Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-05-29

ne people OF ILLINOIS Will. OF course, Ieci
deeply the loss of their deprecated currency.
We have already lost millions by the banks. We
are now losing millions more, and will very
shortly suffer occasional loss. We have not yet
reached the bottom, and viii not until we have
abandoned every dollar of otir currency. Banks
are made to swindle us while prosperous and ruin
us while in adversely The banks whose circu
laticn is at all based on the stocks of Southern
States have become so thoroughly discredited in
public opinion, that they must and will pass out
Of circulation now; the fate of those based upon
be delayed little longer; but it must come soon
if the present troubles continue. No State stocks
can stand the pressure of this civil war for any
length of time. They must and will greatly de-
preciate. 1t will require no lack of confidence in
the stability of our government, and no want of
faith in the ability of our States 10 pay their
debts to secure this result. 1t matters not what
confidence the public may have in the honesty or
solvency of our States-still their bonds must 60
down to a considerable extent. What the public
now want is money, not State stocks. Money
will be in high demand, while the market will be
literally glvtted with stocks. There will be not
less perhaps than hundred millions of stocks
thrown on the market in the next twelve months.
There will be more stocks than people desire to
buy. This must bring down their price. The
laws Of supply and demand must operate in this
ao Ia ali otAcE iuonCl uC Ecouit Will
be, that in the end our entire currency will de-
preciate to point that viii render it almost
less. This event would be looked to by our peo-
pie with great reluctance; but il must come, and
when it does come, we shall have for the first
time reached point of safety. The sooner it
comes, the better. There never can be healthy
and safe state Of business, until we at once
and forever done with shinpIasters and painted
swindes.
But what is to be done for currency2 Import
Canadian or Eastern shinplasters to cover up our
nakedness? This would be simply a change of
rrssters-a jumping from the frying pan into the
fire. If this is to be the result, we have lost th1
whole Of our money without even that compen-
lsation which foolsA>e-efperience. It really
seems an impossible and hopeless task to con-
vince people of the plainest problem on earth,
to-wit: If they will refuse to take anything but
specie and exchange, they must and will get it;
and as long as they consent to take bad money,
not one dollar of good money will 60 into circu-
ing mediumf We answer yes, .unquestiona5ly.
We have never tried it. We are afraid to make
the experiment. The banking interest has so
long deluded us with its sophistries, and made
us drunk with its gassy infat;ons, that we seem
to doubt the plainest reasoning But where
is the gold and silver is it not as scarce as
hens teethf" Yes, certainly; and it always will
4 De- as lOnS As we take snlnDlaSterS anu make
merchandise of it. Gold can not circulate in the
presence Of bad money. 1t must and will be
boarded as something too precious to see daylight
But once let it be understood that nothing will
pass but specie and exchange, and that when a
man parts with his gold on the one hand, he will
receive it back OH the other, and the gold of the
world will at once flow into circulation, and
theEceforth trade will flow on in healthy, definite
and certain channels. No man will fail in bus
ness unless by extraordinary misfortunes OIL
shameless neglect or crime. ESQ
Now Is the time for our people to redeem them
selves from the wasting expenditure of the bank
ing system, the terrible periodical losses which i
necessarily entails, and the ruinous exchanges
which must ever flow from it. In ordinary time
it is impossible to do this, as the immediate los
by the destruction of the existing currency deter
even the boldest from the attempt. 1t is not 81
now. We have already sustained moro than one
half the loss. and will soon be compelled to sustain
that of the rest. We shall have free choice onc
more in spite Of ourselves. We shall be enable,
freely to determine whether we will hencefortl
demand for onr labor and the necessaries of life
gold or eastern exchange, and have the real am
substantial worth of our toll; or whether we will
again go over the old round of the tread mill lik
blind horse, giving millionaire fortunes to hos
of bankers, who fstten off us i'm prosperity an
desert and ruin US in adversely. If the bushes
men of Illinois know what their true interest is
they win not hesitate in their choice.-Chicag
r Times.