Wheeling compiler. [volume] (Wheeling, Va. [i.e. W. Va.]) 1829-1831, 1830-07-07
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TFrom CAsrIELU's American Argus. ]

rFrom CANriELu's American Argus
Incur last we gave the recent law Of this
state against the circulation Of notes ofthe
banks of other states al or the first day OF
Sentember next, of a less denomination
than five dollars This act has been bro't
about by the deliberate and earnest APP
peals N favor ofan abolition of paper cur
rency made IN this State and in others, by
a few who sec in such a measure the only
eiTectual means of rendering currency
soS1d, safe, and uniform.
But it Is not given to all 20 see alike ::
and We are one of the number, who do and
shall believe, thar so long as currency
suits the purposes of commerce and over
land remittance; as our paper currency
subserves that purpose, that it is yalua-
bic one; so long as 1t is redeemabe on de-
mand. or as often as demanded (Which
comes to the same thing for any more gen
orally recognized measure ofValue' that II
is a sound currency; that so long as tho
senses, backed by medium portion Of
sense, can assure Its identity and integrity
that it iSa safe currency,--and that final
ly, so long as it IS eXchangeabie for tn
same portion of tie staff or water, or any
necessary OF life 10 tins place as IN that.
that It Is a uaIo.m currency.
Now let Us apply this definition Of tic
qualities Of a currency, TO the Eagle aLc
Dollar currency, after which some well
meaning, but deceived spectators, are
hankenng. luthe first place then, ltnecds
no prophet to rise to make il known, that
for all tie purposes Of commerce, there Is
or must be, as much expense, and more,
attending the transport Of those bona hde
funds, bullion and coin, when they must
cross the half Of our territory, as IS shaved
from respectable paper, that has come from
the furthest extremity Of The states. Ia
addition to which there is and must be
called into operation by the aforesaid trans
port, ds large draft on confidence and
credit, and al rcUerso, as great a peril OF
oss encountered, as IS employed IN the
present system oEusing paper money.
We have said that our paper vas q safe
currency, so It is. That kuaves who love
to live by their wits, should deluge the
land with a counterfeit currency, Is la
mentabe; but even IN this state Of things,
there IS a consoling point. The art Of the
Counterleuey proceeds on the principles OIL
imitation; to render which perfect, beyond
detection, he must succeed in the paper
rs cousisience, hue and lIghtncss; the
inks, aud the several Eues, of which there
ar often at least four IN the same noie; the
size of the impression; the facsimile OF sig
natures, the private marks, tbe dies, or the
yIgneues, five or six kinds of engraving,
90 the same note, the lettering, ornamental
a.d plaiu, and engine rulng, sc. 1t is|
almost al lmpossIolly for tie deception to
tul lh5ee Gays undecided. and undescrl-
ped. With the AAGUs as faithful sea-
unel over these descriptions, the counter
leiier reaps but small gaIds, AID N ilct
the facility with which the able and veal
Thy have thereby discovered and guarded
against spurious paper, has, which Is a
public benefit driven many countertets
from circulation, thereby protecting the
poor and the ignoraut; Who are always
most in danger Of having bad paper toisted
upon them
That It is as SAFE, especially when es-
tablished as it's here, when the offences
of expensive paper, skilful engraving, aud
private signatures, as safe as is any meta!
coin, may he placed beyond doubt by IN
cldents like the following; which show i,
to be morally certain, that a base and a
dulterated coin may be thrown into clrcu-
lation and dlhused, very innocenty, from
its perfection Of imitation, dccelving the
eye, the ear, and the sense Of smell; a
coin too so very base, as to contain only
one tenth Of the genuine metal
4 person Oflhe name Of Bandon was ia,
ken up in Kentucky, and lodged 10 Jail,
on suspicion that the coin found upon INN
was not genuine.
The CON, on being offered at the Bank,
was pronounced by the Teller TO be spuri.
Gus. Four or FIVE Shversmlths, on their
first looking At the dollars which had been
cut, united IN opinion as 10 their being a
spurious coin. They were subsequently
called upon to give their opinions by che
mical analysis, which they did. and they
united IA opinion that ihe metal was As
good aud pure silver as the Spanish dol
lar. The Teller Of tie United States
Bank was sent for, and he pronounced the
Il 10 orker IN sill