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THE GRANGE ADVANCE.
WEDNESDAY, FEBRUARY 16, '76.
H. II. YOUS 3 Publisher & Editor.
Biaine on the Currency.
On the ioth inst, Hon. James G.
Blaine delivered a speech in con
gress on the financial situation,
which we have read with close at
tention and deep regret. It is not
the speech of a statesman, endeav
oring to impart information and de
monstrate truth, but rather that of
a lawyer, anxious to win his case
and it is not, by any means, a strong
and convincing argument in favor
of the measure he ach ccates.
starts out with an inexcusable mis
representation of toe views of those
whom he pretends to combat, and
then proceeds to expose the falla.
cies, not of the policy they advocate
but of that which he attributes to
them. For instance, his opening
The honor of the national ^(vcr? uur.i and
the prosperity of the American people are
alike menaced by th.se who demand ihe
perpetual of an irredeemr.Ue aper curren
As nobody demands the "perpet.
nation of an irredeemable paper
currency," it follows that this foe
which menaces the honor and pros
perity of the country exists only in
Mr. Blaine's imagination that it is
a mere phantom created by him to
be destroyed by him. Next, he
adroitly endeavors to make it ap
pear that the proposed financial re.
form was originated by the demo
cratic party and is a democratic
measure, and seeks to bury it be
neath the infamy of the notorious
secession proclivities of some of the
leaders of that organization. He
well knows that there is a deserved
ly strong prejudice in the minds of
the people towards the democracy,
and naturally supposes that if it can
be made to appear that members of
that party originated this measure,
a share of the odium will attach to
it and render it unpopular.
But Mr. Blaine knows perfectly
well that this measure did not orig
inate with democrats, but with re
publicans, and that, generally, those
prominent democratic politicians
who embraced the doctrine did so
merely for the purpose of advancing
their personal political fortunes.
He knows that it is wholly different
from the Pendletonian theory which
was advocated by some of the dem
ocratic leaders in 1868, and because
of which the World newspaper, (the
property and organ of Mr. Belmont,
who is the real chief of the existing
democracy,) threw overboard Mr.
Seymour, believing him to be
unfriendly :u the national banking
system. Hence, when he stigma
tized this proposed financial reform
as a democratic party measure, he
was simply practicing a shrewd trick
to insure the defeat of a policy he
chooses to oppose.
Not content with misrepresenting
the character of this reform and
striving to make it odious by attrib
uting to it democratic paternity, he
commits the further injustice of con
founding it with "inflation theories,"
and cites the experience of Contin
ental currency and French assignats
as warnings of what would result
from its adoption and seeks to
make it appear that the financial
prosperity which the country exper
ienced during the war was not due
to the issue of greenbacks and con
stituting them a legal tender, but
drather to the existence of an extra
ordinary demand for the products of
Uabor and the draught upon the la
bor force of the country for soldiers.
Had he looked for a moment at
the other side of this question, he
would have perceived that, with this
demand for soldiers and the prod
ucts of labor existing, had there not
been a better financial system than
that of either Continental currency,
or our present National Bank cur
rency, instead of enjoying financial
prosperity, the entire business of
the country and operations of the
government would have been inex
tricably embawassed. Now, what
was this better currency? Further
along Mr. Blaine tells us that it was
greenbacks, which were then con
vertible into 5~*20 bonds at the op
tion of the holder, in sums of $jo or
any multiple thereof.
Just so, and as long as greenbacks
were so convertible, they continued
to be good money, nearly at par
with gold but as soon as the con
vertibility provision was repealed
they declined in value, until, in
June 1864, $400,000,000 would pur
chase only $140,000,000 of gold
coin. The year previous $300,000,
000 had been equal to about 285,
000,000 in gold. In other words:
while they were convertible into
bonds their greatest depreciation
wa to about 95 cents, but when no
longer convertible they sank to
about 35 cents. Why? Mr. Blaine
tells ub in one place, that it was be
cause they became to be regarded
as irredeemable, and, in another
place that it was due to an increas
ed issue of $100,000,000. But it
is obvious that the true cause of the
depreciation is to be found in the*
repeal of the convertiblity provision,
for it is not true that the public have
ever regarded the greenback curren
cy as irredeemable.
