Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1879-06-17
THE FUTURE OF THE GREENBACK
PATTY

EAhA /.
The champions Of the Greenback move
ment i'm those states where IL was formida-
ble last year are very confident that the
next elections will show a decided increase
OF their vote Undoubtedly a great many
men who oppose the heresy have the sam,
impression. They see these leaders very
active They ind their cheap literature Oil
every hand They hear OF their missionary
efforts i'm The rural towns. They note The
enthusiasm of those who make up their
conventions Noting all these Indications,
they are forced 10 the conclusion that the
hereSy has not Vet had its run.
AMER making full allowance for the above
indications. We are inclined 20 the opinion
that those who predict aCCc>SiOnS 10 the
Greenback party in the coming fall cleo
tions DO not give due weight 70 the differ
euce between the conditions which existed
year ago and those of the present time.
4 wear since. for instance, the Grccnb2ck
advocates declared that il was idle 20 talk
OF specie resumption, and that the attempt
10 resume would result in ruin % all bust
ness and enterprise and end In failure
Resumption has taken place. The Govern
mcut notes are equivalent 20 gold. There
j. now but one currency in the country 10y
which values are measured, and that i the
currency of the CONNIE rCial world. The
country passed from q iiuCtuating currency
% one based upon coin without "a jar. Pay
inc gold 90 all who demand IL, the Treasury
today contains more gold than IL did Jan
uar; =, 1874, the date Of resumption.
The Grccnback leaders predicted a fur
Their >hrinkagc OF values when resumption
was attempted. The contrary has been
the result As soon ~ people fGlly under
stood that specie resumption was not 4
myth. the price Of most property and COM
moditieS began 20 slowly recover, conf
dcnce began 20 return 10 business and
business has improved steadily until the
present time Instead ufbringing disaster
resumption has been followed by more
hopeful condition in nearly every branch OF
industry than has existed since the inha-
tion bubble burst in 1873.
Again. the GrecnbaCk leaders told the
people that specie resumption would be
Followed by q scarcity of money aud eXOr-
hitant rates of interest. The opposite has
been the result. The day that specie pay
meutS were resumed all the gold which
was az that time a commodity became
money and was added 10 the money supply
ofthc country, thereby increasing the stock
OF money between $3.50, 600, 900 and $780,
uQO. 900. A. 10 the rates of interest, IL Is a
well known fact that money has not been
50 cheap at any time in the history al thu
country a. IL has been since last January
\ year since a large number Of voters
entertained the views advocated by the
Greenback leaders. They now see that
none of their diretul predictions have
proved true. On the other hand, the Oppo-
site of what the Greenbackers predicted
has taken place Specie resumption has
proved a blessing. At least, il has been fol
lowed by a widespread Improvement in
nearly every industry aud a feeling OF gen.
eral hopefulneSS and courage.
We believe that there are thousands OF
men who voted with the imitation party last
fall who are now able 10 see that specie re-
sumption has proved blessing rather than
a curse. We believe that when the time
comes to vote they will be found quietly
voting with the party that has given the
country a sound currency and the assurance
of business revival These men voted
quietly with the Greenback leaders last
wear and agreeably surprised them by then
numbers. Next fall many OF them viii
give the leaders of that ephemeral move
ment another surprise, which will not bt
50 agreeable. They will De counted on the
other side