Marshall County Democrat. (Plymouth, Ind.) 1855-1859, 1857-10-29
Let us have u Sound Currcn-

The recent crash of banks and the gem
eral rottenness which attends a paper cur
rency, and the evils which il iEtiiets upon
the prosperity of the country. are again
| attaching the people to the Democratic idea
of having gold and silver currency. 4
writer in the Boston Post saws
Gold and silver are commodities, in
whatever form they may be employed. they
will circulate with other commodities and
find their proper place. according to their
proper uses, if left to the natural laws of
trade but legislate them out Of ase, SUBJ
stitute villainous promise TO perform their
Office, and their value declines wiki the de-
cline Of use, with absolute certainty. ",
trick of tho currene no ingenuity or De.
vice of Legislation can prevent the loss Of
that decline in value to the community that
degrades them. They nil leave The scene
of their disgrace and go where iLey are
better known and appreciated, aud VII!
leave thing behind that will make tie
wrong -doers smart for it.
aver that the wretchcd policy os sub
s;ituting fictitious money for real, is co1:-
ing this nation her supremacy in the com
mercial marine of the world. Il is 4 mai.
ter OF record hat the tonnage Of the Uni
ted States emplC, ed in commerce has ex-
ceeded tha! of any other na;ion, but If We
continue to expel our real money-gold--
as fast as it touches New York, furnishing
freight, occupying very limited space. TO
few steamers--mostly British--in tho
precious metal, to the value of $50. .000, 900
annually, instead Of 500 cargoes Of bulky
products to the same amount, required by
the real wants of mankind. how long will
that supremacy be maintained?
But, answers the objec!or, tia! is sound
doctriue. but how do you propose to pre-
vent this excess of specie from the country
We do not believe that any other practical
and legitimate method can be devised than
by creating an additional demand for It at
home by preventing the issue Of all bank
notes of small denominations, and thus rem
dcring it necessary that small gold coins
should pass into general use.
This is the true and only remedy Our
gold goes abroad because other nations,
which do not issue small notes, require it
for their ordinary circulating medium, and
are eager 10 minister to our extravaganza Ia
obtain the precious metals. We make no
serious efforts to obtain metalic CURRENCY
for our small business transactions. We are
satisfied with bank notes. We are still Mi.
ling to run the gauntlet of fcounterfening dc
faulting and bank breaking dangers. We
authorize our legislators to bestow banking
privileges to an immense number of corpo-
rations, and to allow them TO issue notes Of
small denominations of SIS, and even s.
and 81. The worst currency always attaine
the most circulation.
In the presence of small notes gold van
ishes, or is left TO accumulate iE the hands
Of brokers and bankers, ready TO aDswer
the call of any merchants who desire to
obtain it. in large quantities, for foreign
goods. Reverse this system, and marked
and speedy change would soon OCCUR
Drive out small notes from circulation. and
when California steamer arrives, huud-
red channels in our own country wouLl
eagerly seek its golden freight 10 ill the
vacuum; and this counter demand. without
serious Inconvenience or detrimcnt 10 the
general business of the country, keep cur
gold at home, at least till all our legilima.e
wants are supplied. and our circulating me-
dunn placed upon firm and substantial
basis.