Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1857-12-30
Fu- h= zmaHane-l

- - ---4=IAE-
Esesz E95tg<-Es d 1ot xzsa . ra r1o
z controversy EIIh 4sF che. BIZ 5e5Ee1h1- 1hs
sLehscg= q 0P-1ina -=zT BE- osnz5=sl bz-gfo-s
" k1TE sLprzss=5 or E5sEs 4 respsrt 70 on
present ETszso r bzzk2z- OR rsod
agrees EIl = Is- ~ F-essat sJstsm : 1oz A.
togstoer right o1t SAYS that EoTE-uueat uzo-
Eo1ld Be chszp- fr ths oo9nty than peGs
fo- hs Ezrs individual losss Evuld IN oaz -e
D National gzInz KsS1ppoSe Be ! n faTgr u
i Sstocal BaHk, that obsolete ideA7 Wei.
Ts are not prepared 70 EE0s an insutatiOa Eiuz
the capitaIlt World require II might Be dan
gsn0us 70 our Republican Insiradors although,
u j could oe ms1s u IL safe ~ ali times 70 tie
note holders, ard g2arded Eith restrictions 4
might be preferable % O1r present. system
Bot, "S. A. appears IN think that the govern
8sAt bank might not AZ al TINES Tedeem their
notes, for be says that the Bank Of Kagiznd
d. not pay their notes D01- In respect ~ Ma
tIDnai gains. somebody must lose, and If the IA
ton Or banker gains, the peoplelo ze- Il Is esli-
mated that the people Of this country have lost
four hundred and two millions Of doliarz, IN the
last half century. BY paper money. 1t seems
that Sir. 'b- A. u arguing the chcapness to
the government or banker, while my argument
was the cost Or loss 70 the people. We all admit
that paper money Is cheaper, that IS not Of 80
much value, for 1t reluces one dollar 70 81 cents,
therefore, the specie, which j. worth more. is ex-
PEELED from circulation, and ofcourze it goes where
1t Is worth It's value. v 4. says that $g7, Doc is
. 1ILuf amply HILllEleIL 10 keep 800, UyD,Jgy in
circulation and renew it from time to time, as it
wears out. But the question with me Is, will Il
pay the losses of the people occasioned by pa
per money, which are estimated at 10000, 600
peg annum- We consider individual losses, in
a degree a loss 10 the country. He says that we
are in favor OF \ metallic currency alone. We
are IN favor Of a circulating medium, as we have
said before, that would be safe ard reliable. At
all times and under all circumstances. (but past
history and present times proves that the pres
ent system IS not In which the people can have
confidence, 50, that If a poor man Law uu his.
weeks earnings on Saturday night, it viii not be
worthless on Monday morning. We should have
a currency that would not be 50 injurious to the
travelling community, guch ruinous discount in
exchanging, but which would be good in every
part Of our cnuntry, that is, worth rs much as
the specie. But they tell US that they win not
go into banking unless they can make money.
Then, we say, If you will not bank without rob
bling the people, as you have done, We can do
without you. 1t is estimated that there is near
y two hundred and ninety millions Of dollars
in specie in the United States, Of this the banks
have 6O,OO0,0 00, and the people the balance,
about S2@O,O00,0OO. If the SI97, 900, 600, Of
bank bills were all, as millions Of dollars of pa-
per have been, turned into blotting paper, would
not the millions Of hard currency now hoard
ed by individually, or buried In bank vaults
be let loose and put into circulation, much
TO the satisfaction Of the people. We be-
iieve that the banks are she bane of our
steady prosperity, that they furnish the Illusions
by which men rush to speculation, and initiate
Utmost every species Of property to a figure
which every revision exposes and r-inees.
The adoption Of specie or paper moi. y on a
Ispccie basis, as the only money Of the r,untry
is not likely to be sudden. bur we believy IL will
be inaugurated by the reduction OF the lumber
Of banks, followed by the disuse Of small notes.
and MS the small notes go out of market, coin
viii always be found TO supply the wants of the
people. In time, the mistaken policy Of giving
to n privileged few, the monopoly Of manufac-
turing n currency will be also redeemed. Al
though there may be a slight depreciation in the
value Of articles, the value will be reliable, stea.
dy, and for business men far more stable and
permanent, then the ftfIl rise and fall of proper
ty, now occasioned by the expaurious and spas
modie contractions of paper money. Cheap
paper money viii not then be known. We be-
ieye that the losses from this rotten bank sys-
TEN have been greater to the people, than from
all other sources What v. 4. tneans by shin
plastsrS at the time Of Gen. Washingtonfs re-
communication of an increase Of specie, we know
not We thought that shin p~lasters were pa
per issued without 4 charter. WnShingtnn'g re-
commentator was made TO Mr.. Stone, 4 Mary
land State Senator, concerning a bin for the
charter Of a bank, that was then pending before
the Legislature of Maryland.
O. Yours, very tTuely, VI. WnsoS.
CoaX Ror IN 1LLlNos.-A correspondent Of
the Chicago Tribune, writing from ChamuaiSn