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What We Are Coming To

What We Are Coming To image
Parent Issue
Public Domain
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-Old Dr. Witherspoon, one of the sigaeca of the Declarnüon of Indepondence, in alluÜOg to the era of continental money, spoke of it as a tioiu " whon creditora were seca running away from their debtors, the debtors pursuing them m triumph and paying them wilhuut mercy." It is elear that tho legal tender note schema is rapidly bringjng about this vory state oí affairs again - Debts whiob vv.ere contracted at the gold standard, with tho expectation on the part of the creditor - founded upon tl.e good faith of tho government - that, this .standard would bo adherod to, uül, undor the uninst operatioa of an act of Congrcss, bo liquiduted by paper money that is novv depreciated tliirtvthreo por cent , and may vet bo at a discount of iifty per cent., or oven tnore. This, of courso, ia simply legalized injnstice and cannot fail tp prove disiistrous to al! legitímate intorests. Widowb, orphans, poor peopie, and pereons of email means, vvho had thoir little all invested in mortgages, bor.ds, stocks and eavings banks, wil] lose half their property by the depreoiation of the currency ; " their debtors will pursue them in triumph and pay them without meroy."


Old News
Michigan Argus