Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1879-08-18

government starting out on sea of paper
currency. He gave the history of the origin
of greenbacks, and the subsequcn! laws reg
ulating their issue.
In 1873, the panic came. 1t wasn't con-
traction that caused it. Our currency was
then 80 millions more than it was three years
before in the midst of the flush times. II
was reckoning day. II is sure to come. No
man can escape it. If You abuse your credit.
it will fail you when you want it most. That's
just what we had been doing.
The third great step in the history of the
grccnback was the passage of the resumption
act, and then the fight commenced. All
kinds of evils were prophecied for this coun-
try on account of resumption. Then the
new party sprang up. Then was born them
steers"
The speaker explained Secretary Shcrman's
refunding operations. He went on until he
brought the credit of the government so high
that weeks before the time had been fixed he
was able TO announce that every dollar
of our currency was payable in coin. Ev-
cry man that has grecnback or a national
bank note can get dollar for a dollar in gold
for il, all the world over. When left home
| presented n check tor 500 at n bank for
payment. The cashier handed me 500 in
gold. ! asked him if he could not give me
currency and told him I had rather have it.
He handed me roll Of money in bills.
As handled over those bills | fonnd that
they were issued by six different banks, and
that they were all as good as gold. in every
State and in the whole world. ] couldn't help
thinking of the old State banks, of the in
convenience of exchange-of the losses. 4
man might 90 tn sleep with 500 in State
bank bills under his pillow, and wake up in
Al. G.,I Al, l. IL,
every dollar of my roll of bills was worth
500 in gold everywhere.
That is resumption. care nothing or ma
tional banks, but do care for government
that protects the currency for its people. That
is resumption. Has the worst come If it
has the people havn't found it out. One
thing they have found out, 'and that is how
good it is. Gradually, silently, but surely,
has been stealing into all mems minds.
that we've settled this thing. That we've got
a settled currency: we are going to maintain
it and the gates of He'll cannot prevail against
it.
Mr. Hale made great hit by reading from
two sides of the greenback Bangor CONNER
cial. On one side was speech by General
Warner, maintaining that the business of the
country had gone to smash and equally mourn
full resolutions of a greenback convention. de-
flaIlHS tlltt TIC DuslIiees ucpitNsIou was itdl-
full and unparalleled. He then read in the
local and Geographic news Of the same issue.
accounts of the starting of new factories and
industries in Bangor new business operations
in different parts of the State and testimony
of business revival from all parts of the
State and testimony Of a business revival
from all parts of the country. In order for
greenback newspaper to be success. said
Mr.. Hale it must not publish the news
The effects Of resumption are being shown
by increasing business everywhere. Nobody
need fear for the future in regard to these
questions. The ingram honesty and good
sense of the American people will come out
uppcrmost
Then two great questions are before us.
The first-that of national lfe-is of majes-
tic importance. 1t is like lIamlcts ghost.
1t will not down. An uprising of the senti-
ment of the North is the only thing that will
settle it. The other question. the question of
he nations honor, was settled by resumption.