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Discussing The "true Dollar,"--a

Discussing The "true Dollar,"--a image
Parent Issue
Day
23
Month
November
Year
1877
Copyright
Public Domain
OCR Text

very queer title cousidering the sentí inent of tha articlo it introduces,- tho Battlo Creek Journal says : " Wo aro freo te say that wo want silver restorec as a ineasure of valuó because it i cheaper than gold." And that ia tho very roason we opposo tho full reiuouo tization of 8ilvor. Beiug cheaper tlmn gold, - the established measure of valuó throughout the civilized worlri, tht measuro which íixes the curront valué of silvor ovon' wheu usod as money, - made a legal tondor for all debts, it first victory will be that of the greon back, - to drive gold out of circulation and out of the country. And tho victo ry will bo at the expenso of the middlo classes rather than the wealthy, at the expense of the laborer rathcr tbnn the capitalist, at tho expense of the produo or rather than tho dealer. The poores currency - when curroucy of uncqua value ís a legal tender - will always bo the currency of the poor, bocause the poor is not uiaster of surrouuding circumstances and is couipelled to take what the capitalist can reject. Our grudge against the greenback was am is that it always wa3 a fraud, a lie upon its face, a note of hand, a mere proniist to pay, without any means of compelí ing its makers to rc-deem that proraise and ín no true senso of the word mouoy In Detroit it was, by courtesy, called a dollar, whilo ín Windsor, but little more than a stono's throw away, i would buy but 33 cents worth of goods And so it will be with silver, though the margin against it may not be so great It may tako more silver to buy a bushe of wheat or pay for a day's labor, bu the farmer or thó laborer will lose more in bis purohases than he can possibly make by tho seoming advanco A greenback or a National bank bilí is a good represeutative of money or sub stitute for money just so long as it i worth its face,- is tho best mouoy known to tho world of trafile - and trade anc eotnnierce, just so long as its holder can exchange it at par for gold, and no Ion ger. A silver dollar is just as good a a gold dollar whon it represonts the samo valuó iu the money marts of the world, and to make a silver dollar of a lower standard or less mensuro of value would disgrace a nation, that is if a nation which has already made its irre deeuiable notes ofhand a legal tender can bo further financially disgraced This talk of tho greenback inen anc the silver men about the wrongs of the poor, about sympathy for the debtor about making times easier by furnish ing cheap money, is the worst of finan cial bosh. The interests of the debt or class and tho intorests of tho creditor class - tho latter not always of tho rich class, but including widows and or phans whose living must come froin the interest on investments made, and whose little incomo must feed, clothe and edúcate- are alike, and alike de mand good money, money oi tho same measure of value, whetber it be gold silver or paper. That is our position and unless Bro. Willard can convince us that the full remonetization of silvor will in somo way bring up the value ol silver to the gold standard and koop il there, wo cannot strike hands with him When we had finished rcading the speech of Hon. C. C Ellsworth, of tho Sagiuaw district, purporting to have been dolivered in tho House, Nov. 15, but roally printed undor the perinission of that body, without being inflictod upon tho membors, - a custom which allows muiubers to inislead their admirers at home and to deluge their districts with a vast deal of sentimentalism and slop, - wa were led to remernber the forcible if not elogant outburst ot the Milwaukeo lawyer (his rival being a fresh importutioir : "The gentleman on the other sido has uamed with old Ilomulus, ripped with old Kur pides, cantered with old Cautharide9, and socked with old Sócrates, butwhat.your honor, does he know about the laws of Wisconsin ! " Nominally, tho speeeh was on the bill rupealing the third section of the Resuujption act of 1875, really it was a sophomorical (forgive us, oh sophoïnorns,) essay about almost anythiug else. lts style is luxurious, its sentonces highfalutin', its iacts iiction, and its arguments trausparent - orexceedingly thin. It was scaroely necessary for Mr. Ellsworth to teil his hearers (readers we mean) in tho outsot : " I