Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1862-08-01
:it"lu the %-~ :!rH ""'ii, JOY -
HIM .rkSIEr huTt., f,IE nSk Lnr.

| Mr. Chn:e has Succeeded in obtaining bill
from Congress TO make postage stamps legal.
tender money. Alr. Cll;,ar has illus the ea-
! elusive honor of being the first financial agr;t
Df anr Government that ever vrnturrd To i*sur
lrgal-tender money Uf the denomination o.
.:one cent" This bill is the final, GROWING
act Of insanity that conSummatcS this inqu-
touS paper money system oil Mr.. Chase.
| To" much paper money has caused gold IL
advance I" nineteen per sent. premium, OF
rather has reduced the value VI MIR. Chase
lcell-tender dollar To righty-ulle cents, Ant.
Mr.. Chasc'S remedy for this is like unto thai
of Rehoboaln for the evils Of the children Of
lSrael--he cures them by Increasing them; he
decreases our paper money by adding about
s4O,0u0O00 to SG0,0OO0uD in this proposed
supply Of postage stamps.
Ihr bank note circulation Of Great Britain
! and Ireland, on May 81 Of this Year, wa;
$lS7 ,nu0,0Uo (c37, 554,j54!. The largest
| amount the United States, North and South
have ever had, WAS - 4,HEI.nDu in 1851, ami
III tho Free States $l5G.UOu,O0u III lsGU.
When Mr.. Chasc's paper schemes are cal.
ricd out according To the acts Of Congress.
now become laws, our paper currency will be
as follows:
Mr. Chasc's legal-tcndcr notes, by
act of February, lSG2, :l500U'f"'
Mr.. Chasc's legal.tendcr notes, by
act of June, 1862, ljQ,00plHM
Legal-tendcr postage-stamp bill,
by act OF July Il, 1852, G0,0uO,W"
Bank note circulation before the
passage Of the act of Feb, '62, l50,n01i,WI,
Probable increase since thcn;upon
the deposit oI lesal-teudcr notes, j0,0O0,1Ui'
Total, sJtU,ptn,uVV
Gold is AT nineteen per cent. prclniun.
from the ,,e OF about s1OOUO,OOO legal tender
notes. " hat, then, will be- its price when
the politicians and spectators paper sciirn"
Is carried out to its full result ANY one
can make the calculation.
The only cliectua remedy for this depre
cation in legal-tcnder nOts Is TO Use no more,
and to withdraw as soon as practicable those
in USE or bank notes to an equal amount, until
our paper money is reduced to $l5U.Q00UO0.
or at the outside ;2O0O00,0O0.
Let Mr. Chase pay contractors in crrtiti-
Gates of indebtedness or United States six per
cent bonds.
Let Mr.. Chase use the s50,GO0,000 ofTrcas-
ury notes bearing 3.65 per cent. interest, All
thorzcd by act uf Congress, July, ISGl, in
The denominations of ~ ami $2u.
Let Mr.. Case authorize Mr. Cisco in New
York, and also the Assistant Tg-aEurcrs il
other cites, to receive money On deposit al
live per cent. interest.
Let Mr.. Chase authorize Mr.. CiSc" To sell
on application any ofthe Government sr''u-
rites, 1T price agreed upon between the de
partucnts at Washington ana New York.
and i'll accord, of cour.r, with law, and sc'-
crurl somewhat by the New York n:a,ke;
quotations.
If Mr. Chase will try. these simple and we'll
tried modes Of raising money, and will discard
entirely his paper theories, the finances Of the
country will soon he placed on more sound
basis, aud gold and silver will rcappear in
circulation without Il premium. Mr.. Chase
proposed paper remcdes are al aggravatIon
Of nnr financial luiscrics, even now almost
too lntolcrablr iDr further endurance by the
people d! these loyal States. Let Dir. Chase
leave paper MONEY To bankrupt CouttderntcS.