The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-10-28
Washiugton's Opinion on the Currency
Question.

The following letter, written by General
Washington, upon The currency question, in
answer 10 communication from Colonel T.
Stone, a member Of the Senate OF Maryland,
is remarkable as setting forth precisely the
same views and opinions as those for which
the Democratic party Is conlending at this
time. The date of the letter is the eth OF
February, 1887. AT this early day The COM
prehensive mind of the Father of his Conn.
try saw the evils flowing from curreucy
as representative or medium. This let.
ter should be read, studied and reflected on
by every man in this country.
MOUNT YEREoN, Feb. 81, 1887.
DEAR SIR-Your favor OF the 3oih ull came
duly 10 hand To give an opinion in case
of so much importance as that which has
warmly agitaied the two branches OF your
Legislature, and which; from the appeal that
is made, is likely TO create great and perhaps
dangerous divisions, is rather a delicate mat
Ter; but as this diversity of opinion is on a
subject which has, believe, occupied The
minds of most men, and as my sentiments
thereon have been fully and decidedly ex-
pressed long before the Assembly either of
Marylan or this State was convened, do
not scruple 10 declare that, if had a voice
in your Legislature, it would have been Civ.
an deeidedi; against parer eUissioo, upon
the general principle of its utility as rep.
resenta,ive and the necessity Of it as me.
dum. To assign reasons for this opinion
would be as unnecessary as tedious; the
ground has been so often lrod that a place
hardly remains untouched; in word, the
necessity arising from want of specie is
represented as greater than it really is.
contend that ii 10 by the substance no, the
shadow of thing that we are 10 be bene.
iued. The wisdom of man, in my humble
opinion, cannot, at this time, devise plan
by which the credit OF paper money would
be long supported, consequently depreciation
keeps pace with The quantity Of emission,
and articles for which it IS exchanged rise in
a greater ratio than the sinking value Of the
money. Wherein then, is the farmer, the
planter, and the artzaa benefiued2 The
debtor may be, because, as have observed,
he gives the shadow in lieu OF the substance,
aud in proportion 10 his gain the creditor, or
body polite suffer. Whether il be q legal
tender or ro., 1t will, as has beer observed
very truly, have no alternalive-t must be
that or nolb,ng. An evil equally great is the
door it Immediately opens for speculation, by
which the least designing and perhaps most
valuable part of The community are preyed
upon by the more knowing end crafty spec
ulators. But contrary 10 my intention and
decaration, am offering reasons in support
of my opinion-reasons, too, which of all
others, are least pleasing to the advocates
for paper money | shall -ihatafare only OBJ
serve generally, that SO many people have
suffered by iormer emissions, that, like a
burnt child who breads the fire, no person
will touch il who can possibly avoid it the
natural consequence of which will be, that
the specie which remains unsupported will be
instantly locked up.
With great esteem and regard, am, dear
sir, &c, g.,
. GEO. WASHINGTON.