The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-08-15

w. @me~ssas N retssrs~t TIE
grYsslss@sh IA n*a vhts lnrvwnf~f~asas
rsessA. ar.t il ii trssssnrAs~iAs sAw s#As
eafMss sses sssH*a. h**sease W. iwsas
ssaissess ssstsslsius u Aise N lssnr
ssts. everything Il I@~vs sad seuwnss
laisas In slaasnmeat, hesA~a ~ ~
ss"Mal heans, snsilssiaal ~~alsh. shd thr
tsnNsvss III ss.tasn.sANani iseeWsn NHi
the wnsla rannul IT. frsuiussuhis~A in i
ims. ,eas. decade. f~ p~shNr@ 4 ~ssns
ass .ns Nh \ ~Hssnsn. iMslMFuWx ~ IA NJ
Anh isfNnnisMl - IL Al~Nss ias herh.
Which hMA existed III spHse form ffun the
earliest Mge@. uuld and silver hal reg
uiatrd The commerce aud the ssfannies
~ mankind until ira. Since then the
potency oi theis nswes has Men weak
ened, They hase heea weakened jnst in
,surottirn ~ man has lWeome
his own master. and capable Il,
hiA intellect and his labor 10 RISE
ai,ovc the thfallslum III others. Yet
tlrud wrath aud accumulated wealth have
chung to coin anil IL power with The
tenacious Kral I'll fenslAl duration. No
great wAa this power of wealth even In
lHGi-2.3, that, while IL refused 10 aid III
In cur hour of trial. II folded iss arms
and dictated the laws by which We re.
fns~d 10 rely On ourselves, even when
wc were forced 10 rrly Oh ourselves. II
forced w 70 print rcpndiAtion on the
back of every grecnbAck. II forced IA
to allow tho grccnback 10 bc slAndcrcd,
abused, aud calumniAtcd until II WAS
-a.t.....i IL. sx...s.x.l x.afssn 49, I.sa 49,.
half ita face. II forced ns. when tho
grccnhark was at itn lowest point, 10 Ii.
sue bonds bonds exempt from taxes;
bonds which carried privileges, bonntics
and exemptions; bonds, tho interest Of
which was made payable In coin, and
bonds. the interest and the principal Of
which was payable In coin.
Thus legislation and old prcjndiccs
created IN absolute demand for gold and
silver ~ money. We required II bc-
cause omr laws forced ~ " require II.
We required II because the foreign bal
Anccs of trade demanded II. aud custom
said wC must have u.
Aside from these demands, IL IL only
keeping mp y barbaric custom 10 treat
or 10 use either gold or silver m money.
II wonll bc sound policy to-day 10 do.
monctixc both gold and silver and only
nsc them ~ commodities. But, m We
posseSs these commodities In greater
quantities than any Government of the
world, w Gun Afford % treat them either
way, No long m W. exclude them from
superiority, mud make them, m they
must be. inferior To the grecnback. They
arc inferior. for they constitute but \
trifing part Of tho wealth, resources.
and production which make up the
hasis of tho grcenhack. But, II We treat
them m money, We must treat both sil.
yer IN well N gold ~ money. We have
agreed % pay interest, and interest and
principal of some VI our bonds Ia coin.
aud W mnst have the coin 10 do ~ We
agreed 10 do. Beyond this. II would l,e
d blessing 10 mankind aud heavenly
boon 10 labor to demonetixe them for.
ever.
Tho grrcnhaek In more valuable for It's
non cxlortallecharacter, simply because
VIZ can never stand IN fear ri any demand
on our treasury 70 como from foreign
source. provided the greenback ~ made
absolute mnney--ahove redemption, r.,-
pcrior 20 gold. and only issucd BY the
Government, for value, and only ~.
ccived liz payment for duties, imposts.
taxes, aud Government charges. fees,
etc. III ono sense, the grccnback II de-.
portable. It's credit In to-day m m.
tional, ~ well-detlned, and IN we'll
known In the money markets of tho
world m our bonda. Tho grccnback In
10 tho United States what the note oi
tho Bank of England IL 10 England -
man can travel with them everywhere,
subject only 70 the charges for ex.
change.
No one but fools. maniacs and hard.
shell bankers arc doubtful of the full
efficacy of tho greenhack, and, II the
Republican party and the hard shell
Democrats had not hargaincd them.
selves away 10 the Bank Association,
and pledged themselves 20 make l,O.
lilical battle sgsinst the grecnbAck In
favor Of national banks, thGyc would be
no such thing ~ opposition 10 their
universal use ~ tho universal money 0l
the nation.
Now and then there n 3 man of the
Inst century. who never reads, thinkA or
troubles himself with any idea of rcach-
ing beyond his own pocket, who looks
upon tho policy Of adhering to hard
money, simply because II - hard, and
In u lump, aud can l,e handled, and pos.
scsses what hc thinks In Intrinsic value.
This nonsense n beyond prayers. No
one cMn cat II. drink II, wcar II. breathe
II. or uSe II for any purpose Int ornA'
mrnlation, only - the law gives II
value. lts valnc IN arbitrary, like thsl
ol the diamond, not because of any real
benefit II may contain, but simply bc.
cause tradition and tlcapots have said No
.. Tho question - 10 this 7.3Os
belongs ~ tho past. They have gone
into the domain oi the by-gonc. They
were not lrgal-tGndcr money, and yet
they were used In place Of currency ~
money, being convenient for temporary
assortment or for use. Thcir withdrawal
waS equivalent 10 ! withdrawal u NJ
much currency, and thsy should have
been AubA titMtcd ~ grcenbAcks, ~ there
IN no nation or people who can carry OH
business OF maintain values with sucl
overwhelming reductions of currency u,
were made from 1904 10 1873. The
withdrawal of the 7.3A inhuencct
prices Ia tho same way that any othc,
withdrawal oi money would have duae
Lot us suppose tltl.0OO TO bc thc norma
sum essential 10 fair values. fair wages
AMI adequate exchange. Just III pro
portion ~ you rstluce tho $1,000
values will H. reduced, wages will bs
reduced. and exchange Win BE- enhanced
Money grows deArer - Il IL reduces
below the amount iairly required, Ant
commodities grow cheap IN the exac
ratio that money grows dear.
From is6b 10 lh7O the currency Ii
circulation was NJ iollowa: 1895, al. ~
lStai, tlSl.7O; i367, t,y6. a.; l6tiN. ~. IN
1862. elD.66; 1870, tiD.lO; 1879, tl7. ~
1877, tll.HO. The actual circulation 4
this time .loos not exceed 90 pr capits
The amount III circulation before Iii
~sN. 49, k..x@ A~At.- aAa1 a..