The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-04-27

AChicago newspaper that makes large
rresension 10 financial wisdom, While il
displays lamentable lack Of il, has the
following TO say Of the greenbacks:
There are NOR. reasons than one Why the
grventAeks should he permanently retired
They -honld l< retired not only becAu~e they
encourage the SORT of gambling called specu-
lataon. tut because the currency question vii
stay N politics - long - they stay IN c,rculAr
tioa.
Every person Who has had quarter
of reniury's experience or observation
knows that encouragement Of that sort
Of gambling called speculation j. the ~
suit Of advancing prices induced by en-
forced or uncontrolled imitation of the
currency: and that panics are the result
al failing price. produced by con-
traction OF the currency volume. Tho
present period oi stock and other gam
bling sp.cnlations may ~ traced direct
" 10 the extraordinary influx Of gold.
Which has 90 inflated the mass OF cir
calating medium as to send prices TO
gildy and dangerous height in certain
lines.
No one denies but that grernhack in
TIE W0A c&Ax&1AAAtS*A AkAs
healthy speculation, Just ~ gold insiA-
tion has stimulated speculation now.
but the fault Was not the greenhack
then nor tile gold now. but the lack Of
l.7nlvr system 10 regulate both the cur.
rn.s solame and pr,cea. Tho a4g1-
nent against greenhacks viii apply
With equal II not stronger force 10 gold
coin, for the latter cannot he controlled
hy laws hut i liable % extreme flnctu-
atluus from it, exporfahle and import
able qualities. Nor viii taking the
greenl,ack ont of circulation keep the
currency question out II politics. for
the same political element that nou op-
poses their retirement viii he largely ~
insarcei for their reproduction ~ the
exclusive paper currency of the country.
The only way 70 divest politics OF the
currency question - 10 provide by con-
st,tuiional amendment but one variety
II legal tender. and that 81 an inexporf-
able caaracter. No legal tender should
II authorized whose material may poszi-
lily become more valuable as an export
commodity than = domestic medium
ot exchange. So long - the precious
metals are acceptable Is an International
exchange medium. let them be kept and
used for that exclusively, but not 10 en-
ter into domestic circulation 10 swell
and shrink pric~s and unhalance trade,
as commerce ebhs and lows between
this and foreign nations. the currency
question viii remain In politics until We
have = common. sense system one that
VII aid in building up and not in tear.
ing down the productive forces of the
country; one that viii serve the people
Is we'll as corporations. and reward the
toiling producer As well as the accumu-
lator Of wealth: one that will serve a.
teol Of labor rather than . weapon 81
capital.
The currency question will remain In
politics Is long as the public agency Of
exchange remains under the control Of
private interests.
Til. Government alone is competent
ID .xsrcis. inpartislly the powers Ut
sovereignty. and 10 control all matters
OF pnhlie interest IL Is said that Con.
Rre~s Is not competent TO manage and
control the currency question, but he
who says il ussers treason against popu-
lar sovereignty. Ii il Is hot competent
~ ktafpse WITH THIS NucStiou. VI llctc
Is single sovereign prercsative that Is
safer il individual hands than in the
hanis CT Congress. then representa-.
tive government Is failure, and the
sooner its powers ARE farmei out 10 cur
poratlons Of experts the better. Let
there be established oonfedesacy of
feuaal manapolies. each independent
and sovereign in its own sphere. Let one
have absolute dominion over the cur
r-ncy. another over frelghts and passen-
gers, another over the transmission OF
thought. another over land, another over
arf,ficiariight AMI beat, and another
over war. Let ali useful powers be
monopollxei by private interests TO rob
the millions If sai,ers and wealth pro-
dnoers. leaving for I'll. latter the liteless
form Of the republic, while it, spirit is
IN bondage Tine tAkingof the currency
question out II politics and trlegatine !,
70 the banking monopoly would he = step
toward such Journalism, aid when once
taken the balance will soon follow
fhieays Express.
Rack. Renting.