Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-12-02

esns- ,,er tho war closed a. continued IN imrto,e i
.sis ~ y isss wh'a tho sssernmsn, obtained loan Of
fS.SOo,oOo irom the Rolsehilds 81 London, and like
sumfroa Holland h order 20 redeem tho currency. This
redsnpuon went not at but at lint the VI
ono silver tor four pspst re.se- In the sueeeedas year.
pfo,emeni CT the finances VI the emp,r Prussia for the
sse cause pursued the course, and issued paper rao
ney; the management OF which, however, retains in
ins own -haaas entirely. Ths amount outstanding ws.
never exactly known TO the public, bat has been e.i
mated at about Ssoocoooo. Il , kept f.r vspa
uon by beng received fcr Dues the taxes
being payable one-hslf in paper money. Austria US
ed the same fatal means 10 obtain Ia srrc.oarcss An
incredible amount issued. anl tell u thr,a
To become altogether vauee.. To reduce the out,
standing aoun voluntary contributions we're called for
the church plate eonhscated; coin known "biou de-
based oneaf Its nominal vaue Introduced; the
OF gold and silver prohibited; forced oaD OF SIS 900 COO
exacted; encfnons duties laid upon colonial produce the
postmoney raised 3UO per cent: property AK
and the faith OF the Emperor pabey pledged that no moro
should be- issueda without the d..r
edotect The amount ofpaper siioat $500 O0O
In This state 81 affairs lsf decree promulgated
amidst the rolls OF drums. tina, the would issue
now paper Of which dollar soud redeem 1--WE OF the
old paper Th. simply repudating $500 900 000
leaving I'm ercaiaron In paper Of another
form only This being done. the again
and the amount outstanding again il2 900 600 flor
ms ~ ISIS Republication was sgan feaotsj TO- and
paper was issued 10 redeem the old the rate oi for so
Thus Tor one hundred tons FINALLY used the government
rd1ced obligations rs TO aud then 90 eight The
extent oi injury done public morals by this a,r.cus
conduct OF The government has been iacaculabc The
government since the peace, has been compelled Il, harrow
IN different sums, over 900 900 horns aud its
have never elused its expenditures These are the lead
ing features Of the paper money existing the leading
sats- Of Europe. No country has resored to paper
issues m time OF profound peace, merely from dsclna
uon on io part nj the members OF the 10 pre
scrih" the true remedy OF and As
have said, the prcecn Of limited
law To S5OOOOO0 and cannot De- increased without the ac
hon oi Congess The difficulty a. be appr.hended is how
ever that Congress- governed - by party action mny
be authorize the continuance OF this
mode o raising means Than the aud
ihankrss means al taxation. The amount So 900 600
~ not dangerous amount and IL will Doubtless be all alb
sorej IN the operations Of exchange and may comm aud
esmai premium Tor that purpose, especially while money
~ plenty and the tendency Of the funds west The
means Of redeeming the demand, specie must
De derived from the receipts of the house II the
mount should be- increased and the foreign exchanges
come adverse, causing serious shipments Of specie the
whole oi the notes would tend 10 one pojnt
New lork-and perhaps IN such amounts as IN exhaust
the means provided ior their rcdempon exposing the
federal government 10 dishonor, and leaving Ia the
hands Vi tile people appreciated paper, which, until
all absorbed, would he The only means of revenue
NJ ability oi the government 10 borrow stock 10 sup
ply it, wants in such moment, would be greatly impalr
the United States Government returned from abroad after
an unsuccessful attempt In negotiate her cent Stock
This was the erct" at the delinquency OF the State Gov
'rnens upon he credit Ut the federal treasury which has
paid, principal and interest," since its tOruaton
OUO aud never nliered IN payment. A faure arising
from the dshonor ot money, would indeed fatal
These ate contingencies which arise shond Congress
pepetuate this manner OF supplying the treasury From
e present issue, liable IL bear per cent interest
uee but little DANGER because il money should rise in
Nu' anu exchanges become adverse, gradual increase
OF the rate OF interest would prevent them from being pre-
Cnted too suddenly for payment In this view thew form
cd