Washington telegraph., 1864-11-16

L
in the world, fools have the least sense"
We feel very much like repeating the observa-
ton when we look around and see the reckless
disregard vi the Confederate currency, which
pervades I'll class2s. Gradually, beginning at
the Rio Grande and spreading eastward, a
moral and political canker has taken hold OF
the public mind Gold, ." ths root of all evil, -
seems likely to choke up and destroy the
growth of true patriotism in the hearts of many
of our people Formerly it matter vi
| shame and those who felt it refused 70 ayew
the sentiments but NOW it is beginning to be-
como too sonmsp to hear thom say, that they
are willing to sell for gold and silver, or even
for good paper, but not for Confederate money
Others whose patriotism is more lofty do not
refuse take it, but unwittingly dspreciats its
value by the vasteful and extrsvaeant use of
it, in the qualification of whIms and sensual in
duigences, as if il were likely to die en- their
hands and becems vaueess as the leaves of
autumn.
We do net at all feel that this is going to dc
strsy the country. We have frmcr assurance
of our ultimate success than could be subject
to tho chances of being dashed by the selfish
impulses of spectators and money dealers OF
even the temporary promptings of avariss aud
greed ir the hearts of the massts of tho people
at homo. The contest for independence has
gone toe far for retraction. A deep-sssted pa
triotism has settled dewz in the great heart Of
all tue people. This may be sinncd against AZ
times, and is most grievoasly but it is there
and will assert itself continually in other ways
until the victory is won. Thank God Our
soldiers have the most of 1t, and upsn them our
hopes surely rsst. Tho war will progress with
all its vigor, notwithstanding that Confederate
money should fsll TO the value of ths old Con
tincntal scrip
Sill the evils ef this ssns.less depreciation
and contcmp: Of our currency are manifold and
will lead to effects upon tksse who practice it,
Of a most depiorable natsre. For their own
sakes va would again, rs we have before, rtler
some words Of rculanstrauca. Be assured you
will need all the Confederate money yau can
get and vii! reproach yo.rsslf a. sirnpleton
for refusing sell for it at high prices, when
you Ugh: have done so, and for having squkn-
dcred it wastcfuIly when it vas il your possos-
sion.
Let us viaw it calmly in the light of rsason
The exigencios Of tLe government have COM
pslled ii 10 tax It's currency, for the purpose Of
reducing tho volume of tho circulating medium
This is for tbs benefit really Of every holder OF
tbs no:as. It's ultimate eject is to establish
the credit OF tsc government, and make lis
funded debt more sccure. The money not ab-
solutely required for use may be funded in gov
eminent securities, and viii be serhaps NOR.
safely invested than in any other species Of
property The dimiaUton Of slave ferce will
make landed property Of slow sale for many
years, and slaves thcmselye, are too high, and
withal too uncertain property for permanent
investments. 1t is to be carefully observed in
this connection, that ii was the redundant cir
culaton that was attacked by the late revenue
laws, not the funded debt Tie same reasons
do not apply 0 thar, aud the government has
no intention beyond necessary taxation, Of bat
i1g sue dollar OF the just dues OF ths holder Of
any bond or interest-bsaung note, not forming
part of the circulating medium Of the country
These are rendered mora secure by tho diluiru-
ton OF tie currency. The government is So
Elr disembarrassed, and can more readily. in the
advent Of pnaee, appropriate It's vast resources.
10 meet the interest on ;he funded debt
II is sometimes said rather too fippantly that
- they will r-puliats." Who are Msy2 They
mean you and l and Your ncigh5or who alsct
Representatives TO Congress, and vote for Pres
ident. Are Won willing to repudiate the Gov
ernmext securities, negotiated largely into for
eign hands for tho purpose Of securing our In
dependence! DO you prefer leaving to Posteri-
ty legacy of disgrace, to burtkenis. it with a
tax for an honorable debt incurred in the>sur
chase of Iibcrty7> If So, they will rcpudiate u
course. If not, Reputation IS BHgaboo! The
tax on the currency does not ut nil affect the
funded debt, or if at all, it is beneficially Get
Government bonds then, with the most entye
cenfdencs. You will see the nm. YOU wiffbe
glad to have them.
As you will also see the time, and Ind before
long, when you viii 80 borrowing Confederate
money-you Who throw it about so loosely
You complain that the currency act has not in
creased the value of money-that the new issue
is but little better than the old Wait a little
What would you think of the sick man who
had taken calomel for dernnged liver, who
should 90 complaining around an hour after
wards that it had done him good or, when
its operation began, fly into passion with his
physician because he for the time felt worse
The first operation of the csrrency act was
of course. shock to the public credit, and
tended to deprcciate the old currency That
was unavoidable. But the currency is now be-
ing purged. and the beneficial effects are to be
felt hereafter. The old issue will soon be alb
9orbed-wiped ont of existence. These who
use 1t wisely, in bonds to pay taxes, or in depos
1t for new issue, will be none the worse for the
change. Those who threw it away, or hold up
property which might have procured it, will
heartily regret their Hans ef foresight
For money must, of necessity be scarce and
taxes must. of necessity, be paid. After the
old issue is absorbed, there will he no currency
but the new, and the issue of that is limited
Depend upon it, you will often need it when it
cannot be had. The next best thing for YOU
Will be certificates of deposit or bonds of the
government. These old iszues will now pro-
cure. 1t must follow that the value Of the cur
rency will be enhanced when taxes come 10 be
PAID because 1t must be had, and will be hard
Driras will fol