The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-20

airy. 1863, In approving an act for an addi-
tional issue of 500. 100000 for the payment
of the army and navy. Mr.. Lincoln sent
Congress a special message regretting the
necessity for the act and deprecating any
further issue of greenbacks. In this mes
sage he said:
Ny approval is given Ito this measure) in
order that every possible facility may be
afforded for the prompt discharge OF an
arrears of pay due TO our soldiers and our
sailors. While giving this approval, how
ever, / think ii my duty to express my
sincere regret that IL has been found neces-
sary to authorize so large an additional
issue of United States notes, when TINS
circulation and that of the suspended banks
together have become already so redundant
to increase prices beyond real values.
1t seems very plain that continued issues
OF United States notes, without any check
to the issue of suspended banks and with
cut adequate provision for the raising OIL
money by loans and for funding the issues
so TO keep them within due limits, must
soon produce disastrous consequences, and
that / feel bound to avail myself or this
occasion to ask the special attention or
Congress to 1t.
This shows how little of a greenbacker
or infationist Mr.. Lincoln was. But this
is not all. Mr.. Bryan says: HE believed
that this Nation should issue its own
should issue or control one dollar of the
money the people used" This is grossly
untrue. AS a matter of fact Mr.. Lincoln
was one of the first to suggest national
banks. In his annual message to Congress
OF Dec. 1, 1862, after deprecating the issue
of the United States notes. he said:
Is there any other mode in which the
necessary provision for the public wants
can be made and the great advantage OF
safe and uniform currency secured?
know of none which promises so certain
results and is at the same time so unobjec-
tOnable as the organization of banking as
sociations, under a general act of Congress,
well guarded in it's provisions. To such as
sociations the government might furnish
circulating notes, on the security of United
States bonds deposited in the treasury.
These notes, prepared under the supervision
OF proper officers, being uniform in APP
pearance and security. and convertible al
ways into coin, would at once protect labor
against the evils of vicious currency and
facilitate commerce by cheap and safe ex-
changes. The public credit, moreover,
would be greatly improved and the negotia-
ton of new loans greatly facilitated by the
steady market demand for government
bonds which the adoption of the proposed
system would create.
Mr. Lincoln repeated these recommends
tons in special message to Congress Jan,
II. 1863. and after the national banking law
was passed he, in his annual message of
1864. congratulated Congress and the coun-
try on its beneficial effects. THAT the gov
crnment and the people will derive great
benefit from this change in the banking
system of the country" he said. "can hard
ly be questioned. The national system will
create reliable and permanent influence
in support of the national credit and pro-
tect the people against losses in the use
| of paper money" In the light of these
| facts Mr.. Bryan's representation of Mr..
Lincoln as a greenbacker and opposed TO
national banks is one of the most outra-
| Seous falsifcations he has been guilty of.