Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-08-04
Gbe ynttlligenttr,
A.R.F.IHILDRErH, Editor.
Charles City, Iowa, Aug. 4, 1854
Palingenesis.


The common feeling that the pres
ent war is to work national regenera
ton finds abundant confederation in
current events. Nationally we have
not reached the condition that the
above caption indicates !; but are SO
far forward that it is easy to note
various phenomena connected witt
the new birth to which we are so con
fident of reaching. Leaving out ol
view other important and heretofore
more engrossing themes such as III
progress Of onr arms, the political as
psct, and the like, we may well devote
modicum of our time to .a... ."-
the MONEY AND CURRENCY QUESTION.
What is money? and what is cur.
rency2 For our present purpose it is
enough that money is minted gold,
silver. nickel. together with bank
notes and the legal tender funds OF
the government. Usage makes mon.
ey of all these. But when we come to
the ultimate Of the question we are
shut up to the fact that money is coin,
and paper representatives Of coin
are money only in modified sense.
IL
They are currency. Currency is the
characteristic name of paper money
just as Congress is the term descrip-
tive of certain representative citizens.
CURRENCY Is NOT NECESSARILY THE REPRESENTA-
TIVE OF COIN.
1t is generally supposed to derive
its value from the coin which it is
held to represent. the latter being its
supporter as exclusively as the earth's
crust bears up the ocean. This is the
popular idea Besides, the masses
hold that If the coin be shifted from
under the currency the bottom of the
ocean is tapped, and the financial
maelstrom roars. terrorizes and en-
CULTS. This, however, is not always
the case. 1t is not true now in our
country. The national condition is
extraordinary and yet as healthful as
the pangs Of travail. tits because oi
this that it is now said coin is not the
basis upon which rests the worth Of
the circulating medium. t.
CURRENCY SOW RErREsESTs POPULAR CREDIT.
The change from banking either up,
on specie basis or that Of stock Sc
curities to new and national system
is the concomitant result of the ma
tional palingenesis. The new U. S
banks rest upon the popular credit
that is, you and | and our neighbors here
and there who are voters. Adducine
this fact in corroboration Of the po
sition now asserted the reasonable
ness Of 1t becomes apparent in a trice
The people (or nation) is not posses
sor of specie enough to pay the cos
of living in this peculiar crisis. 7
must have that wherewith to meet e.
penses; and yet it does not go Out
side Of itself TO borrow Of its neigh
bors, because they see its impendin,
ruin as they would term il when stand
ing in the attitude Of Shylock wit
purpose to m axe the most Of their az
vantage. so The nation is like a ric
man apparently, but not necessaril
in his liie's last decade, the conditio
Of whom is appreciated by his Chi
dren. The peoplc--or nation-giye
out it's checks in the shape of treasur
notes or currency and the sons {
the nation spring forward with alacr
ty to meet tile cxigencies Of their p;
rents case. The bits Of scrip each on
holds arc evidences Of filial piei.
z either to be retained as mementoes
5 the old man dies and after they iia,
4 entered upon the inheritance left
them, or presented and requited IL u
: nation lives. Therefore the presel
: circulating medium being but the pr
mise Of the people as father in nee
and dependent upon the service Of h
! sons is supported by both the matte
!, and the individuals composing it :
s spectively.a And popular credit
d therefore both national and individu.
! The currency to which it gives ri
must be had because the throes OF VI
i are working national rejuvenation al
d not death. And both people and int
y viduals mast co6psratively mainta
the common credit. '''-i ''s+ . %.
ID TUE INsuPFIcIExcY on cURREscY Is suPERABr
W. DANCE.
: This contradiction in terms becom
4 ponderous truth after proper ill
tration. The nation may be view
= financially either as requiring a c.
de tain amount of means to meet eve
"a ordinary and extraordinary continge
= !. cy. or any one singly, as warlike.
= litical or commercial. The contingt
nd cy now Is two-fold, and 50 the RIG
view cannot be otherwise. Fir
i then. the insuficiency Of money
: caused by the. abnormal condition
. the nation which is supplemented