New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-03-15
Gold md "Paper Money:

To the Editor Of The " y. Tribune
SIR: Noticing in your issue Of lst inst. the in
quy of your Quaker friend Of Philadelphia andyonr an
swer respecting gold and paper currency allow me to
suggest idea that may not have occurred to your
mind. No community, however small or however new
their country progress so far in productive INDUS
Try 20 possess capital in land houses, food impe'
ments, &C.. however unequaIly distributed, without
money equal 10 their need for eiiecting exchanges IL
the settlement is accessible TO the peddier ID
tragic; for the reaoon that without money tier capai
is relatively chear and poney is proporuonahy deai'
The first ching. therefore that vii flow into that set
element from abroad s money Will then bcome 'hei
creates. need; it VIII be the commodity that VIII
stimuste their productive energies moro than any
other and b,ytnd Supplying te commontst ana ihV''
indispensable Of life. it will be the earcst ana
strongest slduceren; and means to the increase o
sac sfaction and the accumulation Of wealth. Inc less
ID ney ap-l the Of other capital they possess ue
uore RAPID WILDE the influx OF god and silver una
An equs,lon is established between money snd crcs
jlting capital IN general.
No o1her en- cmcn but that Of selfnerost Is ners-
sary bring money other carita any other enact
ment but series TO drive 1t away. As the child win
his cont gosr To the shop where b. gets the HOS '!
for Dis mory the trader wish his gold goes 10 ,e
| spe. where money has the mos. value The Only wa'
To keep meney ont Of the hands Of industrious an
er tcrprsg people and prevent them from bTying sfd
selling To- cash. is occupy ne place with cuirep y
a. debt Then IL the Government is not directly snd
~xclusiv " its manufacturer the strongest motive to
human .sxerton sefnieresthe self interest Of the
,urleDf ymakcrs-s enlisted in the business of eAt,nd
ing the rarifcations of deb. among the people " the
| utmost degree ana in daDaging their capital ~ de-
grads their money and diving it from them ~ dead
loss because imports viii then command like az Other
objx Of home consumption. the false and high prico
of IN, false currency whit exports viii command onJ
thel,wer prices of the tJrer and better currencies
otss countries.
\ y-icnd Euclid tcik VOL a most important trth when
he avs the currency a whole IN state o
reelection and that therefore. the first five dollars IL
psper for which five dollars in specie are not IDLY con
siped TO state Of dl. ness is at once dolng upon
G. edit and process Of initiation
These first five dollars Of paper add price net rdiSf
., property general hey sink the value OF all The
currency Of the country five dollars and not merely the
vaue Of the five dollars OF money displaced the conse
quence being that all the money exported to mako room
for the fiction thrown into the pockets Of foreign pro
ducers for Price not &c rsiTs received.
It's the most cos,l and wasieful system OF cnrrenc,
that can be devised Infinitely more so than systcm
oyervnlued tokens But as only wealthy thriving
people can support il and the wealthy and thriving
necessarily are able endure IL drain Of capital th'
best and Weld II the extensive support. people Ia
general lump Ia the conclusion that the capital which
IL bleods like vampire Is accumulated By ths oIrii
tions OF the system which instead Of being called by ~
right name debt it, ~ cunning sophisry called pa
per money! pVh'Nis'