M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1858-01-07


and recognizing the sovereignty OF
man. A Government that affords
equal and exact Justice to all, exclu-
siye privileges to none. A Govern.
ment Of the people, and for the peo-
protecting them in the exercise
of the largest liberty, consistent with
right and order, leaving them free to
work ont their own good IN their own
way and at their own time. Let us
adhere to principle, losing sight ofmen
lust in proportion as they deyiatc from
the established maxims Of the party.
I-MiSSiSSiPpian. -
WaShinStOn's opinion Of Paper
Money, Contained in a letter TO
Il. Stone, Member of the Senate
OfNIarylnnd.
The following letter, written by one
of the earliest "oll line Democra ts,"
General Washington, more than sev'
enty years ago on the paper currency
question, will be read just now with
more than ordinary interest. II Wash
ington lived now, and had written
this letter only yesterday, the Black
! Republican bankers would be denoun-
cling him as a crazy destructive, and a
foolish visionary. His letter should
be read studied and reflected OF by eve
ry man and boy in the Union:
MOUNT VERNON, Feb. 81, 1881.
DEAR SIR:-Your favor ofth 3Oth
ult came only to hand. To give an
opinion in q cause of so much impor-
tance as that which has warmly agi.
tated the two branches of your Legis.
lature. and which, from the appeal
that's made, is likely to create great
and perhaps dangerous divisions, is
rather a delicate matter; but at this di.
versity Of opinion is on a subjec which
has, | believe, occupied the minds oI
most of men, and as my sentiments
thereon have been fully and decidedly
expressed long before the Assembly
either of Maryland or this State was
convened, do not scruple to declare
that if had a voice in your Legisla'
ture, it would have been given decid,
edly against q paper emission, upon
the general principle of its utility as a
representative and the necessity of il
as a medinm. To assign reasons fol
| this opinion would be as q unnecessa'
ry as tedious; the ground has been SC
often trod that a place hardly remains
untouched; in a word; the necessity
arising from the want Of specie is rep
resented as greater than it really is
contend that is by the substance moi
the shadow OF a thing that we are tc
be benefited. The wisdom of man, ir
my humble opinion, cannot, at this time
devise plan by'which the credit ofpa
per money would lie long supported
consequently depreciation keeps pace
with the quantity of emission, and ar
ticles 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 artisan
benofttod9 The debto may be, be.
cause, as l have observed, he gives
the shadow in lieu of the substance
and in proportion to his gain the
creditor, or body polite suffer-
Whether it be a legal tender or not
it will, as has been observed very tru-
ly, leave no alternative-it may be
that or nothing. An evil equally
great is the door it Immediately opens
for speculation, by which the least de.
signing and perhaps most valuable
part Of the community axe preyed up
on by the more knowing Ind crafty
spectators. But contrary tony in.
tention and declaration, | am offering
reasons in support Of my opinion.
reasons, too, which, Of all others, arr
least pleasing to the advocates for pa
per-money. l shall therefore .onl,
observe generally, that so many peo
pie have suffered by former emissions
that like a burnt child who breads fire
no person will touch it: the natural
consequence of which that the speci
which remains unsupported will be, in
stantly locked up.
With great esteem and regard, ! am
dear sir, &C., &C.,
| GEO. w WAsHINGToN.