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Mr. Roosevelt’s impulsive disposition can
not be charged to any inheritance from his
mother, not, at any rate, because she was
Southern. It is related that she hoisted a
Confederate flag at her home in New York
during the Civil War, and therein was demon
strated an indomitable spirit that may have
been transmitted to her distinguished son, but
he has no prototype in the Bullocks of Geor
gia. He is sui generis. Heredity in him is
very much mixed so far as nationality goes,
and no particular trait of his unusual char
acter can be attributed to any particular
strain.—-Nashville Banner.
WATSON AND FINANCE.
(Continued from Page One.)
brought his tremendous powers of ratiocina
tion to contemplate the fact that our gold
certificates are not full legal tender, and yet
they are worth their par value everywhere.
Why? Because there is gold in the treasury
to redeem every dollar of them.
As for the “demand notes,” the full legal
tender stamp when put on them added
naught to their value, for they were worth as
much before as after that act. And speaking
o/ value, Mr. Watson, the free trader, abomi
nates the dogma that Government can create
value by act of Congress; but as a financier,
Mr. Watson holds that it is the imperative
duty of Government to make value by statute
and enaet that it shall be a legal tender, at
that.
When the first real greenbacks were issued,
in February, 1862, the Government had already
sold nearly $200,000,000 bonds, and simul
taneously with the issue of greenbacks the
Government authorized a loan of more than
ten times the amount would be now. In
order to enhance the price of the bonds, the
Government plighted its faith that the interest
on them should be paid in coin. The only
way the Government could get the coin was
to collect it from the taxpayers, and hence the
law providing that customs duties should be
paid in coin; but the Government accepted
greenbacks for internal revenue taxes, and we
had an income tax in those days, too, as well
as an inheritance tax, to say nothing of excise
on whisky, brandy, beer and tobacco. Here
was an enormous hole into which the green
back could be dumped, and yet it fell in value
to nearly one-third of par, though it was
legal tender for debts due from man to man.
If the most powerful and the most opulent
nation in the world can “create money,”
so can the weakest and the poorest nation
do the same thing. A miracle is not a matter
of strength, but a thing of faith.
The paper money of the late Confederate
States of America is absolutely worthless as
a medium of exchange; but suppose that
Government had coined 1,000,000 gold pieces
of the weight and fineness of our double
eagles? Every one would be worth S2O in
every mart the world around where men—
Christian or pagan—traffic, and no one a
legal tender anywhere under the sun.
There were banks in Massachusetts, in New
York, in Indiana and in Kentucky that uttered
paper not legal tender that the Government
had te tax out of existence before the green-
THE JEFFERSONIAN.
back would circulate at all, even with its
legal-tender attribute.
Mr. Watson is a greenbacker, pure and
simple. His creed is that whatever will
satisfy a debt is good money. We are glad
that Mr. Watson is a prosperous man; but
Prices Reduced on the Watson Books
Story of Trance
In Two Large, Beautiful Volumes - - - $3.00
Add 40 cents for postage
Napoleon
Illustrated $1.75
Add 20 cents for postage
Life and Tinies of Jefferson
Illustrated sl*so
Add 20 cents for postage
Bethany
A Thrilling Story of the Old South and
Civil War SI.OO
Add 10 cents for postage
/
JEFFERSONIAN, Thomson, Ga.
The Farmers’ News Scimitar
One Year, payable in advance 50c
Six Months, payable in advance 25c
Less than One Cent per Copy
Best Agricultural Paper in the Country.
Farmers’ Union Articles from Every Stat® in the South.
Reliable Market Reports. - j
The Latest Telegraph News.
Page of Condensed News of the World. i
Stories for the Women and Children.
Junior Department, of Great Interest to the Mothers and Little Ones.
The Farmers’ News Scimitar
MEMPHIS, TENN.
BUTTONS, BUTTONS, BUTTONS!
The National Farmers’ Union decided that the button, with a picture of Next Gres
ham engraved thereon, should be sold by Miss Lutie Gresham (his daughter) of Point, Texas.
The National Union decided that these buttons should be sold for twenty-five cents
each. Every member of the Farmers’ Union should wear one of these buttons. Send
your orders direct to Miss Lutie Gresham, Point, Texas.
if he will fully investigate, we make little
doubt that he will discover that a discharge in
bankruptcy that is a legal tender for a debt
of SIO,OOO would not suffice to buy ten grains
of butchers’ meat at the corner grocery.—•
Washington Post.
PAGE THIRTEEN
