The comet. [volume] (Jackson, Miss.) 1877-1882, 1879-08-09

nav endorsement, dominated ana oohVro iI';,i
as II IN by the National banks, anu you VIZ
and that either through a eon',iyoI Iuu
cial decision, or directly Dy ivs's, ,'S tha
your nreenbacks will DO wipea QUIZ any NV
money power will give you Just Us IuSn ~ os
as little paper money Tor your o" ,'oI,,ss ~
il pleases, and will regulate tn0 ;, s'' VI
vour labor and property 10 sun ,'So ~. M
Our experience has demons.l"'ou ~ ~
matter how plentiful may DO tho soppA9 ,Ha
gold and silver, the greater palS "a ,aanar
money actually current VIII AWAY 20 opi,"ront
On the volume of money acouus ,,or and
will always depend tho prices ., &c a" ,r;cos
ooi' nv and IA it falls they SO down.
nno hson over A fiftieth part OF the aggfe-
gate value of the properly Oh une o,u o
vet. when the money in aotual ,hat no.
Is te -, shr;nks the value OF labor ana
property to fifty times the sun ~ ' onrrent
ptoP 20 melton and so when the current
renoy ;s ;ncreased a hundred millions, II
n saa sftv Hnes that sum to the aggregate
a AUS, NV yya,ne of other property. so, too'
when the volume OF cnrren9y III hns;ness
and prices consequently ran, t a., 1 ,Se nur'
becomes unprosperous; whiio , wnoA r;se and
repcy is being increased tai"'1 Tha ,,owor
,oneS 900 hecomes good again. Inc power
ouSi l,stro, The volume of currency, atectlnS
W ? ~ Los so profoundly the general pros
Us i. w. 10 in its nature o sovereign power
perry, .o Il, Of the people demands that
tne "o 10 avnand or contract the cur
thls pV y, roise and lower values, to give
''aSysr;tv or inaict distress, shall not ~
pa";tted to the hands OF private lmui-
oomnil'' or cornorstions, and least OF all 10
snr,,orot;ons representing the holders ol
lpt,;a and priyate debts, whose wealth. ID
i puD by every fall of prices ana Id
orniao5 NV the Government alone, IN sucn
oi0,S "ar v az shall give to the debtors, tax
liann- md industrial classes the assurance
psS;,sti,, established and stable values: IL
t,nc ~ three thousand private corporations
wa as thew always do, in the interests
a az tbe holders of money securities, are per
el;.tod 70 control the volume OF currency
- 49,, ,,easure, there is no limit TO the IL
49, and loss they may intict on the people'
~ - the wealth they may themselves acou-
.Io+a hv hidden and concerted measures
- a~nonsion and contraction OF values, II
,nos nrecisely this danger that leo oeneit
VS. r. rosist the incorporation Oh the nrs'
S I ~ tbe United States under Washln8-
49, administration, and to oppose the 10,
WI Of it's charter under Madison; ana
nJ% led Old Hickory to make his grand
"nd spccessful fight against the re-cnar'ei
of the bank. 49,, .ooD ooa;nst giyine
.;,'ota corporations control over tne
ip,,ir,,,e of currency, it il to be oore IA
'o;nd tba, the substitution OF legal tehuel
.naos,,~v notes for bank notes VIII, even
800 r5fnndinp. save to the people at iGas
.ar wilton of dollars per annum' wiz
, ~ troosurv notes so issued III place "
Hnt;onaI bank notes, United States oonul
w. ba bought in the market ana canceieo
o ond the interest thereby stopped; wnile tn'
. n c. onernnent will lose nothing Whatever II
tauos, Nv snch substitution, except only the
."o1 ,,or cent. tax on circulation, that peiht
81 dr,lv ta, which National banks pay tna
w. 80 noid by all other banks OF deposit
a. I;,ao,,rt and exchange. Had the hepuD'
I;nan ,,artv desired to diminish as rapioi.
t as ,,osaible tho public debt, it would Wnel
a .Ie u,ar ended. have prohibited the lncorpo
: s VIZ NJ any more banks of issue ana graz
!. ,'oIly constituted Treasury notes 1of pam
: ,'otoSs-~the mower to make such SUBSTITUTE,
/ io,y;no heen reserved in the National Dan
l ia" r. they had thus promptly given III
',ao,,,a an exclusive Government curfehc
+, ,,loce of bank notes, our bonded deD
,ro,lId now be at least seven hundred MN
e ions loss than it is. No reason wnlcn VIII
Y Lnoro moments consideration can be gave
u Nv, this thing should not have been done
t NJ -, rrptends that the greenback Wnlc
j. ,o1oo,ns the Matt onal bank note IS not PEI
o 10Y tban the thing it redeems. Inere ls ou
It ono ' reason why It failed to thus reduce I'd
: an And that is this That these wv
It thn,,oond National banks were needed
e tbe norty as breakwater against the PEI
Il Ia Hance since the close OF the war, u
}, ppeonle have been practically rooDeo
n ahont seven hundred millions OF COLLARS
vt nrevont them exercising their free oholce
l. hair own servants. Another DAD Ieatul
e ~ the National bank note system Is that
st ,,arnetnation makes necessary the perpe
d ip,ation of the public debt, because par
e noias are secured only by the bonds OF II
ID limited States. Any reduction OF the Doh'
outstanding trenches on the means OF g.
It nansion of the system, while the paymel
!, IF the whole debt would destroy IL. nen'
o The Republican party, as the 1aithrul 30
6 want of the money power, has SHOWN l
ct 40 Cerness to reduce the debt, put aiacri
If ~ ircraase it, while on the other hand u
lie interest of the people demands, IN inc ia
I'd onaoe of the Ohio Democratic platIorl
lg Sthot the further increase OF the pona'
If debit in time of peace be stopped, ana I'll
lie II be mt in process of extinction
D have thus hurriedly discussed the ciain
rs made by the Republican party IN pehali
st its finance measures, and the position take
in nv the Democracy of Ohio IN It's late
III nIatform, respecting them. l am qui
es Willing to submit to the decision OF u
be neonle on these issues. am sure tna1
IN overwhelming majority of the voters
IN Ohio think that the Republican par
CO should be expelled from power; that JUST
at and sound policy demand the restoratl'
to of silver to its old equality with gold as
d, money metal, that the General Governme
es ehould issue all the currency whether p
OF ner or metallic, and that our great NatloI
MS debt should not be increased, but as so
in as practicable paid off according to t
ID, letter of the contract. The Democr
nd ic marty of Ohio, and fve-sixths of II
a marty throughout the republic, stand unit
It. on these propositions, while the Republic
nd Marty stands solid against them. NO
lse whv should the men of Ohio, who agree
these great fundamental measures OF rell
II. divide into two parties and thus def
them? can't vote themocratic ticket, 50
m A, because the platform don't declare
es- an income tax. won't vote it, says
yer because it don't go for an increased Voiul
,al of nanor money. l shan't says @, becar
ass II don't declare that the legal. tenders issu
of in Mace of bank notes shall be redeema'
Mo in coin coil nor says D, because it don't
asst that they shan't be redeema6le in coin;
h, saws u. because it don't 90 for protecti
ID. tariff nor I says F, because it don't
Oh, against protective tariff. But all of thu
be gentlemen, from A to F, admit and rect
Ter nizs the overwhelming importance OF
lch three great financial propositions which
ION platform does declare, and admit that thu
or three propositions deserve to be made
est prime and immediate objects of effort.
ub- it not. therefore, the part OF wisdom
ion drop or postpone the less txigent questic