Evening capital journal. (Salem, Or.) 1888-1893, 1888-05-18
4 FEW QUESTIONS ANSWERED.


c,r,paign. am a recent SUD
scriber to your paper, but ma ...it Iilat
YOU discuss political matters WIN
fairness and often to the prOIJ Oh
vOur readers. What want 10
| know is why greenbacks would not
be a GOOD circulating medium, ana
Uhv il would not be right to substl-
tutG paper as currency for our
uresent gold and silver coinage?
The wear and shrinkage Of the royal
metals is said TO be considerable, ana
a man. when he has TO spend money,
does not want to makea silver mine
of his pockets. As / understand II,
the graenbackers oppose the use OF
gold and silver as "A currency; why
Is this not sound doctrine?
d. NJ. A.
AUMsvmLE, May 18th.
Paper money, redeemable in gold
or silver, il in use by all commercial
nations, and, as a currency, Is not
only sound but convenient. But
! the greenbackers want to make 1t
| irredeemabe. That is to say, the
ten or the hundred dollar bank bill
Is not TO be held as promissory
note, payable on demand, but 10y
the fiat Of the government, endued
with intrinsic value. The green
backer plan is to hold the entire
property Of the country, real and
y ,rsonal, rs security for its paper is-
sue; and with this secure basis, to set
the treasury presses a-going, and
run of paper money enough to sat
isfy the wants Of all.
This is very absurd, Of course, but
the idea was formulated with the
intention Of relieving the rapidly
growing west, particularly the
farmers of the ruinous drain of
interest on the money they owe. A
whole literature has been printed on
this groenback doctrine, and several
bright minds have been at work
with u view to reconcile 1t with
financial science. Wewill endeavor
IN Il brief sketch to show what the
grccnbackers now aim at.
1t II customary to talk ofthc rapid
increase of wealth In this country,
aud to contrast the prosperity of all
classes Of our population with our
less fortunate fellow creatures in
Europe. This is ground for gratu-
htion, no doubt, but there is
another side TO the question. Ia
every city In the great northwest
loan and trust companies abound
which offer money to the impccunc-
Gus ON proper security, This COM
modify Is 50 much i'm demand that,
we are told hy "a well informed
eastern writer the trust companies
in New York, Massachusetts, and
Pennsylvania hold farm mortgages
uggrcguting over one billion dollars
in value. Many borrowers pay from
! t,1l NOR ,,rt +, month intrre.t but
ir,,. 1',nr, IN, int,r,.t on This Inn.
.r,,n.. ind,ht,dr,ss ot nm ,v,ray, of
to,,,r conf , y,,, a., have f., com
t,nr,t, an nnnpnl dr,innme of
SIoo ooo ono from mon fine minority
G,r IA, ,st unr,, v,,rs
hay, b,,n devastated with floods
dr,utb and incI,ment winters
I'M, gr,,pbncler ia,n is IA r.li,vc
IA, hnn,y,risb,1 class or This
rpip,ps hprl,n bv m,Liny IN,
,,,.r,u,,t ,h. ,r..iit,r man 4.
e.,
''"""'"''" Oh p'"''''s government
agent at every county seat To whom
applications for loans arcmude. He
Ia y,y,rn,l h,. am ,pr,.,iser,ert
"'N''" "' UNIV 'NlN''"''" "usl'''SS
men, who view the property offered
as security, aud II their award is
n,,p,bl, ia. m,p,v IL l,,p,a m,
,,,,,i' 'r,.',','.I... -.
l""'' '"''"' '''''s Use" '"' ''''s puI-
ls~,, mo- proht Is sought the only
!. l.. D