New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-12-13
RsNANCR.

This country il DOW running into debt at the
rate Of fully Five Hundred Millions per snnum.
which would DO reduced considerably below
-Four Hundred Millions by tolorable approach
u sOundness in OR Currency. That il TO say;
we are paying Eleven 70 Twelve Dollars per
barrel for tho Flour and q: least Twenty Dollars
per hundred for tho BACON consumed by our
vast armies and naval forces, when wo might
buy at half these rates il our groeubscks were
worth ninety 70 ninety five oents in coin per
dollar. Our ships Of war. transports, ordnance,
sn all arms, ammunition and nearly everything
else required for the prosecution of 20 gigantic
war, cost us nearly twice ~ muoh-thas ia, aid
twice as much 10 our Public Debt-as they
would If We had tolerably sound Cureocy.
That oar Currency has fallen into dilapids-
ton Is not the most disooGrssfng fsctt we are
more dshcartened by the leaden apathy where
with this il accepted and submitted IN, when
it should DO treated by Executive, Congress
and People precisely IA hOuse on fro There
is no need that it should continue We might
got out of this slough If We only would. II
would coat something. but not half what il does
to remain init Our law makers and high officials
should resOlutalS confront II, il only for their
own sakes, since it in dcmOnsrable that mono
of Thorn Is now moro than half psid. The Presi-
dents S25 900 q year amounts rally to little
over $40, 900; 30 with Cabinet Ministers, Heads
of Bureaua ard Congress. They are getting
but bali what tho law allows them. because the
money they receive IL worth but minor frse-
ton Of its face. Tho greonback that calls itself
s. il unconsciouAy a liar, it ID really but
Ettlc over 81. And this Ike all other lies,
though II seem for tho moment Advantageous,
il general mischief and de.rpent. The
schcning. gaming few may make by il; bu'
tie Industrious many must 'oos.
OF course, il il urged thu. Q vast necessities
Of the Government render IN 4 currency deprc-
citation inevitable; and We admit The plea to
certain extent. We have mover believed, and
bavo not contended, tia: tbs country could have
gone through such q struggle and maintained
Currency based on aud convertible into specie
at par. That would have been too much like
rushing tho waters Of Niagara through pump
log. But VIC noed never have hsd Gold above
fifty per cont premium, and ought now to have
1t Ar below that rate. Prompt aud rigorous
taxation first, then high rates Of interest on
temporary loans o. ths sslo Of long bonds at
suoh rates as would command money, should
have kept currency imitation and depreciation
within bounds, and prioos generally from ton 10
twenty FIVE per cent. instead d sevonty-flve TO
ono hundred and fifty. above tAose Of Peace.
Some men make money BY currency de-
probation, but many seem TO lose for every one
horealires 8 gain. The College professor. the
clergyman. the clerk. and au others who live
on salaries or Hxed incomee, kssnly feel that
their dollars do not 60 nearly 30 far "a they did,
and do not feel that they got moro Of them. Tho
lender who u paid OF gumblss that the money
paid him 10 worth but forty to City cents on
the dollar and forgets that. bat for tho deprecis
ton. he might not have boon paid 1t all Thus
every one counts bis losses BY the depreciation,
few perceive and fewer sdnit thslr gains.
Never were % many mortgages paid Of, 90
many ons-standtns debts squared up. - during
tho last three yeass, nsves ven tho industrious
poos 20 nearly out 4 dstt = now. Small ar.
nsra whs aevss betsu 6sw waA Il VI to b