do not desire to enter into an elabórate argument against tho moasure, as I ui unprepared for suoh au efïort, having given 110 particular thought or study to tho financia I questions now agitatmg the public mind and bofore us for consideration." Eren the averago postinaater in his district would havo made thatdiscovery beforo reading a quartor of his ossoy. But, then, this simplo frankness is cxcelled by his confession that he votod for the Silver bill becauso the people were "clamoring for it," hoping that tho Senato would " properly amend it " and tb.fi President sanction it. And 3Jr. EUsworth is evidontly no mors of a student in history than of financo and inoney. Shaking the bonos of Thomas Jefferson in tho face of the greenbackers, he says : "Did ha (Jefferson) know anythiug in the opinión of the gentlemen 'f He plauned that iminortal document, the Magua Charta of our liberties, and he expressly providod in that instrument that Congres should have the power to coin monev. Did ho mean by that, sir, that Congross should havo power to coin papar money? " As Jefferson was in Kuropo when the Constitution was " planued," Mr. Ellsworth may mean tho Doclaration of Independence when he writes " Magna Charta," but vo fail to iind anything in that document giving Cougross tho power to coin monuy. Neither can Mr. EUsworth bo buttor " heeled " in elomontary sciencu than in history. Witlijs this : " Uut I tll you we Imvu been sailiug in a I:i11.)mu niñee ISiiii, and the balluous nre dcHoimdiiig, umi sóido ui tlicm will buist as thoy enter the lurefied aif no&r tho hogpitablo globo.If Ellswocth is right in his illustiation we have a well-groundod aotion igainst tht toxt-book in which we loarnod our little of chemiatry or philosophy. But spaco will pennit ua further extracta. Sulfice it to say that Mr. Ellsworth's one reinedy for all the evÜ3 of Ihe body politie is uot greenbacks, is not silver, is not resumption even, but in large appropriations fo public buildings aud interna! improve inents, " coupled with protoctivo tar iff of tliu strongest kiud." And wlr did he writo himsolf au inHated choo boy to promúlgate such a lieresy ! The New York Sun is n't at all sat isfied with the votes of the fuw Domo cratie Senators and Representativo given in favor of maintaining tlio ar uiy at 25,000. Of Sonator Bayard i snys : " Mr. Bayard has been conspio uoua in opposition to the omploymen of the anuy for political purposMi ari' to tlie abusos to which it has been open ly prostituted ; but bis votos lmve rare ly kopt puco with his words." For onco we would rather trust tho good senso o Senator bayard - grounddo on u lonj, Democratie record - than the teaching of the Sun. With a coast and bouuda ry line tho length of that of the Unitet States it seems to us that '2ö,000 men may be legitimately used without spar ing regimonts to interfere with loca politics, or oven without furnishing a very great reserve as a local or State pólice, - tho hete noir of the Sun. IH IBS Senate, on Wednesday. Sona tors Conovor and Davis voted with tb Demócrata on a test questiou - to go into Executive session - and Patterson withheld bis vote. The Itopublican woro boaten for the first time sinc March .'!, 1861, and have the bliios Sharon was telegraphed for. The Senate Financo Cominittee re ported tho Silver bill on Wednesday with an amendtnent which will giv tho Government the profit of coiuage and its paternal Bland says tb at th Houso won't pass it in that shape. BecaUSE of the bitter feoling mani fested and the threats to contost ihe ap propriation, Judge Vanzilo has dcüliuei to accept the $000 extra compeusation voted him by tho Calhouu Supervisors By WAY of a libel suit City Treasu ro Parkinson.of Detroit, has invited th Fret Preta to contribute $20,000 to hi nnnnces. Thoso stolen city bonds. TlIE Kussians have been gaiuing on the Turks during the last week. Kar has fallen, and the net is closing aroum Plevna. 1f NOT confirmed yestorday Harlui and Baxter are still on the anxiou nat. TlIE Army appropriatiou bilí has boon signed by the President. President Fisk, of Albion College, i to be duly inaugurated Booouibor 12. A " Dickens Carnival : " that ia wha the ladies of the Lansing Library Asso ciation are arranging to give on Thanks giving ovening. Have you sccn thc bOautUuJ tys' overcoals at Joo T. Jacol.s. If you want an ovcrcoat fr a boy four jrean "Ii go to Joc T. Jacobs.

Article

Subjects
Old News
Michigan Argus