, 1861-05-14
STUMP TAIL CURRENCY.
EdItara Chicago Trfhilue:7 : ! :.

Editors Chicago Trfhnne:' r. :
Quite number OF communities tions have recent
1yappeared In your commercial columns In relation
to our Illinois currency. None OF them strike the
nail square on the head. Those gentlemen who
have been prescribing for the cure at this rotten
currency, do not seem tu understand the diagnosis
Of the disease. The complaint can not be cured
with emo1teuta, dptates OF chloroform. Nothing /
but sazp9y will relieve the public Of this ulcer,
which fs growing worse every day. There IL no
cur6; bat the knife and axe. Knock the :twild
CATS the haad and taka of the hide and try out
the tallow. -~. .. =. ~- w..
The present ruinous rates Of exchange will not
improve, but will grow worse daily until the
;. stump tail !" IL banished from circulation Mr..
c. O. wicker may exhors the public to VI lend gen
*esous conRdanee Z this trash bankers antthefr
depositors may enter Into engagements 70 receive
and pay 1t 'out; editors nfsy predict that "st-
change VII decline when produce teaehes the exist
ern laarkef''-6ut all in vain. They might al we'll
sing psalms to dead horse. -
Confidence rests on 4hAbelief thst thing ie safe.
sound and reliable; that il u fact. How can the
pnbHceonade in what they hoee to-be unsound
and unreliable9 No man believes lie, kno1piny
II to Be sxeA. No man can persuade or coerce his
Judgment to eonfde In what IL knows to BE- false.
How can NAN With faith enough to remove noun
+ tatns, give7a generous eonhdenoe to = notorious
untruthf = 80 -.-...>:~~
The standard Of values is gold and silver. Paper
un'ess ii can be: converted into specie. Iftha
public believe that bank bills eau be exchanged for
Gd as q wsnta tss,1 ss fesGn q Il esy
,ceive It In exchange for debts and property- Bnt
the public believe no auch thing okthe stump tail.
II S7nkss kx7+ tTf<
etosts pssdgsd !or - redemption t1ku taa Jor:-
ssssy 1 atahs
.:sEa1neEtaAn hseoanes utterly worthless. ten
dG5 ~ s a Ell ss tes e,es
c-dct ststes:of States Which ha.s adopted
sos; s stsr Nortssfn sean
States and Federal Stocks, Is horded by the banks
snd brokers J. Is very aidaealt to gst then, t9
the currency In circulation In this city Ia secured
by the etocks Of states, all Of whom, eave Ken
tuca9 4nd Missouri. have seee{ed, and are now
tempt to overthrow the Ameffe1n Government.
The insurgents hare TepaiiAted their individual
debts, aud those States hzve practically dome tho
tion, l. based on Tennessae Stocks. The legiala-
Sss g & as4 e. ~: sy Sp
Of the North and the American Government. How
mueh Are bznE notes faAang On the Stpeks OF that
State worthf- VIII Tennessee Ssocks sell fof a.
cents o. the dollar. in three. uaontha from newS
| WiN Virg1niat. North Carolina santA Carolins,
Lo1fsfans: or 4eorg1as be worth any more, Of as
much, 90 the nrst day of AasHst next Yet some
persons predict tass exehanga will 60 d1wn,
shSE %ast /, exchange, III Kold pl.eea On deposit
| tn Nov York, subject 10 light draft. 4 msn who.
~ e 8 Sc SssatiRs ssEl:s d. r
posit Ii Now 1ork bank. &c. can telegraph to
the bank ID send II to hun md tnkide Of two days
he e4n have his coin In hls hands ss cost OF ona
9aastst sE5 esn. -rsi0g ths expEsss sas1Ess sor
Nov, suppose live t5:n6o IT ssoesaidn" cur
apdggu shzYa4 0Qa nkgoh an drpostt In =
New yofk naak; supPose, farther, that owe b
New York or New England meEehAAt. $1,000, 10 be
81 e ts e 5oS anahsay: ha
York coin, What boot % Fou etkf'
You answer 20 per tenf.. which means that nv
1enfraneyt4 only worth 50 cauts op fha 1olfer aId
ronseslues1tty axehanse ~ a0spdF ltant: Bat the
worth t1aE n1ae, ,on thdhSeraRe, 30 to 90 cIuts.
Hence, exehnnRe ahnuA b IS to 10 per Conf. In
etasd Of 18 to %. Tho -di!3arancs il mnda m b.
$.tR1nsFole confidence. :. szH&1Y hy4bar1f5np n ia
knlh becomes public Nov, Wfiat Il I'D S1a al
4 txtlna bo4o h3stn@s ps1a<4EzaEt OF tA1a sh5rsa
-tsrl. Why ~ to hold the aat up bJ tn ta1 any
&ssI s5a sset = 4 ess: 81 !; .tsas I'd
t stot&ybe dr1ven into The a&aasadtt1A Hsk4t ohce3
4 ItHNtt soan come tQ this reeplt md tdaHutekef
Ire nVfav Il over ths better f6S thS Whalo noamu-
fnftF. Tfle 1aG1 viii fef!1n &serT body IN proper
ftoa to What they hsTenf it On band The Illinois
fcuPrencY fh&k will remain Alter the eecoaaon stag
! 4 bspiaAnd, Will than en1ss forth from it, hiding
!: places, ahd exchange Will nj snes ahh - anes Two