The patron of husbandry. (Columbus, Miss.) 1875-1883, 1879-10-25
GOOD TIMES COMING AS A RE-
SUIT OF INITIATION OF THE
CITPPFNCY

suit OF INITIATION OF THE
CURRENCY.
DIR. T. A. Bland, the well known advo-
cate of Greenbackism, and one OF the
most zealons and industrious writers IN
the Greenback cause, sends the following
communication in relation to the cause OF
the increasing prosperity in this country;
1t is evident that the dead-lo OF nara
times is broken. 1t is important that the
people should understand the cause. Re-
publican organs and orators of the igno-
rant and dishonest classes tell us that re-
sumption did it. But the intelligent, truth
full men and journals even of that party
unite in the opinion expressed in the toll
lowing quotation from the Boston HeraId
of 9Th inst:
1.-THE initiation of the currency, by the
production and importation of gold and
silver, is felt in every branch of business.
This is better than imitation ofirredemable
paper, but there is some danger that it will
wise our people not to yield to the temp
tation of the hour beyond the point of
safety, but to go slowly and surely"
The whole secret of the rise in prices
and consequent impetus to business is
rencv is rapidly increasing and has been
for some months past The balance of
trade with foreign nations is for once in
our favor, and gold and silver coin and
bullion are coming to our ports in pay
ment for our products at the rate of S7,-
900, 900 per week, and of course while the
way from abroad the products of our own
IN al 1otn
ton at home; hence the aggregate volume
of currency is increasing at the rate OF
over $500, 100000 per annum.
Resumption has had nothing to do with
bringing good times, but it will have much
to do with putting stop to them through
another panic at no distant day if the pres
ent system of finance continues in force.
Let US see if this is not logically sound
proposition.
Before the panic of 1873 money was
plenty, consc luently prices of labor and
its products were higher here than in Eu-
rope: hence the balance trade was against
us, and the precious metals were leaving
our shores in a constant stream. Instead
of supplying its place with legal tender
paper money, our Government adopted
system of contraction with the foolish
purpose of resuming specie payments.
This at once brought prices down at such
an alarming rate as to paralize enterprise,
and throw thousands, yes, millions, of our
people out of employment, and the wages
of those still employed were greatly re-
duced. Those who had no work had
nothing to buy with, and those whose wa
ges had been cut down had less to buy
with, and naturally our home consump-
ton fell off in proportion to our poverty
AS the soil continued productive and sea
sons good, agricultural products accumu-
lated, and as we already had large sur
plus Of manufactured goods of various
sorts on hand and some of our factories
continued to run at starvation rates, and
as our gold and silver had nearly all gone
to Europe and was still flowing in that di-
rection as fast as it came from the mines
Europe grew rich while we grew poor.
England, France and Germany finally be-
gan to pay their paupers and serfs better
wages for work than we were paying our
working people, and said
PAUFERS AND sERFs
began to buy the food and clothing pro-
duCed here, and for want of which our
people were starving and freezing. The
stream of American productions will con-
tinue to flow abroad until we get money
enough to raise prices here higher than
they are in Europe, and then the tide will
turn. Their productions will come here,
and our gold and silver will go back there
and, if we continue to insist upon coin
basis for our currency, another panic is
inevitable, and that within few years
This is the history of the past; it will be
our experience in the future unless we cut
loose from that barbarous and despotic
idea that our paper money must have a
coin basis. The financial system adyoca
ted by the National Greenback party, and
by the masses of the Democratic party,
and by the honest, intelligent men of the
Republican party, would, if adopted, keep
the good times booming and save us
from all danger of another panic.
We have been telling the people for years
that what is wanted to restore good times
was more money. Our opponents said we
had plenty of money. Our position is be-
ing indicated by the fact that the good
times are booming just in proportion to
the increase in the volume of the currency.
Now, we say, if you would avoid another
collapse, keep the volume of currency up
to healthy condition by making our pa
per money interchangeable with but not
redeemable in coin. I. A. BLAND.
THE GREENBACK.
We want a currency that will pay debts
tavac .at mar dollar for dollar