As long as they were convertible,
when not needed as currency they
could be invested at par in interest
bearing bonds hence, their value
was always nearly at par with that
of the bonds. When no longer con
vertible but really redeemable in
gold whenever the gold was obtain
able, they became subject to the
same law that governs all paper cur
rency based upon gold redemption.
Thac is: they depreciated in value
in proportion to their excess of vol
ume over the quantity of the re
deeming medium in circulation.
Had that provision never been re
scinded, and had the volume of
greenbacks increased to the aggre
gate value of both greenback and
bank-notes now in circulation, the
same influence which maintained
them at par with the bonds in 1862-3,
would continue to maintain them
at par with the bonds, and above par
with gold. This is obvious to every
careful and unprejudiced thinker
who has ever studied the subject of
In his advocacy of the national
banking system, Mr. Blaine, also,
makes it evident that he has looked
at this matter only through parti zan
spectacles and in attempting to
fasten the responsibility of this most
outrageous swindle upon the late
Salmon P. Chase, he does the mem
ory of that gentleman gross wrong,
.for he must know that the scheme
was devised by New York bankers,
who were Called in and consulted
by the congressional finance com
mittee. That circumstance was
notorious in Washington at the time,
and ought not to have escaped Mr.
Blaine's memory. We think he is,
also, in error in saying that Mr.
Chase requested the repeal of the
section of the law providing for the
convertibility of the greenbacks into
5-20 bonds for, if our recollection
is correct, it was that provision, and
not its repeal, which Mr. Chase rec
We regret this speech deeply, for
we had hoped that the republican
party would ultimately adopt curren
cy reform principles and reduce
them to practice and we cannot
even yet believe that it will allow
itself to be used by the great mon
ied monopolists to effect the utter
impoverishment of this country in
order to increase the wealth of the
Rothschilds, Barings and others,
who have so controlled the financial
policy of the world as to compel
"the nations of the earth to pay
tribute to them." Why should the
American people become mere
"hewers of wood and drawers of
water" for these money lenders of
—Blaine's friends are doing all
they can to ruin his prospects for
the presidency, by urging his claims
too soon. They are arousing jeal
ousies and attracting criticism in
stead of making friends.
The Whiskey Frauds.
When we wrote a magazine arti
cle, a year ago, on the official cor
ruption existing in this country, al
though aware thai it was common
to both parties and extended
throughout every branch and de
partment of the national, State and
municipal governments, we had no
adequate idea of the generality of
its prevalence and the extent of its
fraudulent operations. The recent
trials of what are known as the
"crooked whiskey" cases reveal a
state of things that ib truly astound
ing. Here are government officials
high in authority leagued with those
occupying the most inferior posi
tions, and with distillers and their
employees, liquor dealers, porters,
draymen, night-watchmen, editors,
local politicians, and clear down to
the level of lewd women, in a con
spiracy to defraud the government
of its revenues arising from the tax
Already a large number of these
conspirators have been tried, con
victed and imprisoned, and among
them are several who-occupied em
inent positions in social life. Men
of wealth and prominence in their
several communities, honored in
their relations with their fellows,
standing high in their churches, and
looked up to as worthy of imitation,
now fill the felon's ceil and wear
the disgraceful garb of prison-life.
And still the work of exposure goes
on, until even the private secretary
and intimate friend of the President
stands before the court on trial, and
bold political opponents dare even
to charge the head of the nation
himself with complicity in these
frauds. Truly, this is an astound
ing condition of public affairs. It
surpasses all the exposures of cor
ruption in the most corrupt of the
corrupt courts of Spain and France.
And that this state of things should
exist in this most intelligent age and
under this best government the
world ever saw!
There is no use of attempting to
deny any part of this story. The
truth is positively demonstrated and
stands exposed to the world in the
columns of thousands of newspapers.
