Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1864-04-12
''coLD, SEVENTY"
No more Paper Money Issues, bup
Taxation.
tFromthe Round Table. April 81

[Fromthe Round Table. April ~
"Gold, 7O.n This is an ominously high
quotation. 1t means that the greenback
dollar Is worth something less than fifty
nine cents of real money-that prices of all
kinds are gravitating to that standard-and
that the public confidence In the national
currency Is quietly but surely waning
For this alarming state of the finances
there Is but one remedy, which Is to stop
further issues OF paper money, and tax.
"Gold, 70.n This is because our incon-
vertible paper eiIrrency Is redundant. 1t
has been unheaithily swollen from three
hundred millions, the amount afloat previ-
Gus to the war, to somewhere in the neigh
borhood of eight hundred millions. To get
back to normal state of the finances these
enormous over-issues must be reduced, and
internal taxes to the extent of three hum
dred millions per annum levied. Expan-
sion has caused the trouble; contraction
alone can save it. Will Congress please to
put stop to further issues Of paper
and taxi
"Gold, TO-" Speculation is rampant. All
who have money are fevered, and mad for
great gains. No one has faith in the gov
ernment currency, and hence every one is
anxious to increase the quantity to make
up for the loss of inherent value. The
sharp, the enterprising, the inscriptions,
make great fortunes, while the mass Of the
working population Is impoverished. The
remedy is for the government to stop fur
ther issues of paper money, and tax.
"Gold, TO-" Extravaganza pervades ev-
cry department of society. In the midst
of a war wastefully lavish of human life,
when every suggestion of national feeling
should compel our people to soberness and
humility, revel holds high court, and pleas
ure toys with the hours The remedy for
all this is the stoppage of further paper
money issues, and pitiless taxation.
''Gold, TO-" This adds enormously to our
national burdens. The debt we are con-
tracting in deprecated paper must be paid
some day in hard coin-gold dollar for
greenback dollar-a hundred cents for fifty
nine. This is wastetul and ridiculous ex-
cess-a tax placed upon posterity at once
needless and cruel. To reduce the burdens
of ourselves and our children, Secretary
Chase must withdraw his issues of paper
money, and Congress must tax.
"Gold, TO-" 1t will not do any permanent
good for government to sell the gold in its
treasury in order to artifically cheaper its
prices. That is mere makeshift; wrong
in principle, and which will be imperative
in practice. The only effect will be to give
gold to people who want it at less than its
a reduction of paper money issues, and
heavy taxation.
''Gold, TO-" And no wonder with ma
tional banking scheme in operation which
is in fact process for converting debt into
currency. The bill shortly to be submitted
to Congress, taxing out of existence the
issues of the State banks will help the ma
tional currency somewhat; but if the ma
tional banks supply the vacuum thus created,
by additional issues, the country will be nc
better of, while innocent people will suffer
We must stop the issue of paper money, and
tax. E
"Gold, TO-" Secretary Chase, it is report
ed, is to be in New York this week. Nc
matter what plausible scheme he may have
to propose to our leading money men, he
must be made to understand distinctly that
all over the North, and In all classes of So
ciety, there Is unanimous demand for the
stoppage Of furtherpap money issues, and
heavier taxation.