The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-07-13
Finances, Market, &c.

When the currency of the rebels had
deprecated SO that it was worth but fifty
cents on the dollar, or the market value
of gold was quoted at 200 in currency,
abolitionists pointed at the fact with de-
rision, and predicted the speedy collapse
of the rebellion,-for said they, no gov
ernment can long stand up under war,
with its credit worth only fifty cents ON
the dollar. Pointing, at the same, time to
own own newly inaugurated financial systems
the father of which was Chase, then called
the "Neoker of the Union,' they assured
the people of the soundness of greenback
currency, and the almost utter.impossibil-
ity of its following in the tracks of tho
confederate shinplasters in the deprecia-
tive line. Gold was voted almost a nui-'
sance,-greenbaeks were made legal
tender, and the "Yankee money" was ap-
parently expected, by the loyal, to take
the place of gold the world over as the
standard. But in the sober second thought
the ever credulous people began to lose
confidence i'll the prospects of the final
success of the "great Yankee nation" in
making breakfast spell of formidable
insurrection," and greenbacks, although
struggling hard to keep up to the top
notch on the stick, began to drop down.
wards. The government" tried to prop
them Up with all manner of legislation,
denouncing these as traitors and disloyal-'
lists who even permitted themselves to-
doubt the soundness lof the. greenback
system. But it was all to no purpose
Down went the currency, and up went
gold. The financial world failed to see In
the "great American fnancier," any Of
shrewdness and caution of the renowned
oIo
lition 'Necker"' saw his glory departing
with the departure of the peoples conf.
dence in his paper baubles. Now, rebel
currency, deprecated as it is, is used no
longer by abolitionists as a subject for
ludicrous comment. The laugh has got
over on the abolition side of the mouth,
and gold, compared with greenhacks, is
quoted at tsoo hundred and forty,-or in
other words, greenbacks are worth just
41S cents on the dollar. The price OF
gold one year ago was l45, and at that
time the amount of outstanding paper
promises to pay was S43O,61l ,93l, OF
which about S100, 100000 were State
Bank notes. At present this amount OF
currency is about 1863, 900, 900, with gold
at 240. To keep up the expenses of this
great war, which is every day proving
ltSeu more anu luOT0 1Iu1ticSS III 1bS doS
tempted attainments of success, and more
destructive to the country In its results,
Mr.. Chase says he must have more mon
ey. With every days continuation of the
war the currency depreciates, and if anoth.
er financial year shall again double the
volume of paper currency, and the depre-
citation follows in the same degree, VIC
shall have perfect ocean of greenbacks,
noniDalIy worth about twenty cents on
the enthusiastically worth nothing. The
greenback question is getting to be very
important one to the people, and the soon-
er they put the reins of government into
the hands of better men than they are
now in, it will be the better for them
Deprecated greenbacks and high taxa
ton, the legaoies of abolitionism, are not
very acceptable, or at least will not be
when they get to be spread on too lav-
ishly. 81