True, Gen. Babcock is not convict
ed, but he had no business to so
conduct himself as to lead to his
being accused and making his in
dictment possible. And, it is true,
too, that President Grant is not in
dicted, but he ought to have so
behaved as to stand far above ac
cusation, insinuation, or even sus
picion. He ought to have remem
bered that, when he took his seat
as chief executive of the United
States, he was no longer Mr. Grant,
nor General Grant, but the head
officer of the nation and the repre
sentative man of the American peo
ple, and been careful not to give
even the most virulent of political
opponents opportunity to speak ill
of him, for the reason that whatever
stigma attaches to him must, in some
degree, reflect upon the entire peo
To make the best of all this to
concede that Babcock may not be
found guilty and that the insinuations
against President Grant are vile and
unfounded slanders it is still a hor
rible picture, and shows a shocking
condition of public morals. But we
can hardly think that its most exag
gerated phase justifies all that is
said concerning it and the deduc
tions that are drawn from it. It
does not, by any means, prove that
the entire community is corrupt, not
even that the entire republican par
ty is "rotten to the core nor so
much as that all the leaders of that
organization are dishonest. If Bab
cock, and even the President him
self, were found guilty of complicity
in these frauds, it would not follow,
as a necessary sequence, that all
prominent republicans are unworthy
of public confidence and all such
sweeping general charges axe foolish.
The membeis of the republican par
ty are very much like the members
of the democratic party, and those
of the Independent organization are
scarcely different. All are human
and all are liable to err.
Neither is it true that the exist
ence of these frauds proves that our
system of government is a failure.
Similar corrupt practices have dis
graced every form of human govern
ment. Even the theocracy of the
Israelites was not exempt, as is
shown in the story of the sons of Eli.
One thing, however, is demonstrated.
If even the most exaggerated state
ments concerning these frauds are
true, it is proved that our govern
ment is competent to detect and
punish the offenders, and that, too,
when these are influential members
of the dominant party. That even
the President is not only powerless
to shield his friends, but that he
himself may be suspected, accused
and, if g.iilty, impeached, convicted
and punished. Still more, they
show that the most powerful mem
bers of a dominant party are liable
to be dragged down from their ex
alted positions and punished for
criminal practices by those of their
own party. And all this without
revolution and without embarrassing
the government or disturbing pub
Instead, then, of weakening our
faith in our system of government
and convincing us that the people
are sunken in hopeless immorality,
these occurrences ought to be ac
cepted as evidence that our govern
ment is able to protect itself against
dishonesty, and that there is suf
ficient morality remaining to lead
the peopte to detect and punish
crime. But they, likewise, teach
us another lesson, and it "is this:
that our blind devotion to party is
wrong. But for that fault these
enormities could never have occur
red, for the perpetrators would not
have felt secure. While, then, we
are blaming Joyce, McDonald, Mc
Kee and their co-conspirators for
their knavery, let us not forget to
blame ourselves for our our own fol
ly, which made their knavery possi
ble and, while they suffer in prison
for their sins, let us repent of ours,
and "bring forth fruits meet for
Chicago & North-West
Passengers for CHICAGO, Detroit, Toledo
Cleveland, Buffalo, Niagara Falls, Pittsburg
Cincinnati, Rochester, Albany, Toronto,
Montreal, Quebec, Portland, Boston, New
York, Philadelphia, Baltimore, Washington
St. Louis, Cairo. San Francisco, Sacramento
Ogden, Salt Lake City, Denver, Council
Bluffs, Sioux City, St. Paul, Marquette,
Escanaba, Menasha, Madison, Cheyenne,
Omaha, Yankton. Winona, Dututh, Green
Bay, Milwaukee, and all points North, West
South and East, should buy their tickets
Ghicago & North-Western
Close connections are made at Chicago
with the Lake Shore & Michigan Southern
Michigan Central. Baltimore A Ohio, Pitts
burg, Fort Wayne A Chicago, Kankakee
Line and Pan Handle Routes, for all points
EAST and SOUTH-EAST, and with the
Chicago Jk Alton and Illinois Central for all
Close connections are also made with the
Union Pacific U. R. at Omaha for all far
Close connections are made at junc
tion points with trains of all cross roads
PULLMAN PALACE CABS.
These celebrated cars are run on all night
trains on the lines of this road.
This is the ONLY LINE running these
cars between Chicago and St. Paul or Chi
cago and Eilwaukee.
At Omaha our Sleepers connect with the
Overland Sleepers on the Union Pacific
Railroad, for all points west ot the Missouri
River. Among the
Inducements Offered by this
to the traveling public are all the modern
improvements Rock and Gravel Ballasted
Track, fUeel Rail, Rock and Iron Bridges,
Parlor and Drawing Room Day Coaches,
Smoking and Lounging Cars, Westinghouse
Sefety Air Brakes, Miller Patent Safety
Coupling and Platforms, Speed, Safety and
Running Through Five Great Skates,
and operating over 2,000 miles of road, this
Company presents to the traveler facilities
that ARE NOT and CANNOT be oflered
by any Competitor.
