The Goodland republic., 1896-03-27
eF0NEsT MoNFY.n

greenbacks dishonest and seek to have
them retired and national bank notes,
or state bank notes, for the redemption
of which the government shall stand
good, and the people taxed for the ex.
pense of issue, substituted in their
stead. They denounce the free coin
age Of silver as dishonest and call the
standard silver dollar a 50-cent dollar.
Let US see in the first place VINO was
responsible for the issue of cheap, de-
preciated greenbaek money.
At the opening Of the civil war metal
lie money, ever ccwardIy in the face of
danger. sought a hiding place in the
Golfers Of private hoarders, and to meet
expenses of government and to further
the suppression of the rebellion the
government issued a series of paper
money called demand notes. Subse-
quent issues contained an exemption
clause and were called greenbacks.
The s60,0OO,O0O of demand notes were
as good as gold, at par with gold, and
went to a premium of s2.85 over the
United States notes bearing the exemp-
ton clause. The demand notes were
certainly good money. Who fought
the further issue and secured the put
ting Of the exemption clause on subse.
quent issues of government paper
money? The very shylocks that are
now bowling "hOnest money" In other
words the honest money" howlers
were the dishonest money makers. It
was borrowing time-the war was on
and they wanted and made dishonest
money to pay the soldiers in the field
and to bear the other expenses of war.
The war ended. Pay day approaches.
Bonds had been purchased with green
backs at their face value. Greenbacks
had cost the bond purchasers 81 cents
on the dollar. The contraction and
funding policy commenced in 1866
Millions were withdrawn from circula-
ton and a Notwithstanding debt
was changed to interest-bearing debt.
Contr action brought financial distress
and loss Of values. The government
funded debt was coming due. In 1868
the credit-strengthing act was passed,
What the government had obligated to
pay in current moneys-the face value
of the bonds-was promised should be
paid in coin, gold and silver. All this
at the expense of the people and in
favor of the bond holder. Was this
honest?
Then follows the demonetization of
silver in 1873. Notice-the bonds that
we're bought with greenbacks, payable
with greenbacks, we're now made pay
able in coin, which meant either gold
or silver. Remember silver was at a
premium above even gold, the standard
silver dollar was worth as bullion slO4,
as coin SOB, over gold. So silver pay
ment was not dishonest, Remember
again specie payment had not been re-
sumed. In 1875 the resumption of specie
payment law passed to take effect Jan
uary 1, 1873 1t was to take affect at
the treasury or subtreasury in New
York city in sums not less than $50.
By the demonstration of silver all re-
sumption, practically, must be in gold,
and all bond payment must be made
in gold,
These "honest money" men secured
the payment Of government obligations
in gold, at the time the cheaper of the
two metals. But by the demonetiza-
tion of silver and limiting, practically,
redemption to gold redemption, gold
appreciated. Pay day had come and
bonds purchased in cheap money, made
cheap by the bond syndicates, must
now be paid in dear money made dear
by legislation and by the ledgerdemain
of Wall street methods. In this way
they had doubled the value of their
holdings. Their rule is cheap money
when they can get it to turn into bonds
and dear money when those bonds are
| to be paid. This is the "honest money
hypooracy.
In other words, this "honest money"
racket is the howl Of a sbylock. And
every politician and voter and apolog-
ist of this system is accessory after the
fact, aud many of them before the fact,
to the most stupendous crime of the
centuries. Mark the man or the party
mouthing the sbibboleth of fraud and
dishonesty! The damage done to
American prosperity, the wreeking of
fortunes, the impoverishment Of the
masses, the beggaring of the laboring
classes, the loss, misery, crime and
death due to this policy Of greed is ab-
solutely beyond computation. Voters,
will you stand it longer? Old parties,
sYour gold is ealkered; your garments
are moth eaten.
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