, 1865-01-25

The TEne Reuc:7y-KfoxY tho COM.
TEltaee CT Ways und Means II Con.
sIllute8-I he Nc6s Vofceleks.
(Editorical Correspondence Of ths ChIcapo
Tribnne.l

, frihnne1 ~ ~" Snacagt
r WASHINGTON, Jan. Is, 1855.
. The amount Of currency at1oat at the prcs
ent time is In round numbers as follows:
LEGAL Tenders without Interest,". Haa oo3. n.
Legal Tenders drawing Interest,". s0G0oa'0l
Certificates of indebtedness. 1sa95S S9x az
!fsues of National 6snks.-..-...... s2M0' '095
Total. 8, ,15c, ,oOo, ,ooo
Eleven hundred and tli1y-six millions Of pa-
per currency for population Of twcnty-tlrce
millions of people! The people Of Great
; Britain, France, Spain, Germany end italy
numbering one hundred and 6lty millions Of
souls, do not employ 30 many dollars to do
; their business. But then their money Is gold
or It's equivalent, while ours Is stuff worth
for'y-four cents on the dollar.
The way to increase TIL yaluc of our paper
oo1lals is simple and plain, and the way
fa'ing man, though a fool, may understand It,
viz: to contract the quantity aaoat. The
currency is now fcarfnlly scatered Il gallon
ofwater be poured into gallon of mo.asses
The mixture is doubled in bulk, but it is
worth per pint but SO per cent as much a. be-
fire thu aqueous element WAS added. Pour
down another gallon Of water, aud
the mixture becomes worth 33k Der
cent, and another gallon brings it
down to Is per cent. Thus 1t is with on
currency. A certain sum Is needed to do the
business CT the country, the value of which
Is equal 10 gold. Every dollar added TO this
amount derreciates the whole, reduces its
purchasing power, deteriorates it. When
the Government resolved to Issue legal ten
dc, to circulate az cvft snon,a Is.sst
| the eame act, nrovidad ron,r.. Aa'e. ~ ~
~. ~ sa"o w.. ptos'aea q vacuum to be
nnco 'nefe"ith. But this was not done.
Inc currency ut the time was
gold, silver and miscellaneous h,,t ,otas
l. the last redcemah1., IN oo;,, ,,,a,s s:' '
1b- ent,ra c,,.,aaa,, - soan "'uuS osconnt
loyal States was about saoo, ,ooo. .0oo SIS nearly
as can DC ascertatncd. The value of the pre-
sent 81 ,l5G, ,000, 600 Of currency Of all desctn-
t:ons reduced to gold-tbe 1ater he,nr ha;,ad
out, is sos. 900. 600. Sotbat the nnt;-s 1ro.tt
Of the currency now cmn,ovca - au ,,nt sv1.n s,o.
M ~ - .s,s ~" s.nlno,eo - oo1 eloo.-
ooo0ooa ~ so4o 1noTe tnan Tnen tnBs war be- |
san. me increase OF population and the
absorption Of greenbacks in the rehct STATE.
and the money in the hands Of tha ci..vsss'
ment for thc ~. ~ +ho a-,S-> y. SNo ooseln.
reo1ire at ,enst ~ siHy aial.; aug navy would
th1retsre annaars @ 4hs+ cas dna ooa sum: II
cnfrency IL Xho1iT use1ess s 1o,Tp ~ rp, o. our
When fhc Gorn1nmenfH aoI 1,no! Mossaesa. ,ect
-hene1 - ~ fsse nsa1mas 1onS aso as 1sdl
TKInI.sr ins;s1.5 : "a r. 49,, ~ u Cacago
shgnld fc sretired : - E msGa sa, .ooa oaat issues
it,sai trnders II for.tc1d nm1o that toom lor tae
WIS dnne .coid sn1 NV. .pat , unaess thls
tr,1, 0c' c;rr',S7o4;a Sn 0na snsel "oula disappear
1ro,1a snr, IL dan. ~ 49, -, ~. p.pet currency
tn fhe snrn1ns p. a,non1t - LILY 70 propo1tloa
anoaf Rnt he Gonaa.eEeoasi -. E,,pti1 ISSUES hepk
h.1tar ~ ,;+ti,, I,; Ionglessaonai so4ons Enc"
.st;nns ~" r.! sas ~! nseo ~ Mas pald 70 Us admo-
Ts1ur.,e ons tIns ~ auSuonsliateo tnat the
xo1i a. =, 75sni n,3 ~ Ii tna1 as
III The e. Tn1nrSs n @ gehi ia dawH t ths nronos,.,or
'at tuat aatel gna Should ne expelled from circu-
.atn, .;. aua I.s lAaeS Ltteo, ooliaI lot dollar.
WIN s!tenpaeks anu H.sd'cats, +" That thence
sna11 .ne pa. pusc1asS po@e. o. currency would
sraa "a T. .,st ~ saon s ls u was m
ss.st sleaseo ~ ~ 4uanty. any suen mas oeen the
Rsp!., d rs, .ns oltnlens oi inc financial Solons
stana;nn 1''se' ~ ene eonsta's' not"1tn-
Ti .f:4 r
a,,a W ;sratee1 eness ~ l"n..s enls anoa Q, mtaea
nu ~ =. aas,t1 CURRENCY " tne puollc, na3
leu " aou.le tue cust OF Inc var, ana add
en- Ien 70 t"c1Se hnndred miuions to the
n;,t.nt; asgs. .aousana collars Of
on.lsas.onS ~ 1ssugo ~ ~ Gosesnlne1t. 1t gets
~ ~ ,saun lsss t4an mse hundred dollars OF
eo1S ns 5,,is.e LIVES us note 20 De paid N
Eo1u ool!sEs, aHa reeeases thcfcior paper dol
'atS ~ Moraa TN l9tty pr ; 70 III cents:
,,.,. 4I'e nlEs oG Mlse ana aslntc nnnncse!lng,
ouI =. n1ess ata 80 'snotaot and stupid Us
nJ5 b.: - see ~;
~ oas a,,. nom sna1l IN me water" De got ont OF
me currency: by the very easy and simple
rIocs IS Of taxing Tue local s. shinpsaster about
zen Per asn esnt pe: pa annnm: This VII retire BE-
!TGen ~ ana w 1nlll'ons Of trash that oaSht
10 Q, nave 9esn n, nanfshed thiee years ago. This
ael Won!d Don ous enough wafer 10 leave the
remaining currency worth U cents on the
dehar. Or IN other Hoids, it would reduce
so1a 10 ABOUT 1oo
nc ne1t step would be TO fand the cerEif-
Gates Of Indebtedness by receiving them in
payment Of Government dues and for 7-30
M nds; the next thing to do Is TO fund . par.
81 tile p" gteenbacks. say fourth O. tiith Of
them, gradually. And the way to enable the
Government to take up the certificates and
retire interest bearing legal tenders Is to in I
crease the revenue by laying on more ta1es
during Inc Hars There must 10 less borrow
az auu MoIe 1a1ataon' 1Wo-tnlFas OF the t
- =. 'he W.. enouu ue uet'asea ~
.oer;s.a tha Het;eaa3 ~ pay ~ Me ~ man 10
DEBT two nr three fnIi hrvond ~ con sidcrn- ~
ton received fur The honda ~ ~'>
4 hill win shortlT 1,e hroueht ,,4, 49, ]