Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1865-02-09
GOVERNMENT MONEY.

plicable anomaly to us For any sensible
man will ask, what is the difference between
borrowing money from the people, and ask
ing these same people to take Treasury
Notes on trust? Or, i'll other words Why
should giving notes, ruin man sooncr.than
borrowing to the same extent?
The proof which is relied on to sustain
this positive contradiction, is drawn, first,
from the failnre of our Continental currency,
secondly, from the failure Of the Assignats
and Mandates of the French republic, and
thirdly from the failure of the Confederate
issues But the surroundings OF these meas
ures were so entirely different from the cir
cumstances which attend the issue OF our
Treasury Notes, that there fails to be any
resemblance between them. The proverbial
poverty of the United Colonies, when they
were forced to create paper money, to meet
the immediate, pressing expenses incident
to the Revolutionary struggle, made it pal
pable that they could not be redeemed; and
owing, partly to the inadequacy of the Ar
ticles Of Confederation, and partly to the
unwilligness of the people to be taxed, this
usual way of meeting a nations indebted
ness, could not be resortcd to- Besides, as
confederation no money had been coined,
and the paper issued was to be redeemed
by Spanish milled dollars, and how could
these be imported in sufficient quantities,
with om limited exports, and when the
triling commerce we had, was driven from
the ocean by the English? Our own peo-
pie had little money to lend to the govern
ment, and we were 50 despised, and our
cause was 50 hated in Europe by the mon
led influence, that we could borrow none
there. The trifling loans affected by Dr.
FRANKLIN, i'll Holland and Paris, was done
through the French King, who became Sc
curity for their repayment and he did this,
not of good will towards us, but from a
wish to injure England. The Continental
Currency, therefore, was issued because
we were too poor to borrow, and as a Sc
H"oHoo' ""' WI 'hl' i'iii 'iio o'iii' '""'o'
That too, which had a repondcrating effect
III weakening us before the eyes ol thc
world, and destroying any credit we might
have mad, was the great uncertainty OF 'he
cohtestWe were engaged Ill Wlth the strong
est military power then eXtant We were
too weak to excite even a hope of success
Il
away from our own immaculate OoruerS'allu
now could the paper, or plIlS OF crcuit emit
ted III such an apparent hopeless conlilct,D be
worth anything How then, does thls state
OF things compare with the circumstances
under which our present Treasury Notes
are put forth We are stable enough as /
government, we are fich enough, ana III
good credlt enough, TO borroW all we need;
and Tor this very reason, we urge strong
enough to Issue treasury Notes to the
whole amount ol our present. ana expected
Indebtedness.
Ana now was II with the AsSl9hatS ana
Mandates oi the rehcll hcFoiu'loh france
was bankrupt 10 the last degree, ana uli-
able longer TO borrow, isSEed TINS paper to
meet pressing eXigencles ana whilst 1t Is
known that TINS paper dld pass ana the ar
mics were equipped ana sustained, ana
even rance delivered ny yet looking
at IL h""' II Is amazing that they could be
circulated TO any extent among business
community For the face OF them indicates
1rand. Ihcy READ thuS Natlohai DO
oi one hundred francs.
Does thlS Dill oi one holareo francs, pro-
pose 10 pay 10 any o"oy ahytllihS Oer'
l"ihiy NOT Anu SUM- il"INelouS |" relate'
fo'1y W"""0"@ m'tto"S OF tllS fraudulent
paper ana ""ee "o"|0"" "Wt'"S ol tRe
Mandates, were put out. +he latter had
no more llltrlIlSlc Val''e tan the iofiler' ana
sank TO utter worthlesShesS much sooner.
III was the arOltfafy violence oi hoocSPlerre
winch hlorceo tlllS money upon the community.
NoIlihG iesS IMAM lhis c"ulo possloly nave
induced Inc frchch people 10 receive 1t III
cxchah@e Tor goods, ana other property
"en we io'h "' 'iic 'iii'oS' l''"'o"s
"iilo""' Vi 'll'" iSSue vi paper llohey' anu
the cohdltloh OF tIc country whence 1t eme-