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


]. 1sssIkasl. tAAt shs psdIs Pay
cheaper things would become. let TN
/ vnFls IA tras 10 4 certain exteuE
II wsuid Be true IL the natioa WA not de-.
privsd Of It's rights. Itis the right of every
!. nation 20 rssaiaae lie uwn currency Is y .
ration speclal prsrogsative Bns this right
= sew 81 ,ssssrstr iAilfae2f slS1t re eIoie
nation suffers By IL
The amannt Of money nation reqatrss
for ia nse bears as regular and defined
proportiou toits industry as does the nnsqsat
of food II requires bears - ils population !;
and a. d nnalcn wousd be vitality Injured
csuisi e be possible that lt could be c0fnpeli-
Cd actually TO eat mors food than Il reqair.
ed, 20 would it b seriHnslT injured By be-
ing compelled % have moro money ia cifcu-
lafion than u actually needed aud This lat
ter case IL now cur own, and wesre ail noH
severely feeling the pressnrs Of boo mach
money.
Were the Government in possession of
ita rights, Il could regulate the enaeunt sup
ulied 10 the fteceasiliea af sifa nation but
! shis 4 now rendered impossible by tho ae-
lion of che State banls An examination
Of the report on the condition Of the banks,
/ for isG3. viii show thatin the Eastern States
/ there are over two hundred banks which
/ have an aggregate cireuiation IN excess OF
their aggregate ca1sital By ncaFsssene hun
dred psr cent and that in lneay Gases this
circulation IL tso. three four, ard Ia one
instance orer eight kRadrea per ceas., Of their
catital. Nor Is this ali while the circala-
tion Of many banks In Maine, Vermoht,
View York, New Jersey aud Pea.sylsAnia
was largely In exness - thoir capital about
Is. ef January, 1863, tho circulation Of
those States has, dnring the past year, 10.
creased BIZ an aggregate OF millions Of dol
/ lars -tnany Of the baaks already IN exeesa
adding % the inAatIon. And the other
| New England StAtea. with Maryland and
| DelevnFe. have been scarcely less active III
1 initiating our eurreney, ~ the increased
amount ef circulation IN ali Of them will
amply proyc.
Il may Sc claimed that ID many Of these
nAatcs tho cirenlatien Is based upon
State pspeks or FedsgsI bonds, dollar for dol
! lar. Tia a,ay, be partially true, but Il does
4 not alfer the fhft The met is, sAs &ate banks
are foefia4 tsf cehatsg ieifA neif Mcnsyf TO fhs
denahserlesf of che nstieas Gaaaees Prop
arly Hsed, ahs bonds ef - Government are
a. bansaciel 20 9oveFHmeAt as is sradit 70
fhir dealer. But let us kuppass that an
! indIsidaaI wane compelled 10 Sc 70 debt !;
that his creditors then took his noias Of
hana. and % lssei them that they eqnlpesled
| him 10 enersass bis Liabilities, sEd thst With
every FRESH promise 10 pay they ebtasnsd
/ further facilities fnF ihrciHg hlE " eusfeass
hls noiaa ef hnad how l6hg esuld ~ in.
dlsianal fiaak plaeed ezpect - nslnialp h.a
credit yk 9kis e apw the Gosernnep5s
identieai pos.sion. The Government Isssles
boada for what IL neesia The etats beaka
obtain the bonds end issse notes s.p1h flssi,
iimitea ID nn0zni enlsg hy The bonls they
are ahls 20 ehtaiA Ihea1 n0fes lslsiata the
currency. and senA up tbs pxieee efsttilse
tee nseeaalty or more honds, and more
9onds are silceaelaa by mnFa notse, Etsd s
further rise - prices, making yst naoft
honas nseessaFys 70 4 proeeeaa nlzA 81 che
oyIl be net arrested, tie ikfe az thn nstiom
msy be = plalulT fssssssn = IL fsfe az tie
md 7idnaI man.
Is fae isce e1 theta AiFrIli6s Il & la
n ~ GeTz iselsi o t4akE1l ~ enfs
fenl nf the netina nle He.ia,I< s zEiRplsf
81 ilfll
efS re tflenns - 1ia6s 81 fesFsfsI
IS l,tfss l'lt = l't'z s1l Ikpf -
q - {; I' 81 j Hssf
- lIsl - . - &