The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1865-04-01

dom and energy Of our statesmen and pub
lie servants. 1t is for them alone to say
how soon and in what way. The matter is
in their hands. From at least supposed
necessity they violated the laws of value,
by making that to be currency and legal
tender which had no value, only the prom
Use Of it. They introduced credit into the
currency. aud it is by their action alone
that the false element can be eliminated
and the true standard can be reatOred.-
When the war has ceased, war expendi.
lures will cease but taxation will doubt.
less be continued, and the revenue made to
exceed disbursements, and the Govern ment
will have the ability to take in it's green
backs and other currency. Besides this,
as soon as the credit OF the Government is
assured, there VIII be \ large, we should
say, perhaps, immense demand for public
stocks, and the floating national indebted
ness can thus he rapidly funded.
BY these means the volume OF the cur
renry can be reduced. provided the proper
steps are taken, and banks are not allowed
to increase their issues. Congress will have
ton, to compel these banks to resume spe-
Gle payments, and. i, that be done, they
must greatly contract their circulation
Thus, by a gradual process, we shall return
to the true standard without any violent
convulsion.
There is one unprecedented fact connect
ed with the war in which we are engaged;
it is that individual debts are being dischar-
ged to- wonderful extent, SO that when the
contest is ended the people will be treer
from pecuniai obligations than ever be-
fore. This is q remarkable phenomenon.
and quite in contrast with the condition OF
our country at the close OF the revolution
ary war, but the course pursued by the
Government has brought it about. Prl-
20 ~nhn Il -, Nv
debtedness. The nation is involved TO an
enormous amount. Every State, every
county, and every town has accumulated
debt to an extent before unheard OF.
This fact must greatly influence the fu-
ture. Taxation will be- heavy, continuous,
and pressing. 1t will bear with great force
on the masses of the people. Their con-
trade, must be restricted. What man
pays in taxes he cannot expend for clothes.
Every expenditure must Ne curtailed TO
meet the demands of the Inevitable tax
gatherer. The result will be that ordinary
consumption will be less, and extraordl-
nary consumption more. Those who pay
the taxes must buy less, those who receive
the public dividends will be able to buy
more; there will be less low priced and
more high priced goods sold, more luxu
ries, and fewer necessaries, prOportiOnate-
~, than before the war.
The crisis through which we are now
passing is destined, whether fortunately or
unfortunately, to assimilate the nation to
European civilization. The great debt
be paid. or ever repudiated. The nations
Of Europe do not pay debts, they pay the
interest. They cannot pay the principal
because their current revenues are re-
CURED to meet the interest, carry on gov
eminent, and prepare for war in time OF
peace.
Such is our destiny so far rs all present
appearances indicate the future. But with
regard to the currency, that will depend
entirely upon what the people have the i'm
telligence to demand, for it is certain that
Congress is always ready to do just what
the people wish, except to reduce their own
pay and privileges.
What, then. would the people have.-
Once they would have asked for all tue pa.
per money that the banks could put in cir
culation but the war has wrought grea,
changes in public opinion on two import.
ant subjects-slavary and mixed currency
The nature and influence OF ench are now
understood as never before, and we think
| the great struggle will be equally fatal &c
both.
Nothing connected with the war is more
| remarkahle than the general success OF it,
| industry IN every department of trade "a .lG
manufacture. Not that the country mas
been actually growing rich in the mean.
time, but that it has been able to sustain
| itself so prosperously under circumstances
80 adverse.
| Should, then, the war be closed Ivy sat
isfactory peace, there will remain but ont
cause Q! anxiety to the business public
and that, we repeat, will he the currency
because on that prices and the security o
trade will entirely depend. Shall the de-
scent of prices which we know must anC
ought to take place, be gradual and steady
wholly upon the action of the Government
that again upon the clearly understood
wishes of the people, aud that upon theil
intelligent perception Of their true int
rests.
i Such is the position, wealth. re
sources and credit OF the nation, such tn,
brilliant prospects Of the future, that moth
ing can prevent realization of our bright
est anticipations but stupid legislation ant
ignorant financiering.'
4 PROr. AGAsSIZ GOING TO SOUTH AMERI
i CAIN 4 Lowell Institute lecture, the dis
!, tinguished Superintendent of the Museum
at Harvard University expressed wish t,
, visit the Andes that he might verify som
) OF hisstheories regarding the glaciers. Ma
: thaniel Thayer, ESQ.,, already munificen
: benefactOr of the college, was present, an,
has since proposed to Professor Agassiz t
to South America, offering to pay hi
3 expenses and those of as many assistant
. az he may choose. The Professor gladl,
ava'led himself Of the offer, and will star
> ing with him eight young men as student
ana assistants. He will go direct to Ri
Janetro, and examine the mountain range
: III tn0 Southern part Of fRrazts ard i'm n