Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1861-12-13

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loeal o'i,aiaslen ~ nas Doen a.. e, 81
eu tnae sne suDs,,uion y. .,s -, W. 20
currency, upon 'nis Pan, "oa.S W tNysStsv
ican 70 sns gvs.rthssns ~, s.,. oon aS w;,bont
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eAtenss at.,Ss,,. ta1 49, -
fena AZ ;sorr,
,srd sSS rslsf 1r,r . coneldolabie burden in the
lSorm of iptereetg on debt. ID hTESse advantages
~ deehtl,as, eopsideTable: and If d scheme
80, ~ devissh nv hieh saSh cirSnIator will
"a csrtoiniv md ,strietlv confined to the real
reods N the ueopleI and kent constantly eduiya-
Iisntto speeia bv rr6mpt aud certain redemption
I'm coin.i viii hsrdlv fan of leaislative sane
tio,f,i,I 3 is1regG IS i5s Sif7o R'l9SI nlps7
4 The slas, howevef, Il not without seriouS IN
.o,sSe;e,,Ss on,, ~ zsTSs tina temnsatio1 az.
sc,silv grsot ,nss otin,sssars and DANGER
- ;ssa ithaTt q nrovisior for re.
dam non, IHa Arer ant ,iitv to he eailed
~, en- bSysnd 4 ssrs hn,vsvfr cave
fnlivpro vided md m snae "a the hazari 81 pan
ica nssei uita,se aeu,a, "a fnr tojn. conceDtrat
"a On few Soets and a lsingle fund. the rsk Of
ks denrecia atad' dnrsci aim b and anatiy worth,
tiess nansr imnpet 20 Stha t,11easnrrbie evils Of
AZ Sa,,arsd nrhl;c sa;aS and nstionhI bank rant.
es ,o",S,a N fhs
adent;os Of 4 s,s,em Of Govern n,ent circulation.
n nav be said. ana uSrh abs truly, that they are
Hes dsplorablb than these Of an hirredesmsble
bank circulation Without entering into that
comparison the Secretary contents himself with
disasters so far outwe eigh the probable benefits Of
tho plnp that he feels himself constrained. to
forbear recommending It's adoption. =,
IiaThA n sA,r, n an tad remains for oxam.
,nat;oni Its nrlIcna1 faatnrea are. Ist) cir.
cniSt;sa n Satea hearing a common imnression
A Sa,ssh hsStjcatsa AZ acommon auth oritv. I9dl
shs "a an ni;c,, nf thsss notea nv ths sssooia-
t,nns ii5stjtst,ona ~ ,vbicb tbev NAV he de
TsssS,, 9ntS;sSye. ma T3d1 tba aecnrity Of that
radsmntion bv the nledue az The United States
asosLst and AZ ladeGuate r,roviaion of specie,
In tbis plan the people, in their ordinary bust
ness. wouid find the adyantapes Of uniformity
in currency. Of auniformity m security: of ef-
fectual safee,iafd If effectuaI safeguard ia pos.
able. against 'depreciation; and of protection
from losses In diaco,ipts and exchanaea while
In The 'operations,o of the government the people
wonld fnd lhe further adyautspee Of a large
demand for, eoyerument securities, Of increased
faoili ties for, obtainipp the Ioana reouired for
the war. and some alIeviation of the burdens on
indnstry tbroneh A diminution in the rate of in
.erest, or participation in the profit of circu-
lation. without fisking the perls Of q great mon,
av nononolvL2 80 - y 'D''"''-' ..s,-I,rif.i3
a 6prthor and in,1ottant advantage to the
noon,a NAV be reaaonahIv exneoted in the in
cresaed secpYitY' az the fJnion.T Swinging from
the rommon inferest in its preservation. created
hv .be diatrihpton of ira stoclts To associations
tS,onohon, enc cnJn,rvl as me haaia of their
r;rcyis,;on
ThS s,v sntsrte,ns ina oninion that If
c,saIs c;rcnIsti5n in ,aSv form be- deairabIe. Il
= n,ns. des;rahei6 tb;s' The notes Tins issued
nd sec,,rad vsould. in his Judgment. form the
saSsss az - cn,,sncy which this oouStrv has ever en-.
;oved. While their recsivabilitv for ali govern.
M m snt dnesS except custons would make them
~ s eSa1er s nsoshIe of eouel vaIue as curren.
es lin every mart of the Union The large
smount of eoacie now In the United States.
reachipp a toiai not less thar, two hundred and
efiva millions Of dollars will eaaiIy sur,-
mort nsvnsnts rot 'an:ies IN coin whils these
psVments, and ordinary demands will,aid in re,
tainins IN aneoie m the country aa aolid ba aa
roth of circulation. and loans. r Eetlf'sl algs
The vhoIe cirenletiof, ~ the country. except
., limited amoupt Of foreign coin, would, after
.ho i.,.s ~ too M thsaa vaa rs hear the i'm
press Of the nation, whether in coin or notes;
iahile the amount of the latter, always easily
ascertainahle, and, Of course, always generally
known, would not be likely TO be increased be-
yond the real wants of business.
N He expresses an opinion in favor Of this plan
with the greater confidence. because It has the
advantage Of recommendation from experience,
L ia not au unsried theory. 10 the State of New
York and IN one or more of the other States IL
has been subjected, IN its most essential Psrtsi
to the test OF experiment, ana mas peen ioqna
practicaole ana useful lne pTopaphiaee OF
success VIII not be Diminished put increased Dy
its aoopeon under nationai sanctioh'ano iof tne
whole country. ...eatt
lt only remains to ado that the plan IS recon-
mended BY one other CONSIDERATION, WHICH, IN
the judgment OF the Secretary, is entitled to|
much influence. II avoids almost, II not Alto
gether the evils OF great ana sudden cnange
In the currency oy onering Inducements 10 SOL
vent exisung inansuslVns W wLsnaraw sle crcu
a.on iseaeu anaes u Ssa.o aIa .Sa
T... - .,'!asn sSI - ~
;st;u., inst;,r,;ass a,dsd hv y;se iersiat;on the
,sc ssnss
s.s, s.sa. :, us ,,nstS c-,a s oesi on
:. - ho snaad;I, onJ s,ros, ;r,rs,csnt;his
49, ,nri;shsd liz PSsS Hss - . ~
-, =. n. = n a .L..J .
~ tne secretaty hes Dmii.eo We ulscuHs'on On VI
Ine quesslOn OIL o. inc cols1suslOnal rs p9.sr ~ SOn
s.sss sr ~, - sstsbsh ,hs nroro
sIs,on ~ thst AZ i nowar to reouIate oommerce and
pttiVh tuns ttAo PvWsA 1850 SNAs .a-~