Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1863-01-31
[From the Portland Daily Times of Jan. 2lst
Treasury Note Currency.

l.
Treasury Note Currency.
A private telegram to San Francisco, from
Wall street broker, says:
"Ncw York, Jan. 9.-Five hundred mil
lions Of dollars in legal tenders are to be is-
sued, almost certainly. Gold, 80, likely to go
to SO. Murfreesboro-a doubtful success.
Vicksburg-probably impregnable."
The above item will be recognized as part
Of the eastern news published yesterday morn
ing. Such circumstances as the sending of
this telegram, and the facts connected with it,
throw some light on the matter of the depreci-
alton Of Government currency. The telegram
is called private one. It is not intended as
piece Of news to the Pacific coast, but to
accomplish soma individual object, which the
person sending it considers Of sufficient i'm
portance to justify his sending private dis
patch. 1t is from Wall Street broker. We
doubt if there is any name signed to it, but
on this point we have not sufficient informa-
ton to form belief. Taking for granted,
however, that it genuine telegram, from
genuine Wall street broker, the purport and
prompting of it are not materially different
from those Of like dispatch without authori-
ty. Wall street brokers have already realized
millions of dollars from the extensive swim
dies they have perpetratcd upon the people Of
the United States in the matter Of legal tom
der notes. To-day their Golfers arc full Of
greenbacks which they have bought up at a
great discount by such false representations,
undermining the confidence Of the people in
tho Government, and it's ultimate ability to
redeem these notes.
Money, on real estate security, is worth
only six per cent. in the East. Taking it for
granted that these notes will bc redeemed,
here is gain equal to the interest of their
coin invested for the time Of over six years,
all realized in advance, simply by this pur.
chase of Treasury Notes at thirty-eight per
cent. discount.
But the next step, after obtaining the
Treasury Notes, is to turn them into U. 8.
six per cent. bonds, payable in twenty years.
Thus they have managed, by simply turning
over their money at once, to make clear tho
interest Of their capital for six years, and to
invest both principle and interest at a. profit.
able rates as it were possible to invest At in
private loans, and to have all the property in
the United States for security; and not only
this, but they have placed their business. for
tho next twenty years at least, beyond the
roach Of financial crashes and panics such a.
took places in 1858. and frequently before.
| In moral point Of view, the action Of
these spectators on the Government and the
people, might be Of questionable character.
even were the representations true, by which
the depreciation Of currency 10 superinduced.
But when it is remembered that falsshood is
resorted to, and falsehood. too, that is closely
allied to treason in that it gives encourage
ment to our enemies, there is no longer any
room for question. Morally. socially and po-
litically. these Wall street brokers become
downright swindlers.
Five hundred millions mora Of greenbacks
to be issued almost certainly" This is .
deliberate falsehood. got mp to mako the peo-
pie Of the Pacific coast suppose the country
ia to be flooded with paper currency.
Three hundred millions. is the greatest
amount which had been proposed to Congress-
at the time that communication was sent to
San Francisco. And the probabilities are,
that only two hundred millions will be author
lied, according to ono proposition now before
Congress. Here, then, is a lie Of at least two