Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1863-11-07
TEe VaIur Of Money.

The gentlemen Who insist ON lttnHt money NAV
be something which neither has nor represents
intrinsic value. seem not To have examined the
matter So thoroughly they should. We sus
geSt one illustration Congress has been leglsat
ing tor years 10 make paper money. and W.
have iood of it. 4 % the attention of the money
men has been directed to the PROMISES 10 pay
OF the government. ana they have qui e forgotten
those bts of gold and silver which used 90 be the
object Oi consideration. race of prophets has
arisen who assure that these promises To pay
have No dependence Oh gold for their value. are
not in any respect controlled hy gold III articles
uel,a OF exchange. We told that the
Tletsury Tote or ten dollars j. not ghost OF the
old ten dollar COLT liece nor relative Of the
TWEEN silver half dollars that lie in v,ult Of the
bank unused
Blu mp use three equiv ileuts living side 10y
side on lie counter of tie ieweer; q diamond, a
pile ol one hundred COLI eagles aud pile OF
Treasury u"tes amounting 90 81 l1O. or there
abOuts The three p ot squel value. The
owner Oi the diamond l. content 90 take either
the gold or the Treasury notes TO- the Jewel. Let
the jeweer lock up all three-ew ell. gold and
plUer-ln hl, safe, aud lheIe let them he. while
20 To Congress: aud now let Congress pass
act reducing the weight of lie American gold
pieces one per cent. anu declaring that hence
forth eagle. or ten dollar pIeoe, 10 gold OF
800 hneuess. shli weigh 245 ID grains instead
OF is present weight 25c grains. ana that ali
other pieces shall he changed in proportion
his act would establish the value ct the dollar
thereafter Noa 20 buck 10 the weler. and
see he will still sell the diamond tor either OF
the piles OF money tie will take the gold that
remains unchanged: but why not as well n Q
Treasury notes1 They have not been moved
from his possession They are the same idenl-
cal notes. ia texture substance and appearance
Why they not good as the gOldg They
promise IN the SELF same words Yesterday: but
IN consequence of act OF Congress YOU must
adj Sll 30. and ttle more too. in Treasury
note. bring up the value OF the pile Ia tie
original amount when il was land there In fact
something has hlpnened to the paper money
equvs lemi the effect which abs,tacting one
eagle and nearly bali of another would have on
the pde of gold.
VIII some ct the theOrizng gentlemen " no are
fond ct paper money. explain what secret Iniu
ence. what mage breath reduced the value Of
those treasury notes locked in the jewelers. safe
untouched, unrobhed, while the gold alongside If
them. and the diamond TOO, unchanged in
value?
II Congress we're 20 direct. next month. the
allowing al our American gold coinage. so as TO
bring the value OF gold eagle down 10 the level
OF the value Ui treasury notes to-dav--uay In
round numbers that Congress should allow the
gold with thirty yer cent IT copper more than At
present ,lt Is slight, alloyei nov. a. Ill know }
i any one % iaoii~i. a. ima- CINE thai she pro-
cess wonl.l bring rie tsrry notes 20 pfrY Can any
one devise q system hy Wh.ch Congress can re-
duce the value OF tie 'ld c"in4-e at he country,
80 that il shall bring d, thc mirket the 81 me pr,ce
with treasury uoje-. There one process.
namely. hy re iucii- The value ~ he coin that
the confidence Oi the e0pe should be established
IN the ability of tie JuserIfu-tit u restore them
coin for the notes, aud then thev would regard
the notes worth our a. much cor quife - lit,e
the coins. But then te-t ct ;he value Of the
coins aui notes IN me process Of purchasing
goods, or paving foreign debs would show a
tremendous depreciation ~ bota
We recommend gentlemen therefore. To stud "
that clause OF the Constitution Which suthorize-
Congress To regulate the value OF money Tn
electro magnetism. heat and suniry other de
ptrtmentS of science the galvanometer i used
a al exceedingly delicate test II the presence
and variation uf forces. the swift motion of the
sensitive needle around which the ~ire> aie cole
being the sure indication of changes Of currents
anu of the slightest disturbance, al whatever dis.
lance. The power OF Congress under that sec
ton Of the Constitution. over the weight and
tiueuess OF the gold coin Of the country. is a.
delicate and sue test OF the value Of eyery
article which men may call money or use for
money IN the entire land Let Congress make
the - -h'est disturb snce IN the Va ue weight OF
quality Of the pattern gold dollar. though tie
mint coined OnlS one solitary specimen in The
wear. aud II machinery were otherwise silent and
rustv; let Congress but breathe on the surface O,
IT, pattern C image IN Phsdelph a, N Treasur,
note ia tliiorua aud NJ tine will instantly re
sDoBd 10 the action. srd show by their huctuatior
the intimate relations existing betseen them and
the shining speciIIsel.s ~ TIE mint = y Y Jour
nsl 0f Commerce