Weekly Chillicothe crisis., 1885-05-28
A Good Article from the Chicago Sen
tinel."

HTCtUDdChs, Udllbndl DdUh nOltS, anu
corporation scrip ("wildcat'O y and
promised to explain the relations Of the
three existing political parties thereto.
The wildcat" money was the kind
used during the rule of the Democratic
party before the war. 1t went out of
use with the death of the Democratic
party in 1860. We certainly do the
Democratic party no injustice in calling
il Democratic money.
And what assurance have we that
with the restoration Of the Democratic
party to power, this Democratic money
will not be restored?
BY turning to the Democratic plat
form of 1880 we find demand"for the
coin money of the Constitution and pa
per convertible into coin on demand
In the platform of 1884 we find this dec
laration: 1--WE believe in honest mon
ey, the gold and silver coinage of the
Constitution and circuldting mediua
convertible into such money without
loss"
According to this declaration of 1884
wv ohiN lhOlfN 10 Ebll anu
silver; the greenback currency is exclu-
ded from the category of "honeSt mon
ey." Whether it would be included as
part of the circulating medium" or
not, is not stated.
The only Democratic Judge upon the
Supreme court bench, Justice Field, dis
sented from the opinion Of the rest of
the court in the legal tender case de-
cided last year, claiming that green
backs were not constitutionally Il legal
tender.
After that decision was rendered Sem
ator Bayard the present head Of Mr..
Cleveland's Cabinet, presented n reSo-
luton asking for an amendment to the
Constitution declaring that nothing but
gold and silver should be legal ten
der Abram S. Hewitt, another lead
ing Democrat introduced similar res
olution in the House.
These, with other facts, point to the
conclusion that the Democratic party
is certainly not in favor Of the legal
tender grecnback currency.
1t is professedly opposed to the ma
tional bank currency; therefore ns if is
in favor of n "circulatinr mediumn or
some KIND, "convertihle into cninm IL i,
must follow that it still adhcres to the
system of a paper money based theorct-
ically upon coin-in other words, the old
state bank money, or wildcat mon
ey.
And what IL ,bnro IN birdor u,o
restoration of the old state hank mom o".
ey?
Nothino. excent n roneoI Of ,bo tom
per cent lax which wai imnoSnd m ;n 1se@ @
upon the circulation of state banks, in
order to crush it out of existence to
make room for the national bank circu-
lalion.
Let that tax be repealed, which can
be done as quietly and slyly rs silver
Than twelve n,on,hs o,,,. ,,,,,'''t,,. ',.,',i.
be flooded with another issmr ~ st"to
bank currency.
to,ho po,I,;, .. :.
wi,hon, Sarino PIu'"I ti'", ~ P"'ayn" SucS
"honu;o oro"s s'y ,nS Una. . lnnS parry Is the
1t is also true that il has persistentl,
tried to destroy the greenback money
ever since Hugh McCulloch and John
Sherman sold out the party to the ma,
tlonal banks.
The Greenbsck partv is the only no
litical organization that onnns9s nl
bank circulation--includinG both nn.
tional and state banks-and uphold,
and defends the greenback money.
The three parties stand. thcroforn -,
follows in relation to the three kinds ~,
paper money; '' "
Democratic party-state bonh ,oon,
Gu. ' "''''
po.rt,;,o ,, ,..,,,
on "''''"" parry -""'''''"' O""S mon
Greenback party-tcgdt tender green.
odcS'
Uoy;,o t,ll,. .,.i., ,.
greenbacks are by far not only the most
profitable but the most preferable pa.
per money that can be used' the next
question iS'
m no" m"cN "o"m Oe issued?
This is question upon which Green
Ti TIoheas themselves uilier IN opinion.
IN ne amount deemed necessary ranges
10 s50 ,nJ SEQ non ,"o odm;,o p"S'' yTluile ,T uP
tain the present volume all that neod
DC done Is to substitute $3.50, 100000 of
new green6acks for national bank
notes. 10 issue $50 per capita would
,eequiio new issue OF upwards oil one
ousau nrouon, uo,i,Ia m,llioaS-three , times the
~. L. D"N lo''',
,o,a 0no , enin Is unquesllohaoly true
present volume of business in Hi t6e Irntt ~
ed States. Another thing is lust a. un.
questionably true, and that is that our
country was never in as prosperous
q condition as when our volume of
currency ;,a was soV anu upwards per cap
'a,
.nd oi n'oi, was vas; 'nen Proh'aoly employed
anu wen paul
Farmers were practically out Of debt;
Manufactures flourished;
Taxes were easily and cbeerfullv
paid;
Everybodv. NJ n ruIo wos wol, fad