New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-11-16
CURRENCY AND FINA,CE.

! II is greatly desirable that our Currency
should be equal, dollar Cor dollar, 10 Specie, ~
also that our Treasury receipts from taxation
should he equal to our current expenditures, and
! that every debt Of the Government should he
promptly paid in coin OF its equivalent. In
short, there are many things that we would ali
| be glad TO have, Lut VIC amt, and there r The
end Of It. So long a. We remain involved in d
great and terrible Nsr with our armed fore
numbered by hundreds OF thousands, and
devastation aud waste running rot ON every
side, we can't pay as we 90, and must run IN
debt: and-since We cannot find willing lenders
80 fust as the Government must borrow 10 pay
IL Way--a deprecated Currency IL inevitable.
Since we must resort 10 forced loans, il i the
least Of practicable evils tho; The whole People
should be the lenders, as they are made BY the
Legal Tender Act We might return specially
to % Specie Currency by the simple eXpedia n. Of
disbanding our armies, stopping the War, and
thus bringing our National expenditures within
our income; but that Is just what Ne will not
do; hence Currency depreciation. Tho issue
and circulation OF grcenbacks are not the cause
but consequence Of our temporary National
embaIrass ment--we had almost said msol-
vency-they are evils which We choose ne
people to endure rather than succumb 10 the
Rebellion. England did 30 before US, IN her
long Wars with Napoleon; Austria has long
been situated as We now are in respect 20 Cur
n.tl D. DO. IL.
better, she will; and 50 shall we. That q the
whole story.
TIE Commercial Adc,rii,sr persistently con.
trovcrts all this in the spirit of the bourbon
Princess who wondered why the poor didn't cat
dry, coarse bread rather than st0rc ~ death.
1t insists on regarding our Currency debasencnt
a. the cause rather than a. consequence OF our
Financial endorsements, In is las, Issue,
the Financial editor thus discourses;
"It Is generally conceded that tie eIisinc currency
system has brought upon the country serious enbarrg.r
uent to both its oouerce aud iis public nanoe, aud
10 = hence concioped that some steps will b. taken Tor
mod tying esrtlns measures There certain ind.l
mite deGs a1Oat 10 the ohsC ter Of the
ncssurei supposed ~ be more lees sanctioned by on
cia inlonnauon ]! " supposed uat the L ,eJ tender
issues viii 10 cnrailed that taxation viii be largely
incressed; that gold 3tnR iOans viii be discarded;
and that ~ prevent still further reduction In the Gus
receipts. endangerng the basis Of the gold in.
,ercrt SON. OF the higher duties on imports v III
We moderated Legislation OF this character ~
proved almost generally by ttoss vio have
b.. he wsrnest defenders VI the past 1n,b.
eip eaSarts o. ihs Governments but there 10 no gene
raj sppl ehenson that the real difficulty lice rstirr ia
tie Of RE currency than Ia thf ssasnys Of rs
i.s-s fact which. apparently. IL viii require months
more of DISASTROUS experience 10 make far under
-tofJ radical cufe Of the existing syiiy
he NJ Iaxi mi II
eau amount Of specie that tho cause 81 all
our dsrsngement and the extent Of lite Issues tas lees
W do With the degree Of ~ depreciation than IL gene
rally supposed The fact Of the ourreocy beps ,rr.
deeInsbls in gold places ~ vass on par with ia, Of
other forms 81 Government indebtedness and % sbovp
in our editorial columns 10 deprsestss in value u bro.
portion - stasS sesssia crowded upsa the nsstsl
II y stessfsss unreasonable 70 expect Aay matssal -
probation q NJ valss II leesl tsndsss hon nrai>sA
lsedinG - tAsss s1eeA TAs Ssvssry q - lad
1ssss~v h ssshsstfy ~ ~ ssrfsrNs ~ ~ tkt ~