Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-05-28
Notification

The S. +. Alta, true to the instincts which
contributed to defeat the bill for the repeal of
the Specific Contract law of California, eau.
tious the public against anticipating a rapid
decline in gold in consequence Of the recent
victories Of cur armies. 1t argues that the
legal tender notes, being but "a temporary
expod;cnt to meet an emergency" it is folly
to presume that they will ever be worth any,
thing like their par value in the money mar.
ket. We are at a loss to perceive the point
of such logic. 1t cannot be denied that as
long as the war continues the value Of paper
currency will greatly depend upon its prepon-
dsrencc over the metallic currency and sub
.icct to the secondary influence of triumplls or
reverses to our cause; but it is absurd to ar
que that the redemption of these notes in
twenty years has an effect to drprcss their
value. l! the Government and its pledged
faith arc worth anything, as these spectators
would seem to doubt, the equilibrium between
paper and gold will gradual be restored as
he former is Withdrawn from circulation. 1t
is only the suspense and donbt attending the
progress If the war of still further drains
upon the Treasury, which prevents paper from
speedily becoming the equal of gold and the
accepted currency Of the whole country. 1t
unfortunately happens that al tho leading
papers in California belong 10 the moneyed
side Of any controversy which may arise, and
We are not. therefore, surprised that Capital
should be the mighty censor to whose potent
sway they acknowledge obedience in this, as
in ether matters. In the contest upon the
repeal of the Special Contract law, before the
California Iegislltu last winter, all the in
surmountablc arguments urged in its favor,
supported by the petitions Of thousands upon
thousands of loyal citizens, were crushed by
the weight of a few p~lc,horic money bags.
They controlled the lawgivcr, the press, and
in certain quarter, public opinion, and Califor-
MIA to-day stands in the light Of multiplying
the laws of the Governmental the hour Of her
sorcst distress. \ late number of the n. Y.
Doy-Book, the outspokcn organ of secession
in the East, contains an article devoted to this
special subject. and it chuckles .xultantly
over the fact that California and Oregon, SO
far as this act is concerned, at least, have no
sympathy with the great Gauss of Republican
liberty. We have read Of the moncy-changcrs
taking possession of sacred places, but none
would have dreamed a few years ago that
many of the proftssedly patriotic men who
now speculate upon the lifc-b!ood Of our coun-
try could be brought to DO do nm act which
really amounts to nullilicatica. BY the aid Of
corrupt Judicial machinery, this notification
law controls the currency the currency upon
this coast, and as long as this is true we need
not be surprised tina. tho bankers organs
should endeavor to dampen the ardor attend
ing Union victories. to prevent a local change
in currency until it may sui. tho convenience
of their masters. When the day of reckon
ing comes, lctsuch men, and the presses which
trucklc to their avaricious schemes b rcmcm-
bered, and receive the just scotn of every we'll
wishcr of the Government.
-+-----.
To- AS there is not time before election to
re-assrmblc tho democratic" convention,
wc have apw intcd ourself n committee TO
draft a supplemental resolution, required by
".thc exigencies Of the times Our Dem
%ocra'ic' friends can cut it out and paste it in
their hats: