Weekly Chillicothe crisis., 1881-06-23

There dTe lOuT pTdCllCdl ISSUES Ol SUI
preme importance which the Green
back party presents TO the considera-
tiOn of the American people.
First: What kind of money we shall
use.
Second: The disposition of the
national debt.
Third: An equitable adjustment of
the burdens of taxation.
And fourth: The attitude of the
various gigantic monOpolies.
Concerning the first it may be said
in brief that gold and silver have
practically passed out Of the category
of circulation medium. Its exclusive
use is recognized us an impossibility.
1t is too cumbersome to handle, and its
volume too liable to imitation and con,
traction through the ever varying bal.
ances of trade with foreign countries.
The necessity of paper money of
some kind is now and has been for
many years recognized by the COM
mercal world.
The question is then, and it is a very
practical common sense one, what
kind of paper money shall we use?
Within the last generation there
have been used in this country, three
kinds; namely, the old state bank mon
ey, the national bank notes, and the
greenbacks.
The old state bank money grew out
of the theory basing paper money upon
coin--a theory which practice has
proven false and deusiye.
We assume that no political party in
the United States will ever hayn the
hardihOod to 60 before the people upon
Il platform advocating Il restoraton Of
the old state bank money. The prob
lem then is resolved into choice he
tween national bank currency and
greenbacks. Even at the present rate
of paying off the public debt it will he
only Il few years at farthest before
there will not be sufficient bonds in
existence upon which to base even the
present volume of national bank notes.
And the time is not far distant when,
even at the present rate of paying the
debt, all of the bonds will be wiped ont
Of existence. The extinction Of the
public debt, in itself, solves the nation
al bank problem.
What then shall be substituted for
national bank notes?
What shall we use for paper money,
if not the greenbacks?
business men may just us well look
this question squarcly in the face first
as last, for sooner or later it will he
presented to them for settlement. In
fact ii is presented TO them now.
II is folly, it is downright idiocy TO
postpone until the lust moment the
solution of the question.
The time to discuss ii, The time tO'
settle it, is now. The way to settle il
is TO discuss it before the people. The
way to bring it before the people is TO
embody it in Il political platform. 1t
should not be left to the control and
adjustment of an minstructed congress.
1t should not be left TO the banking
institutions. 1t should be left TO the
people,
We see in the future nothing better in
the shape of paper money than treasury
notes issued directly 10y the government
and made Il full legal tender for all
debts, public and private, rcdeemablc
by being received at all times on prcscn-
tatiOn for amy and all debts or taxes
due TO the general government.
Others may be able to point out some.
thing better than grccnbacl, currency.
We wish that they would at once step
to the front and give us the benefit Of
their wisdom. We wish they would at
once tell lis what kind of currency it
shall be.
TO pCrpetuatc and perfect this green
back currency; tomodel and shape the
paper money of the future, is one of
the main purposes of the Greenback
party. 1t is one of the objects which
they hope to accomplish. In attempt
ing it, in working for it, in making
sacrifices for it, they me accomplishing
us grand, beneficial and worthy IN OBJ
icct as ever any political party worked
for in the history of this country.
So far Greenbackcrs have the salts
faction of knowing that they have 50
far changed the current of opinion as
to save the life of the grecnbacks s-for
had it not been for them, before this
the last greenback would have been
cremated in John Sherman's resump-
ton furnace.
But the battle is only half won.
Not only must the greenback currency
be perpetuated but it must be perfect
ed by being made II full legal-tender
for all debts public and priyate-legal-
ly equal to gold and silver.
The next question to consider is the
question of the public debt.
On this question the agitation of the
financial problem has also changed the
current Of public opinion. Within the
last two years it was the avowed policy
of the government to perpetuate the
national debt by refunding it into long
time bonds. So completely, however,
has public opinion changed that within
the last four months we have seen the
bonds 50 changed that their existence
is entirely at the mercy and despotism
of the government. Instead of forty
and fifty year bonds, we have bonds
now that can be called in and destroy
ed at the pleasure of the government.
The work that yet remains to be done
concerning this question is to see to it
that they are called in and paid off and
not permitted to run indefinitely. The
government must not be permitted to
establish the "policy" of letting these
bonds run. They must be paid off and
that us soon as possible-the sooner
the better.
The next question is that of taxation.
AS the matter stands today three
fourths of the people who own not
more tnan one-fourth of the property
in the United States pay nearly all the
taxes, while the onefourth of the peo-
pie, who own more than three-fourths
of the property, escape taxation almost
entirely. This is unjust, impolite and
unwise. Justice demands that proper
ty should pay the taxes. Justice dc
mands that he who has $4,000 worth
| r. 4.