Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1879-08-18
be Treasury and into the hands of those

the Treasury and into the hands of those
who need money. There is no doubt but
an issue and a circulation of sum of |
legal tender, much smaller than the sum
demanded by any extravagant greenback
er, would depreciate the value of all legal |
currency and send things purchased by
it up with a bound. But there is moth
ing short of another war that can unlock
the treasury and send food Of money
into the country. With vast war, the
amount expended for military supplies
and paid to soldiers would be sufficient
to make money seem plenty again. We
do not need another war, even for that
purpose.
The next important proposition by the
speaker, was that government bonds
should be paid by uncurrent money.
This is an impossibility as we have now
no uncurrent money. Bonds are paid,
either in greenback, or national bank
currency. or in silver or gold. as demand
ed by those having them for sale. Sec
rotary Sherman in his speech on finance
says: 'They (the greenbackers) demand
ed that the bonds should be paid in
greenbacks /; they insisted this should
be done, though the payment of bonds
in greenbacks would have increased their
issue above 100000, and in VIOLA
ton of law, bringing United States
na4ns into ,,4ar.,nt.,n1- d;AhaHnr and denra-
cation, but now they have been SO paid
by resumption. All the fve-twenties
and ten-forties redeemed this year
amounting to $537,OOO,O00 have been
paid in greenbacks, as have been the in
terest on the bonds, and customs duties
The speaker labored hard to show that
gold is fuctuating medium, and char
acterized it as an "India-rubber stand
ard" but did not tell US anything about
the fdctuating tendencies of inflated
paper currency. After abusing the gov
eminent for causing, as he thinks, a
scarcity of money, he makes a somersault
again by blaming government for hiring
money on its bonds for 4 per cent, say.
ing business must be at low ebb when
money is loaned at so low rate.
The national banks were savagely de
nounced, and their immediate destruc
ton was advocated. The speaker die
not show how the business of the country
could be done if the banks were sudden
: ly closed up. Perhaps he would advocate
| the Canada system.
Being cofronted with Secretary Sher
mans reports of the amount Of currenc.
in the country as disagreeing with hi
. own, he denounced Secretary as liar.
The record of Mr.. Sherman durin,
> the progress of resumption, compared
with the record of leading greenbacker
e will show who are liars and who ar
| false prophets, and an intelligent pub
= lie will know which of the two to- trust
t There are something's beside straw
:, that show which way the wind is blowing
!. and we may judge of the animus of tn
: greenbackers, by seeing who are thei
: allies. We know that every Confederat
e brigadier, and every man who voted
/ pension JEFF. Davis voted for infatio
> and against resumption every time, an
the same parties voted for every meas
ure which would embarrass or injure th
government, which they sought to destro
- by wicked rebellion. 1t is matte
, of record, that the South have lars
amount of war claims which they inten
to make government pay when they ca
" get the power to do so. Hence the
willingness to join hands with any fat
tor or party that will divide, no matte
Q what the cost may be, the republica
party of the North and get themselv'
into power again. Does this accoul
for the advent of greenback orato
among US; talking dolefully about hal
r. times, greenbacks, etc., seven montl
= after resumption has taken place, al
: where there is general revival of bus
= all over the country? F. P. CHENEY.
: Glover, Aug. Is.