Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1863-12-19
TIRE PLAN or ME- NEMMrNGER.
he Richmond Examiner OF December II

The Richmond Examiner of December IA
SAYS:
The reader will find in another column Mr.
Memmingors outline at "A system" for con-
-olidated debt and a new currency; and will per
ceive from the reports that Congiess is full of
schemes some Of which must soon be adopted
In lev weeks, perhaps in few DAYS The ques-
ton of the reputation or redemption OF our eur
rency will bc definitely settled The levity with
which the former alternative has been regarded
in too many sections and too many circles of the
Confederacy, is already giving way TO a certain
fearful looking forward TO the consequences of a
possible restoration Of the currency to a healthiul
tone
The more experienced. ga mbers are beginning
20 hedge, and soon this becomes fully evil
dent, the amateurs who have merely followed the
lead OF shrewder oper ,tors. will hasten TO initiate
the example of their file leaders. The line once
broken. the retreat will be n rout The prospect
j. not pleasant TO those who are interested, how
ever serene may be the contemplation OF the
lockers on. who behold the tempest from the
shore on which they have been stranded by the
storm OF war, or from which they have not been
swep, by the tide of speculation
IL il to de hoped that reputation will find no
advocate in that Congress TO which the nation
looks FOR FIR different solution of our financial
problem. But reputation has IL advocates
advocates led by self interest-advocates retain
ell hy despair. On the former class we have no
words to waste There no ears more dull OF
hearing than those OF our modern Mldlses. But
the htter class j. composed in great part of well
meaning men, who have simply become sea sick
in the orm which is shaking our ship of state
from stem To stcrn-men who may possess ample
abilities tor navigating a vessel in hnrbor and
sufficient strength of stomach Tor holiday ex
cursion. but are sadly out Of place when caught
in typhoon or in that "tempestuous wind called
EuroclydOn" Now. sea sickness is distressing
malady. but cnn hardly be regarded Us tragic in
lis character it's effects unless il spreads To the
crew and the man at the helm, which Heaven
forbid
To throw off the present currency 10y repudia
ton would be a simple process The let-alone
system would bring about that result in "a few
weeks. Confederate notes would cease TO circu-
late from sheer weakness; would not even have
vitality enough to run down hill Aud hence the
ietalone system is popular with this class "A
any change of position is productive OF new dis
comfort To- the sick man. 40 my attempt to better
the condition Of the currency is nauseating to
sheSe despairng patriots Our Treasury notes
must go the way of the continental issues and OF
che French assignats, and the sooner the better
With the latter clause we agree. Ii they must
die. the sooner the better
Murder and sudden death would be preferable
IN thls case 10 the slower process OI dissolution.
But what j. 10 take their placeg How we
get healthier medium of circulation. if either
by speedy or by more gradual "course of ex
Junction" the present currency Is utterly discred
tedf The source Of that currency the Gov
ernment-will be equally discredited. and the
new issues will deprecate with rapidity to which
geometricsl progression il slowness itself Even
ii We could succeed in drawing from their hiding
places in The strong boxes OF Northern capitalists
and Southern alarmists the State bank notes
which once constituted our circulating medium,
the amount would not be sufficient for the ex
banded character OF government transactions.
nor could the government gain possession OF them
in time to meet is engagements
The same remark applies with greater force 20
gold and silver Private Transactions might he
carried on bv barter. and although tobacco and
ten penny nails would be somewhat cumbruUs IN
settling large balances. still men have made shift
TO do business with commo dtie- az announcement
as these But no such premature methods would
answer for the conduct nt the war on the present
large scale: and. although might BE- ultimately
successful even without currency. the want OF
a currency would prolong the struggle for years
and wears.