Tombstone epitaph., 1896-08-30
THE HONEST DOLLAR OF
The Plut0cats. What Does it
 Mean? How D:d it Cone?
ToEBsToNE, August q, 1897.

ToEBsToNK, August q, 1897.
 EDIroR PRosPEcToR-when 1 was ip Bisbes abou: ten days ego met an old iend, . man of more than average education and intelligence. who ap- pesrsd to be very much surprised that l had bsca me Populist, and In strong terms bemosned the possible election of W. J. Bryan to she office of presi- dent oi the United States, and the consequent triumph of what he called populistie herssies, and said: "Ihops you will get all you want (msAning the election of Bryan, free coinage. etc.) and then you will see { years of such stsgnstion, distrees and suRsring \ that the p opls will rise up and drive out of politics all thess modern dem . sgogs and cranks with their herssies and fads." These are not his exact words. but l think give his meaning fairly and moderately.
 Now, It appears to me that this gen. man, whether from his early training or from the reading of gold-bug liter atarr. has inbi' ed ialss notion-thst no dollar can be honest except . gold dollar. or . paper dollar purrort ting to have gold behind it to redeem 1t when called for-and. ss it slso appesrs to me, that this gentleman and others Of his kind. are honest In expressed convictions, l think it becomes me to state for their their benefit my visws oi this sO-cslled "honess dollar" and my reasons therefor.
 soNK HISTORY.
 In 1861 .: the break cut of the war, congress by act authorized the enlist ment of 90 days vs!ustesrs, believing that sufficient to suppress the rsbel- lion, and also authorized the treasury 70 issus one hundred million dollras in treasury notes (some cay more some less. but the amount is not mstsrial) to be Q legal tender for all demands public and private. These treasury notes were never discounted though there was no gold to redeem them nor any expectation of redemption in gold or silver. and they could not be dis counted because they were e good as gold in payment of customs duties, internal revenue and taIes, and all men were glad to get them.
 About this time all, or nearly all gold and silvsr hsd disappeared from circulation and been hoarded by the banks, with the expectation Q! con- trolling the currency and all business; bu. soon the banks found that their gold ard silver was lying idle on their hsnds, e nobody needed it. treasury notes being gosd enough for all other people. Theu it wac that the money changers of London with iheir agents in New York and other citiss oi Amer ica seeing that . continuous issus of these treasury notes would stop their profits and curtsil their power, be- sieged congress with whsls bsttslli ns of Lobbyists, male and female, and whether by per.uasioa or bribery, or both, I care not, persuaded that body thst the treasury muet have gold to suppress the rebellion. The old story "Try what you please, but there is nothing like leather" So the next i.eue and all issues of treasury notss contained the joker excepting dusiss on imports and interest on the ma tional debt" from iss legal tender qualities.
 This of necessify created demand for gold and rilvsr coin e ell impost- CTS must have it to pay duties end the trsssury must have it to pay interest, and thereby gave the money changers the power to reduce the treasury note so . discount of from 96 to 34 cents on the dollar as measured in coin.
 Thus tLe treasury had to issue bonds payable in coin, snd the money chan gers bought the treasury no.es, (callsd greenbscxsj ss she discount mss- tionec. probably averaging 50 cts. on the dollar, and then sos another scs of conyrs.e p.ssed by the came roeans authorizing shs trsasury to issus bonds, dsllar for dollar, payable in coin to redeem shsse 50 cent dollars. So that by this shimbls ring game they got cue hundred dollsrs in bonds for every 6ity dollars paid, and on all these bonds, except thoss redeemed, they have already drawn over thirty yesss interess ss an average oi 6 Co !