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PAGE TWELVE
THE WASHINGTON POST AND
GREENBACKS.
(Continued from Page Nine.)
after the War, and the “enormous hole’’
contracted to the comparatively modest
Internal Revenue taxes.
The Post reminds us that a gold cer
tificate is not legal tender yet passes at;
par because the holder can exchange it
for a gold dollar. But the gold dollar
is legal tender, and its legal representa
tive, is as good as itself. If certificates
were issued against full legal tender pa
per dollars, the results would be precisely
the same.
The Post reminds us of all the paper
money that ever failed without entering
into the causes for such failure. As long
as our Government stands, a two cent
postage stamp will be worth two cents,
but if the Government went the way of
the Confederate States what would its
stamp be worth ?
It sounds convincing to tell of the time
when a pair of boots cost $250 in Confed
erate money; but what will you do with
a situation such as that which Prescott
describes as having existed in Peru, when
a horse cost $29,175 and a quire of paper
$l2O in gold?
According to Prescott, S7OO in gold was
the price of a bottle of wine; and a pair
of shoes cost $350.
The Post declares that, if the Jefferso
nian is right, a weak nation can create
money as well as a strong one. Os course
it could. A weak nation has as much right
to existence and to the exercise of gov?-
ernmental functions as a strong one. The
creation of money is a governmental func
tion. Silver and gold are not money until
the Government says so, by law.
The fiat paper money of a weak nation
would be absolutely good for all domestic
commerce. As to foreign commerce, that
is a matter where the actual money rarely
appears. Trade balances are adjusted by
bills of Exchange and similar commercial
devices.
The fundamental error of the Post con
sists in assuming that a dollar is not a
measure of value in exchange.
Money was intended to represent value,
as a yardstick represents measure. There
is no more sense in saying that the repre
sentative of value shall be itself the equal
in value of the thing represented than to
say that the yardstick shall, itself, be the
equal in value of the stuff which it meas
ures.
The Greenback was not an ideal curren
cy, because it was a promise to pay. The
so-called redemption of the Greenback, by
exchanging another sort of money for it,
was wrong. The swapping of dollars, the
one kind for the other, is not redemption.
The true theory is that a dollar answers
the purpose for which it was created
whenever it pays a debt or effects an ex
change of commodities. Every time it is
received as legal tender in satisfaction of
a legal demand it is redeemed.
By educating the world to believe that
nothing but gold and silver is fit for mon-
THE JEFFERSONIAN.
ey, the kings of finance have been enabled
to rule every nation on the globe.
The Jeffersonian urged the Administra
tion to issue Greenbacks, because such a
step would at once release the country
from the remorseless grip of those Wall
street rascals who brought this panic on
us.
Honor 'Roll.
John Good, Fayetteville, Tenn.
P. C. Holbrook, Carnesville, Ga.
S. M. Chapman, Rome, Ga.
H. T. Chiles, Fayetteville, Tenn,
W. C. Carter, Rochelle, Ga.
P. L. Candell, Baldwin, Ga.
W. B. Campbell, Stephens, Ga.
W. L. Casey, Howard, Ga.
(To be Continued.)
•8 *8 *
The Farmers 9 Union.
In the February number of the Jefferso
nian Magazine, there will be a leading
article on this great order—the first mag
azine article devoted to it.
It includes a biographical sketch of
Newt Gresham, the founder of the organi
zation, written by his daughter, Miss
Lutie Gresham.
It also contains an account of the early
struggles of the order, written by R. F.
Duckworth, President of the Georgia
Union.
The article contains a preliminary arti
cle writtten by Mr. Watson, in which he
strives to make it plain that the agricul
tural classes must adopt a clear, compre
hensive policy, as to national legislation,
if it ever accomplishes what it set out to
do—namely, to get a square deal for the
farmers.
MUM
Tom Taggart's Appeal.
Under the gallant leadership of Thomas
Taggart, the dear old Democratic Party
is taking the preparatory steps to fool the
folks, once more.
The fact that such a black-leg as Tag
gart is kept in place as national Chairman,
proves that, nationally, the dear old Dem
ocratic Party is just the same as ever—
the off-horse of the Wall street span. The
other horse is, of course, the Republican
Party. The two pull the cart of Special
Privilege, in which Wall street rides.
Taggart -runs an establishment at
French Lick Springs, InAana, where the
fashionables drink, frolic and gamble—
just as they do at Monte Carlo, the fam
ous gambling place of Italy.
In 1906, the police raided Tom’s estab
lishment at French Lick, and captured
gambling paraphernalia of all sorts. Tom
had a pull, however, and did not go to
the penitentiary. The thing blew over,
as such things usually do under the in
fluence of the pull.
It is this man of the gambling hell—
which is not the less a hell because none
but the fashionable can enter therein—
who is now issuing an address to the Na
tional Democratic Party.
This gambling-hell keeper—one of
whose partners is said to be our Republi
can Vice-President, Fairbanks—calls up
on good Democrats throughout the Union
to unite in the interest of “pure, economi
cal, and constitutional government.”
Tom Taggart not only wants purity,
and economy, but he wants everything
done according to law.
After Tom had written this, he proba
bly winked, and said,
“Give me one card”—as he discarded a
useless card in the hope of filling out a
straight flush.
If I were Mr. Bryan I would maneuver
Tom Taggart over into the Republican
camp. That would immensely embarrass
the other twin.
H 18 M
Jeff J)ahis, of Arkansas.
Landed in the U. S. Senate on both feet,
and made a speech which made the Trusts
think of suicide.
Then he appointed one of his daughters
his Private Secretary, in which position
we, the taxpayers, will pay her SI,BOO per
year—doing it with cheerful alacrity, as
well trained taxpayers should.
But the Honorable Jeff’s personal pat
ronage does not stop at the Private Sec
retary. The law allows each Senator to
appoint for his own use, a Laborer, at a
salary of S9OO per year. Having another
daughter, Brother Davis appointed her
his’Laborer; and all is well.
For a brand-new, trust-busting, reform
ing Senator, who’s ahead of Jeff Davis
of Arkansaw?
They say that he has six other chil
dren. What of it? They are just as much
entitled to offices as anybody. Put all of
them in, Jeff. We taxpayers had just as
lief see you get it as not.
HUM
HOT SOUTHERN BLOOD.
(Continued from Page Two.)
dents given above. Andrew Jackson, who
alone, among those mentioned, was a man of
fiery temper, was of Irish parents, who had
emigrated to this eoutry hardly a year be
fore he was born.
The Northern idea about “hot Southern
blood’ eame of the “fire eaters” of the seces
sion era. Toombs, Iverson, Rhett, Yancey,
Wigfall and others did a great deal of impas
sioned talking and Preston Brooks made a
personal assault on Charles Sumner. It was
the times and conditions that produced these
displays of temper rather than anything like
racial temperament. The South then was
at bay in defense of the “peculiar institu
tion” which inheritance had thrust upon it.
It smarted under the threats and insults and
misrepresentations of the Northern abolition,
ists. It believed, not without reason, that its
safety was imperiled by the fanaticism of
men like John Brown of Osawatomie. This
produced the hot blood exhibited in those
times. It was a time of fierce resentment and
the South was spirited enough to respond with
fervor to the provocative prodding to whieb
she was subjected.