The comet. [volume] (Jackson, Miss.) 1877-1882, 1879-05-24

uul oJuoT hluuf6u interests OF the OOuI
This accumulated stock of gold and 81
coin and bullion, would make the b
for the issue of three times its aggre
amount, or say, nine hundred millions
dollars in tho United States Treasury no
These notes should be the only paper
: cognized by the Government as MOI
National Bank notes should be retired
rapidly as possible, but i'll way not to
~ turb the business of the country any
ther than such change would necessa
require.
What then should be done with tho II
hundred millions of United States Treas,
T. notes and how should it DO dssemina
among tho people so that the greatest &c
may be conferred on the greatest numbt
y am very frank in saying that am ,
terly, entirely, and emphatically, oppos
to making large appropriations to works
internal improvement in Mississippi or a
where else as means of relieving the mo
: etarY distress of the country. Tho rene,
: does not reach the seat of the disease.
! fact, it il almost as absurd as to give OF
! man banquet to appease another man
hunger.
l would apply the remedy directly to
visible disease, or give food directly to I'll
hungry. If man had boil ON his nos,
would not treat him for supposed gol
in the stomach. And if he complained {
hunger should consider it downrigl
mockery to give some one else dinner an
tell him to appease his appetite on til
hope that he might get part Of it, if h
were obsequious.
The idea of voting hundreds of million
of dollars to great works of internal i'm
provement, with the view of appeasing tn
pupular demand for profitable labor doe
not square with my idea of justice in Re
publican Government. The people are no
dogs to look longingly on, and pick W
crumbs from the masters table. Imperial
France under Napoleon the Third, adorned
and beautified Paris at enormous expense,
not because Paris needed adjoining and
identifying but as it was said to give en-
ployment to the people. The real object
was to strengthen the Empire by keeping
the turbulent element quiet, we have no
such element in this country, and there is,
therefore, no reason for applying any such
remedy.
The farmers are starving in the midst of
plenty. They get no adequate reward for
their labor, and the proposition is to spread
a splendid banquet for great corporation,
and associations to be paid for
by the toiling millions, and if any thing is
left after the lords have Toasted then the
servants may come in.
propose to reverse all this. The pro-
ducers are the lords, the consumers are
'hear servants. 1t is nice business that
these great contractors should have their
millions of the peoples money; and the
people who make the money be told, "you
nay have little of it back, if you will
work for it,
l am not opposed to internal improve
nents far from it. On the contrary, an
or them, as the hand maids of commerce,
nd the promoters of general prosperity.
But when proposed in form that suggests
he idea of jobs-that is, schemes by which |
few men may grow rich, and the millions |
et only what they work for, I reject them
8 great National swlndles, and assassins of |
ublic morals.
But pardon me, must postpone what l
ave say on this and some other subjects,
ntil I get through with the currency.
have no patience with any man, or any
arty, that proposes to flood the country
18th irredeemable promises to pay, or
hat is just as bad, promises with no fixed
me for redemption, and no adequate
cans provided for their redemption even
the distant future.
A private individual who puts his notes
l the market in that manner and in that
brit, is generally considered swindler.
nd l know of no reason founded in ethics,
common honesty, why a government
ould be exempt from that rule.
IT. has haan said tbot 1ubotauap ba cyox,
nment declares to be money, is money.
1T us test the soundness of that theory.
declares soft soap to be money, and fixes
value at dollar pound, and makes it
legal tender in payment of debts. A ,
major or Representative in Congress
entitled to salary of $4,000 per ,
mum. Do you think he would be will
e to accept his pay in 5000 pounds of soft {
ap? And if he had contracted tailor bills,
tel bills, and bills of other kinds, to be ,
id in dollars, do you think he could soft .
lp' his creditors out of their honest dues?
ZEN how many pounds of ''fiat money!" :
It is soft soap, would it take to buy
liar in gold, or dollars worth of any i.
ng else. We had trial of this sort of =
in the latter days of the Con- !,
eracy. While our armies were yet in the y
d. but when the tide of battle set strong a.
linst us, -four sold in Richmond at twelve =
ndred dollars barrel. 1t could have .
NJ readily bought for five dollars in sill :
:. But you say the Confederacy was !,
tering and almost ready to fall. True, II
there was the ''iat.' People were or =
ed to take SO )nfederate" notes, or take 10 10
hing. They did take them, but at what + +
IS? Flood the country again with ire Il
mable paper; issue government ''fat," e.
Ort of imperial edict, that the people ~ ~
Il take it, and they will take it, but at ~ ~
1t rate? That is the question. -,
lave the people 30 soon forgotten that :,
colossal fortunes of the "bloated bond W
lers" wore made by buying U. S. Bonds q
4 currency, when it took one hundred w w
fifty, two hundred, nearly three hun ~ ~,
/ cents in greenbacks to buy single ~ u;
ar in gold? Initiate the currency again Ia
of all proportion to your ability to pay,
we shall have all these scenes over u
in. Pay day will come by and by, then Vi
shall have distress worse than we have l..
now. Fail TO pay entirely and your W
lit will go out like that of the Confed- az
Q States. Plenty of money for little W.
Ie, and then none at all. When it is too az az
we will find that we have indeed killed y,
goose to get the golden egg. a. a.
DIN is money. Paper is Its representa- WV
dollar for dollar, just so long as it is ho
yertable at the will of the holder. 10 10
IN it loses that quality it becomes a a.,
modify for sale in the market Just like ~
of calico, spool of thread. pound w.. W.
pap or any thing else, and all the flat s so
Congress or any other Legislative body ~
issued or ever can issue can make ~ ~,
ing more of it. AZ
lper money so called has no appreciable WY WY
nsic value. Its value consists in its OF
sentative quality. If million dollars W. w
bid or silver is sunk in mid ocean, the AZ. AZ
d is poorer by that amount. But if ~.
anne amount in paper money is burned a mo
the world has lost moth =; Su .
the persons who held il may have lost,
the bank, State, or corporation that 49,. :.
ID it may have gained. But the gene ioT
-ealth has neither been diminished, or
,ased. ml6
any thing is to be made by accidents like .re
}, or other causes which prevent the s sn
n of paper money" for redemption, n .ns
lie Government in which we all have any any
lual interest make it. 81