Weekly Chillicothe crisis., 1885-05-21
WHAT DO YOU WANT
This is the Question which Many
Earnest Enquirers are Asking
Greenbackers.

We closed our last article upon this
subject by asserting that the Grccnback-
ers 'have fought the Republican party
in the past, and now must fight the .
Democratic party" ltmust not be in
ferred that there is no further occasion |
for fighting the Republican party. Our
remark had reference to the fact that |
the Democratic party, being in power,
had it in its hands to play the mischief
with the greenback currency. The Re-
publican party must be kept out of
power, because ii is, as we have shown, |
the enemy OF the greenback, the Demo-
cratic party must be put our of power
for the same reason.
Last week we showed the unequal
but successful fight which the Green
back party has made to pcrpetuate the
grcenback currency.
The question is now asked, wherein
is the greenback currency better, or
more advantageous to the people than
national bank notes, Or other forms Of
paper currency.
1t is better because:
lst. 1t is good and has uniform val
ne throughout the length and breadth
of the United States. One does not
need "bank dctcctor' to find out
whether Uncle Sam is good or not. The
banks may break but the notc-holdcr
never loses.
ID 1t is 4 legal tender for all debts,
public and private te--cXcept the interest
on the public debt and import duties.
Since Jan /, 1879, it has been received
for import duties. In future article
we will explain why the exception
above noted was put upon the Green
back.
81. 1t is safe and sound because it is
based--not upon gold and silver-but
upon the credit of the nation and every
dollars worth of property in the United
States that can be reached by taxation.
Every dollar of it has n "DaSis of more
than one hundred dollars worth Of
property.
4th. Whatever profit there is in isSu-
ing paper money accrues to the gov
ernment and thus lessons taxation.
9th. That it is bond of union be-
tween the peoplc-North, South, East
and West-who hold it; for every man
who has it in his possession is interest
ed in perpetuating the government that
issues it.
9th. 1t places the control of the rol-
unic Of mOncy-the most important fra.
ture Of issuing mOney-withm the hands
of Congress where it properly and con-
stitutionally belongs.
9TH. 1t is the money of Civilization
Progress-and the American Rcpub.
lie.
The above qualities possessed by the
greenback currency, the exception
of the first enumerated, are possessed
by no other paper currency. The ma.
tional bank notes are good and of uni.
form value throughout the United State,
for the simple reason that they are
guaranteed by the government, That
fact alone (although one of many pos
scssed by the greenback) is sufficient
to make them pass current with the
people.
The experience which this country
has had with paper currency issued by
private banks is of such dcplorablt
character, and Of such odIOus memory
that it ought to be sufficient guaran
tee against its restoration.
1t may be briefly said that rs n cur
rency II waS"thc sum of all villainicS. y
It's value iluctuatcd cOnstantly;with fey
exceptions its value diminished in pro
portion to its distance from the iSSuin.
bank; bill holders had no certainty tha
the roll of bank bills that they had i,
their possession in the morning woul
be of any value at night; theoretical
based upon coin, as II rule the coin ba
sis was less than One-ilfth the face o
the notes, and frequently there was IL
coin basis at all.
II was, however n great source q
profit to bankers. 1t enabled them t.
issue their own promises to pay in un
limited quantities, draw interest upo
them, accumulate property, fail W
steal the coin deposits and skip out 70
new fields.
As it was source of profit TO bank
ers, there is secretly u desire anon
bankers to-day TO see that old "wilt
cat system Of banking restored. W
shall hereafter explain how it may b
perhaps surreptitiously restored.
But whatare the objections to natior
al bank currency, it is asked?
With the exception of greenbacks tn
national bank currency is the best pan
er money that this or any other countr
ever saw. 1t is good rs we cxplaine,
because it is guaranteed by the govern
ment.
And we will stop to ask right her
and now: II the guarantee OF the goy
ernmcnt is good enough to make Il ma
tional bank note good is it not goo
enough to make its own greenback
good?
An intelligent answer to this que.
tion would settle very quickly the cor
troversy between the advocates q
greenbacks and the advocates of na
tional bank notes.
While we concede that national ban
notes constitute a good currency, W
are compelled to notice several very Sc
rious objections, which are as fol
lows
list. They are not legal tender for tn
payment of debts. They are not NOR
ey; they are merely the scrip of prlvat
corporations made good by the guarar
tee of the government.
I'd. 1t gives to national banks tn
control of the volume Of currency; the
can initiate or contract the currency &
their own selfish interests may dictate
d. -