New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-01-25
$50 OCO 900 out a, this time, mon which the Govern

500 GOO CO0 or more be kept out within the limits
Of per cent interest. Az far as il could be thus
used, it would certainly be advantageous TO the Gov
eminent and people.
These Temporary measures, if iudicorrly managed,
may sustain the finances of the Government until BY
the demonstration OF its power to put down the re.
beon and to sustain itself by taxation it can bor-
row money at a reasonable rate of interest.
| II the Government is u be sustaincd--and who
doubts il Its debt is the best security in tue
try and should command money at the lowest rate OF
interest Great Britain sustans at near ar debt OF
81, 600, 600, 600 ats y cent annum in crest, and
raises annually by direct and indirect taxation nea
s JOG, coo OO0 Why should our Government debt be
unstable at par At y cent.
In deysing more permanent plan for the man
agen ent Of the national finances the first thing 10 be
considered is
MONEY.
Money is that commodity each piece Of which has
its cOmpeicial value determined by law and stamped
upon it. 1t u.s. 80 to speak, tie personfcation Of
commercial values. 1t is the standard and measure
Of value in the monetary system. The precious
metals coined at the Government mnts, aud s1ch
foreign coins Us have been legalzed by Congress,
constitute the money, thus defined, Of the United
States.
All uses and purposes Of money may be arranged
under the following four heads:
First: IL is standard Of rolae. For this pur-
pose it has aud can have Substitute in SYSTEM
we however, require but little for actual use, as
standard
Second: II is currency. For this purpose, we
have Il substitute in paper currency and incidentally
in checks, drafts and other forms Of credit We re-
qure some coin for currency, but the more perfect
the subtiutes the lees coin required fer this purpose.
! Tkird III a necessary security for eoHJert'Le
poper currency. For this purpose, we use, IN con-
nection with coin, bills discounted. stocks bonds,
aud other like securities; also, real estate, persona!
property. anything having commercial vane. TIE
better tie security for paper currency, indePcrdeH q
CON- The less com regvtTed 10 sustain al par girca
amount
Fourth. II is commodity Of commerce. AS q
commodity of commerce, money is used in common
with all other commodities. We use money as a
commodity Of commerce, when we melt il for manu-
featuring purposes and also when it passes out Of
the country in foreign trade.
/ In coming the precious metals, we determine The
commercial value they shall DO deemed TO have in
our monetary system. Viewed from the standpoint
OF our monetary system, money does not change in
value; in that System, a il the stamford Of value,
aud the value of other commodities changes and uc.
tuates around it. But viewed from the standpoint
Of the universal barter system, which has no com
mon standard or measure Of value, the precious
metals, coined or not coined, in common with every
other commodity, do change in value
The rs effect on the price Of the precious metals
in using them for money, IL TO enhance their value
the ultimate effect may be TO diminish their value
II NAV 81 stimulate their production a. 10 increase
the quantity beyond the demand for coming. They
are lers valuable than they were IN former ages
they might or might not be so had they never beer
used for money. The tendency is still in tie same
direction. Bn, we can guard against the effect o
change in the value Of money as well as We car
against the effect of change in the price OF other com
modities they are essentially the same, they are le
climate matters of rick and not proper subjects FOX
| Governmental control; they may be influenced but
canrot be controlled by legislation.
In order to derive the greatest benefit from money
tee must be a5ie 10 let large proportion u ,S0t ne
may al any time hare, go an foreign coDmerce. He
who has money, and,s aJLe 10 part VHA a. IL IN tie
best condition to profit by its use As with the indvi-
dual, 80 with the nation.
Money il an instrument TO aid us in the production
and exchange of wealth. regular, certain snpply
for every imperative and desirable purpose Is favor
able TO a moderate rate of interest; % constant AMI
profitable employment for labor; to the production
of works of internal improvement; TO the develop
ment Of the resources of tie country; to variety
and abundance of commodities Of commerce, foreign
A. we'll as domestic; and to moderate prices the
ability to consume and abundance OF money coun-
teracting the effect of superabundance OF commod''
ties. 1t would increase our foreign commerce. at
tract tue Skill genius enterprise and capital OF other
countries as well a. encourage and employ orr own.
An inadequate, uncertain supply of money would
have directly the opposite tendency.
! The laws of production and consumption, OF de-
msnd and supply. which Governments 'nf1eHee but
cannot control, will bring into existence certain
quantity of money; the more We can obtain OF this
the BETTER provided we pay for with something We
can spare or produce it among ourselves. Arednnd-
ance of money may be temporary disadvantage 10
the few, but it will benefit the many scarcity may
be an advantage TO the few to the certain injury Of
the many.
In realizing this abundant and constant supply Of
money, tie people must produce the commodities that
will command money from foreign countries; oil
mine the gold and silver to be coined, looking 10 the
Government only to coin what is presented, and to
facilitate their operations by wise laws
| Our Governments, National and State should act
IN harmony with each other and with the laws OF
trade, with the view to having at the command OF
the country the largest practical amount of coin at
all times and Of freeing the largest practical proper
Il 4.