The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-07-06


aud II any ono Doubts this, lot him exnm.
inc tho dates of the iss,,cOi such treasury
notes (groenbacks) ~ hu mny have In
his possession.
While our Government IL issuing, TN.
der proper forms anl sanctions III law,
"papcr money!" politicians deny tho
right III tho Government To do NJ md
while they deny this power to Congress,
tho latter enActs that Nil such money
shall hc reiss,,cd indefinitely Oh its ~.
ception nc tho United States treasury.
This il the position Of politicians Of tho
old parties:
Tho dovernmcnt cant Issue money,
while the Government docs NJ.
Tho Government cant mako "papcr
money!" while II does make "paper
money!" II wisely intended To 10 tenn.
porary, while thcy enact Inv MAY 81,
1879 making 1t permanent.
Then again II il urged by others TINT,
although the Government Gun issue
money In time III unr, IL Ii unlawful Ia
do No IN tiMe of pence, while they seo
new issues uf II dated I'M late as 1881.
During our late wnr there was Il great
struggle 10 get money Ia carry on the
sanle, and Government issues were ~.
sorted Ia. In doing tins u surt III com.
promise hal to he made between thu
Government md tho Shyloeks IL Will
street, u most disgracefnl surrender.
And whit was it2 The Government
promised not a. isA,,e over $t5tl, OOtD, 100
legal tender notes, mud Ivy 40 promising
permission w,ss granted to issue Ia thnt
extent. hut not beyond II, with further
promise that il should not BIZ full legal
tender,
The Wall street power never offered
my resistance to tho legal-tendcr issues
bearing interest. although they Exceeded,
from 1861 IL 1865. tho limit III a. V
100000. above mentioned, over 81 400.
0oD, 900. Wall street does not interpose
t. prevent any issuo II money Of any
kind IL II proves 10 them specially
profitable thing, IN were the 7-30's, conn
ponnd-lnterest ,notes, one aud two.year
notes, and others that might h. cnum-
Grated ut various times III our financial
history. Money hearing interest and
bonds bearing interest are always wei.
como 10 Wall street, though ITO necessity
does nor ever did exist for their being
issued. They arr M evil, and that CON-
tinnally.
This accounts for their great love for
notes of national banks, and their hatred
Of United States notes or greeuhacks,
the former being based Oh m interest,"
bearing bond. the latter not !: yet the
latter has precisely tho same security
the aggregated wealth Of our whole poo.
pla
Tho usc Of grccnhacka for the past
twenty years instead of M interest.
hearing currency has saved our people
we'll nigh $iaa. OOO,nOO. and the same
amount could have hecn saved hal the
amount been extended Ia cover tho na-
tional- hank issues. This could have
been done, hut WAS not done, an,l il was
not done Ivy reason II Wall street in
fluence on Congress. II is IN insult TO
the intelligence Of our p.ople to say to
them that Congress- has not tho power to
issue treasury notes Ia circulate ~
money. hut can authorizes hanks 10 do
81. Tho whole paper circulation could
b. greenhacks. not hearing any interest,
and the amount could as easuv he
81. oO0. OOO, 900 as IL liz only S3i6,Oo
0OO, tho present limit.
i. II. STEVENSON.
100 Fifth az Pittsburgh. Ia