Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-10-30
70 tfs Enquirer.
10 TE- I|'I'N
THE CURRENCY QUESTION.
OBJECTIONS TO cosrrLsok: ScSDI%1 e9SSE.
EREo.

l. Pay 60 IL G"rNi
.. Fund az il soes; o..
2. Issue currency as it gers.
OF these, it has pursued The last a'I wors
method. It must ainT.. ore ct iae on"
modes. or continue in the present: ID no"tA3
is practicable. TIE las. hein: thu wo->5, ~
question iies bc:wccn tie o;hir two 'deS "
| dealing with our di:iaultic.. IL hare g"%h:'
The -cr$t aiisraQtisa 10 gT:rt cEirea:t5. INT
| consequences uf his p,!:cy were dgc.t ur3!
in the former number. TIE: arc ?ateat, GT
| dispu,ed-ircTeaSing daily. Ih!s r'Ii. NJ
must quit; but, IL quii:in: ibis, are itEts4 II
adopt one Of the Others. Inc seFnl is u
rnilder, and, il so.ae respects, the rfeieTs'i
mode.
Suppose We had pursued il in tin begin
ming Of the war-tta;, instead d q fooi Q
currency, the necessary r.r centum o; Ia
capital Of the country h%:!, by a just nr"ces:
Of compulsion, been forced inso bonds, lcaF
ing the currency only adequate - It's i'&;,i
mate purposes, rK to suprlg t!a de'nan.a"l
exchange. And SUPPOSE us: tits had 0eef
done regularly. never allowing the currency
to pass the proper point. Cav any ore ia'i Z
perceive that the stupand0us khanciaI corfu.
SinIS, NulCu OlE 90 SCI Si.1 ptIs lI'No~h' 'E''l
would have been aroiGei? But. instead 81
that policy, we have issued simply currency
No one has agreed with the Government 70
keep it. 1t is not in proper form to keep
It's very name is indicative Of IL Ctrs.ant eur
rent passage from hand 20 hand. No a. ns:-
ment of the properly Of the cvu"trv has been
made in reference t. - doing Otherwise
Each man who gc.S il, gets Il EUC 20 keep. 5nE
to get rid of. lie does not consent - hccrn:
the permanent creditor -! the Government For
, series OF wears, hui Only - take lis p-@srn:
promises t" pay, ani pass ;hem u sclAa oH'
Slse. VITO Simply expects :" keep 'hani going.
And 50 it is that rai'er duo oG shos; ;is'o ~
cumula. : beyond ~ prec"lca'. and al II"
evils Ct 4 redundant cu!renr: e2vjrra and
distress Us.
Coming to this ]t-irinm. this p'a.e where three
rEys mee;-we ha"s taken thr rranG road, eiil
are in search OF the Ii...t. Funding we say - h-
the right road-ro:UmGgry. 50 ,".g n, !:::t up
u!ies-iben irro!nnrarv-c mpn'>ory. ihs ~,
isctions - this process, may Nc agaae!.ti u? |::-
Ter Ire following heads. w:
!. Doubt j, suggest! ~ II is constitutions
al;:y. j i, said tta: Congress has no ,.g!:- +"
compel funding.
= 1t is cont-nlei :i.a: ra ouglL rot 70 pay
ali our debt-tha: il should &c srseT.
3 That We ought mot to nay !; rr,r2:';onS!,lY
20 property, but III sore different proportion.
1 Tina: it ought 10 u pal! manly by sp.cn.
Iators. aud that am off; wh;ci. : il! sPeruIr;nr..
hands orght not 10 he paid 1t s,i-ia i wnri. ti!ai
ali til. losses shnai! IA Of The .p.c:i7'cr-.
5. That il is inlpo!:!!e 10 CON pei !amiirE-
tina. the p.op!. wi! ,Dp: SD i'--.H ert:i. III;
it. will create a revolution.
G. That some States bling in he c"c:ny'S 'ioss
the funding will U.l to- ;:a-T!ly u!.2u ,'= S;a;cs
within our own lines.
These -" the o;j-rt;oHs in their iii force. So
fp. =, wc have heard th,m Or understand them
!. In lc5ard - the c6DS;i;auoua':rY: C,n-
grcss ha, the undou5tel genera! ri.Ga OF tax.
alton. THIS is n mere mobilization u tia;
rower. Congress can lay the tax aeaiel 20
reduce the currencr, and allow the ci.:2cnt the
right 10 fund, by way OF Il!eriation, .: k'SoF-
ton. This plan j. entirely free irpm amy'
constitutional o!ject:on-a tax, with lie grI-
yilege Of committing i: into u lGaG 90 cer!ain
terms satisfactory 20 the government.
