The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1864-06-15
Gold...Government Bonds.

No cne pretends TO doubt that the high price
Of gold II traeeable directly ie an inflated cur
reucy. The same cause, Of course, initiates the
pr;ce Of an. other articles. Previous TO the
war there was in the loyal States. bank notes
to the exteuk Of us 100000. Now the paper
currency in the same States i 775,OOOoo
or this i.ersass 4s7s. 100000 has been made
by the Governmens. This Wa not hA'e'
Of choice. but OF necessity, the sale OF oono'
and the revenue not being equal to the war *
,;era;tnrea. ( Because Of the continued heavy
expenses, the delay on the part OF Congress IN
nas.ng the new tax bill, and the bacAwarohess
OF the people in purchasing bonds Mr ohAse
has be.n compelled, much against MS 0""
wishes, q We know, 70 continue to issus pap
money. And the point has not yes 0sen
reached when il can be said there are to De no
more issues. No wonder, therefore, that Goid
4 high: no wonder that disloyal persons are
able to make . handle Of this, to force eold
,till higher; and no wonder that's speculative
mania prevails
ManifestIy, therefore the only way to strike
the root Of the evil. is 70 reduce the volume OF
currency. How can this be done, Soon Inc
tax bill will be in operation. Th1h VIII he'p
materially; and the machinery VIII be moved
try law, and will reach every one having any
thing to b taxed, whether he Will or not
About this, therefore, no appeal to PATRIOTISM
or liberality, or economy, is necessary
But the revenue will not suffice SO long
"a the war continues, the Government must
borrow some portion Of the money 1t spends.
To meet this requirement bonds. bearing 0 per
cent. interest, payable in gold, have been pro-
yided. These are now on the market IL the
people would take these as they are able 10 take
them. Mr.. Chase would have the means to pay
current expenses. and also be able to contract
the currency. This contraction would tend to
check extraysgance, would reduce foreign im-
ports put down the price Of gold check specu-
lations, and reduce the price OF all necessaiies'
and luxuries, too. The sure way. then to re-
move the gigantic evil which the ladies are
merely nibbling at. is to loan our spare money
to the Government
But are the Government bonLs safe! That
is for the people to say. The debt u our own
and if the Government stands, the debt will De
paid. Looking at it in this light people have
very cold patriotism y no keep their money in
bank, while it is necessary to sustain the Govern
rnent Besides. fthis debt is not good, what
is paper money worth? and what is even life
worth to men and women who desire to leave a
country N An inheritanc to their children?
Having thus pointed out the way in which
the price Of gold can be put down. it only re-
mains to suggest to the ladies, what they can
DO in this matter: Practice general economy.
Buy nothing. either foreign or domestic that
may DO dispensed with. and whatever spare
money you have on hand. and all you can save,
loan it to your Government. The bonds now
on the market are selling at the rate of 81
100000 peg day. \ general movement on the
part Of the people who have q surplus of $50
and upward. would increase the sales to So,
100000 a day This would bring down the
gold kite astonshipgly fast, and would keep
it down. Besides, you would have something
laid up for rainy day; and something, too,
that when this wicked rebellion is suppressed
as it surely will be-and there will be no one
to question the credit Of our Government II
will be pleasant to look upon.