New-York daily tribune., 1862-11-05
shower of bank notes, giving five d.llar. - 49,,

Of prices would be instantaneous, becarss s...
individuals purchasing power would be four.c,a
greater. Thus prices rise suddenly or slowly !,
l exact proportion TO the sudden or gradual e,n,,
! sion Of the currency. On the other land. If n.
currency be contracted, prices Gall, because ths,.
ars fewer competitors in market having money ),
exchange for property. ConyuI,ons from r..
cause haye occurred so recently among Us a, to b.
painfully remembered by many, and TIE genera,
principle is too well understood to need argu,oe,,
20 enforce IL.
AS the Government paper has been slowly com.
ing into circula;ian the rise of prices has bee,
gradual. 1t began with cotton, though 10 that ia
stance from a different cause, until the circle h.,
widened and included every commodity, bu, rp,
estate, which is always the last to be afFectsa
either by expansion or contraction. II will i,
time reach that ALSO When the Government h.-
gan It's issues it was taken for granted By man,
persons that they would drive home an equivalea,
amount Of bank currcncy-that million Of Gov.
rramcnt notes would disgace million Of bank.
notes. They supposed tie only missing currency
would be coin, aid that the whole volume would
remain at about The same figure. Bat this sappo.
sition has proved singIlarly ialacious. Bank
loans have gone OF increasing instead Of diminish
. ing Cold has been m3d0 the basis Of cnormou,
loans with which more gold was to be purchased,
uiiil o., speculation in coin, combined with Gov.
ernmcut wants, has raised the premium 10 pom.
u. high as was ever reached in this country, even
whenengaged IN foreign var. IL hthatoi 1912, specs
never rose above 30, though the paper currenyd
that crisis was probably more worthless than TIA.
Of 1916. More OF If WAS issued, end less Of it wss
redeemed. The difference between those twp
periods ard tbis is very strIking--then, tie Gov.
emmeat c.amord ior money % any rate OF de
com. on iis paper issues; pow, It Is Tie peops
vino are clamoring for similar issues taxing Ia.
lions 1t premium, otlers at par, but none at
discount. The currency, up 10 this time; Is eyi.
Gen,ly not excessive at least not dangerously 50.
IS It has gradually become didused, it has n
gradually deprecated. The measure OF dePreGs-
lion Is seen in tie difference between the price d
paper and tie price Of gold. Bl, The prcsen:bsa
price Of gold is unnatural. The pr,uiiqm h-s
s.scn spasmodic .lly by sudden jumps, ana thsD
.hc eject ol escessi,e speculation. Ii would laTo
raou gradually % the currency exparted, BAD
not speculation taken hold Of il, as IN this coua'Y
t. r,ishrs unon every thing with s>psobaolr marga
attached to 1t. Gold yibra;es daily rising sal
falling sometimes per cent. This oscillation s
conclusive evidence dat the present cnoHnou,
premium ia not warranted by the actual condition
OF the paper currency. II i were, tLe P'crigia
would not be so guc,uatng; and if the sp,caa.
tori could be prevailed on 20 let the article alo.e
the real depreciation of our paper currency coai
be ascsrtained with satisfactory accuracy. Urlr
their manipulation 10 p Al iniefaite quoS.-g
Br. the shock Of general rise Of prices isnow
upon us. Every householder is beginning to feel
the Iieh man when be lights bis shilling
ciga'. tie poor one every time he dips lis 'poOn
into ihe sugsr-bow. The nation, with its usual
de1ib..;y, viii in time adapt iiscitto tie altered
condition of things. The sooner wa 20 SO ils
sooner we shall be better OF. Ail commodities
I
the currency goes on expanding. none viii escape.
II has alrcady made the Stock Board crazy be.
cause stocks can be quickly purchased ardp
quickly soi. Oib,r descriptions OF property ior
which .mc IS required to change tie oNneaan
wi DE- tue ilsl 20 be al c.ol. Il stocks are iho
pioneer indicators o. general speculation, TO
r.ar.euarl 81 real estate. Whcn rcnts rolltu p
ot4r figures common Eve years ago. and vias a
te suburbs Of large cit.ts aIc converted a.o ee''
ucr-,ots. and sell at golden prices, We may be $40
tie currency has become 50 excessive Us 10 mahs
it prudent 90 stand from under. At pres'1L
thing. are in transition state; prices arr e'1'
up, blt incomes are stationary. IL az tAa iet4-
ie 8 o. liked incomes who are To De- mos. u
ic.cd-tlose with nod rat ones the most lai-
By. These constable tie ma,s II Our pcpnlloa
Clerks operatives h6orers and the mui,tld''
WHO i've ca small dividends The .o-mcr hlee -
remedy but higher wages or Increased tcoaoay'
while with tlr latter class economy the soi' A'
.cllaiiye. The former are a,rrady complaints
and threaten s.r.hes. !, is easier to s.lae 'Aia
TO economic. Bat remedy OF that kind even
when sucoes,tI. has but "A iuu..ed efficacy. ia''
must BE- i stringent national economy. h'"!
family must lesson its expenses. We h17e al
lived so wei That there j. ample room Tor cu''SA
incnt. Silks and broade,oth must le made '0''
double duty. The oil coat mgst be worn !s'
logger. Our fthors praciiceG oil tbs, aud 'A'~
athers vast deal more. Make tLo eeoa0H!
national Que. and the force Of tlis erea' rs'O
prices W..l be elItcually brcLcn. The l''iN'
tley choose. can thus save more than 'he SpP'SN
sion Of tie Rebellion is 20 cost the nation
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