All ticket agents can sell you tieketa via
If you wish the best, traveling accommo
dations, you will buy your tiekets by this
route, and will take no other.
W. H. STKKNEIT,
Gen'l Passenger Agent.
Gen. Sup't. 12yl
BOOTS & SHOES
BOOT AND SHOE PACKS,
and all kinds of
Warm Foot Wear for Winter.
To be found in Goodhue County.
Our stock is composed largely of our
own manufacture which wesell at about the
same prices as you can buy Eastern Work.
FAMILIES AND GRANGER.4
HIDES, SKINS AND FURS,
Coma and see us before Buying.
G.R.STERLING & Co.
RED WING MINN.
piANO S AND ORGANS.
VARIETY OF STYLES
OF THE BEST QUALITY, AND
ON VERT LIBERAL TERMS.
Call and see before purchasing.
Music Rooms adjoining Dental Booms.
F. A. WILLIAMSON, Agent.
G. H. & W. H. CRARY,
Doctors of Dental Surgery,
Office in new Post Office Block.
Residence on Third street, with MM,
F.Towne. Red Wing, Minnesota.
Daniels & Simmons.
On Corner of
4th St, and West Avenue.
ORDERS PROMPTLY FILLED
ED WING IRON WORKS
Are Rebuiltand Running Agaiffi.
Real Estate and Law.
$100,000 To Loan,
Loans made on good Real Estate secu
rity. Office at old place, over Hawley
& Kellogg'a Drugstore.
B. B. HERBERT,
Attorney and Counsellor at Law,
and Dealer in Beal Estate.
Offers for sale, lots in Institute and
South Side Additions to Red Wing, lots
in Cannon Falls, Farms in Goodhue
Counny, Minn., and Pierce County,
Wis. among which are the following:
A FARM for sale in the town of Good
hue of one hundred and twenty acres,
one hundred under cultivation, the verv
best of soil, a house and barn, two good
wells of water, a hundred fruit trees,
shrubbery and small fruit. The farm
is in a good neighborhood, convenient
to school and churches, and is one of
the most desirable locations in the State,
and will be sold on easy terms. For
further particulars inquire at this office
B. B. HERBERT.
LOTS 3 & 4, Block 2, East Red Wing.
Will cut these lots up and sell in parcels.
S. E. of Sec. 20, Welch Township.
S. W. 14 X. E. )i Sec. 20, Welch
N. E. 14 of Sec. 31, T. 25, R. 15,
Pierce county, Wisconsin.
S. of N. W. of Sec. 36, T. 25,
R, 18, Pierce County, Wisconsin.
30 acres in S. E. of N. E. )£,
Ses. 12, Pine Island.
N. of S. E. of Sec. 12, Pine
$2,000. A Residence in
Red Wing at a
Lots 6 and 7 in Block 4, Sweney's
addition, on the corner of Third and
Jefferson streets, with a good story and
a half frame dwelling house, new, a
good well of water and other improve
ments. This place is convenient to the
West school house and is most desira
bly located, and while it is offered for
less than its cash value, time will be
given on part of the purchase price if
desired. For further particulars inquire
of JACOB HAMMOND, on the place, or
at this office.
WHEN you buy, buy the best, and get
a home convenient tobusiness,to schools
and churches. A number of the most
attractive and desirable building sites
in the city of Red Wing are now offered
for sale or exchange in J. Brooks' Sub
division. Easy terms given. Speak
quick. For further particulars inquire
of B. B. Herbert, Real Estate Agent.
and dealers in
FLOUR, GRAIN, AND WOOL
I WING, MINN
WINDOW SILLS, CAPS, &C.
^ill supply theiradethrough the State.
0. A. CARLSON.
ee advertisement of Marble Works
Dealer in all kinds of
E A N I S E
Which he keeps constantly on band
As Low as the Lowest!
ELSON 4 PETERSON.
Hardware, Stoves, Tinware.
FARM MACHINERY and IMPLE
BUILDERS' HARDWARE, ME-
CHANICS TOOLS AND
Oppasite the old Post Office
Bath srteet, Red Wing, Mina.