Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1861-12-03

8 certain. Assurance OK Z ~2urctual onrr;-7,
interest on these notes, but va might ais, j..
taxes enough 10 carry on the var, rev.ni.
either IN these notes OF else III c3:;gr. ioi,.,.,
or such articles rs were necessary for thu 49,,
at prices stipulated b. the GGycfrmsr,. "I'
small quantity OF spr,:;a then n.r,.rd ,,ptfi",
raised either b: p~nrciiase x;i1 'Tr;.smv rn,..
or the sale o. SO mich o; III. e,,.or ana -
baceo Is experience showa o.t,iu l.. .,.t .~.
despite the blockade.
The road r. saccess IS simple, sssy A..
plain. Let us bot wreck eYeryt'.;,a By rcr..'
ing experiments or by the repetition Of .--ars
whose true character hsS Already been g. ms,
stra!ed BY expsrirncc. Let III not a,,cinnt +,
play the part Of cl::0n iac'o- ;n- the pIa1,er
vino can find Other 'c27: mech better fixed
for his purpose: ';inE :1a government. Ne.
ought we to repeli H.. siTeadv exploded IS,
pertinent OF cot,t:ESgt.: mure; snd a~s:.ous:,
The issue Q: no;>S, ~ !t": IL their value r..
mains nearly ~ Specie ps", a 4 Icsiuas.o
resource. 10 ca br,ond sill b.: 10 ~!ncrsass
our liabilities, hut not GU. .nears.
II We double the amoun; al NOES 9hiss
can DC kept out at specie par, VIC Car buy n
more With the whole quantity afterwards than
we could purchase with the WIN lie amlurth..
fore; but when we barrow afterwards 70
contract doubio tho debt that We would hG;r
! contracted b"fore.
There Is no A!chcu;St's secret in The Use Of
paper; credit may De used, il! properly MAJ
aged, so rs 70 obtain not only gold BIZ. ri..:-
ever gold car. buy. Bats mast no. con
found it with god. CT so misuse i 20 to de-.
s.roy It's "alne. The whole industrial sys;sr,
| Is moved By credit. Credit. for the most 81,
is the iaitn which Industry pledges to cs,,,,,,
| It's value is real when Funded upon proi.s.
ton, and It mas, !rd6:I, move mounts!ns.-
Government credit, ION, has a real value. saer
toGaded upon ta1sIldn, which. after ST.. tests
UPON tbs production of ls1o If Gove7anrr!
| desires vi mako its credit ]cir:cm:, :: must yys
that credit not only z real. bal x csrtath y.ic-,
that it may DccDu,. = ar a4l slaofe usi!.m
of exchange.
To make this ~csrtsIn !! should 81 i<ii,i
; only to = proper extent. snd be rec2i:ei in
| puYran. O! dues 10 !t>,:i. 10 the ex.en. Of tina
demand b. ihc public deSicr, ,nis cred, !, A,
good, or :.carIy a. good. as space. |; i: slou'!
| b. received also il liz: payment o. dds Ia
States, bank, %n; other corporations, i]u5iv::-
| uals would tax. il. ana thus Z large l.aoI;;
would become current at par, or n,ariy IA! par.
with sDscic, because to a Certain exert :.
you'd y: 4 precise and cxlc: substitute 10
gold. Ha; to give still greater ~s,clr.:j
10 the holder, Government mus: NIKE
,his paper convertible either inc space :.
dSrd periods, nr else into stock paying >ucn 81:
interest as will place it at par, or acarly on t
oar vito specie. Fer Us the latter is Inc saieE
and wiser course. We make TO premise ~:;ci.
@e Garnet: perform, sad, so lorg as We kesp
our ia,.t,. ss nut CITY satisfy thS public cree.
tor, bat we give ,iis people a'currcicy whlc'.
will bear II liked proportion t. specie, aa: -
ognG or contract, not according 10 !le &c,
dcnta! lIx snd inRIx Of tho precious :n0is-
in particular placer. out with tl:r g~unrrai :: .
ana iali Ill the rats OF interest /. wi! ncl. "a
Ger t4.n ~relslion 10 specie &c &c sure, but It's re.
.a:i9ns viii he established with the atocE 81
spec:o in the world, Tor will they be dis;ura.4
~ tSs accidental AUD local demand f.r !! il,
certain PLACES. Credit after all, is onc T.; lM.
S.ca, motive powers Ct Industry, s"G, ks.
steam, musi be carefully managed. Hhrr ID:
deficiency .rsre must be means lot i,'incte- ,t
when in excess safety valves nsuSt be i.,
v,ded 10 discharge the supelfHiy. Hlca Pc
uer,y regulated, wonders are wrought by -
elastic power; but when mi-,Ii"aged ~:
abused. explosion and disaster aic tie inc9.;-.
be results. There is 10 sutjsct % icg %siarion
which requires gres:er cau. IL a"l Prudence
in treat!cs it tbsa that &! credit. And Ysi
there is no power whicn Las tteE - oi;"..
and 70 dlssslrou,ly abused by sor,r: men. ..
that 81 credit. ii wo shod!i repeat tuc;, M
takes; It will not be from iS1arancc, hui . vi
ful disregard Df the lessons Of tho past <