Year: 1878

in circulation, the substitution of National
Treasury notes for bank notes would prove q
grave error. The moment specie payments
become a fixed fact, $500, OOO,O 900 of gold and
silver coin will be unlocked from its treasures
house and become part OF the daily circu-


hting medium Of the country. The United
States vaults now contain Sl3o, zoo, 900 of
gold ready for use, and silver is being coined
at the rate of S2,0OO,OO0 monthly. 1t is a
moderate estimate that $50, ,0OO,O00 of gold is
in the hands of the banks, brokers and the
people, and this great money reserve will be
poured out as fast as needed for use by the
people. Why any sane man wishes to per-
-manently shut up and keep out of circulation
this mighty sum of money we cannot imag-
ine Nothing is gained in volume of curren-
cy by substituting Gesernmept, for bank
notes, and the moment this is done specie
payment becomes impossible, and gold and
silver ace .sgain banished from our midst 1t
is q strange and astounding lunacy on the
part Of any man to desire money whose pur-
chasing power is less than that OF gold or
silver, and still more strange is it that men
who clamor for more money will deliberately
ask Congress to take such action as will per
nlanently banish 5000, 1000, 900 Of additional
circulation out OF the country, and lessen the


purchasing power of the balance by large
percentage, while not adding ore dollar to its
volume The fight between the Democrats
and Republicans must; therefore be on the
simple question of honest money. The Re
publican party will favor q paper currency


equal in vslums to the amount at present in


circulation fedeenatle in gold and silver, aud
the. adding Of seo0, ,0OO, 900 Of coin tothe reg


ular volume money now in daily usefy'
the people, The Democrats will fasora re-
peal of the Resumption Act the bauishment
Of gold and silver permanently from circula-,
ton, and the substitution of Government
notes for the bank issues. This is plain
explanation OF the entire question. I,,,i /,
d What earthly benefit the abolition Of the
National banks viii give the workingman is
impossible to- be seen. So far they have far
nished safe and admirable currency, and no
laboring man in the Union ever lost dollar
by their notes. Abolish the banks to morrow
sndrthe State Legislatures would everywhere
grant charters to State banks and they would
60 On asthey used to do before the war, Those
who want old-fasbioned bank notes would be
gratifed, and the good old times of broken
banks and worthless currency would surely
return. AS a rule, when the worthless banks
used TO fail it was not the rich who suffered
They got wind Of the matter in time. The
notes of the wretched swindling shops were
usually found in the pockets Of the laboring
man and in the hands of the poor. a,Uf ~
I Next january WILL If the people are wise,


see this country with a circulating medium
at once safe and ample for all its needs
gold, silver and paper circulating side BY
side, all Of equal value and inconvertible at
the wishes of the holder. 1t will prove a
dark hour for this country, and a fatal blow
to the best interests of the industrious classes,


if this bright future shall, through the tri-
umph of the Democratic party, fail to be
'fealized. {. - G-5 -1s-.i