The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-10-14
From the Pennsytxanian.
Washirgton's Opinion en7the Currcn.
CIV Question. ZTAnT

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The following'ldtterj writtenbyGen
Washington, uponthe currency question,
in answer to a communication from Col.
I. Stone, a member of the Senate oil
Maryland, is remarkable as setting forth
precisely the same views and opinions a s
those for which the Democratic party is
~contending at this time. The date OF
the letter is he 9th February, 1887.
at this early day the comprehensive
mind of the Father of his Country saw
the evils flowing from a currency which
is dangerous when considered either as
a representative or a medium. This
letter should be read, studied and re-
fected on by every man in this country.
MOUNT VERNON, Feb. 27, 1857.
DEAR SIR Your favor of 3Oth ult.
came duly to hand. To give an opinion
in a case of SO much Importance as that
which has warmly agitated the two
branches of your Legislature, and which,
from the appeal that is made, is likely
to create great and perhaps dangerous d.
visions, is rather a delicate matter; but as
this diversity Of opinion Is on a subject
which has, l believe, occupied the minds
of most men, and as my sentiments
thereon have been fully and decidedly
expressed long before the Assembly
either of Maryland or this State was
convened, l do not scruplo to declare
that, if l had q voice In YOU Legis!a-
ture, it would have been given decidedly
against a paper emission, upon the gen
eral principle of its utility as a repre-
sentative AID the necessity of it as a
medium. To assign reasons for this
opinion would be as unnecessary as
tedious; the ground has been so often
trod that a place hardly remains IN
touched; in a word, the necessity arising
from a a Of specie is represented a.:
greater than it really is. L contend that
it is by the substance not the shadow
Of a thing that we are to be benefited.
The wisdom Of man, in my humble
opinion, cannot, at this time, devise a
plan by which the credit of paper mo-
ney would be long supported, CO Sc
quently depreciation keeps pace with the
quantity Of emission, and articles for
VII ch it is exchanged rise in a gre tier
ratio than the sinking value Of the mo-
ney. Wherein then, is the farmer, the
planter, aud the artisan beuef5tcd?-
The debtor may be, because. as 1 have
observed, he gives the shallow in lieu of
he substance, and in proportion to his
gain the creditor, or body polite sufer.
Whether it be a legal tender or not, it
will, as has been observed very truly,
IeaveLo altcrnative-it must be that or
nothing. An evil equally great is the
door it immediately opens for sPccula-
lion, Ly which the least designs & aud
perhaPs most valuable part of The com
iaunlty are Preyed upon by the more
knowing and crafty SPECTATORS. but
contrary to my intention andzdeclara
ton, | am Offering reasons in.suppnrt Of
my opiuion--rcasonS, too, which, CT all
Others, are least pleasing 10 the advo-
ates for paper money. L shall there
fore only observe generally, chat SO many
PEOPLE have suffered BY former emissions,
that, like a burnt child who breads the
fire, 10 person will touch it who can
Iossib'y avoid it the natural couse-
q]nences of which will be, that the specie
which remains uDexIorted will be in
staht!y locked up.
With great esteem and regard, l am,
dear sir, &c. sc,
GEO. WASHINGTON.