The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1879-10-09

gold, sfd TO redeem man from The
or ginsl sentence of his Maker, Ia
the sweat % his brow shall he eat his
bread. - Ess-act frem iette- 70 Col.
\ ticcy, JaBusfy g, 1916, JsfeTson's
Wssks, Vol Vt SIS Also: Gotta
may be produced By industry and
accumulated 6J economy; but jugglers
only will propose TO create it by legerde-
main tricks with paper. Extract from
letter TO John w. Eppcs, Nov. 6, 1913,
Jeferson's Works, Vol. VI. p. PAL.
These utteraBces are ss applicable to-
day as they were then, for they an
nounced general principle whose yio-
lation is proposed by the Greenbackers
COW, as it was by the bank followers
then. Mr.. NJ isOn says, speaking of
the evils of Continental paper money:
THE loss that America has sustainG
since the peace from the pestilent eff
fects Of paper money on the necessary
confidence between man snd man, and
in the public councils, on the industry
and morals OF the people, and on the
character Of republican government,
constitute an enormous debt against
the States chargesble with this unad-
vised measure" etc.-The FelerdiiSt.
No. AZ. Mr.. Hamilton was no less en-
phstic in his reports as Secretary of Il
Treasury, and Chief Justice Marshal,
in Craig v. State of Missouri, Peters
r., pronounced an equally decided
sntsgonism to this character of mon
ey. Mr.. Webster says: ''Of all the
contrivances for cheating the Ia
boring classes of mankind none
has been more effectual than tn,
which deIudes them with paper money.
1t Is the most effeciual of inventions
for fertilizing the rich mans field by
the sweat Of the poor mans brow"
JACKSON, CLAY AND CALHOUN.
Gen. jackson said, ''There never was,
nor ever could be, use for any other
kind Chan redeemable currency, ex
cept for spectators and gamblers in
stocks, and this to the utter ruin OF
the labor and morals OF the country"
1t is claimed by the Greenbackers, is
asserted by them on the stump, aid
circulated in their books and PAM
phlets throughout the land, that Mr..
Calhoun was a friend of irredeemable
paper money. Never was a greater
mistake made. In the debate on the
independent Treasury bill in 1887,
when all the banks had suspended
specie payment, and gold and silver
were driven out OF the country, Mr..
Calhoun proposed an amendment to
the bill to the effect that Treasury
notes should contain promise to re-
celve them in payment of all dues for
imported go1ds, purchase of public
lands, etc. He distinctly denied in
both his speeches delivered in Septem-
Der and October, any power of the
government to go further. He said,
II am not the enemy but the friend of
credit-not as the substitute but as
the associate and assistant of the me-
tails" (Works vol. 3, p. 1917
Again he says: "Restore them gold
and silver, to their proper functions
and they will return from their Danish
ment; the mines will again be opened
and the gorgeous splendor of wealth
will again resume the more humble
but useful form of CON-" And the very
extract from which the Greenbsckers
are i'll the habit of quoting, if quoted
fully and honestly, shows Mr.. Calhoun
was not in favor of irredeemable paper
money. In his speech of Sept. 30,
1887, in reply to the charge that h
was. in favor of such money, he said:
'But whatever may be the amount that
can be circulated, hold it clear that
to that amount 1t would be as stable as
gold and silver itself; provided, the
Government be bound to receive it ex-
II, ofo1 oil
dues, and that it be left perfectly OPP
tIonal with those who have claims on
the Government to receive it or not
In the same debate Mr.. Clay said: eff
there be in regard to currency one
truth " hich the united experience of
the whole commercial world has estab-
lished l had supposed it to be that
emissions of paper money constituted
the very worst of all conceivable spe-
cies of currency."-I In Senate, Sept.
%, 1887. Clsy's Life and Speeches.
And lastly, the honor of the whole
country, and of the South especially,
is at stake in this question. Section
of the Fourteenth Amendment
to the Constitution declares: "The
validity of the public debt of
the United States authorized by
law, including debts incurred for
for payment of pensions and bounties
for services in suppressing instruction
or rebellion, shall not be questioned"
This means that the binding force and
effect of that debt shall not be ques-
toned. And this fiat money theory
if adopted would violate that amend
ment and our oaths to support and
abide 5y 1t, which we can never afford
to do. That amendment was in full
force when the Southern States re-
turned to the Union, and we are bound
by the most solemn ties and obliga-
tions to preserve it inviolate. Thus
the Greenback theory appears uncon-
stitutiUnal upon two grounds, and in
expedient upon all parts Of the ques-