The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1857-11-18
Small Notes the Curse Of our Cur
reney. Should they be Taxed

Small Notes.-The Curse Of our Cur
reney. Should they be Taxed
s# cut Of Existence!
The question Of taxing small notes by
Congress has been started by the Cincin-
nati Enquirer, aud advocated by it with
great ability. Other papers throught the
United States have joined in, and they
now muster very formidable force.
That there is o denomination below
which bank notes should not be tolerated
is universally conceded. Whether that
denomination should be one dollar, ten
dollars, or twenty dollars is the question.
Every body is ready to say bank rotes Of
. less denomination than one dollar should
should be prohibited. Eow, reader, give
a reason Why notes for fifty cents Or seven
II ave cents should not be issued, and see
if.yon have not given avery good reason
WY notes foroac dollar, two dollars and
iivsdolIsrs should not be issned.. s2'. /
.His not easily to calculate the amount
q money 80 naally lost TO- the people of
The Uei.sd States in Consequences Of the
eifcslation eEsmall notes; but It is cer-
tsiply fse mcfs than any one would sup
pox& Who has not investigated the SUBJ
ieet. ~. .al6 -. gol!sI 2.
Although. as We above stated the
arnpunt canAotsbs actually estimated, yet
we .may form -sn estimate not very far
v-o,o salfsa 2 sai
III !. sHa seg i5,fsi
= Since the repeal Of the law in this
State prohibiting. the circulation Of for
eienbills under the denomination Of ten
dollars, proposals have been sent from
New England banks to persons, in this
comfy, and doutless to others throught
The State to the following effect s -
The Catamount bank vial lend to Mr..
Al FIVE or ten thou and dollars at the rate
Of three and 4 half per cent, per annum,
provided that Mr.. A. is 10 furnish good
security, and to take notes Of the denom-
ination 81 y two, three and Eve dollars,
mono q excited Eve; and provided further,
that each note received BY Mr.. A. is to
havs . particular mark placed upon it
and whenever Eve hundred dollars OF said
notes are returned to said Catanloun,
bank for redemption, Mr.. A. is 10 send
further securities and again take the sams
notss at the same rate Of interest.
The same Identical aotss are to be send
again, no matter how much they may have
suffered from wear and tear. They arc
to.be sent and re. sent until they ere total
~ worn out. Now these notes are wortl
ten per cent.per amman at home. but tht
hacks find it1more profitable to lend then
on these terms Thousand miles from
home, than to use them where they ma.
readily be presented for redemption, a
ten per cent. seiiAsia 80 s
The banks carry on similar system
wftI each other. A bank in Ohio send
batch Of its notes to bank away off il
New England, receiving u batch Of tn
latter's notes in return. BY these mean
the notes OF both are Put in circnlatio
50 'farff home that many Of Them vi
be lost or destroyed aud never be redeem
ed.a ssgs = sA4 20 sdsase' =
An estimate may thus be formed Of th
amoant lost to the people by this ls5'
switdlfHg. II pays better 70 have sn,aa
notes out at three ana halfieper cent
sAousapd miles, from home, than TO ha'
them OFT at temper cent. hundred mil,
from home. ...s s e s.
ssvsrat q The States, 70 guard again
siis imposition, prohibit the ejaculation
notes under the denomination of GYel dc
lars, nat ionly, ofiforeign bat Of doInest
banks. N But the evil will be afally rcniet
ed bnly when tie prohibition is made "
versel aps Is this hi wlIl hardly beIdope wiz
out ths.agepcy of the general goYernaeI
Rngiand, fswsrecoilect rightly, authe
ssss no,noses under the denomination
o,,3 IL x,taraf ~ II, 4 I,nrov,,o