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The Simple Truth Vigorously Put

The Simple Truth Vigorously Put image
Parent Issue
Day
19
Month
April
Year
1878
Copyright
Public Domain
OCR Text

Throughout the land every worthless, idle, vicious fellow, joalous of those whose bettor character euables them to get or hold property that slips like water froun his grasp, ia denounciug bankers, business uien and capitalista as robbers, is roaring at greenback clubs," and bawlitig for " more nioney," under the wild notion that, if the Bureau of Engraving and Printing was made to print four or five tiines as inany proinises to pay as it does, and if those piomisc-s aro never to be kept, and if they were to be used to pay off bonds which are payable in coin or its equivalent, that he would somehow get gome of those notes and have a chance to spend thttin. Every natural bom, unadulterated fooi, either in the caucus, the editorial chair or the niasB moeting, is denouncing banks and bankers, without whom society can no more exist than men can without veins - and detuanding, instead of the payruent of the proraises alrcady afloat, the issue of hundreds of millious more of these dishonored notes to poison the circulating medium and infect the vitáis of the oonimunity. Knowing naught of public affairs, or of the livino laws whereby business must and does move, these creatures set themselves up for sages, and impose on those as ignorant as and loss brazen than theniselves. Suppose these inisleadors sucoeed ; suppose the inflation they urgo should come, whowill suffer V Not the capitalists or bankers. To be a cupitiUist lor years means to possess a superior brain ; and superior brain can proteot itself. Against its majorities, violono.e and intrigues are powerless. If repudiation in the guise of inflation is to como, the men of superior brains will know it before the public does, and they will sell their bonds and otherwiso remove their capital beyond its reach, so that the effect will fall, not on them, but on those who are not far-seeing enough to escape in time. Who will proflt by inflation V Not the people ; the speculators and the speculating part of the capitalista and bankers ; the very men to harm whom the inflatiou moveinent aitus. Tbey will know inflation's approach belure the pooplü do, aud will prepare to avail of it. First, whun a fresh issue of paper takes placo, gold will rise ; the speculators will have gold ruady to sell, and will dispose of it at the higher rate, pockoting a largo profit which the buyers will lose. Next, giain and othor readily-marketable product will rise ; and the speculators haviug bought gruin with the profits of their gold transactions, will aell at another profit which must come out of all who eat bread. Then dry goods and other articlea of daily consumption will one by oue rise in coat ; aud tho workraen of the country, while their incomes are about the same, will have to pay high pricea for every thing they need, aud will thus have to pay large profits to the very olass of whom thy now complain.

Article

Subjects
Old News
Michigan Argus