New-York daily tribune., 1843-10-28

would be little needed The Government ll,shs
also have at each of the Safety Funds, a place
of special deposit-a sort OF savings BANK lol al
snms nnder one hundred dollars-thc deposItes
in which should bear interest at the same rae O.
tho Trcasnrv Notes. so that no Treasury Note
naed bc issned under one hundred dollars. Thus
ererr nerson with small means who might cnoose
to save his money, might lend it to the Govern
ment and receive the same rate OF interest as
those of greater wealth, and be able at all tlmes'
after HAVING an account certain length OF uiae'
to draw his money.
In order to guard against the alteration OF
counterfeitng of the circulating medium seven
different notes might be made, all OF different
mates and of the following denominations one'
Five, Twenty, One hundred rive lluhul0u' Ii,l
ono Thousand, and Five Thousand dollars
These notes would be sufficient TO make any
chance except under one dollar Three flves
ond fonr ones would make any sum to dollar un-
der twenty: add four twenty dollar notes, and
those would make any sum under one hundred
dollars: add to these four one hundred dollar
notes. and they would make any sum under five
hundred dollars one five hundred dollar bill
added to these would make any sum under one
thousand dollars add to these four one thousand
!
sand dollars To guard against the alteration OF
bills besides having them of different plates, the
one dollars bills might be made ofa crtanlength
and width. the tivcs quarter OF an men longer
and wider as the amount of the bills increased,
the size also should be increased; thus, II one
sum were extracted and another put in its place.
the size as well as the plate would at once pro-
claim the fraud Should this plan be adopted,
n pntp tG ~
guarded against countereiting, instead of the
host we now have, not only OF all denominations
but of multitude of banks and plates, and also
spurious bills, which have often been issued when
no such bank existed. There are few people,
even merchants, in the State of New ork, who
would not be liable to be imposed upon by spurl
Gus bills in their own State, there being such
MULTIPLICITY of Banks that | doubt whether one
in hundred could tell all the banks In existence
in one State, unless he had list Of them before
him for this reason we must have Bank Note
and Broken Bank Dctectors, and detcctors OF de-
precated paper; and these, to keep up with the
| times, must be studied every day, and even then
people will often be deceived.
To show that the legal rate Of nterest-say
seven pcr cents more than double what it
ought Justly to be, suppose that young man on
thousand dollars. Being in good health, he de-
tcrmines to earn his living, and not to use either
the twenty thousand dollars or the interest He
loans the money (on bond on mortgage at seven
per cent INTEREST," payable half yearly, and this
interest he regularly invests in the same way
In about ten years the principal will double
when he is thirty-onc years of age it will amount
to forty thousand at lorty-one years 1t will
amount to eighty thousand at ftty-one to one
hundred and sixty thousand /; at sxty-one to
three hundred and twenty thousand at seventy
one to SIX hundred and forty thousand; and at
eighty.one to twelve hundred and eighty thou
sand dollars. Now this man never had but
twenty thousand daars other people have earned
twelve hundred and sixty thousand, and paid it
to him simply for the use of twenty thousand.
Thel money has not fed nor clothed any one; it
has only enabled people to exchange one piece of
property for another, and for the time being it has
been held in lieu of certain quantity of goods
or piece Of land. 1t has not added fraction to
the wealth Of the country it has only enabled the
people to exchange useful articles after they had
produced them. There is not one man in ten
thousand who amasses, with all his industry and
energy, fortune SO large as these twenty thou
sand dollars accumulate, nor is there one chance
in ten thousand that the same sum invested in
any kind of real estate would produce such an
amount, or even onc-third of that sum, clear of
taxes, &C., and why should this fiction, money,
produce such results, tyrannlse over the industry
Of nation, and by its unjust use obstruct the
couresc of useful business
Money always has been and will continue to
to be monopoly until Government provides
some source from which there will at all times be
supply furnished for the useful business of the
nation, so that it will be impossible for moneyed
capitalists to interfere with the necessary guam
tity Of money, or to change the rates of interest
To illustrate this clearly and simply, suppose to
exist community of FIVE hundred persons who
make their own government and laws and by law
adopt gold and silver coin as a currency, fixing
the rates of interest at six per cent and enactng
laws to hang any man who shall directly or indi-
rectly take or exact higher rate
Suppose this people to have in specie Sl2 to
eachindivldua together Sc, 6,eO0) whichis proba-
bly, larger sum for each person than any nation
can kecpin active circulation. -Four men hccomc
worth Ave thousand dollars each, and determine
to convert all their property into bonds and mort
cages at SIX per cent. interest. Having donethis,
two men call in one half the amount due them
(S5,000) and succeed in obtaining the money,
agreeing to hold 1t SIX months or longer for more
profitable investments. BY this means there are
but $1,000 left for the whole business of the
country. Suppose the two other individuals
to forcclose their bonds and mortgages and the
property to be sold for cash. If all the money in
the nation were brought together, the $4,000
worth of property could bring but s. 900 This
may occur and the people be robbed of their pro-
perty, and yet no change be made in the rate of
interest. These men have thought fit to held
their money, and no law can compel him to use
it, or remedy the evil unless Government proIides