Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-03-26
,,.mor,,,z,ux Currency.


In +. r.~ant .r,iele. We pointed out the national
dis,hvants ges resulting from the continued iunA-
ion of tie cgrfeucy and en5eavoTed 10 show
,h.t 20 far from beng justified by the var, TINS
of it-elf VAS sufficient reason Tor clinR'ng more
,onscisu.lv than ever 20 system oil hnSnce Win
a specie basis The views there presented nave
been - favoraby reces ed, a 10 justify the hope
that some of the former "avoeite- OF toe paper
money theory have opened their ewes 70 IT. inev-
;,.hle ,sndencv. and are not unwilling 10 retrace
re- s,e,s This has encouraged e 70 pursue
-. ,-.in If thought, Eith some reflections upon
,he eefsct Of the inhaion in deUoratzing individ-
uAl character
Wben a few individuals. or a gle community,
embark in apy mad enterprise. or engage IN a
wild scheme OF speculation. sober people soont
-, a., infected With the same disease. look on
- xorder or ti.s. and nse DULY the more eau
-, aud prndence ia the management OF their 4
oun sfF,irs "a A. % avoid, A. Gar possible. all /
,,ne,.tion y it'll the inevitable result of such III
zane folly.
R.t the imitation OF the national currency leaves /
no one outside of its Influence AL property /
i s,d all incomes are measured by standard /
f xbich i constantly expanding: il they change
with H. there il the excitement OF rapid appar-
snt increase of wealth; ii they remain stationary
for any reason there is constant appeal 20 their
uossessor 70 join the general movement. Sober
| naonle micht be willing 20 let well enough alone:
hut 70 be stationary Is to be left behind. and few
| can endure such complete isOariOn 10 saw no.
thing Of the difficulty of maintaining secure
70, thold amid the rushing crowd.
! One of our contemporaries appears 20 have
been 40 well pleased with the picture w drew the
other day OF the habits OF Industry and economy
which the retention of a specie basis during the
prosecution the would have maintained and
promoted among the people, that he has pub
lshed several articles urging his readers TO make
il real. even under the present inhition The
object il laudabe but the advice is wasted in
asmuch A. il totally ignores the relations be-
tween cause and effect. Industry aud economy
cannot he taught like the dead languages in
ct-sic school: and il they coul.i, the community
are TOO iar .iIecei With the fever to attend upon
such tuition The denrss aud extravagsnre
conipl ,Inei Of. can only he removed by taking
away the cause which las prniured these new
{ table results To cOmweud these virtues in me
popular practice while the iuhtiion continues, Is
= like urging sobtiety UPON drnukard without re
moving the bottle from his iips
a The effect of this Speculative mania is utterly
demoralizing We are fast becoming nation
of gamblers The reckessnesS ~ contagious
o and the temptation almost irresistible. While
nominal values are doubling rapidly. anc
e colossal fortunes piling up in such dazzling pro
q portions not only il economy discouraged. as w
% proved in our former essay. but the slow gains
II industry are despised. and the wages earned
Z, however augmented through the scarcity OF Ia
u aborers seem patry by the side of those grhnde
10 Accommodations which are obtained without tn
a drudgery of toll Look At the number OF thos
lie who are abandoning positions which were con
re sidered lucrative for the sake OF embarklng vi
- trammeled in the mad pursuit OF these giItterln
~ prizes. salary, however large. IS no induce
10 ment to aspiring youth or even To aspiring man
Is hood What are the few hundreds OF oil year
'o savings when thousands may be gained III "A
RI hour? How pitiful seems a moderate fixed IN
le GOMEZ How ignoble hrens's wages. earne
ne by straining muscles, or a tasked mind. whe
en- fortune is showerng such plentiful gifts upc
10 those who Law aside the implements OF lnduStT
iiu and follow the goddess with garlands and song
ere How few Withstand these tempting brlbe'
ses Look around aud count the untainted 20 IN
eel the professions and number those who are pio'
en- ding the old round, content with their tees Loo
Wy into Offices, contingencies, banking room
shops and fields We miss more than the fac
absent at the camp Orlf we do not miss ther
we find them in other occupations now All "A
gone mad in a general scramble after tins
he titious gold. Its not so much covetous desl
w. for money a mania tor easely-wOu veal
al which affects the popular mind The operate
ne are not greedy the miser - after grown
he heard: but they scatter their gains with lavi
4. hand because thew are unused to such abundan'
ne and believe the supply to be inexhaustible Sol
are doubtless perilng even their honor to oots
the means to embark in this pursuit lie Is VI
less to mourn that we not wiser than
choose a system productive OF such fearful dl
}. temper The practical question relates to
'tee means of cure
rdy Have we the courage 10 go backE van
cent will 90 back too As the currency shrinks. "a
ext will shrink shrines which were only guided v
orm be forsaken; bowers that seemed 20 be decora
the for a perpetual summer will grow leaiess a
ION bear at the first touch of this frosty hand fr
ich. that looked ripe and lucious as We piucked
tain will turn To ashes on the lip. We shall le'
ards romance and cone u stern realities. he wO
the man must resume his toll the student rehil
that lamp; the farmer turn again to his pillow.
in dollars will come in slowly. and purses will
hand lank that lately swelle1 with such ample prom
lwal Ii will he "A trying step, alter such giorl
un dreams TO come back 10 toilSOme Drosac
: of What then2 Shall We hug the deluSion long
Shall we blow the hubble little longer
like thinner? What l. the advantage oi such dec
rattle when We are only lensthening the weary r
: the over which we must one day return, and prep
pass Ips fresh sorrow Tor the Eia disaster Ia il
both time To 70 back? II use more emphasis {
rern- we did We also speak with more courage +
nder and there. over the land. there are answ ei
war voices from true men who have either seen
For folly of this course from the beginning, or !
carry discov cred the mockerv of those promises "
we have deceived the nation. Now IL the time
sixty discard fiction and cling TO the truth =
journal OF Commerce.
asset "