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The Venerable Peter Cooper Has

The Venerable Peter Cooper Has image
Parent Issue
Public Domain
OCR Text

joined the ranka of the paper money men, and declares for an exclusive greenback currency, convertible into 3.05 bonda and the bonds again into currenoy. He claims that gold and silver coin is not a correct standard or measure of values, because the demand for exportation or for use in the arts continually changes its value. He also claims that the government stamp on a bit of paper, certifying that it representa another government debt, makes it a true nieasure of values and intriuBically worth the figures on its face. Does not Mr. Cooper know that the unprinted greenback is worthless, that the printed greenback is in itself just as worthless, that it derives all its value from the promise of the makel, and that if that promise is only for payinent in a bond, or other evidence of debt, payable itself only in ereenbacks, it will only pass as tnoney where the laws of its maker are in forcé? Compulsión alone will make it current, and a hat full of thera would not buy a man a dinner when he get8 over the bounds of the issuing State or nation. Does he not know, al80, that the stamp of the government assayer or mint on the gold or silver coin does not increase its value in the least, that the certifícate of any well known and honest renner to its fineness and weight would be worth just as much as the government stamp, the value being in the metal and not the stamp ? If he and Kelley and Butler and Field and Allen and Pendleton, and all the rag money men, have not learned these ground principies they are not competent to set up asnnancial doctors. MI - ■ - - wt mi THE resources of the South ure being gradually brought into a better condition than ever before- a fact that will soon teil on the prosperity of the whole country. The discourageuients of a few years past have eompelled the planters in many of the States to increase their resources by extending the variety of crops. During the present year the planters of Alabaina, Mississippi, Arkansas, and Tennesse will uot only be freed for the first time from the necessity of purchasing breadstuffs, but they will have a surplus of their owu to put into market. Heretofore they have usually been compelled to market their cotton at a great disadvantage, mortgaging the erop before maturity to secure necessary supplies, and then Belling the cotton in the most depressed season. Their cereal erop this year will provide them with ready means, and enable them to market their cotton wheu it eau be done at the best advantage. The acreage devoted to cotton is Ie88 than in previous years, but better tillage has been rewarded by more than the average erop. As the income from breadstuffs is additional to the usual proceed8 of the cotton erop, the outlook for the South is peculiarly favorable.


Old News
Michigan Argus