The New York herald., 1865-11-25

lend US money who doubt that at this time should
peoplea Happily u.s. Secretary Of the Treasury and
the Congress Of the Union were persuaded 70 adops
the General Banking Law and the legal ~
From this point OF me-whch should bc heId N CRATE
ful remembrance by . great and united peope..nS
manufactures, has been free from the complicatons
fluctuations and designs Of our enemies and friends u
Europe.
rbvysa no oon PAPER nsssa9 ss'4f
That Congress has the power to coin paper and NJ .
regulate the value as well TO coin aloyed gold and al
The power Of Congress hes in the words o tx OF rosu-
late the value" They aloyed gold and they nxed iie
value when coined. They have also fixed the value Of
coined paper and who shall question its vauo for do
mcstic tradef Money n that which In country
deems all debt or % obligation and . not % itself sah!scs
godY Gold coined and paper coined for the benons
tho people in their exchange Of property and mus
These These loyal tenders or coined paper % are an a.
dition TO- not substitute for gold. Any bank o.
msns when possessed Of gold and silver or legal sss-
der notes. Both Of these money BY force or law
This plan not only protects our credh and property q
homo, but II releases TO creditors all the gold and
silver for expectation This is but right because BY the
custom Of merchants all balances In trade due foreign
then Is hones, In US 70 compel our banks and people
pay their debts In gold when II is required by foreign
s wy cs Ts as% y e
on, o. the country TO pay foreign d:sssf ;sn Lsavs
sSS free and 70 60 and and Ss d
tate We cannot controlts quantity or value any more
than can tho quantity price Of iron Il y as un-
stable water or the foreign trado 70 which y belong
and should be loft subject only tho laws Of national
commerce. Tho sooined paper or legal tender wc can
control, both in is quantity and value. Will: gold
being mined In all parts OF the world ana coined Tor cur
rency In every country legal tender created only
by government and will bo retained In our coun>
try Thus II quantity is important element In money,
our loyal tender s the best mode OF securing IL
This part Of our subjecs would bear much morV ss-
tended and careful exsminaton but we must hascn 70
other branches with only this further remark THAT W
trust Congress- will not he Influenced OF ccnrosd ~ the
sercoypcd IDEAS located Ia money centre without
making most thorough examination into the laws u
currency now in fogos under thor suthssity IL Con-
aress viii leave gold for foreign commerce and legal ten
des for our local business shall be eancpatcd fom
British rule and continue truly and emphahcally an n
dependent nation. if Y t
INVITATION AND yLy0ruAnor. ysH 11Ntr
The opinion Of the people, - expressed through tho
press and In private conversation that the rcduns
dsucv of paper money II the caso OF high prices aoA
creates depreciation IN the value Of paper ourrsucyc
IL ths truef The press has asserted that sooa
as the war was closed and hope In the ascendant
Tho cur ncy increased In value These two propositions
arc in direct antasonism. Tho last 10 literally true
Confidence IN the value Of our currency greatly
Increased by tho termination VI the war; aud conss-