, 1879-08-21
! and safer bank currency than VIC ever ha1 IN
tfs country, but as good mud as safe as exists In

back. ''''' - ''''' ~
THE voLuHH or GOVERNMENT FArEH MONEY
must necessarily he tlctarnined by law; t),at Is,
~ utiF care. br tho opinion OF majority OF
meInbers Of Congress, thc Executive concurring.
Once 80 determined. It remains fixed md rigid,
90 matter whcltr the husnPss Of the country
demands more Ut lcss currency Than IA ont, tn
tlntanottlrs legislative sctsnt It can he changed,
and then II remains liked Anl rigid again. For
It cannot be assumed tint tt,c Executive would
he tntFusted with The discretionary power to
contract nn1 erpantI It at pleasure. II is not
necessary to dtscusa how this would work with
such paper currency, i conver.lbc Into cola,
fnr, rs I hn'e af'1"i',, the plan Of the OLo
Demucracr tends cfearly anil inevitably to mnkc
olsr Erccnoacks tncop7crsibfe again. Now, i'm
aglno what the consequences would he II the
lnanc!ers uf the "Dhfo idea" school we're IN
possession Of the Government, aud intsustel
with the power 10 determine according to their
notions how much money the country Is to havo
In circulation frntn time To time! Hut eyen un-
der moro propitfous circumstances tic volume
of the currency would depend upon tho int OF
politicians. atl'l. therefore, be more or 1ess cx
poscd to tile nstI0ri OF motives and Influences
foreign to The bHsincss interests Of the country.
II would constantly fomaln TIC subject Of IN
certainly aud agitation; and, as every sensible
n,nn knows, such uncertainty and agitation can
never fail 10 be highly pIcjud[cial to that con-
ldcHcc WHICH IL necessary tor the succcssful cou-
duct Of business.
1t Is not so Will, Nattona,.bank notes, The
" strlct system Of retempt!on, will adjust II
self to tho huetuatfnE demands OF business
Without the interference Of this Government.
ab Mes ots u. . se NJ %hen s'pi. srs VII i And t
cess It will flow back upon the banks for re-
dcmptlon. The gentlemen Of th" Ewing per.
kuasiOn need not indulge In the foolish fear tint
tue eanks Tl t1y 70 mike m9ney BY unnexes
not In that way they eau make money On the
contrary, the tendency will rather be In the op-
poEitr direction, md II Will require very strict
s, s.a reliable systsm o. redemption to restra.
Nntonnl.1,ank currency viii be entirely Btlf-au-
justius; Il will be reliably governed by the
wants of trade, and. therefore, the best currency
1T g q Ana .ns
to destroy. They want to destroy II becnusc. as
they say. Y costa len u.itlions year. The reg
ulator ln a'stean-cnElne costs something. You
can sayt few du!ars In buying an engine With
out a regulators but only 4 foolish mau will
target TINT the regulator saves hundred
trnes Ills cost In the worltfnr Of the m nachinc.
lile constant nnd mlsch!crous agitation OF the
Ohio school uf Democrats for the obstruction Of
the Satfonal.bn7k currency and thu Substitution
VI gTeenback. may, lluwrver. serve one good pur
pose. 1t will al lust convnco every sensible
man TINT. as long as government paper cur
reucy exists, tile agitation for an expansion Of
TINT currency will never cease to dtstliEb the
public mlnat to threaten the maintenance OF
specie payments, to endnuger thc public cruh!t+
anu 10 undermine thnt FOUNDATION uoon "tifch
atone tHe pl's!ness o. tae co0htFF can falcly
stn1'd,-a soun n,onctary fTsteh II wlli at
last convince even thnt ciass o. ~ell-meanihE
men who' althonch III fayor q honest money
have been atiecteu by tllat sentimental idniatry
Of the grccnoack which has confused 50 many
,llnde that; a1ler nlf under our lofstitntiol; as
IN every wcll'reEulntcl polty, 1t Is not leciti-
mate function OF ttie GoFernsneht 20 ot oauK
OF issue; tat IN the public interest II IS ncces-
eatf 10 rake the Folume " Inc enFfeneJ out OF
politics; tlnt II 70 TIE business OF tlc ttosern"
tnent to coin real money md nor 10 print notes.
10 see that the coin struck In tue minis be nt the
STANDARD! valre; to prerent and punish counter
telling to reEulute the banking esstcr1 by II"
60 as to make It katc: to act as q bans-eomp-
trniler 80 ID to kccp 1t ic,-i'id, fnr TIM res,
10 ct currency n'li trar In their relations take
care o! themselves WITHOUT arbitrarily interfering
'sis0 eitl'cr ....-. ....-..
THE SILVER QUESTION.
Tie last device by which tl,e Ohio Dem ocracY
designs TO prevent The tr,n establishment OF 4
sound money syste,n III this country Is the uu-
limited coinage o{ silver % lr.al.t tender, aud
this Is thu pa anc Of what 10 called bl.metullisn
or the 20 ordination. uf gold and silver Us stand
ard. ut value. The eilver lullar has by law
been made again lrsal.tenlcr together with
tslt gold lluilaT. Whate yrr dispute there may
bn ut,,,,,t fhr fa.I.,n,