Brownlow's Knoxville Whig, and rebel ventilator. [volume] (Knoxville, Tenn.) 1863-1866, 1864-05-28


The cause Of the present high prices ia
too much money. War in itself is not the
cause, nor is il that paper money is worth
less than gold nor that the people have no
confidence in the Governments promises TO
pay; the great evil is too much money.
Spain during period of profound peace,
accumulated vast treasures in gold from her
! American possessions, and having expert
enced crisis such as we arc now enduring,
finally sunk from first to q third-class
Power under the inevitable results of n pie
thora of CON. Before the panic Of 1887,
during the period of peace, we experienced
an unusual expanse Of paper money, which
brought with il an inevitable rise in prices.
Soon after gold began to pour in from Cali
lornia, the banks began to secure il and is
sue paper upon it, and the same expansion,
with corresponding rise Of prices followed
And now Government is compelled to be
customer to the nation to the extent of mill
lions where it before spent hundreds, and
this producing an increase Of money, causes
also an inevitable rise in prices.
But the Government only increases the
circulation of the country by the amount
of -. f..ih ia.nos IN rntoo ,nd honds If
u u.oro to ooIIoo, IN toxos ooch do,, orouoh
10 NOV, lie doil,, oynonscs II would bc hnt
circulating with one hand what il received
with the other, without increasing the
amount in circulation and then, unless
from other causes the imitation Of the
circulation was increased, lt-woud com
';L :. ,i' N,,l;,,,. ,,,,.oIa,, ,,.,,,ld
,a ,,,oH u,at hS ,,,,a '',o ,o,.Ia ~, ,,,,, ,,''
plro',.. .i;, ',,1l -, e.; u,;o
n1 ,II oa,.o;m a,.,e,,t
WI" y ~ ~ -" " '''',, Ia
I,ri,,r..i,to t.. ,ri',I,t - ro,.,,,.
n,t;on ~ ro,r,Iato ;,s ,,,,., n,,rro,,o,.. !,
nations snccioI nrorogatiyo Rntihie rioht
;s now so ,o,.orol,. 10 f,;n,,od tLot tl,o ,rboIo
nation suffcrs nv n
The amount Of money a nation REQUIRES
for it's usc bears rs REGULAR and defined a
nronorton toit, industry as does the amount
of food it REQUIRES bears TO IFS population
and rs nation would he vitaly Injured
could if be possible that il could be compell
cd actually to eat more food than it reduir.
ad so would il he seriouslv iniured bv he
mo comncllcd to have moro money in circu.
lation than il actually needed and this Inf.
ter case Is now our own and we are all now
severely feeling the pressure Of too much
money
Wcrc tho Government in nossosson of
it's RIGHTS If could rerulate the amount sun.
plied TO the necessities of the nation; but
his is now rendered impossible by the ac.
lion of the State hanks An examination
of tbc rrnort on the condition of thc hanks
f,r sea will show that in the Eostcrn States
there are over two hundred banks which
have an aggregate circulation in excess of
their aocrrrate capital bv nearly one hun.
dred nor cent and that in many cases This
IL two. three four and in one
instance o,,ey e;ott Lvu6re1 ner cent of tboir
roni,o, Nov Is this ,U while tbe circulo-
t;on of ,nanv bonl,s in Maine Vermont
Now yort Naw Jeroev and pnnnsylvenia
was ,,rgeIy in eyccss of tbeir conitaI obout
1st nf Innrar,. Ioe9 tho cirdnIation Of
tbose st,tcs has dur;ng tho mast vear in.
o,,oa.,J ~. ,,.,,nont7 or ,,iII;on, ~ dni
lars man, NJ tho bonl,s olrn,d,, in oxco.s
.Jd;,n ~ thn ire,tion And tho n,bor
~ T,,,a,,I Statos ,,.;,h Mor,.Iard onJ .
no,omarS haro boon so,rco1v losS active in
oH0 ,,s',; ,".0 o,,,uno,. Wuu "' .ho ;noroosad
,nn"."s ou, ;no',i"4;o uto vi nS .hon, Vii
'nI", "m,,i,, nuora Un - '''' 80 ''' v '''' ''''
"IP'2 7 3 p.J ha .,oirod ,hot n n,on, oc ,hoso
w ] a;n..ia,: - - :: ~ tsJ u ~
S,",o sta, e W. T ToJ"rnI honds dn,iou % ,rdo u'
o,a'o 1v"eNs ol ouera oU,i'.s, uotla, io' do'
,'r n's ",'s oe R% E"'%"y .'ae, Suv ~ uoLS
NV a'.Ji VI. ','o., n1 tt Lew y ' '".o ,aahs
Ho "oo""y ,"s ,y"',y ,t e"o E''" , "'o"'y d. "'
odo"yemen, " '"e "",,o" r"um.es, 'oI-
er'i us.a ~. oo'u, y. w.. uV,v''u,ai i arc H
~ oe''snca. " "'''sn. 80 70 .ie'' ,r. ~
= ln.r aea,er. Du. &c. ua S"PPoSo .'"I I.t. an