Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-05-22

would receive double their present per diem with every
probability by the way, that the Congressman would
have his pay doubled quite as soon II not sooner than
the canal digger. M ]IFef
The evils then, which many anticipate from continued
and comparative rapid decline in the value Of gold are BY
no means OF such magnitude is generally supposed
and at any rate those evils DO they greater or less cam
not be averted by legislation; for the decline will be in
eyitabe If the present supply Of gold is to continue
the decline is gradual and to limited extent il viii Gre
ate but little neonvenieAce any interests and ii cannot
probably be rapid extensive as to occasion one
1.-THE of the suffering and he general arrangement Of the
pecuniary relations Of the country as was caused by the
financial crises Of mther 1879, 1926, or 1897 ssg
AL admit that change must be made in our me.
taie currency Topreserve the double standard is alb
soutey impractcablo under present and
the future prospect regards the supply of the two
metals To make silver the sole standard reject gold
would as have endeayored to show involve the viola
ton Of contracts, besides mourning heavy expense to
the naionb obgng it to redeem oil its gold coin at its
full nominal value thus tirowin the whoepresent and flu
ture depreciation upon the National Treasury and Mr.
Hunters bill appears to bcnot only the proper but
the only that be adopted under present cir
cumstances and prospects. aH
If the aatcipatons Of large decline in the value of
gold should be realized there is but little doubt that all
the principal nations in the world will adopt the
course and make that metal the only legal standard
Great Britain has already dore for long Of
years. and there is prospect that she will change and
France undoubtedly will follow her example
gold falls in value drive her silver out of crcula
ton, has already been the in the United States
The only why the result has not already
CURED in France u.s. that her silver coin has been rated at
almost three per cent less in vaus in comparison with
gold, than the silver coin in the United States.
The whole question resolves itsefno this should the
present and future depreciation of gold be sustained
clusively ythe National Treasury osshould
through the nation and among the producers Of it, has
the depreciation which has been stead
progressing in the world for long Of centuries
The former would be accomplished by the adoption Of silver
the only standard and the latter which the just and
equitable mode and which violates no rights public
or private, would be the result of Mr. Hunters bill
1t should be recollected that though the new silver
coinage is made legal tender between individuals only
for not exceeding FIVE dollars it will be receivable
without limit for all dues to the United States, thus
efectualy guarding against issue, the posi-
Oility Of any depreciation below its nominal value
If depreciation in the value Of god to the great
anticipated extent should take place. there be but
little doubt upon whom the loss from such decline should
fall for assigned whya decline the value
Of gold should be sustained by the National Treasury in
of production which would equally
apply to the fall in the value of copper iron from the
same II such decline is to take place in the
value of gold then of there is no for either
discussion or complaint OBSERVER.