The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-04-22
PAPER MONEY.


PAPER MONEY.
II said Of the Holanders that they ere the greatest
rogues in the world for they had stolen all their lands
from the But there greater rogues than the Ho
anders and Of these paper money II is greatest
liar in the world for it is continually making promises
cannot perform if it would and would if it could II
is cheat for is perpeualy practising impostons the
public and it is impostor for it everywhere pretends
be what il is not and character which it
not the slightest preensions.
These heavy charges be brought against "a gen
eman who according to the present standard of ndiyd
ual value necessarily be highly respectable since he
is patronzed by legislative bodies in all parts United
States aud is reputed be worth several hundred millions
But let whether we cannot make them good
Paper money is the greatest of all liars because it per-
peually promising what it cannot perform II promises
pay dollar in specie for every paper one, while at the
banks they have specie in their vaults redeem one
tenth, twelfth, fifteenth part of their paper issuesnay
in many their specie is less than the proportion Of
Falstas bread his sack in Dame Quckeys bills Hence
when any sudden unexpected demand specie comes
they close their doors without ceremony the president
and cashier avoid all demonstrations of public graft
lew Jays VII the storm blows
over but being xonerated from all personal responsible
ty by act of Incorporation return in good time again
resume their station in society and ready for new
Speculation"
That paper money is common and notorious cheat is
equally palpabe 1t continually playing tricks pub
lie ereduy, most especially the laboring classes by
them of the fruits Of their labor and Civ
ing them nothing of value in return The consequences
of this system of swndlingfor in it no bet
fall those who least able bear them
Those who with these speculations must
have invariably noticed that whenever any bank about
to fail the community is flooded with its notes. and you
scarcely any others in circulation in stores in market
places and in all daily transactions Of ordinary life The
more knowing first scent the putrid aar off
and by natural transition the suspicion descends from the
knowing to the less knowing, who palm the worthless
trash from one to the other until at last it centres in the
hands of those who have earned it by the sa eat of their
brow and who pay the piper without being allowed to
dance TO the music True the loss divided among so
many and generally in such small as would make no
figure in the bankers merchants account of profit and
oss but we must be permitted to tell these ingenious
.polosisats s for tee ihers ARE
~ u ,le loss or few dollars involves the loss of the
very necessares Of life for many days. and produces
real suffering than that Of thousands to the wealthy mil
ionaire But says the paper-balloon man, the
poor who live from hand mouth always exposed these
inevitable vicsstudes of e2 and they before
the invention Of paper money! Most certainly for owing
10 some strange effect of the organization of society or
some inscrutabe dspensation of Providence mankind
have in every nation Boosting Of its civilization and re-
inement exhibited little else than contrast between the
tbevx md fha MAJ rboJ,
want everything This cannot perhaps beavoided With
put changing the whole structure of society from its base
to its summit and the remedy might probably be worse
than the disease Still, maintain tha this mighty
,hasIn has been greatly wdened by The papenoney fraud
and that wise patriotic legislature wld aid in
establishing system which, while it grkly aggravates
these inevitable evils places almost nsuperse obstacles
the way Of their mitigation.
That paper money is arrant mpossr can !
deny II sheer counterfeit and like lord Peter in
Swfs Tale of Tub attempts to pass off rust of bread
for shoulder of mutton. 1t aspres to sain intrinsic
value but intrinsically worth nothing ause it
nothing be made out of nothing receves with
one hand that which is the fruit of mans Dor and with
the other gives him in return promise bay which is y
redeemed By another PROMISE and so dhe end Of the
chapter when like the rebrand in the pso Robins Ii
alive alive bee il goes out in somee's hands or al
burns his fingers In short it is prive4outlaw who II
can practise with perfect IMMUNITY all thd Eauds mpo =
sons false pre,ences and swndlings fosch ndivid- r.
ua or combinations not shielded by f incorpora- a
ton are fined imprisoned. ma
If the maxim of Holy Writ is true tder and gold an
it is most emphaticay of paper moa which, in its
present redundancy may really be caledle root of all
evil with very little exaggeraton. IL is part sa
engendered and brought forth in leg IN corruption
and both its offspring and its parent frs corrupts
the representatives Of the people by A indirect an
brides or other dehasing influences aud corrupts the "a
people first by the example Of their lsgor and next da,
by giving them standard Of value which is per-
peuay varying--is sometimes at par Others worth seo
nothing This constant huctuation in thentereit stand
ard Of value operates perpetual tssnlon and per-
pcual warning On one hand, peopls an the lookout
to take advantage Of each other by s ss Of change
in value on the other, operated b eyer-wakeful N
..nir;or ~ heioo deceived con6asr<,o, - "a dep
,., .-. clai
mae = w s' -" nien eanno'l thei
trast each other there is safety b. all becoming !,
rogues alike Those who chance h. vivid recocc- the,
Of the OF society in the Unitees during the Adj
universal suspension Of specie pyny the banks nnq
need not be reminded Of the deplasaeroraon Of thar
morals then exhibited from the big TO the lowest com
classes Of the community. All conAdsfas DESTROYED
every man went forth in the axsno suspicion II 49,
was diamond cut diamond. the - ,a,,,aa III