Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1861-10-21

40 "a TO prosot aganst any etsaMpt onho part OF Tue
Rank of EnR.rd 10 ooeroc undue export OF our spe
FOR az ,he use OF our produce 10 wish the people OF
England necessity and the use OF their manufactures
1. 10 US convenience il Ia apparent that, having pa
per currency sufficient TO supply our domestic e1chapge
and move the body Of exports we could by our eI'
ports 90 regulate our foreign exchange 70 give
money market undistulbsd by continual Huctuations-
tta, desderatum long sought for by the political
economists and Statesmen of England.
As the purpose Of giving to Congress the power to
coin money and regulate s value In inhhtne the states
from making an thing but gold and silver coin tender
In payment OF debts vas 70 give certain aud stable
yaue 10 credit and prop ,riyt would seem that II s no
less the duty Of government TO counterac as lar as
practicable all other causes, which may tend to depre
case or render uncertain the values OF credit and prop
erty which IL was the purpose Of the constitution 10
protect, II was 10 conformity with this principle that
the great Lsygiver said to Moses,
"If thou lend money to any Of my people that poor
by thee thou shall not be to him @ an usurer neither
shalt thou lay upon him usury."
aye shall do no unrghteousness 10 Judgment In mete-
yard in weight or ia measure"
"Just balances just weights, Just ephah and just
him shall We have. i am the Lord, your God, which
brought you out Of the land OF Egypt
lii because money is the measure Of values, as the
ia the Of CLOTH that the laws oil most
cyz I'd nations forbid its being made commodity TO be
purchased ard sold other commodities are For as the
legitimate use OF money is TO measure the values OF com
modsP which ara purchased and cold in the market the
effect of fluctuations In the value OF money Is the same
A the effect of fluctuations In the standard Of weights and
measures Thus, II we're to contract TO denver 70
one hundred bushels Of wheat one thousand pounds
of beef, on given day, and the bushel measure or
pound we're to be changed as to require A. TO deliver
greater lees quantity OF wheat or OF Deer al men
would say that such change in the measure or Wegnt
would be urust Surely one will deny that, ss the
Constitution has given to Congress power "to fl stand
ard of weights and measures Government should dis-
charge that duty 70 prevent as far as praencaoe
any such change In the weights and measues USED IN he
operations of trade All men agree in Ills; because
change In the weights aud measures would come nome
q the every days experience Of all, and the eject
would be 80 palplble that all would CO denim 1t. IL,
AZ We argue the frequent recurring expansions ano
oontractons Of the currency OF England and OF loe
lied Stats are the result OF the measures adopha
by the INK Of England obtain supply OF bullion, which
hy act Of Parliament regulates the Issues Of that Dank
aud the effect of such expansions and conuactions
of the currency be TO Increase or 70 lessen the vanes OF
credit and Of property 1t 10 apparent thst sucn pan
sops and conractions are IN en- C; The same, anu VII.
Sork the same Injustice between nan and man Is u
Goyarnnent were 10 permit the Sis and weight OF
WEIGHTS and 10 be increased or dininisneo
II not obvious that the dlty imposed by both these
gratis of power Is the and that Is as mucn 'he
duty of Government 20 FIX, "a far as practcaoe aud
ard value OF money, it il TO hr standard Oh
weights and measursss We admit that one is more di
fcu than the other because the value OF money depends
on the regulation Of foreign as well az oil our domesuc
trade and our weL and moasrEes may De restricted 70
our domestic use But this difference 10 the OF
these two granted powers does not release the govern
msnt from the obligation 10 make the appropriate pfo'
ons for each Therefore the rulne oil our goid ana
silver con the continual hlcuatohs result
ing from the expansions and contractons OF toe Bank
OF England, it be p1ssble 70 DO It, Is NOT tne auy
of our Copptess und.r tic clause which gives them
power TO regulate the values OF monsy to GIVE US cur
,enny having all the reQui s for our own USE OF gold
aud silver aud which, whilst it will enable us to send In
u the foreign market e surplus products as wen as
od or silver could do will ot be sui ect 10 the action
az the Bank of England and will therefore be free from
sie 90 tinuAi expansions and contracdons and conse
aus nt auctuations in yAise OF gold or silver
Whatever else may be said OF the government ano
people Of Eagland, none can question tae comparative
extent Of their oomFce or t1eF Seaite eno resources
AZ nation The density OF Der population and the ne
cessites of her require general distribution
of labor and IL ia imp ortant fact that whilst the
use OF her machinery, she Is enabled TO give sncn en-
Doymeut 70 her labor, as to create her immense re-
sources she Is deysnet on the Confederate states ior
Inc chief supply OF the raw u-s1T:cl which CONSTITUTES
the bass of so large art OF her Industry anu topery
that IL may well be said that We are one Oh the man
pillars Of her strength and il Aience England Is there
fore dep ndent on US for tbs snenance OF he9 wealth
aad prosperity. IL Is her policy tis'aSh ner eommeree
10 create balance against other nations TO be PAID at the
pleasure OF the Bank o. nsl md in specie abe thus
regulates the exchanges IN fays Of London Yet as
she dependent M the Conf rate states Tor - ge
A supply Of the raw material, 1t Is o6Vons tiat these
States may create for themselves domestic currency,
which can place exports In our se.petS aDa Pur
chase whatever we may want of British merchandise,
aud il be desire it, create balance to be PAID 70 us
ia specie Ybgs se nay, through our eIports use the
Bank of England ltsf to ekiaS the exchanges oil the
world in our favor. We nee9 not repss ghAt rs Lave
already said 10 prove that tie proposed Treasury notes
will give rs sich currency as We have defcrhed
In further illustration Of the value Of money We give
tabs showing tho minimum rates Of interest charged