The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-02-19
A METALLIC CURRENCY.

A METALLIC CURRENCY.
A friend writing to us upon the subject Of
a metallic currency, says: at would seem
that serious effort is to be made to establish
a metallic currency in the District Of Colum-
ba, by driving out of circulation all bank
notes of smaller denomination than fifty
dollars. Such at least, is the substance Of
bill now before the Senate, and unanimously
reported by select committee. II success
ful in becoming law, Congress will be COM
mitted to the policy of n hard money curren.
cy for the whole country; for the principle
involved cannot be limited to the Maryland
part of the ten miles square, which is all that
remains subject to Federal legislation.
The impotcncy of legislating in advance of
public sentiment on this subject is fully illus
trated, by the fact, that Congress has forbid
den any one offering to pass bank bill of
less denomination than five dollars, in the
District, for the last eight or ten years, and
added the restraint Of n pretty heavy fine; the
half to 60 to the informer; while the people
of the District pay the least possible regard
to this uncalled for government interference
with the business of buying and selling bank
notes. Neither Maryland nor Virginia banks
issue small bank bills, but such bills form a
large part of the circulating medium of the
seven millions of trading and travelling in.
habtants Of New York and New England,
and are no less common in Georgia, South
Carolina and other southern States. The
keepers of hotels and boarding houses in
Washington, often find it necessary to take
small bills; and those at par, or nearly SO, in
New York and Boston, are sough. after rath.
er than avoided, by all merchants having pay
ments to make in those cities. If n Yankee
shoe-dealer in Washington, is willing to sell
n pair Of shoes for New England or New
York bank note OF less denomination than
five dollars, what power has Congress to pre-.
vent him? Why has not II merchant of
Georgetown as much right to sell his goods
for notes of one dollar each, as for notes of
fifty dollars, or for tobacco, or coon-skns?
TO destroy all proper respect for the au-
thority of law, Legislators have only TO con-
tinue their present practice of multiplying en-.
actments, uncaled for by public sentiment
till they become as numerous and disgusting
as were the frogs of Egypt. Over legislation
is the ruling passion with race of quack
politicians, who claim the skill to cure all the
ills Of the body polite, and ull the errors o
social life, by the panaces of a statute. Ar
exclusive metallic currency is at best I'M un
tried experiment in this country, whose onl,
claim to consideration is the bare possibit,
of its suitIng, ultimately, the habits, wnnt
and interests of the people of this young ant
growing republic. Both men and women
who have too much confidence in the future
run into debt beyond their means of payment
and the question is whether the exclusion
from circulation of all bank notes under ift,
dollars will make them any wiser than the,
now are! The disease is defect of iudG
mcnt in the popular understanding; while tn
. remedy is applied, not to the parties affected
but to other parties who happen to live in thu
same country, and must therefore take physi
for the public good If Senators in Congress
: and State legislators really aim to make thu
I, people wiser than they are in all matters o
business and credit, let them avoid all useles
prohibitions, and make ample provision fo
the proper education of the masses, so tha
the-latler may be able TO manage their pryat
3 affairs successfully, and teach their pubi
, servants ut Washington and elsewhere, th
supreme folly of enac.ng laws which tn
good sense of the public refused to enforce
Laws are bad propngandlsts, and should new
3 er be used to alter the opinions of men,
5 Such Legislation does infinite mischief b,
. bringing all laws, and those who administe
them, into contempt. They ought to embod
the matured judgment of those who are t,
uphold them, and live under them, or the
+, will either be set at naught and trampled un
der foot, or cause civil dlscord. Sound mora
principles developed by proper home culture
must govern free people more than legisla
tive enactments. II the press of the Unite,
States can so enlighten The public rs to in
duce the general adoption of the President
suggestion, not to use any bank bills unde
, twenty dollars. great point will be gained il
, favor of gold and silver money for the miIliol
in their every day transactions. This is
+ hHPpy mean between extreme opinions; an
1t Congress is wise, it will not attempt to O
{. beyond it, and thus fail to accomplish any
5 thing but reaction in favor of small banI
notes. Overtrading is an evil of fearful mag
nitude, to which banks stand in the relation
of an effect rather than cause. Industrious
enterprisng, hopefui and ambitious Youn!
/ America feels the want Of every means o
credit that the ingenuity of man affords. T.,
supply this want in part banks of discoun
are called into existence; and they are just a
good and just MS necessary as other insttu
! tons for the promotion of production, labor
trade and commerce. e."-Augusta Conslit,t
ti0naliSt.
The NATIONAL HOTEL DIsEAsE.-Th
causes of the malady at the National Hotc
at Washington, says an exchange, were full
revealed when the new occupants undertool
the operation of cleansing. They found il
, the enormous cellar decaying and poisonou
, matter enough of all sorts to have killed al
army Of men, If subject TO its cxhalaiion.-
There were removed from this part Of tn