The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-03-08

the decision!' asked another gentleman.
After referring TO the attempts of the Democ-
racy to reduce national taxation by reducing
the tariff, and remarking that said attempts
would probably fail, and that the govern
ment would continue to purchase the bonds
which are the basis of national banking
which would result in withdrawal of the cur
rency notes, he said These bonds are now
the basis of national banking. The with
drowal of bank notes will cause
contraction. Then there will be a
cry for the issue Of more greenbacks to
maintain the circulation; and as these green
backs will be according to the supreme court
decision, legal tender, they will, | think, be
popular, but the next move will be to make
them receivable for customs dues. Why mott
If they are money, as the court says, then
they ought to go as money, and it is impossi-
BILE to argue that what the government may
pay out as money in time Of profund peace,
remember, it ought not also receive back
| That Of course, strikes at the governments
source of gold. But in my belief before such
action shall be taken we shall already be
| substantially silver country. The drift is
now that way.
If were jealous protectionist," this gem
| L
over this supreme court decisionn
| How does it bear on that subiects"
"In this way" be replied. THE object of
protection is isolation. It's aim is to create a
barrier to the commercial intercourse-the
exchange of products-between this and
other countries Now, radical difference
in currencies is one of the strongest and
highest barriers. If we should become a
silver country we could still trade at par
with other silver countries, and most of those
lying south of us are silver countries But
if we become a greanback country
that viii hamper all commerce
We have never yet had that ex-
perienGe. The government has always re-
quired gold for customs duties and paid gold
for interest. Suppose, what is the logical
outcome Of the courts decision, congress does
next year what prominent men of both
parties have repeatedly and recently asked
to be done-make the duties payable in legal
tender notes; what then. Then our COM
mercial isolation will be tolerably complete.
We shall have our own money, a so-called
legal tender, here, but nowhere else, useful
on some terms in the home market, but &C.
ceptable nowhere else"
| But you do not suppose the government
, would pay its interest in legal tenders!'
sit need not 1t can, Ike the old woman
J in the story, borrow enough money to pay al
, its debts. In what do you suppose the inter
, est will be paid when good deal of gold i,
drained awayl myself do not pretsnd t
| know, but it win require a courageous score
r tary to buy gold VIXEN lie has silver in tht
vaults, which silver is made by congress alst
legal tender All can say is this, that il
my opinion the unfortunate decision of thu
D supreme court seems to me to authorize US tt
1 do all manner Of dishonest acts Whether WI
shall do thsm, that no one can foretell but i
certainly gives great advantage to the But
Ter kind of demagogUes. As our politics go
Il it exposes US to constant attacks upon tn
Z currency in congress; and then what de
you think yourself9 Do you believe it viii
4 raise the credit Of our government OF on
/ bankers and merchants abroadf # / wer
o still a merchant, as | once was, should pu
t all my business on gold basis at once, max
> all my contracts for gold, and keep my banl
Is account in gold. Fortunately, by an over
u sight of congress this IS, l believe, still al
al.