The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1865-12-06
Eg- Glory is well enough for rich
man, but tits of very little Importance to
poor man with large family .e1.
Currency-Resumption.

lllat our present. "ateieu eu'iohSJ wv
ates either as a protection to home indus
try or as an impediment to excessive inn
portation. 1t has no more effect in that
way than an act Of Congress changing
the denominations of our specie currency,
so that every half-dollar should be called
a dollar, every half-eagle an eagle, would
have. Can it be necessary to argue SO
plain proposition !?
Resumption would help our home IN
dustry in this way: Men hate to invest
money in houses, or mills, or mines, or
railroads, when they know that $1,000
thus expended now will go no further
than 5000 would by-and-by. They
naturally choose to lend their money on
stocks, or invest it in Government bonds,
and thus wait till the currency hardens
and prices fall, before putting it into
structures that are certain to be cheapen-
ed by resumption. Who can be ignorant
of this +? ... ...
But about importations:
We are now and long have been i'm
porting far too many goods, especially Of
costly and sumptuous fabrics. The
duties on imports are high the rates of
exchange heavily advertise SO that
$1,000 sent aboard for goods will not
return G 100 worth toAmerican consumer;
yet what cares the man who has made
$4,000 in two or three speculative OPP
erations? what cares his fashion follow
ing, dress s-adoring wife ? They jointly
go ahead and pooh-pooh the expense so
that wines at IS to $40 per bottle are
drunk as freely as when they cost So and
So. ......... ....
Let us resume, and you will see i'm
ports falling off, people grown suddenly
economical, superb dresses made to do
for ten or twelve parties instead of one
or two, and a sudden pulling up all
around. If We could resume on the LIST
day of January next, we should import
one hundred millions worth less in 1865
than we should on diluted currency
and that would just SO much clear gain.
=" But our public securities, now held
abroad, will come back upon u.s."
Let them come We heartily wish
they had never gone-wish they were
all back to-day. If those who now hold
them send them here for sale, they can
only sell for what we may be willing to
pay for them. We profoundly wish they
would send every bond back tomorrow,
sell it for coin and take the coin away.
We should be stronger then. and better
able to resume, than we now are. 1u.
Why won't people see that debt is
the main obstacle to resumption ? III
we owed Europe nothing, we might re-
sumo tomorrow on quarter of the
specie we have in the country. Nobody
is going to run the banks for coin but
those who need it in their business. We
(for ilIustralion) receive and pay Out
nearly $1,0o0,0oo per annum in our
business, yet we use no coin but little
change, and rarely need or draw even a
trae of specie from our bank. But if we
were importing silks or woolens. wines
or metal, we migK want coin to the ex-
tent Of half our business, and The banks
would have to supply it. '1
The notion that debaucbed currency
expectation is Sheer fallacy
For few days for hours) after the pre-
MUM on gold takes long leap upward,
expectation may be stimulated; but the
prices of exportabIe staples very soon
adjust themselves to the new rates of
exchange. and then all is fiat again.
But we cannot export heavily at pres
ent, for want Of the raw material. We
haven't the staples in large quantities to
spare. What we should do is to reduce
our imports to the lowest figure until we
can grow heavy crop next year. And
his most needed reduction will be greatly
aided by resumption. Y mt a.
Rulers of the nations policy in be-.
half of half million widows and or
phans of Union soldiers, whose paltry
pension Of So per month is belittled to
IS by diluted currency. we implore
you to give us the earliest possible re-
sumption ~ T. 7r1we. .aE' -