Louisiana capitolian., 1880-07-24

and powers Of Congress to issue such pa
per in the management of Its finances, ac-
cording to the mostrigid rule of constrn-
ing the Constitution.
Jefferson, also said in lsl3
The States should be applied to, to
transfer the right Of issuing circulating
paper to Coagyyw etciasiyelNin perpetnnm
II possible: ~ Bank paper must be
suppressed, and the issne Of tho cjrcn-
lating medium restored to the Nation, to
whom it belongs. Treasury bills bot
toned on taxes, bearing interest, or not
bearing interest, thrown into circulation
will take the place of so much gold aud
silver; Let banks continue, il
they please, but let them discount for
cash, tcoin] alone, or for treasury. notes
In regard to your reference repayment
ofthe entire national debt in Greenbacks.
| refer you to our platform, to show you
that we arc not proposing such meas
ure, while many Of us believe it would
be cxpcdient to do so; yet we do claim
that the vast sums boarded in the u. $.
Treasury, amounting to near 5000, ,Ooo,-
600, should bo used in the payment Of
so much Of THO bonds falling due.
Your comparison as to Peru falls flat,
without force in argument, as we are
not to be compared to Peru in point Of
resources, or even financial policy. Peru
has issued promises 10 pay coin to such an
extent that it is well known she cannot
(for perhaps ~ few centuries) fultill the
promise, even If she have tho peace and
prosperity. We propose no snch things
We have ample resources, u magnificent
credit, and u governmental revenue OF
about 5000, GOO, 600 annually; and in is
suing q reasonable amount Of treasury
notes, based upon tllisrcvcnuc, VIC know
they would bo moro secure than bank
paper, which latter under our present
system is endorsed by the government
while issaed by corporations, which con-
troll its volume.
In conclusion, ! would say, have
offered % few reasons why VIC cannot
work for our reforms inside Of your
party. There arc many more that time
will not permit mentioned. You have
proposed, through Mr.. Bayardt in tho
last Congress, to retire tho %o,Wo,ooo
of grecnbacks yet in circulation, thus
leaving tho way open to supplant it
with bank money; and through Mr..
Fernando Wood to rcfnnd'tho $3.50, o,OOO,-
600 of tho bonds soon to mature. We
oppose both these measures. Your plat
form is evidently not in favor of assail-
ing tho National Bank system, 'and does
not favor governmental control Of issue
Of paper money. Tho money power il
controlling tho party machinery OF your
party, as of the Republican party to suc]
an extent as to stltlo tho voice Of thu
voters in your ranks, making reform I'M
possible.
And We arc emincntly justified in re-
ciprocating tho courtesy extended It's b,
you, and of inviting you and every pa
triotic rcformcr in your party to lcav,
it and rally with us around d platform
: Of principles designed to Secure the bless
ings of liberty and equality to tho grta
} masses of our people. In Gen. Weaver
we hayc as pure and as gallant lcadc
, las can bo found in any party. Then
come rally with us, and in tho grca
struggle now going on be found on tin
side of the people in their effort to eman
cipatc the pro'luccrs Of wealth from IN
duo scrvitudc. to ~ heartless none.
0 power and system Of corporate mo
T nopolies that must, if continued, reduce
/. them to q vassalago but little less THAI
:. slavery. Come, join with us in an az
y gresslve fight; tho schemcrs cannot b.
$ defeated by endorsing their schemes
Come, join with us in libcrating our bc
loved country from mercilcss foe, ant
future generations will rise up to b1cs
:, you. -
p A. B. BOOTH,
Secretary Parish Central Committee
National Glccnback Labor party.
j.