The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1879-08-30

limb ON the field of Kenesaw. Happily. that
war was not waged in vain; the Union was re-
stored and fast welded Not a star was lost
from the constellation of States and now with
in one of three times thirteen stars shine in
that galaxy. But we did not wage war for the
Union to break down the States or to overthrow
any of the safeguards of our liberties We did
not fight battles that the President might have
power to send the bsyonet TO the polls or call
up suddenly armies of irresponsible officers to
interfere with or control elections Liberty
and Union must go together.
But there are those who insist that war of
sections shall still so ON, and some people who
took very long range view of the war, and
very distant interest in it while it lasted boldly
come to the front now, and insist that there
has not been fighting enough. For one, | con-
Tess do not share that feeling. Gen. Hooker
has well said that tho soldier has enemies only
IN war; but the hates OF the politicians are per
petnal. That is what Is the trouble now. 1t
Is not the men who had the battles to fight that
wish TO keep alive the hates aud animosities of
the war. 1t is the politicians, who hope by ap-
peals TO prejudice and passions and the use of
partisan election machinery to perpetuate their
hold upon office, and to continue that system
of finance by which the people have been
robbed of their property, and labor heeced of
its earnings.
Gentlemen, despise and believe every
true soldier despises, the attempts of mere
political traflickers to open fresh wounds al
Ieauy uedleu Nnht good, L pray, 10 man,
woman or child in this broad land can come
from such sentiments or acts? But, appre-
hend my friende, there will be but poor
showing of that Traditional bloody garment in
this campaign. What picture it's flourish
suggestsl There, AT the front, when war was
upon us, were our gallant leaders, with their
lives in their hands, plupgipg into the hell of
battle to save their country. Yonder, far away
beyond the sound of the loudest gun, the other
chosen leader, displaying his bolt of calico
already 62 cents and going higher Now,
when the war IL over, and all it's fruits gath
>red and saved, our leaders, only too glad, OK
tend the welcome hand OF peace; while our
good citizen who leads the other side has just
got his martial ardor stirred up, and seems to
think that there has not been blood enough
shed, and, with shake of the red flag, says;
Rally once again" l would say nothing to
reflect personally upon the Republican
candidate; but we must be pardoned If
we are forced into little derison at the
tactics, our opponents resort to. For,
instead of using arguments, they raise
the old war-cry or the cry of aRebel Brigadiers'
in Congress, and charge that, failing to break
up the Union with arms, they seek now to &C
complish this purpose in the halle of Congress-
leave it to you If this is not the burden of all
their speeches and their answer to every argu-
ment. A charge more false or more unjust to
Southern Representatives in Congress could
not be made The demand for the repeal OF
partisan election laws and to prohibit the use of
South, and feel called upon on tdis occasion
to say, aud do say it with the utmost SINGER
ity, that in all that now concerns our common
welfare one nation aud one people believe
the Representatives i'll Congress from South
Carolina or Georgia are ss true as sincere, to-
day as those from Ohio or Massachusetts If
they have more soldiers in Congress- than the
North where is the blame? They certainly had
no more in the war.
Perhaps that old rhyme,
God and soldier all men doth adore
In time of war and not before;
When the war is DER and all things righted,
God is forgotten and the soldier sighted,
if less applicable to the South than to the Re
publican party in the North
Since the war, and especially since the con-
vulsion Of 1873, questions of currency and debt
have absorbed large share of public attention.
Nor is public solicitnde likely soon to be with
drawn from them. They are not subjects that
down at our bidding. Property, business labor
and, with not few, the very means of exist
ence are bound up 10 them. For the past five
or six years this country has suffered a business
paralysis, in severity and continuance unlike
any depression ever experienced before.
And if we ask what has been the compensation
for the tremendous sacrifices of these many
years-the destruction of our industries, The
bankruptcies. the losses of property, the heart
breakings-wh will be the answer? Resump-
ton? Not fairly. But greenbacks have been
made equal III value to gold That is what the
Secretary of the Treasury boasts Of That is
the maGaaDi bcRum. In one place in all the
United States-one place in thirty eight States
and nine Territories-one place between the
Atlantic and Pacific oceans, between the lakes
and the gulf-where if a man brings $50 10
greenbacks he can get gold for It'll Neverthe-
lees, no ono questions the fact that
coin and paper have been equal
lied But have the banks resumed specie pay
ments? Can we all have our choice as to the
kind of money we will take-gold or paper9
In England, France or Germany one can take
his choice everywhere in every transaction,
and the result il that large percentage of the
common currency of those countries is coin.
We are long way from that kind Of resump-
ton in this country, and cannot have it with
$3.50 COG, 600 land which may be aUy sum larger)
of bank notes redeemable in gag, 00O of
legal-tender treasury notes. so we may at
once dismiss that phase of resumption and
confne ourselves to things as they are-paper
made equal to coin.
How has that been accomplished? Surely
by no process that patent can be claimed on.
The paper currency has been reduced in vol
ume until there is no more paper money in the
country than would be about our share of the
worlds stock of gold if we had no paper; and,
having been made receivable for duties, it has
been made to do all that gold could do within
the limits of the United States.
For it is a we'll settled principle in monetary
SCIENCE that if any country using paper money
limits the volume to an amount not greater
than would be the share of metallic money that
would in the course of trade fall to it, then the
Daper money, within the limits of such coun-
try, would stand at a level with the metallic
money. That is just what we have done Our
volume of money now, if we count every dollar
that actually forms part of the circulation,
gives not more than sl4 per capita-less rather
than more than that.
AS long as the revenues equal expenditures,
the coin locked up in the treasury, together
with greenbacks held specially for redemption
purposes, must and will, under existing law,
remain in the treasury as a hoard, and, while
so held it no more affects prices and can no
more be properly counted as part of the circula-
ton Of the country than so much not yet out Of
the mines.
The population of the world using gold as
money Supplemental with more or less sill
yer, it may be) is about 800, 000 600 and, taking
out few large boards that ought not to be
counted, and there's probably from 81, 000. 000,-
COO to 81, $50 100000 of gold money. If this
were divided evenly (but do not say it ever
would beg it would give about S14 per capita
for this whole population of 800 000,000 or in
the neighborhood of 500, 000, 900 for the United
States. This, if not exactly, sufficiently illus
trates how our currency has been brought to
an equivalency with gold. Let us note here,
also, that the only way to maintain the equiva-
lency Of paper and gold, or gold resumption, if
you please, is to keep our volume restricted to
the gold measure, which means that prices
must be kept there, too. 1t must be plain,
think, that if the use of silver was co-extensive
with that of gold, the distributive share of the
two metals that would fall to the various coun-
tries embracing the population given would be
much greater than when limited to gold alone,
and, by as much the volume of metallic
money would be greater than with gold and sill
yer, by SO much might the paper VOLUME be in
49, .tn. h..