The bank notes circulate everywhere with cur-
rent greenback legal tender money, and in fact the
government is responsible for one as for the other.
The greenbacks are preferred by the people, who see
no necessity for the third party that is brought in by



140 THESE HARD TIMES.
the bank note currency. The loss of greenbacks
from fire or from any cause, and that never 'will be
returned for redemption, which is estimated at $50,-
000,000, inures to the benefit of the public treasury,
while the loss of bank notes from like causes is to
the advantage of the bankers. The assumed greater
security of bank notes, because of the private capital
pledged, in addition to the pledge of the ^overnmient,
is a factor so inconsiderable as to receive no atten-
tion; while the government stands the greenbacks
are good, and when the government fails the national
bank notes will also be worthless.
