Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-02-17
CuRE YoR TIE CuRREaGy.


CUBE FOB TIE CuRREac2.
Amongst the nsay p!aus suggested er
bringing ouc financial sfaIs into taeTe
hsslthy condition. two methods are most
generally favored Funding of Treasury
notes and Taxation. The two are distinct,
but capable Of combination, aud calculated to
voik best together. There s.o differences
Of detail, tsraiDg mainly upon tho question
whathsf tho present generation should charge
itself with the payment Of the greater psst OF
our war expenses, or should lesvo mo great
or part as /. ch.rge upon pcs:erity. Those
who believe that pcsseriiy should pay most
Of the debt favor the funding moro than tho
taxing process; alleging that We ought not to
DO called on to do all Tho paying rs well rs
all tho fighting; bat that az We arc lsboring
to establish the permanent Independence and
vol being Of our ccuntry, We have RI 1t to
expect that our children cbIdreD, who will
peacefully resp the beGehts, should pay for
them In sill tina. Thtas who think that TIE
present age should diseas.se:ts own bill, csll
for high taxes.
--For the most part, hawsves, it's proposed
to combine the two methods. cy fardirg and
taxing, In proportions varying as til" pre-
poser lsans towards bur..en;nE oune'rsa CT
beGsuAthins the burden % poste.ity. Tie
specific thing to DO Eought for tbs Ersser! is
contraction Of our pspsr money TO acmetAing
like the quantity required for circulation;
and this seems absolutely 20 cali fer hc,a
methods ofsbserption combined. eca applied
actively aud fearlessly. Those who imasioe
that We candy sny fiosncisi coutrivADce,shift
OF the charge to future sge, deceive them
selves greatly. For !fpcsce should come within
twelve months, and cur po:ts should lie
opored and trade Issutaed With The outside
world, while ws have still o. ornouns Of rspor
currency SO much in sxcsss Of Gu. nasSs--
that psps: would 81 occe fni ;:::lf compared
with the gold standard o. ctasr c3uutziss ..d
would shrigsi ana wi'her ~ rhs oolpsris on
Il Is the present seners!ion, scd nat postsTjty,
int would thon Immediately feel tbs pressure
saa yisld TO Ga c,ast AZ "a. y5,s co-tcibu-
tor, Sentinel, observes "Ghe very point Of all
our trouble 10 this, tat cuc 6abt IS iaccyred
On an inflated paper bssia .s.:d .nust 30 rs.
on specie bsnis. A erqs-shundant GER
reooy iDfstss p:icss jiG: e. tAe ,ius when
government. IS huge pGtchaaer; snd. tie
debt &c incurred Is 70 Is ias. Ehsa eli values
hsvs setled down to !. speeis st4ads'd,"-
Thsrs 10 nc f1nsacisi oal.yiyancs by which
this con be e7edcc, OF put Of 30 suottar ase.
To promote, Or evsa to reqaits, the funding
"a good, prooidea q b=sis is isia IN
faarless taxation f,- nsia:s!ciRs lbs c-e5it
OF tho go7erHmeat. j Es tx cur
solves largely sad 60 a5se75 tia currency
In ssas vsJ, then ras process q funding slso
viii 60 O. freely spd nntueany, abaor bins
the redundancy Of paper N another. To
find tho true proportion between the two,
and 30 to give to each ;ts hsst development,
is precisely also the way TO Sdins.' .As fair
proportion Of this wsr deb .sssaween ourselves
IND -6sf dyer $40 rrOTsat universal ruin
to ourselves q. tie end CT tbs wsr and to
1Yoid saddling pSssezi:y wisa vas. and par
mInert national debtor national debt
is really Ezisvous burden to DO borne and
a ser;ous ev:l, so:h politically ard financially.
It inevitably tords TO eentra;ze power in the
hsnds ct he government " hich has tie 3D.
minietrstio1 e =; and GO 70 undermine and
ultimately overthrow tie very principle
State Sovereignty AID local Government
whish Is ths bssis Of our political sys-
tsn.
Our friend Sentinel greatly ednires the
Erglish National Debt, and tie rasoiuto urno-
suaEty with whicA lie publio creditor Is met.
Bat hop Is England snsblsd TO ray tho inter-
est on hor National Debt OF forty thousand
millions Of dollsrs? By tho p]unda- Of India
and Of Ireland. By drsin;7g other lands Of
their capital, she maintains te7 evn credit
with the capitalists of England; and the
wealth brought in from abroad, and Rsnt
flowing through thousand currents over
England is able to hssS high taxation to
ply the ho,dern Of the Consolidated fr1d.-
Oar posterity viii have no India and no Its-
land; nothing TO mss: wet dsht except their
own resources and industry. Besides, the
British National Dsbt Is tho sssa6 engine .nd
guaranty CT absolute centralized poTor il the
London Government. Thsra Ia no land for
sale In England; most OF thoss who save
money hsye no investment fer it except the
FLnds-or the Savings Banks, whiah are
bound to invest in the same Funds: s, every
one feels sAst bis all is in the hsr1s Of the
Government.
We should not wish 10 bsersalh TO our
children Government 60 einn;potont Is
this-nor to impose en- .hsm Inc necessity of
robbipg other nations in order tc inset their
liabilities.
In practice, however, we concus entirely
In the opinions Of tho writer We have quoted.
For both pu7pones: to Senase ourselves
q we'll as to relieve cur poa.erity; to avoid
speedy national bankruptcy in tha present,
81 well rs IN insoiersbls Nasica,l Debt in
tho future, to reduce p1ioss 81 commodities
now, "a we'll as to establish :. i,:- national
cradit hereafter, ne desire TO se- largo tsx
boldly imposed and cheszfu!iy bo:ps, Bag
log ourselves upon that, no cEu cE*r lover
iatercst on tho funded Gsbt soa ks:,s. vithil
bounds tho charges upcr ths tliura.
"iesals Tenders" of paper money would
certainly sssraTate cur bartbens st Isat, and
snofd, - We believe, = vsSy doubtful relief
even fof the Present. 1t wocI5, i2dssd, bs
f1ll confession Of the future ef OK national
credit and would necessarily end in scpudia-
ton. Yet We have 60 cecaps rem il without