Baton Rouge tri-weekly gazette & comet. [volume] (Baton Rouge, La.) 1865-18??, 1865-11-09
SPECIE CURRENCY.


that the Secretary Of the Treasury
Mr.. McCULLocn, will, at the mex,
session Of Congress, recommend til.
resumption Of specie basis as rap
idly as il can be done without in
/ jury to commerce and trade. From
the outgivings Of the Hon. secretar,
| In his conferences with the people
during his late trip from Washing
ton to the West, we would infer. that
it 10 his earnest desire and intention
to bring before the notice Of the next
Congress such measures as he may
deem necessary and expedient to re-
store the business Of the people TO a
specie standard and place the credit
Of the country on a stable and salts
factory basis. He expresses a faith
that this desideratum can be realized,
without a financial crisis, by fund
ing Of the surplus currency and in
terest- bearing notes, and a check to
the further issuing OF paper money.
To this the people will cry amen
for they are longing for a cessation
of the present deprecated, unsettled
and uncertain circulating medium
and for return to the good old
fashioned "rhino- plastic" which has
the ring and touch Of the substantial,
genuine metal about it
Mr.. McCULLocH, as a wise and
capable financier, enjoys we believe,
the unlimited confidence Of the Ma
ton. We trust he may be enabled
to make it appear by his future
manipulations Of the currency that
that confidence has not been mis-
placed. If Congress in its sphere,
will only sustain him in his aims at
ameliorating the finances of the coun-
try, we think there is no doubt that
he, in his sphere, will prove equal to
his share of the emergency.
In his recent speech at Fort
Wayne, Indiana, he enters quite
largely and explicitly upon the cur
rency question. We regret that our
space limits us to reproduction in
part, only of the report before US Of
his able and statesmanlike views ana
opinions expressed on that occasion.
We have room only for the following
extract:
You know that | did not seek, as
/ did not expect to be, Secretary of
the Treasury. To this fact ! attrib-
ute in great degree the good feeling
and indulgence that have been mani,
tested towards me In the very trying
and responsible position | occupy. |
| accepted the office of Secretary of
the Treasury with great distrust of
my ability to meet the public expec-
tation, but with sincere desire to so
conduct the affairs of this great de-
partment as to aid in restoring the
credit Of the government which had
been damaged by the greatness Of
the public debt, and the uncertainty
in regard to the duration, if not to
the result of the war, and in bringing
up the obligations of the Govern
ment to the specie standard. am
not one of those who seem disposed
to orepudiate coin as measure OF
value, and to make a secured paper
currency the standard. On the CON
trary, | belong to that class of per-
sons, who, regarding an exclusive
currency as an impracticable
thing among an enterprising and
commercial people, nevertheless look
upon an irredeemable currency as an
evil which circumstances may for
time render necessity, but is never
to be sustained as policy. BY com
mon consent Of the nations, gold and
silver are the Gully true measure of
value. They are the necessary regu-
lators of trade. | have myself no
more doubt that these metals were
prepared by the Almighty, for this
very purpose, than | have that iron
and coal were prepared for the pur-
poses in which they are being used.
favor well secured convertible
paper currency. No other can to
any extent be proper substitute for
coin. Of course it is not expected