
all other commodities, their Green.
back dollars would be worth only
about II cents each. l. g. it would
take six Of their dollars to make the
present value OF q one dollar National
Back Note. And this, only provided.
their dollars were to be redeemed In
some way, and at some time or other.
But Is not the Intelligent business
man appalled, aud confcunded when
he Is further informed that every
dollar OF this Three Thousand Mil.
lions OF currency Is to be. and remain
wholly, and forever irredeemable.
Do you not ut once ask, what Is to be
the basis OF such u currency az this =?
This question was asked and answer
returned 10 PomerOy's Democrat of
October 25th. 1879.
"What shall Greenbacks be based
onq"
civilian Mcmillan writes from
GAINESVILLE, Ind, saying that some
one there had asked him what
Greenbacks would be based on. He
In turn. asks the question OF the
Democrat. They shall be based on
the same thing that the United States
Postage Stamps shall be based upon.
The law Of this country declares that
the postage stall;' ia u legal tender
for the carrying Of letter. The Law
Of this country declares that the
Greenback dollar Is a legal tender
Tor the payment OF debt. Then 90
long rs the law endnres. the postage
stamp Is a legal tender for the pur.
pose for which 1t was created, exact.
Iy us the Grecnback dollar shall he a
legal tender for the payment OF
debts, or for tho purpose for which 1t
was created.
MONEY Is never redeemed.
1t Dee'ls no redemptiou.
As though the Government could.
by law. make the dust Of the streets
money.
It IL true, that the Republican Ad.
by pushing their fund.
Ing scheme too Tar, did contract the
OF the country too much.
ana old thereby cause stringency In |
the money. market and great dam.
age to business. But the last Con.
Rreee, which was Democratic. RENE. |
died this evil BY passing over the Pres. |
fdent's veto an act ordering an In.
crease OF from two millions to four
millions dollars per month In the |
volume OF the currency of the land. |
Sec Act Con. 1878. February 28th. |
page Is. Under this act aho,,t AN