Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1879-08-25
LETTER FROM CAPT. BROWN.

'Hf GLOVER, VI, Aug 10, 1879.
Ed. Monitor Friends have called
my attention to the article of Mr.. Cheney
in your issue of yesterday, and requested
me to reply. 1t is not my custom to
engage in newspaper controversies and
do not wish now to do so, but if Mr..
Cheney will bring the figures or argu-
ments to prove his assertions ! will then
meet him. Assertions are not proof, and
unfortunately for his cause he has not
brought forward anything else, and he
has most enormously reported my state
ments. Every statement made in that
lecture l proved by figures, by authori-
ties, and by logical conclusions from
them. long ago felt this too impor-
tant subject to be ignorantly tempered
with, or one in which we should be led
by prejudices or partizan feeling. Friends
now propose to arrange for me to return
to Barton some time during the fall, if
they do so, shall then be glad to an
swer any objection that may intelligently
be brought against our proposed meas
ures. but would prefer that those objec-
tions be historical facts. rather than
the fancies of my opponent, as is the
case in the article of Mr.. Cheney.
May / say word in regard to a para
graph in the same issue of MONITOR?
In noticing the increase of the National
Bank circulation. 100000 during the
first week Of August, you say: (Which
shows that reviving business requires
more money! add. hence banks in
fate the currency. If this is true, its
converse must then be true, that scarcity
of money must decrease business. Then
the point-the only one l sought to make
in my lecture was that contraction of
the currency was the prime cause of the
hard times-is made. These began in
1855 failures in '67, and continued in
the crash of rs, and eliminated in the
general depression of business we have
had since that time. A revival of bust
ness cannot take place without an increase
of the circulation, aud restore that which
Congress has arbitrarily taken away.
From August 81, 1865 to October 8 !,
| 1866 the contraction was 1896, 8l5,318.-
81. or over 81, 100000 per week. An
issue of $2,000,000 per week shows re.
viving business. A contraction of ST..
100000 per week when business was al
the height it was in 1886 must Just a.
surely be followed by depression. The
fall of the barometer is followed by
storm, Just as surely as its rise is follow
ed by clear weather. But why neet
this issue be made by the banks ant
keep our debt the same? 100000
bonds now matured could have beer
paid in greenbacks, and we'd have saved
the 4 per cent. interest on them ant
lessened our debt Are bank bills bette
, than greenbacks Yours for the genera
prosperity, CAPT. II. H. Brown.
We give place to "Capt." Brown
: letter and leave him to settle his disa
} greements with Mr.. Cheney. In regar,
5 to some of the statements which tn
] Capt intcrlarded in regard to fnan
| cial schemes, we take the liberty t
! make brief answer. The most of on
: readers understand that the MONITOR
8 financial platform is about as follows
The currency Of the county should b
0 gold, silver and paper; gold and silve
: because no financial commotion or n:
b tional disaster can materially depreciat,
a or destroy its value; paper, because pr
y per is a convenient circulating medium
t and each a legal tender. The silve
e dollar should be intrinsically equal
S the gold dollar. measured by the world
e standard. Every paper dollar shout
h be backed by government. and shoul
S be redeemable in gold or silver. III
e volume of currency should be gagged
y the commercial wants of the nation, }
n the present system, or some similar sy
y tenn which will allow the increase (
It decrease of bank currency within reason
,e able limits. hiss % q t3si1I 1szlii1s
We are pretty we'll suited (and th
.