The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1894-11-02

IreenDaeK craze 80 ulSreSpoct1ully.
All! ma! What was it that saved our
country from financial Iuin aud disrup-
tlon, In the approach to which we were
lett by the imbecile aud cowardly Demo.
cratic Administration OF James Buch.
anan.
what was 1t we repeat, but the "Oraze of
G1eenbackfsm" even though 1t was Grip
pied and iLs saving In ntiusnces lessened by
the tricks of the Gold. holders and greedy
specuiators in our own Government
Bonds.
What was it but "GreenbackIsm"-in
other words Government Bank credit,
furnishing plentiful currency yet wls0-
ly limited and regulated without the
cost Of coin bass-What was 1t ask
that enabled tho Republic OF Venice on
the Adriatie sea, to successfully carry on
her wars together with tn, yast COM
merce OF the known world, for period
OF elk hundred years, without one single
financial panic or revolsion! Aye more!
| Sucn a Craze 1t was that thsir paper,
bank credits. rated for long periods Of
time 20 per cent. above the Venetian d duoats
the then gold coin of that country What
can we show. tied to a coin basis? What
can even MIR. Bayard show for the honest
gold dollar" OF which he has so much
boasted; as respects the financial panics
that have visited us SO often like aguo
fits or simeon blasts from the desert In
| the but little over one hundred years of
our boasted eyistenee as a Rspub!ie2
Let us quote little from Samples OF
] Green Back Crazep BENJAMIN Franklin.
one Of the oldest, most able and philo-
sophical fathers OF our republic, has
| written:
Gold and silver are not lntrlnsicaily OF
| equal value with iron. rneir value rests
| chiefly In the estimation they happen to
| be in amongst the generality OF nations.
| Amy other we'll founded credit ie as much
| an equivalent as gold and silver. On the
whole. no method haS hitherto been
| formed to est ablish a medium of trade,
| equal IN all Its advantages to bills OF
credit made u general legal tender."-
Benjamin Franklin.
Again" Treasury bills bottomed on
taxes. bearing or not bsaring interest, as
may be found necessary. :. will take
the place OF so much gold and s.lver."-
Thomas Jefferson.
Again--"No ono can doubt that the
government credit Is better than any
tank more stable and more safe. onn
Z. Calhoun.
The sentiments OF those three great
men OF the earlier days represent the
Craze of Greanbackism" and IL would be
we'll II the editor OF tho u. h. wouldsleady
his eye on that hole in The sky OF Orion
and that his valued leader MIR. Bnyard
would study the philospbies OF finance in
| soIno other school than tho Bankers of
London with whom he has dabbleu for SO
many years and then teach the rank and
lile OF his party what thoy so much need
to know those political truths which, IL
1
the accursed rule uI gold as the reigning
and tyrannieal master oil our financial sys.
TENS
extract from Sir Archibald Ailison's
Europe Ed. 1852 Us follows:
| The greatesL evils which affllct mankind
and many ot tho greatest enanges may
be distinctly traced to the undue inllu.
] eDce OF realized riches when the rich be-
| come richer and the poor poorer;-eyils
which are the unavoidable result ur a sta
| llDnurY loo AcADt nj nn.
existing with rapid Increase in the mum
bers and transactions OF mankind only
hgsfasateh ny every addition to the ensr-
| gIes and productive power OF society"
Next to the Green Back Craze" of the
| Republic oil Nenlcs which prevailed from
/ A. ID. III Tor nearly 600 years, and to the
same ideas az expressed by Franklin. JEFF
terson Ahd Calhoun as above quoted-f
our people arc not sufficiently educated
and enlightened to auopt this craze"
theE let US have a pleHtiful coin.hased
currency not u currency diminished full
one half By tho criminal Gemonetizatlon
OF silver III 1878, which Is CO cntinualiy
tenIins towards accumulated evil ever
| slRce those evil influences still more ag.
gfayatsd by The anti. pro otectlon policy OF
| The DeiAacrats Of the Buyard stamp.
could not restrain a feeling of dlsgust
on reautng the ponpous oresd and bonn
hast of our Ambassador la his speech of
October 2Tth, but have neither time nor In.
Clihatton TO review tho whole. Several of
tho positions therein asserted are abso-
lutaly false both to matters of fact and
principle.
What docs he mean by begging ''of his
friends aud fellow citizens" not to be do.
luded by the plea that you can by Legis
latioh change the value of anything that
is producad OH eartt.
There are no rational students of finan.
cial facts and principles but who know
that the laws OF each nation regulate the
practical value OF Its own circulating me
diums both OF eoln and paper. What folly
ana weakness to avoW the contrary, es-
pecially without explaining fully what is
meant critically by the word value"
Does lie not know-do we not all know
that the legislation which dem onetizpd
silver as basis OF currency not only
crippled its M money value but reduced its
mercantile value 80 much as TO crush the
Industries aud the property OF one OF the
new but Important sisters of our Republic
Tho state of Coioradof
Furthermore we may ask IL tariff legis-
latton does not affect the pricos OF our
products, and hence also OF our land
(eyen II bought by gold dollars) what in
NIL reason are the tariff and anti. tariff
leaders 30 bitterly differing about?
1t would seem that Dir. Bayard lies
open to the charge made against the
party he has 80 long led anu deceived;
that they never forget anything old and
never learn anything new" We may
safely say they have neither properly ap.
preciatsd the teachings of tho old nor
ralionaily studied the now.
We repeat:
Away with all shallow statesmanshtp!
Away with SO much unphll opnicaI iY.
| norance OF the teachings of history and
OF thu Immediate rayeaiings of the pro.
sent.
What pompous nonsense may be noticed
also IN the very iirst main paragraph OF
that part OF his speech headed by the text:
"Iahnot make value by Iegislatiun.r In
1t he quotes Gods Primeval Curse and
says "ail the values In the world are the
values that are creatpd by labor.n Bah
the very ground we stand on, the air wa
breathe, the waters we drink the sunlight
We 500 by, and Its heat that WARNS US. are
moro i'm mportant and essential values free
Tor our use, yet created by our labor Tho
very gold he harps so much upon is ONLY
gathered not created by our own labor and
the valuation OF It as u product of labor
SO foolishly taught by old school ecouo.
mists (learned perhaps by Mr.. Il. greener
college days) has long since been ignored
and r. relinqushed by brighter and more dia.
| eliminating minds.
The reasons. (A1r. Editor and readers of
| those hearty and imperfect lnes) that 1t la
thought worth while to ask their publlea.
ton are not specially of PARTISAN char.
acter
The contention now existing between
mono. metaiism and bi-metalism between
| gold alone and gold combined with silver
III long established paraties of relative
value Is contention world wide and of
incaiculable Importance. Since money ia
considered by the true philo gopher main
| support of civilization. without which
society would sink into barbarIsm the
| rights OF the strongest marking Its only
constitutional law, and since experience
las long ago pro Feu that plentiful per
capita currency always inspires and pro-
NOTES prosperous industries; therefore
should we as u people submit to no
| cramping Of our basis of currency 10
| gold. which would give to the holders Of
| the concentrated wealth of the world. ina
| gambier's trump card 'wherewith to grind
labor and production to their impsrious
| will.
But we should see to It that plentiful
| supply OF the sister coin of silver shnlIlI