The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-02-06
THE OalOIDE
AS EXPoUNDED AND ELUCIDAT-
ED BY A PROFESSOR.
Resumption Viewed aud Reviewed from Green
back Staud.POInt- Abolition Of the Nation
al Banks the Great Deslderatum--
No NOnOpOlles 10 be Al
lowed to Exist.
Washington Post.l.

writer OF the Clnclnnatl Enquirer, ID u
guest at Wizards, and, Ike most men
from the West is full of theories and
things, The Post, which hungereth afer
information, put it's ciphon into Mr.,
Spears inner consciousness last eYening,
with the following effect;
"What is the Ohio idea Of which the
country has heard 30 much Of lateP"
"If you read the Enquirer, as all good
citizens should, you would have no oc'
casion to ask the question:" replied Mr.
Spear, with lofty dignity.
"But l, in common with about thirty
nine million nine hundred and ninety
thousand citizens of the Republic, do not
read that interesting sheet, not for lack
of interest, but for lack of time, hence
must confess to ignorance on the point
presented"
"The Ohio idea,' in my opinion, upon
the currency question to-day is, that the
right to make money properly inheresin
the Government alone; that means no
banks of issue"
"Would you have no banks ?"
eyes, banks for banking"
"What do you mean by that"
"That the right to do banking busi
ness and the right to make money are
widely different things. The first.uam-
ed the banks alone mast do, and the lat
ter the Government alone should do"
"Then l am to understand" said the
able financial reporter of the Post, "that
the next campaign in Ohio will be war
on the National Banks2"
IL can't speak for the Democratic par
ty of Ohio, but think the fight will be
made for Government issue that shall
be full promise to receive, and against
all banks ofissue."
"Boil down your proposition" !" said the
Posts sagaCious young man.
II will it is this: That the Govern.
men of the United States shall make all
of the money made in this country"
"HowP"
"Well, how do the National Banks
make itW
The Post feloniously and falsely re
piled it didn't know, in order to give
the Enquirer man some needed conf
dence.
"Ill tell you then," said the editor from
the West. "They make money, secured
by Government credit at last, and re-
deemable in Government credit at first,
and receive a premium of about SIS, ,000,
900 year for doing it,"
"But what have you to say of the sue
cess of resumption%
Drawing himself up, and wrapping his
toga about his manly form, the able edi'
tor said; "There is no resumption, there
is not even redemption; it is only equali-
zation."
"Do you favor the Sam Cary fat fool
eryP"
at is the redemption that's fat more
than the greenback."
"What do you mean by that?" said the
Post.
THAT the National Banks have but
$4,000 900 in coin, with 1922 100000 of
circulation, and that the Government has
probably much less than $150,000,000 OF
the coin available with which to redeem
$347 900 900 of circulation. Besides these
two immense sums there are S2000,000,-
900 of deposits in the banks of the coun.
try, and these $2,670,000 1000 of promises
to pay are at last redeemable in these
$3.50, 100000 or thereabouts in coin. call
that fat resumption" said Mr.. Spear,
with gush of sarcasm that would have
utterly overwhelmed Long John Sher.
man if he could have heard it.
lis your 'idee' Democratic"
"The Democratic party is the historic
foe of special privilege, and the right to
make money is the most enormous ofall
special privileges, Over yonder is the
Patent Office. 1t is full of testimony that
the right to make machine is monop.
oily, and the Government says that after
a time the right to make that machine is
free to all, The right to make book is
monopoly, and the Government makes
copyright laws, but presently that right
becomes free to all, such is the prejudice
against monopolies man has no mo.
nopoly Of product of his own brain. The
interest on intellect ceases in few years;
the interest on money never ceases The
right to make money is a special prvi
lege, swallowing all others, and should !
belong to all the people, to the nation"
"You would give this power to Con-
gressW
Congress has always had it. If the
power over money does not rest with |
Congress it rests nowhere, and this is al
most the language of the Supreme
Court"
"Wouldn't your Government money
be rather unstable in value ?"
make it full promise to receive by |
the Government with rational limits up |
on its volume, and no holder Of green
back note would lose a dollar while the |
Republic stands" ,.. |
"But suppose the Republic shouldn't
stand%
"All laws are silent amid arms in the |
time of war coin may be confiscated or
captured, aud all property melt away"
At this point the postsaid to Mr.. Spear,
"WhO is going to be the next Governor
of 0hio" and that able editor remarked,
with great vehemence, "NeYer mind that
now; haven't finished the financial top. |
ic, and can not to night" Gust mark it
to be continued and call again to.mor-
row." said our fat fnancier, as he deftly |
drew the drapery of his couch about MIN
and pointed with his index finger to the
hole in the wall that is sometimes call.
ed door.