Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1879-08-20

for no contraction of the currency, but
United States notes were to be retired only
as greater amount of bank notes were
issued. The on ly contraction that has
occurred since the passage of the resump
ton act has been by the voluntary with.
drawal by national banks Of portion of
their circulation when they found it
could not be profitably employed in
business. Every act done under the re-
sumption act tended to increase rather
than diminish circulation; and now that
all this circulation is at par with gold,
the coin Itself becomes an important
factor in The volume of circulation, and
swells the amount that is available for
the transaction of business
We have
TRIED THE EXPERIMENT
OF coming the silver dollar since it was
authorized in 1878, and have coined
$35.Sl0,000 Every effort has been made
to put it in circulation without forcing it
upon unwilling persons, but the treasury
department has only been able to issue
!; },359942, Of which $6,51S,9l2 have
since returned to the treasury. The SEN
sible course to be pursued with the silver
question is 90 treat il as a practical one,
and to coin it without limit only when
the commercial nations have agreed upon
a market ratio upon which they can all
stand. 1t is now believed that
this can be brought about by
commercial treaties, and negotia-
ton is now pending for that purpose.
Again they say that they favor the imme-
diate use OF the coin in the treasury for
the reduction of the bonded debt. This
proposition is the purest demagoguism
unless it is desirable to have irredeema-
bic paper money depending for its value
only upon the mandate of the govern
ment, or what is called fiat money If
we prodosc to redeem our money we
must have in the treasury coin sufficient
to meet any sudden demand.
The secretary then considered at more
length the objections to national banks,
and reviewed the greenback platform in
Ohio, and concluded: Is it possible to
GO FARTHER IN THE ROAD OF DIsHoNOR
than is proposed in these platforms =
and yet the democrats of the state of
Maine, members of the old, powerful or
ganization which for half century con
trolled the destinies of the government,
are asked at the end Of great war to
support and maintain dogmas which
strike at the public honor, the public
faith, and all the cherished principles
and aims Of that party in its palmy days.
You are now expected to adopt the crazy
dogma of extreme opinions, at war with
everything that was said by Jefferson, or
Madison. or Jackson, or any of your
time-honorcd leaders. | know that it is
against the judgment, against the in
stincls of old-iashioned democrats to
train under such u banner, and | appeal
to them now to come to the rescue Of
their country-not to be carried by a
party name or party badge to the dis
honor of their country and the shame of
their children. | have sometimes thought
that the democrats of the northern states
have been led through devious paths
enough by the rebels of the south II
their efforts to destroy the government,
and in their later movements to sap and
mine all the great powers of the national
government; but these extreme green
hackers, as they are called, ask you now
to follow them in voyage more danger
Gus, upon dogmas that cannot meet the
plain common sense and reason of patri-
otto citizens, such as compose the great
body of the democratic party.