The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-03-12

GOLD AND sILvER.-Strange as il may ap
pear, there are still, we find, persons VIII
believe Tor pretend to believo) that withou
paper money there would be no MONEY at al
that trade and business would stop. Rid
icuous as such an idea is, yet 10 hear nlar
who has the credit of being sane, argue thus
either denotes that he is grossly ignorant o.
his subject or is profound knave only in.
tent ON deceivihg his fellow man. We cbal-
lenge any advocate of paper dollars, to en-
ter the arena Of discussion, and successfully
combat the idea that there is not more than
enough gold and silver in the country TO an
swer the purpose of business. 1t cannot be
done; experience, facts, fgures-all 60 to
testify to the fallacy of such doctrine.
A few years ago Illinois was flooded with
paper money; in the course of time it de-
preciated; finally it was banished altogeth-
er. Then specie began to appear where
there was demand of money and prosperity
followed. At Galena, where the lead mines
are, there is nothing in circulation but hard
money and commercial paper. Trade is
brisk; and every thing moves OIL prosperous
|
any thing 10 sell, for which demand exists
Our farmers can secure the "hard," if they
desire, for every bushel of wheat, barrel of
-four and pound of pork they may have to
sell. Every thing is in their own hands; let
them demand coin and it must come. But
to the following from the Galena Jefferso-
nian:
"OUR CURRENcY.-Our currency in this
mining region is the best, without doubt, in
the United States. 1t is almost exclusively
specie, which, now that paper money is driv-
en- off, circulates in abundance. Yet much
as we are ahead in currency affairs, we think
there arc some evils which ought TO be rem
edied. A large quantity Of foreign coin has
worked into circulation which is excessively
inconvenient for common use, and in many
instances passes for more than it is worth.
For instance, FIVE FRANC pieces, which are
worth only 933 cents, pass in common busi-
ness for 95-or Ii cents above their banka-
BILE value. For small transactions, this
would be Of but little account, but when up
piled to the business of whole city amount
ing TO millions annually. it assumes quite
another aspect. No business man can afford
to lose one and fourth per cent. on his
money, and it is Tins the evil was remedied.
This kind of coin has greatly increased
among us, and will continue to do so, as
long as it passes for more than it is WORTH
Put it down to 80 cents and it will disappear
soon enough, and the hard dollars take its
place. This would be much more profitable
and convenient
The same is true of Spanish coin gener-
ally. QUARTERS will not generally weigh
over 23b or "a cents each. "BrTTs" about
IL to III, and "LoNc r1cAYUNEs" from ST
to 6 cents each. Bankers and monied men
understand this, and hence take their money
by WEIGHT. This is the only correct meth
cd, but impraclicable in common business
transactions. The way TO drive out this
worn-out currency is to put it down little
below the weight value, and it will disap.
pear Immediately. We can just as we'll have
an AMERICAN currency if we will, and why
not have it? The little patty frauds of our
present circulation can be obviated if mer-
chants and business men will but take the
matter in hand, and we trust they will not
delay to do so."-Americaa Unisn.