New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-01-16
NETWORK DAILY TRIBUNE. THURSDAY, JANUARY 49, 1862

that Government deJt IS a lien upon all de toIaJl
property and resources Of te e,snt,y, the Govern
meut may, with Irorrety assume i at surb deb
at par, drawing twenty per cent interest Vii! be &
satisfactory equivalent.
But il will be ssked How viii ,hi, effect lie Bank
aud moneyed Interests Of the country b is he very
best thing that Government can do for that interest
If the Government will pay its debts in money the
Banks and bankers can ask nothing more of it-they
have suspended because they have aided the Govern.
mcnt beyond tier ability. The Banks could take tbs
currency certainty under shpulaons 10 pay il out
on deposits and for difcouns, aud pyObatiy without
any such ttipulaions and they could resume specie
payments the day the Government reached that posi-.
ton. There is plenty Of coin in the country, and
there is no demand nor likely to be Immediately, for
foreign export TO diminish it. Probably the
Government and Banks could reach The specie basis
at once upon the adoption of this plan. Certainly il
the proper permanent measures were adoI ted they
could do 80 at a very early day. The Banks and
capitalists Of the country hold directly indirectly
most of the pat due debt against tie Government.
They will gladly take this currency for such indebted
ness, and when they get it, unless they can loan it
Government debt at the best price az which they
can procure such debt. They will not hold it Idle
without interest
Should the Government in this crisis pay a high
tate Of interest for moderate sum of coin Temporal
rly, in order 20 demonstrate to the world s deteIni-
nation TO maintain IFS financial honor, it is money
well spent. by paying its debts promptly in money,
Government will ten dollars m the prices il will
have TO pay for its supplies for erery dollar Of
extra interest II r'H thus pay; and its debt would
conf and money at tie lowest rate of interest on
other good securities for no security can be better
than our Government debt.
Ultimately there is no way but TO tax the people
and property of the country to sue.an the Govern
ment, and as a part Of The permanent system Of
national finances, the machinery to do il should be
perfected and put in motion early as possible.
With Us the people arc sovereign, Government ls
their agency, and Government officers their agents.
The people IN the loyal States have responded to
the call Of Government for 1900 and then for
500, coo men, and they ready to respond to the
last man and last dollar TO Gus ain the Dotrer aud
financial honor of Aeir Gorcrnmer' and unless
some better plan can be devised hey are r6aiy 10 |
respond 10 a direct tar upon the property Of the
country TO the fail extent necessary.
A Government without power to enforce its laws
and authority, and without financial ability and
honor, is rope Of sand not worth preserving. The
people in the LOYAL States know and feel this and
they expect tLer Government to take that high .
stand, and they are ready 10 furnish tie men and
means with which to do il, ard they sesire bold,
% IL nat~
Respectfully yourr,
JANIS A. COMING. J