The Democratic press. (Eaton, Preble County, Ohio) 1860-1865, 1864-07-07
A WAR PAI h On TIE RE-
sUMPfI1 OF GOLD
,ft IN Gun GNCY. &
From the Chidp est (war Paper.)l
SILVER AsPg cgessscE,

From the Chicps sst (war Paper.)l
silver Lep q cuaAsscYss 4.
Gold caErgps lcAsa kabarea ans
fifty, oria other words, paper money depre
ciated to forty cents on the dollar. Aftal
gold reached two hundred, and after paper
money ceased to bsiworth more thau fft,
cents on the dollar, Il was the duty Of ever,
man having charge ofpublic interests to Sc
direct the national policy as to effect an i'm
mediate return to specie payments. That i.
The only remedy for present evils No egis
lation can make paper money worth any
more than man can getfor it; and if ht
can get orly ten ceuts on the dollar for it
then it is worth only that amount and no
thing more. There are SIX hundred and fifty
millions of Treasury notes in circulation;
there are oneIthrd as much of b .nk notes ia
circulation; as the Treasury notes are lega
tender, and the bank notes may de redeemed
in them both classes Of paper have the same
| merchantable value
| The Government tried, the other day, to
obtain loan Of seventy millions of green
backs, asking emily discount Of four pei
cent for bonds bearing interest 1t allied
in getting that loan. Only about half the
amount was obtained. AS long as the Gov
ernment undertakes to pay its own way with
paper money worth only forty cents on the
dollar the Cove rnment is just paying one
hundred and fifty per cent preminm on all
its purchases. FIR every dollars worth oil
flour it buys, it pays two dollars and fifty
cents; because the Government will have to
pay at some time, the full ta?e value OF its
issue -.
We tredict thai on or before the first day
of January next the actual currency of the
country in all commercial transactions will
be in geld and silver. Treasury notes will be
discarded and all contracts in BUSINESS at
fairs will be upon gold bass Treasury
notes are legal tender it is true, and T!
answer all purposes Of paying debts; thC de
probation of paper money is greatly to the
advantage OF the debtor and to the loss oi
the creditor; and every cent taken from the
value of legal tenders is a cent which is even
tually to come out Of the creditors pocket.
The mora mou, y there is due man the great
er will be his loss and that loss is now newt
able. No doctoring or legislating can give a
value 70 pensrxhlcbif aSes; not Rasse nd
The sooner the ctash elEfssi aseome it must
the sooner It will he over, and the busines.
of the country restored to proper basis.
The return to specie payments isl longe,
a matter of choice; it must follow the rejec
ton of paper money When parcr none,
will not buy bread, the gold must come forth
Flour to-day commands a less price in polt
than t did in 1861. Every article of domcs
tic use, Good, clothing, (excCpt cotton) ana
fuel, can really be bought today fer less
money in gold than it could be bought three
years ago.
A return to specie payments will soor
have the effect of stopping impIrtati1us o.
foreign manufactures, and esta lish an i'm
portation of gold. Gold will go wherever
it can purchase tie greatest amount
Silver is more valued in certain of the orr
entail nations. that is, it is used exclusively
asa cola there; hundred dollars in silver
will buy more there than hunnned dollars
in gold, and the consequence is that the
world tor centuries has been sending its
silver to those nations, and none Of it's gold
Happy peepie-they have never seen wild
cat nor greenbackI Coin will always, in
spite of human legislature, find its way TO
those parts of the world where it is of the
most value. american gold is at premium
in France. Wh)2 Because American gold
only will answer the purpose ofthe govern
ment in paying the expenses of the Mexican
service. Our gold, previous to this demand
was below the French gold coin in France,
and is now in all parts Of Europe Let us
retarn to specie payments; letus create the
demand and the necessity for gold, and j,
will flow in naturally, regularly and speedily.
The stock on hand being comparatively very
small, we will have to pay premium for it;
that is, we have to sell products cheaper
and our labor must be rendered for less, bu'
then the gold will be here and every man
will obtain ajust and an honest price for
his labor and his products
What is the Government to do for gold ia
carry on tho Governmedt1 The Govern
ment must do just what the people individu
ally must do,--the best they can. What is
he Government to do with paper money
worth ten cents on tbe6ollar? Let the Gov
eminent offer its bondS at fifty years fol
Or enbacls, with three per cent idterest pay
able insuch fund ss may be legal at the ime
| If holders will not take the bonds, let then
keep the rotes; let the Government hence
forth require all payments to be made ir
gold, and let it pay out nothing but gold
The "crash" that will follow will not las
thirty days. Thousands will be ruined, bu
will theybe any better offby the ruin of th,
Government in vain offer to uphold th'
paper money! Let the crash come now
there is no useiu postroning an inevitable
calamity, when by postponlng it. tbe Gov
eminent is daily gettidg deeper and deeper
In debt Why add five millions a day tc
the debt by continuing to deal in pape
money, when the same value can be obtain
ed for one million by return to specie pay
mentsp
| ..