The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-01-29
Effects Of Making Paper II Legal Tender.

Effects Of Making Paper II Legal Tender.
TsE Son has boon the first paper in tho
country to taks correct stand upon this
question, and from day TO day, AMI week to
week, iis predictions are verified a. TO tho de-
ptecistion which will arise, and Of the great
in ustico which tho above measure will work
towards that large portion OF the community,
which can least afford financial loss. Ono by
one otNor journals arc adopting the common
sense vioNs which We have expressed and
when the truth is made palpably manifest,
Congress, and hosts Of other newspapers, will
sc; upon tho right track. This could be wished
| TO have occurred fopncr.
Tho EvENrNG Posi- reasons upon the matter
| as follows
ape i'i'Du. uur 10. tncdis,strpus eff, Z. Of tii4
h'We lu"n i,tn't Il viii lessen tl. nin,itytt hid
| ul M TIE HtyiuE4 banks II will take of fri,, tUs
| mum Co., TIE depreciation Of paper money will no.
| II, INC IrWc tors Of the paper money scheme
| which hndr favor at Washington hope any different
'"n rom ihls, thcy hope against all experience,
Lat us trace the effects Of this deprocnti "a mn N
the Interests ut the hhorln9 ous, and persons of
| sum- means. These people lodge In tho savings
| Banks the little suptiuts which they ara lLIe Iy
iruEdtt md forecast 10 spare from their daily OK
i'n0e-. We do vi care u be- precisely a3cuiutc:
II
W ils ciy aud Bnnpkyu AT some fifty millions of
dollars In frugal New England they ana mt 10
80 mlllinns, and n all the free states we are r In
stating them NJ two hundred and hly millions
suppose THIS paper currency 10 be- nude A leyll
tender, and the depreciation tn am ilut L. only uye
per cent. Won wrc't At one jerk more than twelve
millions Of dullnts from tho uctumulttIuns If the
poorer class. But this IN putting th, d.tr.,i.,i,p
at - low estimate; let 1t De- ten per cent AMI tho
pp't ln-o twenty-five milluns;lot n heas who shall
say IL will not be, IN proceHsoi time-frty per cent
ana nun The small la,
small In relation u each deplstor though large iu
the agNegate.y"u deduct, uy tiis new method of
eNt"ttun, one hundred mlons-a frightfnl dimi-
hntluh q" TIE means OF uu immense class Of our pop
ulaton, and sure 10 carry distress aud misery mo
thousands Of our wurthest families. The deposition
has "a" protection, remedy; tho Interest .-, I'D.
deposit must %" paid in tho Deprecated currency,
~ u he desircs g. withdraw the principal IL lu 6e
uticrci him la piper 1.-THE Go doycn.r,te y,iun.
hc asks 'ur what Il the Government had not iutnr
mcddlrd would have been his right, and .,ot4 nor
haps wo-thiIds III.
We hope II IL not necessary a. ask r,er,bars f
Congress whether they are W.lu, ~ be rein,ei nm,
hereafter hs having voted fora s,herue which say4
tie poor widow who asks for the FIVE dollars duo /,
her, that she shall receive what Is worth but Grir ar
perhaps not more than three-to say nothing of the
danger of tho currency sinking to lower depth of
depreciation. Whatever Congress may do, we take |
occasion e. clear our own skirts of n Ity
AMI, faithful g. principles ~ huance which 10
EVENING Posr has maintained for more than
atru "l century, T. enter rernurstaure against
Tie cuurS" int which the uaude.s pi tho time |
seems I" Tee hurIyiug our legislators
The Natl nal RErurLIcAS declares that
Tie PROPOSITION 20 make paper q legnl tender in |
the payment ul private debts ~ fragrant Sd l.tl,n
~ the Constitution, isR suhycrsiun ~ one Of 10
ltding objects iur which the present govern ueut
Of the United States was instituted b. u.t'u, else
than legti2cd ruhlery aud coufsr1t l,I upa,, s,ie
c"mprchending AL the business Tel .tiun. of men.
and ~ MOI Justified 10y any Necessity which cen on
ought 10 reconcile the country g. rlt less an in
yEion Of tie sacred rights privt. property.
The Washington NATIONAL INrkIIIGFScrR.
also, journal Of much influence, aud of sound
conservative views upon the grea. question, of
the day, takes the same views viii, have boon
expressed by our journals and hopes nat the
disasters which will surely attend any ,ompul-
Sory processes to uphold the value of govern
ment paper may be avorted by timely deliber.
alton and foresight.