The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-10-13
WENDELL PHILLIPS.
1Ae esscne Rseformerss ldeMs o. the
ErcoMback Movements.

e;rceMback nOvcmemt.
The dreenback party demands that
tho Government shall issue all tho cur
rcncy. The power Of the currency il too
great one to be intrusted to private
corporations. In the memorable debate
Of the Commons. 1919. Ricardo said
" Bank Directors regulate currency and
80 fix prices, most formidable
power;' and Calhoun, Oct. 8, 1887,
says: "This puts our dcstinies in
their hands" Again, Sept 10.
1880, he warns us Of this peril. Jeffer-
son writes to Eppes June %, 1913:
Bank paper must be suppressed, and
the circulation restored to the nation, to
whom it belongs."
The dreenback party has come to the
conclusion that there ID no need to tie
the currency to specie. Paper answers
every purpose. The plan and notion Of
a specie basis, at any rate in this country,
has always been sham. Mr.. Sears, Of
New Jersey, well styled il I" bankruptcy
organized. A New York bank Presi-
dent, the late John Earl Williams, said
the attempts Of banks Of issue and de-
post to keep specie " always have been,
and, IN the nature Of things, always must
be, failure" It is only device to en-
slave the money market to what Chat
ham called 1.-THE cannibals Of Change
Alley Nearly loo years ago Franklin
declared that where two nations had the
same basis for currency, the debtor
nation wonld be the slave Of its creditor
Ia statement Of which Boutwell, felt the
truth when, Oh his proposing to bring
home from London $40, GOO, 100 or $780,
000, 600 Of gold belonging to the United
States, the Bunk Of England pre-.
vented it by threatening, il he did SO,
TINT they would cripple every bank in
New York. AIr. II. Q. Cary has saved
us m Instructive ailecd0te:
Tin 1913, Mr.. Albert Gallatin, then
President Of the North American Bank
Of New York, at convention OF bank
Presidents said pleasantly, but yet
most truly, We nil know that, while
bank note bears upon Its face q promise
to pay the amount Of its denomination
III coin, it carries with it tho implied
condition that it be not asked for. !"
The Greenback movement is a revolt
against system of finance which rests
tile power Of imitation in the hands Of 4
few hundred bank directors. and let's
them play with values ut their pleasure.
This Greenback movement IN its es-
sence il the assertion that, when our
fathers settled it that the people were
competent to govern themselves, they
meant to include among the points as to
which they were competent the question
oil finance as we'll as Of marriage, crime.
real estate, wills and other matters oil
government. The Greenback move-
ment is 4 revolt against the notion that,
in ordinary matters, tho people can
govern themselves, but Oh questions of
finance they must be kept under per-
petual guardianship, and be the wards
Of the rich men and bank directors.
Some men cali THIS movement delu-
sion aud ianaticism. What is fanati.
clsm2 1t is prejudice-obstinately
cllnging to theories III spite Of facts that
disprove them. Let us ask, then, who
to-day are the fanatics, judging by this
rule? Look at facts the world over.
Whenever, during the last century,
either oi our great nations has seen It's
existence threatened by civil war or for
eign assault, instantly that nation has
run to tue shelter Of paper currency and
generally been thus enabled to survive
the storm. This is TACT, not dream.
Does il prove that paper money isneces-
sarliy rum and shlpMreck? Does it not
rather look as if u paper currency had
some quality III 1t that called forth to
I! 9 last dollar the resources Of people.
md SO simulated their energies that
they could avail themselves OF I'LL their
possible and hidden power? When q
lan strips 10 tight tor his lie, he puts
himself III the condition and posture to
60 Lis best. When the nation glrds il
self for the last desperate struggle for
existence, what does history tell us she
mas uniformly done2 History tells US
that 4 natl,n III such extremity has uni.
formly thrown OF every incumhrance,
stopped every drain on her resources.
stimulated every possible power of pro-
dnction; economical all her means and
guarded herself Us carefully rs possible
from all interference with her business
prosperity. How has she effected and
secured all these? History answers !:
by resorting to paper currency
The mass Is uneasy
because uneducated men betray and
capital plots to ruin them. "The capt.
tai OF the country is organized at last,
and We shall sec whether Congress will
Care to fiy in its face this is the most
msolent tone Of the press. II it did not
str indignation and provoke resistance,
We might we'll despair Of the republic.
We have more than
enough Of the babble and chat Of "sup-
ply and demand" That is political
economy which forgess God, abolishes
hearts, stomachs and hot blood, aad
builds its world as children do. out Of
tin soldiers and blocks Of wood. Here
every man reads, votes and carries arms.
The physical force, the voting majority
and large share Of intellectual ability,
are in the possession Of the employed.
Hence such questions are far more COM
plicated than in countries where despOt-
ism holds iron sway over disfranchised
ignorance. Equally out of place and
absurd is the argument that capital will
only pay what IL pleases and that labor
must submit. That is slavery. The
millions employed in mines, factories
and on railroads have usually that one
trade aud no other they cannot easily
shift into any other employment. Very
few families Of workingmen have means,
when turned out Of work, to travel hum
dreds Of miles in search Of new employ
ers; hence the majority of the employed
are chained TO one place and one trade.
Saying to such men, "You will have no
voice in fixing your own wages, and you
shall take what is offered TO YOU or
starve," is slavery. No American will
or ought to submit to that. II the day
ever comes when by any means Ameri-
cans are obliged to submit permanently
to that, republic will here be impos-
sible. The only just, safe and lasting
basis Of peace is that which calls labor
into conference and allows it o full share
in settling the rates of wages.
We abhor and denonnce all violence.
every assault on private right or prop
erty. on the liberty Of tho individual
workingman, aud. above ali, on life.