Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1864-01-19

az 1. t.E, . 5Scfni5o tho ultimate puWor5 o.
-, efa.nrnr - reFcuo tho pablo satety.--
They should rTonirty. and with understanding
iirrncss. send out an cjiet of unqualified de-
nunciation. 1t should command that every
dollar OF the existing currency lie recalled for
I caacelintign by the frat day Of April. and
.lio;.h Substitutes therefor IN entire new eur
rancy. reduced ia nominal amount, but
Which vii! IaY; an Increased and cnmpcilsa>
ting value.
| Tlii PIN H. ! ho!ic:e the suggested q n
| gentleman from South Carolina by the nalna
| Of Lyle, who proposed that the present cur
rcncy should be recalled b. q given time !;
that a new issue, limited to a maxiinurn OF
| $3.50 900 NOO, shuuld be prepared; thar al!
holders Of the present currency should be
compelled to report their amount on hand for
capccllat0n, and should he paid one filth OF
ta'.t au.1uat in this rev currency, the residue
! il To bonds vi Tie government az twenty
year: ai:t ;ha5 al Of the present curTcacy.
uoe brought in by the appointed time. should
be absolutely forfeited and corfscatrd.
The scheme of Maio Tcclrman, talented
! P3lc, is based in the main upon Mr.. Lyle :
! lsian, except that he strikes from IL the fec
tufe OF giving bonds for the surplus OF cur
reGcY beyond the cue-ffth substituted by the
new, Issues. He assumes tina. this one sixth
! Of ,f.e new currency will haro greater in
trinsc value, and will purchase more proper
| ty, than all the present currency thus deliv-
cred up, and hence he denies the justice OF
allowing bonds for the reeidIs.
| II NAV be remarked upon this class of rem
edy for tho redundant currency. that 1t is
prompt in lis action. direct in is aim, and
| Eslis q: y single blow al. evil that, unchecked.
vii, assuredly occrwhcim our national exist
erce. Ia few words, il does the 'cork
Tbs, question for our public men is, whether
: l'.r c,is1gency is thus urgent u demand such
ahruE5 aUl violent action. Is tho national
| Life 5, iDlperilcd as to Justify resort to this
ha.sh and extreme measure CT preservation.
s.!Salus pepaH Suprema IT," Is Il maxim 10
I VII .ch cys.Y patriot heart will thro5 assent,
because j i u first instinct Of lie itself. Ii
! this ii:I. necessity DC upon the cauutry no
sac.iaep, Of Individuals or Of classes must ne
! alhrvcd to uLstruct the path ways Of national
94sety.
'fno sesori class of r2m2di. for this fatal
| rcl-ndMcy IL, t. draw this .urp!us currency
! baun .Ilto TIC p0sse.siUn Of the government,
! ~ ia, heaviest s}s:"m of tuSatiDn ever CT
ac:ad II anY people IN The history of the
world. l. is rroposci to withdraw from cir
snlntion a1rus Ave hundred millions, under l.
s;:g,r Tax u. To Feet this, will require
| ~ ati,yAiv1 TN tax of it leas. ten per cent. on
tha aSacsSr1 vaue Of oil proper:y-rca!, person.
! 81 and mixci-within the Cc"icJerhte States.
Bare our f,uhii, ,hsu considered the pract!-
| al operation OF such Il Ii assure Tasrc Will
I BE hy The ir-t Of February aboutS1UO, Ode. $50
I ., Genie ;cGa.c currcncy in circulation. Is
| this incncv held by tic people OF the country
I IN the saiic rSsio that the property Of the
ccunrq is held On the contrary, has NO:
rhis money accumulated in large masses in
! Ito hands If Jew traders, OF extortiOners and
IT large spectators, who own no property,
| md hold their money in readiness for new
REGULATIONS. The land owners and the
orooer:y owners are not the money
! holders CT tie country. To exact one
zenith Of the assessed value of Their
estates in money ia to throw f9c tenths Of
| he property u the country ON the market for
sale to raise the tax money. They live
upun their farms, and from agriculture derive
n suprrrt for their families and enoush to meet
ordinary expences. Impose such tax. and il
can be met only by sale Of their land, or u
| large portion thereof.
