Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1864-08-27
Finaces and Currency.

w. ~. w " ~ EN IL II W N ~, J
-----+~--ss-~-+--
Finaces and Currency.
The unnecessary waste Of the public re-
sources in the war the enormous sums ex-
pended upon the foolish and fruitless mill
tary expeditions, (sometlmes badly plann-
ed and sometimes badly executed and sup
ported, aud the other scnormous sums cor
ruptly or unwiseIy expended in obtaining
supplies and materials Of war, would, of
themselves, have been sufficient to deeply
injurc the public credit, and to create fears
OF our future ability to bear the pecuniary
burdens created by the war. And what
ought to sting tho minds of rejecting men,
is the consideration that the general polit-
ical policy of tho Adm nistration has been
such that 1t has prolonged the war by de-
priving of allies and sympathy in the
emmy $ country, aud frittered away the
public energy upon other objects beside
military success.
In addition to which sands forth the
fact, shat this occasion of war has been
seized upon to establish system of Gov
ernment paper money, which has caused
the public expenditures and the public
debt to be one hall greater than. they would
otherwise have been, and introduced nu.
merous aud most serious evils and dangers
into all the channels of commercial and
business lie, The crash of this system =,
and the failure of all The delusvo hopest
med arrangements based upon 1t, is no
all rely possible but q probable event in
the future. The ruin and suffering which
sucr an event would entail cannot be over
stated, and avert it, or to mitigate its Iorce
is one Of the main OBJECTS which should be
had in view in settling our future policy.
Upon questions Of currency aud fuancc,
we must revert to the ideas OF former times
in which alone can safety be found.
In speaking of financial prospects and
future pecuniary conditions, we do rot
overlook the fact that opinions very differ.
ent from ours are expressed by the friends
Of power. But the appearances of pros
pcrlty to which they prefer us, are dclu-
sive.
Production in the country is now de-
creased; for great numbers Of ahorcrs arc
employed in the war, aud abstractcd from
industrial pursuits.
Increased rates of value press hardly
upon persons Of fixed incomes, and upon
all who arc disabled or engaged in unprof.
table employments.
Tho war does not create wealth but con-
sumes also the laborers by which it is
produced. 1t devours tho products OF
past and present industry, and checks the
growth of population upon which future
prosperity depends.
Aud the inevitable evils Of sta tc of war
the injury and destruction of material
interests, the waste ,spoliation and improv-
ldencc that characsize it-are aggravated
by profuse Issues of Government paper
money which incite to reckless txpendi-
turc, public and private, aud disguise for
the time the fearful consumption of wealth
and the sure approach of day Of suffering
and rotributiou.
This expenditure and The accumulation
of debts, public and private, cannot 60 on
indefinitely or for any considerable time,
The day Of payment, which will be also
the day OF trouble, will surely como.-
Great suffering will fall upon people
Those who suppose themselves indepon-
dent of the frowns of fortune, will realize
the retribution which always follows upon
exces, and even those wholly innocent Of
any completely with fin anical mismanage-
meut or other evil feature of public policy,
will be smltt"n equally with the guilty.
Ih" vast debt, rreuted in great part oy
probigacy and mlsmanagfment,i is a source
OF profound ansie'y 10 the people, who must
pay 1t, aud 10 the capitalist who hold it,
Its Obligations rest upon the security of the
national ability and honor. But to pre-
vent It's growth heyo d the point W here
bankruptcy threatens it with destruction,
the folly and corruptipu wgich now waste
and devour the. wealth of the people mus.
meet with speedy aud condi ~ overthrow.
Congressional AddresS.