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Editorial
August 9, 1875
The Daily Gazette
Wilmington, New Castle County, Delaware
What is this article about?
Editorial from the Louisville Courier-Journal argues that Southerners, having suffered from worthless Confederate currency, should resist demands for more greenbacks, as inflation leads to repudiation and ruin for all sectors of society.
Clipping
OCR Quality
98%
Excellent
Full Text
No More Greenbacks Wanted.
From the Louisville Courier-Journal.
Of all the people of the country, the people of the South should be most deaf to the clamor for more greenbacks. It is an anomaly to say that a burnt child does not dread fire. We have had our fingers burnt. We know all about the blessings of "cheap money." The virtues of the "new issue" against the "old issue" are familiar to us. The more we got of each class the worse off we were. There is but one pretext why the South should be for inflation, and that is an unworthy one. In order that we may get "more greenbacks" we must have something—a bag of wheat or a keg of whiskey, a bale of cotton or a bunch of bananas—to get them with, and when we get them we want them to be good for their face and on their face, not like our Confederate currency, which came to be so valueless that the farmer preferred to keep his "truck" to selling it. "More greenbacks" to-day mean "more greenbacks" to-morrow, to the old end—repudiation. Rag money is ruin; ruin to every moral and political interest; ruin to all industries; ruin alike to the rich man and the poor; disturbing and disarranging all things; keeping the people in a perpetual mess and muddle; opening the way for the basest men to seek by the basest means the basest objects.
From the Louisville Courier-Journal.
Of all the people of the country, the people of the South should be most deaf to the clamor for more greenbacks. It is an anomaly to say that a burnt child does not dread fire. We have had our fingers burnt. We know all about the blessings of "cheap money." The virtues of the "new issue" against the "old issue" are familiar to us. The more we got of each class the worse off we were. There is but one pretext why the South should be for inflation, and that is an unworthy one. In order that we may get "more greenbacks" we must have something—a bag of wheat or a keg of whiskey, a bale of cotton or a bunch of bananas—to get them with, and when we get them we want them to be good for their face and on their face, not like our Confederate currency, which came to be so valueless that the farmer preferred to keep his "truck" to selling it. "More greenbacks" to-day mean "more greenbacks" to-morrow, to the old end—repudiation. Rag money is ruin; ruin to every moral and political interest; ruin to all industries; ruin alike to the rich man and the poor; disturbing and disarranging all things; keeping the people in a perpetual mess and muddle; opening the way for the basest men to seek by the basest means the basest objects.
What sub-type of article is it?
Economic Policy
What keywords are associated?
Greenbacks
Inflation
Confederate Currency
Southern Economy
Repudiation
Cheap Money
What entities or persons were involved?
People Of The South
Confederate Currency
Editorial Details
Primary Topic
Opposition To More Greenbacks
Stance / Tone
Strongly Against Inflation
Key Figures
People Of The South
Confederate Currency
Key Arguments
Southerners Should Oppose Greenbacks Due To Experience With Worthless Confederate Money
Inflation Pretext Is Unworthy
More Greenbacks Lead To Repudiation
Rag Money Ruins Moral, Political, And Industrial Interests
Inflation Disturbs Society And Enables Basest Pursuits