Louisiana capitolian., 1880-08-17
THE GREENBA0K THEORY.
No National Banks, No Bonds.
WHAT THEN :

ciOusiy certain doctrines or measures
constitutes truth, then we are read,
to couccde that he is eXemplifyine
the maxim of Socrates, for we believe
him to be wholly in earnest.
But the lsraclitcs arc rs sincere in
their faith as arc the Christians, tlIt
Mol.an,,nctlans, or even the itlOlatcrs
and with all Of these between, equally
certain that theirs is the faith, where
is the unprcjudiccd man who can say
there is the truth!
So that, with as much sincerity as
MIR. Booth, we can very properly nd
vance other views and claim the same
consideration that he is entitled tn
receive ut the hands OF our readers
and leave it to them to say which one
of the two champions the safest
financial and political doctrines.
MIR. Booth tells us that We were in
error, when we Informed our readers
that II fusion betWccn.Dcmoclats and
Glccnbackcrs had been agreed upon
in Maine. In reply, all VIC can say,
is, that our only source Of otintorlnation,
is the press Of the country, from
which We have rcad and rc-rcaQ this
assertion without having yet seen any
contradiction. As he belongs to the
Glccnback GcScl|shn.0, or the inside,
if he will permit to calllt, Of That ring,
he is of course in u better position tu
know.
We will even, on the strength Of
his assertion, say that the fusion docs
not exist.
This being the case, the necessity
is more apparent for all lovers Of Con
stitutional liberty to rally around the
banners Of Democracy, if they would
overthrow the party Of hatred and
Capitalization, led by Garfield and
Arthur.
As to Mr.. Weaver, whose praises
he has SO we'll sung, we must shy
that until Mr.. Edwardy's Alabama
revelations are completely rctutcd
We cannot but consider him anything
else than a suspicious character.
Mr.. Booth complains of the Na'
tional banks and the bondloldcrs as
monopolics which arc reducing the
masses to Il condition of scrvitudc, al,
most. This is u very bold assertion
indeed.
'Tis very we'll to advance the idc;
that unlimited coinage and tic ISSUE
of Il sufficient amount of Treasury
notes, would do away with the pay.
mcnt of interest on the National debt
and relieve thepcople Of their bur,
thcns. We would that we could be.
licvc that such Il policy might make
every citizen happy and rich, all al
once.
But we can't believe it. What
would follow then. The cl'arterine
of free banks?
That's not what it's cracked up tC
be either; for have we not the exam
pie under our eyes Of the most fertile
lands in Louisiana, lying idle, the
property ofthe old Citizens Bank, Il
corporation though u private one,
which has wrought more ruin upon
our planters than all the National
banks put together. And besides,
does not every one remember, how
the free banks, would occasionally
fail, leaving their worthless paper III
the hands Of the holders?
The National banks may bc every
thing that Mr.. Booth says Of them.
Yet their bills arc as good us the
bonds, and these as good us gold and
silver.
Until IL sure substitute can be de-
viscd, it were better in our humble
opinion, that we should think awhile
before VIC do away entirely With the
present financial system.
Far from objccting to bonds, Re-
publican France, for instance, has
issued them by the milliard, in order
to fund its debt and bc enabled to
maintain u currency on aspecic basis,
as the circulating medium among the
people, the working classes especially.
Has Mr.. Booth forgotten the gold
spectators of Wall street, and the
rnu,},lovS IN Stutc rurn.i,;o1 ,,,.1 mn