Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1862-06-25


NEW ISSUE OF DEMAND NOTEs.-The govern
ment is about TO make new issue of demand
notes OF small denominations, amounting in
the aggregate to one hundred and fifty millions
OF dollars. Some objection has been made 10
this currency, but experience has proved that
1t is the best and the safest for the community
Heretofore brokers made fortunes by the de-
precia'ion OF the small notes of the different
States. So great was the discount that some
wild cat currency was deprecia even ten
per cent. The discount came of course ont
of the pockets of the people, and the money
dealers were made rich at their EXPENSE
Sometimes the banks issuing bills were bro
ken, and the notes became worthless. In this
way the losses of the people were consider
able.
The new currency of the general govern
rent remedies all these evils. II is safe and
sound. II is as good gold everywhere.
Such is the appreciation in which it is held at
the South that as soon our armies take pos
session of rebel city there is great anxiety
to invest in these demand notes. and TO get
rid Of the Confederate shinplasters as soon as
possible. why is il that federal paper holds
so high ranki 1t is because Of The basis on
which it rests the strength and stability of
the g0vtthtieht, its good faith 10 the creditor.
and its ability to pay. The value Of spie de-
tiahd notes Is futther ehhahted by the patfi-
Utistn Of the peoples who. hhdet 10 efetiii-
stances, will deptetiate them for that would
be ohly destroying tlieif own public etedit,abd
The loss would have to fall ultimately Upon
themselves
All that is needed to perfect the security Of
these tUtes. and 10 make AssiifaHep detbig
sure, Is 10 pass The Tak bill. ahd that IL BeW
~ such 4 stage that few daFs viii suffice ftf
rs linal passage. bF the agreement 6f tho son.
ate ana House Of Representatives 6B the
points 0h which thBF differ II will be iBiWas
daialY signed w. The President, as a matter
Of course tf lhs bill aud the tariff an in
come viii DO secured " over I've hundred
millions Bef anHHmi According a. The ealeu.
laighs Of MI Chase The average af tho inter-
esl paid on The government bonds, 10 ianr aud
ihfeHsgnarlers per cent bat lot us put h AZ
five per cent, and Wa would thus have, Ly the
results ni Tho faR bill aud the tariff, tho Ways |
and means gi not only paying the interest on
tho war debt, bat gf creating sinking fund ia |
pay The principals payment which will be SO |
rarely demanded that u Is merely nominal |
Even should the expenditures finally foot up |
four Thousand millions, which is far higher |
figure Than they can ever reach the estimated |
products Of the Tax bill and the tariff would be |
ample for the payment OF the interest, Thus |
from the vast resources Of The country, from |
the diffusion of wealth aud the patriotism Of |
the people, q tremendous war can be- carried |
on without material injury 10 the finances of |
the country, which would render bankrupt in |
one year the greatest Power OF Europe. This
is the secret Of the safety and security of the
demand notes of the government OF the Uni
ted States-a mystery which astonshes and |
,oniounds the calculations Of all the great
OF England and France. IN. y.
Herdid.