Year: 1865




eventful as we'll as prolific of events. She
looks remarkably active, and If there is no
preventing providence, we will so security
en- her some day securing the town in
which she lives from all drafts for the army.
The Financial Strength Of the Coun-


try-What a Greenback is.
The following is an extract from the very
interesting speech made in St. Louis, by
Governor Chase:


DEFINITION OF A GREENBAcK. e.sH
| Now have been called the father ef
greenbacks. Iou are the father of green.
backs. What is a greenback! Did vo,,
ever think what it was? Why, it is Simply
the credit of the great American people put
in the form of money, to circulate among
the people whose credit makes it worth
anything. When ! was Secretary Of the
Treasury, the question arose, how should
these vast armies and navies be supplied?
How should the boys in the field be fed,
the sailors IN ships be kept, and provisions
made for their support, their clothiug, their
food and transportation found that the
banks Of the country had suspended specie
| payment. W That was to do? The banks
wanted me to borrow their credit, or pay
them interest in gold upon their credit.
They did not pay any gold, or propose to
pay any themselves, but they wanted me
borrow their notes. said "No, gentlemen,
this American people is worth all Of you
put together, and | will take the credit
of these people and cut it up in the form Of
| little bits OF paper, and will circulate that
paper, and we will receive that paper for
bonds, upon which we will punctually paw
| the interest in gold; and then, in order that
| the national currency might be permanent,
and nobody could have just cause to COM
| plain, called the national banking system
into existence, and pledged every bank to
redeem its currency in greenbacks, and the
government pledged that every dollar
should be redeemed in the end-that in the
end everything should be made equivalent
to gold. ;.a lar
think this is the true idea of a green
back. 1t is the credit and property of the
American people, in the midst of great
strife, when we must have everything we
can get. And, fellow-citizens, in my hum
BILE judgment, if out of this war this national
currency comes as is provided for III our
platform, so that no western farmer or
merchant will be obliged to pay tribute to
the east in his exchange, so that we shall
not loose upon exchange so large profton
our industry; so that the laborer receives
! his dollar or two dollars, or dozen dollars,
at the night or weeks end; shall be per.
fectly sure that it will not turn to dust and
ashes before the morning sun rises l say
if we can get such sound currency as this,
then the country will not, at least, have
been without one of the collateral benefits
Of this war, if you can take your money and
pay your bills all the way without having
to change the currency at every tavern
you stop at.
i | say if the government is administered
as it should be, with proper vigor and
economy, every dollar in greenbacks will
be as good as a dollar in gold Why,
eight months ago, if I could have had the
assurance that | would not have been
troubled with any other issues--if / could
have been assured that there should be not
trouble from any unauthorized currency,
unauthorized by any but the nation itself
| would have undertaken to resume specie
payment in a week, if anybody wanted it,
and say now, if the war is prosecuted as
it ought to be, and the government is
administered with the economy and pru-
dence that | trust it will be, there is no
more danger Of that currency thar there is
that the American people will fail g


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