Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-08-27
Paner Money.

Paper Money.
The OPINIONS OF WASHINGTON AND OTHERS, OF
Revolutionary MENoRY, CONCERNING PAPER Is
sUEs.-The following extract is from letter written
by Richard Henry Lee, to Gen. Washington, soon
after the revolution.
"ls it possible that plan can be formed for issu-
lug a large sum of paper money by the assembly
do verify believe, that the greatest have in the
world, could not devise efectua plan for ruin
ing Virginia. should suppose that every friend to
his country, every honest and sober man, would join
heartily TO reprobate so nefarious plan for sPecua
tion."
The following is an extract from Gen. Washing
toms in reply
81 never heard, and hope never shall hear, of
any serious mention of paper emission in this State.
Ignorance and design productive Of much mis-
chief The former is the tool Of the latter, and is
often set at work suddenly and Unexpectedly"
In writing afterwards to Mr.. Stone, of Maryland,
he asserts
al do not scruple to declare, that if had voice
in your Legislature. it would have been given decided
ly against paper emission. upon the general prin-
cples Of its utility, representative, and the ne
cessity Of it as medium"
In letter to Mr.. Jefferson, he says
'Some other States are in my opinion falling into
very foolish and wicked plan of emitting paper
money. | cannot, however, give up my hopes and
expectations that we shall ere long adopt more Just
and liberal system Of policy" 'Gen. Mcdonald be-
longed to the legislature Of this State. The last
of his life was (after being carried purpose TO the
Senate) to give has voice against the emission of
paper currency"
The following is an extract from speech, deliver
ed by Fisher Ames in Congress, 1857.
In spite of national beggary, paper money has stil
its advocates, and probably its martyrs In spite of
national dishonGr the continental impost is still OPP
posed with success. Never did experience more CON-
pletey demonstrate the iniquy of the other. But in
defiance of demonstration, knareS will continue to
proselyte fools, and to keep paper money faction
alive The fear of their has annihiaed cre-
dit their actual success would annhiate proper
y."
Far different are the views of Modern Wings
They in love with paper money, and he, who may
chance TO disagree with them, and dares to assert with
General Washington, that the paper money system
is ga foolish and wicked one, he is denounced as an
enemy of his country. They have learned wisdom
from the British Aristocracy, and the man who dis
sents must be branded an EXETER of 'the poor
against the rich,"-an agrarian and leyeller.
OErDANIEL WEBSTER, In 1924, denounced paper
money and its makers in the following unequiyocal
terms. Paper money arguments have since palsied
his tongue, except in praise of the evils he so elO
quenty depicted; but they have not changed the me-
rits of the question:
81 would say to every laborer, to every every
where, who wishes by honest means to gain an hon.
est living, beware of ,rolres in sleeps clothing
Whoever attempts TO bring on distress IN money mat
terS, and drive the country into paper money, slabs
your interest and your happiness to the heart! The
herd of hungry icores who live other mems
iRgs. will rejoice such state of things. Paper
expansions A system which 0bsorbs into their
pockets the fruits of other mems industry, is the rery
system for them. government that countenances
uncertainty fluctuations, and finally paper money, is
a government exactly after their o,rn heart. Hence
these men always for change. They will never
let well enough alone. Let no man be able to say
whether the money in his pocket at night, will be
labor till double acork shall earn but half living
give them this state of things and you give them the
c0nsumnaatiOa Of their earthly bliss"