| And how will such 2 measure act upon men
! n CITIES, and upon mon everywhere, whose
aulv property is I. h ME to shelter their Iani
| lies, and who earn support by. sa!arles AMI
personal scEy!ae. or upon income derived from
.,ocss-tho fruits OF past industry. The As
ses-cl value ot their city home is (say) 500 oOD
their inc0mc from salary or vested stocks j.
| bare support. Exact Il rex Of - 900, I'M.
how can it Je paid They have 10 money on
hand. Their homes must DO pus upon tho
Inarkct-thcir stocks must hc placed with the
broker There is H. alternative.
! Can { :. most Ecartless tE3"rist n the pub
! lie c"u1c.,7 ri The nation look upon the rrAc>
! s;c;Ll result Of such - tax, AMI not recall N
! u,rror from the desO!nti0ns ri the policy Lo;
| lim remcni,eT that the purpose III the tax l.
| ., rcGuGc Lc !aiai rccuiicGnCy n The laLt.--
- iiort % rciac:ug tl,s public debt is Incl
! icrjiai---t is not :rcn an Gy0Hci purpose The
d,it.U al al revolutions il necessarily debt 81
| ilne--h debt IF r0atcrity. No man is 50 intu
ou4 as tO am st i;a raymert during the pr'>
| 1ress of tho war. Yat, only having in v!eT
fhs aba .euinr- o: L redundant currency. whicr
consumes The national lie, the unsGillej thrn
! ?ist will overthrow the nlaIIms al wisdom
| aud essay to vcaci Tie pressing evil OF rcdun'
| darcy by the forced nngmGnt, in one day, OF n
| debit which. IN it, naturG, lnGsi reach dIwr
| to future generations.
Hare our public mea weighed well the prac
| Ii IL, workings of this mode Of withdrawing
thi- vjci-u excess Of circulation? Have they
cJa.iGcrs1 the pra ;tiral consequences Of throw
| iG- upon the markets. al Ut nace, this va,;
nnnnnt Of real estate, and this mass of 81
cumu!ated stocks. 10 hn sold for cash? Hnw
wl the property holdcrl of the country be
! lTa:.cI by suali rolicy2 Hy,1 lcW tile moHsy
h5,aer be affected Gy Il" | have shown ihat
| ,h"se classes OF our people are not tho Same
| III are distinct ciaeses-a"d greatly m r.
distinct since the war, than in times Of peace
The property holder II not the money holder,
and the nonev holder, Us u general thing, is
:. t the property holder.
rnrnw UPON the markets al this real 9 tate,
ami IL! these st,,cka, to be sold at once AMI
t,r cash. aaI what is the practical effect OF.
ine.e r.yr .lz-rs of the pnoplr--the money
h1 der a1.d the property h1ldar The unra-
rrirc iav IF supply and demand rises in full
/ ,-ee. The markets are glutted with lands
and with stocks. which cheapen in market
value. whilst thc money Of the Jew merchant
and cxtnrtiorer enhances relatively in tho
al1nn RATIO The specuiator will have scope
"a verge Tor multiplied Investments in cheap
! .nds and houses, and stocks, crowded upon
.iattetl ard orr-ssocked markets. The ncu
,r:iio have auiasscd fortunes Sin Coafede,at.
money" out OF; the hard necessities OF the peo
rie, will revel and hold high carnival in tho
wide spread desoIations Of this impossible
t.,arun. suci. , policy will inevitably throw
o5e r!sss Of cur people, the land and pop
cry holder into theShandS of the other class
the maney holders Of the country. ~
To illustrate the reasoning: Suppose Con
c-rcss had mover TO prdain paTncnt Of taxes II
70 cxast q tax Of ten per cent, payable in
lands and stocks, on all wealth, money iuclu
silva. The lands and stocks Of the country
would then be in demand. and the menej
holder wond be the importuhate beggar toi
sto,ks and !:.nla wherewrlh To pay his taxes
To retire this Iuonftrous redundancy by
a.zaio.ir and that roo, within time to save