New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-07-19
GOVERNMENT FINANCES,

A Union citizen OF New-Jersey, we are in.
formed, has offered to canvass the place Of his
Residences manufacturing gratuitously.
and pledges himself to raise loan of SlO0, 600
to the General Government ON the following
cOnditions
First: The subscriptions to be paid by regu.
larry monthly installments over period Of not
less than six months r-....-..
Second: The Secretary of the Treasury TO de-
vote stipulated proportion of the proceeds Of
all permanent loans made by him TO retiring the
superintendent currency now in circulation, un.
til its maximum amount shall not exceed $3.50,
900, 900 The reduction to be gradual, but a.
rapid as the condition of the country will permit
say at the rate of 800, 600, 900 per snnum, OF
above. -.
Third: Public meetings to be held all over
the country, to be addressed by the most emf
nent speakers on the subject of the resources Of
the nation, and the urgent duty of citizens,
especially workngmen, subscribing to the Gov.
eminent loans in the manner and on the condi.
tons stated A generous rivalry to be excited
among cities, States, counties, townships. &C..
as to which will contribute most literally to tho
loan and consequently to retirement of the re.
dundant currency, and a corresponding reduc.
ton in all market values.
Fourth The loan to bear six per cent interest.
which, with the principal, is to be made payable
in gold.
The advantages which such an arrangement
would offer are many by reducing the vol
ume Of the currency, the nation would take
the first practicable step toward the ultimate
redemption of the whole amount of its indebted
ness, thus imparting degree of confidence in
! the faith and ability of our Government which
would effectually checkmate the speculatorS,
and cause the price of gold to fall more rapidly
than it has lately gone up. With this decline
would Immediately follow corresponding fall
in tie necessaries Of life, which have recently
advanced pari passu with specie. The Govern
ment would, at the same time, be enabled to
make its purchases at prices so much lower than
it now can that the public Indebtedness would
be many millions less at the years end than it
threatens to be. Last, but not least, this
reformation would give the Government new
hold upon the affections and support OF the
mechanics, the laboring men, and their families.
all over tho country, who are now oppressed By
the extortion of spectators. brought about, as
is alleged, by the diluting Of our national cur
rency, assisted by the unrestricted issues OF
local bank paper in different parts fthe country.
By retiring considerable amount Of the ''green-
backs" issued, it is believed the country banks
would have to follow suit or close their doors
altogether.
Perhaps the most attractive feature in this
plan is the proposed payment of subscriptions
by nstallments thus afording workingmen and
women an opportunity to become the owners Of
$50 or 800 each in Government bonds. There
are hundreds Of thousands Of people who sell
dom, if ever, have the full amount on hand.
who could, nevertheless, raise it during period
of six or twelve months; and would gladly ap.
ply their surplus earnings in that direction, il
they could see that, while aiding their country.
they were at the same time helping themselves
by overthrowing the spectators. In such
case we should have patriotism :" according to
Gunther," which, though not of the brightest
type, is better than none at ALL
We commend the subject to those in authority
and the American people. The least that can
be said in its favor is that it merits a trial. II
the experiment is found to succeed in one local:
ity, it would doubtless be followed up in all Sec
tons Of the loyal States. .r