Again Congress can levy the tax payable
in gold or silver, with the rriYlic-" q paying
in the coupons Of certain bonds. Tbi- r"a,1
work the same result, and 'r w!D ~wasurwiil-
ing to accept the communication, Void s"""!:
be held to the payment o: tbs tx.
If there be any difficulty las we 30 rot see
that there is, in the way of u dir"c: and ii'c"-
table forced funding, being :: mode g ez T.
risi1y the taxing power, Congress can rake
thar the privilege, associate! with TIC c!'a.
duty Of paying taxes.
=. If it be said that We ought not e. T"",i"
whole debt, it C':rir. to lie scaled, still til: i,
not Incompatible witn ~comrH!sor" i""Ilr--
If We ought to pay brt hall the d"h-. *!,i! i
is equally necessary 70 c0mIci lie reduction
II tue currency 10 tho proIar Standard. Gilo--
ing bonds only tn the ~ sWn; Of hAli .iic cur
rency outstanding. Tue remedy still sr;t>la@
case.
But, qrerc:-Whnther TIE objection (~hii"
not really inconsistent with ,hn schema. itself
rests upon q good f)unda ion: /, j. l]ar,i#'
rcrndia'ioa. If We ou.h. 10. !, Fry 'hn
wE,l', why not? We promised 70 III -. ~:
issued q written promise 70 pa? 10 IT," hcar@r
nr ? certain piece q: parcr II. m:rT Gn:;""-. %.
such a time. Why should wc not Do it: B.
cause We did not get q dollars worth il r"to'i?
We got what we agreed ;"tak- a. such. UG' i:
was not really w,r;h X. =: il ~. 1t dos
NOT become us to FAY e, hc~c~e.. But Was
the consideration always, #ni il al eases.
worth less than n dollar: Fnr cxan4pIe. are
xoldiers' wages worth less than was patti FIR
them No. Yer, thcsa constitute a !arga
part Of tho consideration. Again. men sold
lands and other properly - ln"-r T~ci:ti""
rates than articles % consumption ere A,,l -
Again. men took old de!,:2 in this Gu rrercv.-
How are these notcs IN ~ sc,i"d? Again. j,
supcrabundance Of .urnly. a"t hazards #
ultimate payment, caused a leprcciati II. -
not the man who tonE ;ir risks and furnished
the articles nredaa, e~",itic: 80 "omma">a;:on
for his risks? But. wicrr is the lnrn who
got too much? 1t w.. A =. But : y has
parted with it TO 9 ID, an innocent holder
From the very nature uf rnrrenc7. it has
changed hands Unfortunately. \, well en-.
deayor to trace Il particle Of salt in the SEA %
10 get at the dollar that wcrt 70, cheap, ana
distinguish it from tic dollar that went a:
value. .
But il the debts to be scaled, it can as veil
be done in the rate Of funding rs in any othar
way.
8. But it is further cortondeJ that 70
ought not t" pay prcPor:;nnately 20 property.
But in some other proportion.
Be it so. Yet, in whatever proportion il Is
Just to pay taxes. in the samc proportion corY-
pei funding. The great part oftlc present
article is not 10 settle on what principle to tax
or fund hut 20 settle whether tn tax TT fund
at all. It is to decide on which Of TIVE ~ three
grand divisions ef the r'al to prHccci. lca"inc
explicit details to the futr"e. We Must pay.
fund or issue corrcncv. Which Of the three ?
But Lot i. be remarked ti'as the difference
in modes is not SO great in It's individual Of
fects MS supposed. In the State Of G~;eor@;a,
before the war, the proncrty # the STATE ,:@s
estimated at about 500, ESQ., 0D, GU which
taxes were paid. OF this about IL per c.as.
was slave property, about - per cont. real os>
tate, about II rcr cent. money ut interest, two
per cent. merchandise, ard one per cent. man
ufactnring capital, six per cert. town rFoarr>
ty, while all other property. irc!&.:ng fn2ai-
ture, &c, amounted 10 seven per cent. @"
this it is to he remembered that the seventeen
per cent Of debts really is nor . part Of the