The Ripley advertiser., 1845-11-15
From n, New York Morning Mes.
TIE GOLD HUMBUG.

From h, New York Morning Nsas
THE GOLD HUMBUG.
a few years since, when, AMID the evils of
most ro'nous abundance of paper money and A,
uhnaiural scarcity ot CON, the democratc Darl,
persisted 10 purifying ihe currency, by dlscoua
'enancing The mulinasions promis es of co,no
rate speculators. AID encouraging The ,ucr.as,
me national coinage, ,the whole Commercial
word rang with 'pf:ohrous epthe's, bes'oweo
upon the grea, le ders Of the people, 10, - -,
alleged foiiy IN supposing that specie was pre-
'eFaele 10 paper. The gold bill of 1871 was
Carried, 10 the face of The s'renge,t opposition
"s onJect oeing TO encourage The lrp ,rtan,
ahd to retain a necessary quantity, of gold in
me country. No measure saw every more
oersevenngy reviled than the measure of Co.
Benton 10 establish branch minie, "a give The
imported gold an American form, IN which !,
cou q circulate freely and fa;niliarly among The
people. Those measures have served 10 assis,
N more IMAM doubling thu quantity OF national
com 10 CIRCULATION, and ihe quantity OF specie in
me country has become as large as in necessary
Now' however, the opponents Of specie curren
cy nave changed their note, and nothing but
specie Will SUIT them. The IN ational In,ellipen
ceF' OF q late date spoke as follows;
III lsuqulte clear, we thiik, the safest anc
most sohi business for us would be to make ou,
exports exceed our imports; bee ause the balance
Whatever Il may be, will come TO US in coin. ,!.al
is 10 say, if in l646. we export only one hun
dred millions. the balance al. mn m ni0,s due
us by the residu. u the ,oorld UM be received in
the HArD Uaich should be as ,oeic me 10 the loco.
Jo:os as tie whigs But If the parry in power
disturb the Tar f. The reverse will be The case,
ard the c. nscqucrce may be another CONNER
cal and financial revulson, perhaps as dlsas
'rous as that Of fls37-which may Heaven fore
fend!"
Thu, is emphatcalIy "g,'d hu nbug."--
Why, this Imelligencer, that for years re,tpra.
ted the stupid assertion that tn re ".s NJ, specie
enough IN The world TO trarsac' - hN' II ss,'
now talks coolly ot importing $50, 900 000 per
annum. In such a stale of commerce, supposi.
BILE to coEthue on such bss,a, how chap
would money become in the course Of a few
year,! and how high level of prices would rep
resent that che mansj!
Alta la,e,da'e. he B.. K of gland has, ,on
hand s7J00a,oD0 of sp"cip, ard the Bank Of
France $50n0O,00O-makiny S.2JGoC, o,
which would supply two years a~d a half OF the
InieHigcneer's sound trade. After long i'm.
pOTt Vi Tue pIeCtOue ueds, rs L. C5ullJt DC eaten
or drunk, void II not get so chap as TO be expor
ted at prof ! ltso. the "sound business
would be liable 10 become dcranged with any
disturbance Of the tariff, from an extreme OF
specie, and always leaving room to "regula,s.'
Now, the grea, prnc'Fe Of The democratic
"regua,ion" was Simply TO fix to tho precious
meta legal value, and as nearly as possible
that which they had obtained abroad, in order
that nothing might interfere with THAR free in.
Aux and efiux, Having done that, ii become
very apparent that they would always flow "a
the point where their value was he greatest -
II they become ecarce in The United States
they will come here in spite Of all the regulations
Of combined Europe. II, after continued i'm.
port, they become cheaper here than in Europe
in consequence OF their accumulation here, ant
depletion there, they will 60 there in the face o
all the tariffs that can be manufactured. The
only way to retain any considerable quantities
here, is TO give them value BY increasing the Dc
pand for Them That ie, to make them alone
receivable for 8 ate and federal revenues
} They will then not leave the country until sha
demand 10 mere than fully satisfied. The whit
system is to make them stay in bank vaults 3.
virtue Of parchment laws.