The Penn's Grove record., 1896-10-23
WHY REPUTATION.

WHY REPUTATION.
The reason the gold bugs and bond
holders, officeholding tax eaters and
their hired organs and lsckeys call the
Democratic doctrine repudiationists is
this. The government bonds were Is
sued for no other purpose than to found
the banking system on and to enslave
the American people with 9 perpetual
debt. After the Civil War was over
the bankers were allowed to take mil.
lions Of greenbacks, the peoples money
which bore no interest, to the treasury
and receive interest bearing bonds
for them and the greenbacks were burn
ed. In fact 81 ia, 352,5S7 worth OF
bonds were issued after the war was
over. $780, $50, 73S more than during
the war. The amount Of interest paid
by the people on the national debt from
July LIST, 1861 to July l, 1895 was 81
635, 000, 900, at least S. for every mar
woman and child annually. After
paying this enormous amount of inter.
est and about 81, 100. 100000 Of princl-
pie it will take more bushels of wheat,
corn and cotton to pay the balance than
to pay the whole at the close Of the war.
When the people get hold Of the gov
eminent they can make enough green.
backs to pay off the bonds, with which
they were purchased and NOT only save
the people from paying the interest to
the bondholders but will have enough
money In circulation to do cash bust
ness with.
But holy horrorl Listen to the Plu-
tocrats hollsr. "repudiation!" ''repu.
diation!n
Abraham Lincoln said, "If y gov
eminent enacted a debt with a certain
amount of money in circulation and
then contracted the volume Of money
before the bebt vas paid, 1t is the most
heinous crime a government could COM
NIT against the people"
On Feb. u, 1867, honest III John
Sherman said, II say that equality and
Justice are amply satisfied il we redeem
these bonds in the same kind Of money.
OF the same intrinsic value it bore at
the time they were issued. Senators
are sometimes in the habit, in order to
defeat the argument Of an antagonist,
Of saying this is reputation"
On March 80, 1868 he said. 81 think
the bondholder violates his promise
when lie refuses to take the same kind
Of money he paid for the bonds. If un.
der the law as it stands the bondholder
a demand only the kind of money he
paid, then he Is a repudiator and an ex.
tortioner to demand money more valua-
bic than he gave"
That was before honest .(?) John
Sherman hobnobbed with the Rotchs-
childs apd was paid to demonetize sill.
yer. That was before he became worth
three or four millions of dollars off OF
5000 salary a year. If a man saved
5000 a year it would take 200 years
to become u millionaire. John Sher-
man was the scoundrel who manipulate
cd the bill which prohibited silver being
coined into the standard silver dol
lars of u daddies, with the same
privilege as gold. His testimony now
before the jury of the people should
have as much weight as any other
criminal In the docket. The first bill,
which was discussed, was all right, but
y substituted which struck out the sill
yer dollar, and was never read passed
by fraud and stole the peoples money
like a thief In the night. 1t does not
matter now whether any one knew 1t or
not then. The fact that it was done
and the fact that it destroyed half the
money OF the constitution is the reason
1t should be restored by law and silver
given the same right of coined into
money as gold, as was the law which
Washington signed and was a law I'M
til 1873.
The protective tariff howlers try to
fool Americans with the false assertion
that the destitute condition of the la.
boring class In England is due to FREQ
trade. 1t is not so. 1t is solely due to
the gold standard which makes scarce
money, low prices and worse than
black slavery. How it is done is told
as follows in the Hazard circular sent
to American bankers in 1862:
"Slavery is likely to be abolished by
the war power, and chattel slavery des-
troyed. This, L and my European
friends are 10 favor Of, for slavery Is
but the owning Of labor, and carries
with IT the care Of the laborer; while
the European plan, led on by England,
Is capitals control Of labor, by controll-
Ing wages. Ihis a DO done by con-
trolling the money, The great debt
that capitalists will zee to 1t is made
out of the war, must be used as a meas
IRE to control the volume of money,
To accomplish this the bonds must be
used as a banking basis. We are now
waiting to get the Secretary of the
Treasury to make this recommendation
to Congress. 1t will not do to allow
the 'greenback, as it is called, to cir.
culste as money, any length OF time,
for we cannOt control them. But we
can control the bonds, and through
them the bank issue"
You see when the bonds are paid the
holders will have TO go to work and
sarn an honest living instead Of living
OF others.