Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-04-07

iS~SoL9 Auat ma OS UQAOle 10 c0AEEol,
and eudsaTor SO 10 accommodate The sd :
minlsirati0notthe Treasury TO those events
Eas TO maintain the credit of the Govern
nent and protect the interests of the
people.
In the brief address which I made to
the principal officers of the Department on
/ the 9Th 1ltimo l said, among other things,
my chief aim will, of course, be to pro-
| vide the means to discharge the elAius
| upon the Treasury Department al the ear
liest= day practicable, and to institute
measures to bring the business of the
country qrGd@aIty back to the specie stands
ard, departure from which (althouEh for
the time being necessity,l n no less dam
aging and demoraHEing 10 the people than
expensive to the Government ,,
This il the only aSswaI of policy which
have made or expect to make, at least
for the present
The former of these objects is receiving
my first attention. The sales Of the Seven.
thirty notes (than which no more desirable
security will be offered to the public) which
have been temporarily diminished by the
Wsll street panic, will, l am hopeful, be
sooa sgsin so increased as to pat the
Treasury IN 3 condition to meet all sus-s
pended acquisitions, and honor ali drafts
that may be made upon it; 30 that the diff
ferent departments, by being in eondi.
ton promptly TO meet their engagements.
may be enabled 20 reduce lsrgely the ex-
Peoses of the government
The latter object seems 20 be in the right
train for accomplishment by the effective
blows of our military and naVa! forces
without any interposition of the Treasury
Department, aad in the face of daily in.
crease OF currency through the instrumen-
taity of the national banks.
You seem to be spprehensiTe that the
return of specie payments Is to be effected
by q contraction of Government Issues; aad
you say that, ain one thing all have been
disposed to unite, and that was that an ear
ly resumption vas the cardinal point Of
my policy, and that it WAS to be sought At
whatsoever cost 70 the capitalists azd work
ing men Of the county"
a resumption of specie payments is With
me q ''eardinal point" because believe
that the specie basis is the only safe and
healthy one for business; and because l an
clearly of the opinion that the interests Of
capitalists and working men will be promo
ted by return to it, but no policy could
be more nnKise than that which should
attempt to accomplish il by such q curtail-
ment of the currency as would PROSTATE
or ipjuriously affect those great interests
upon the prosperity of which the Govern
meut depends for its revenue, and which
cannot be broken down or severely de-
pressed without dspTiEing labor Of It's pro-
per reward.
The history of Wall street within the
last ten days Eustatus the correctness of
the option which in smother position l
have frequently expressed, that the high
price of gold wAs to De attributed In part,
at least, TO other Influences than the ex-
pansiou OF the currency, and seema 70 indi-
cate that the paper circulation of the
ceuetry which tas been issued or secured
BY the Government, even while its volume
is being increased, may appreciate nearly
10 the specie standard.
As the waC draws to 8 close, and the
restoration of the Union is no longer doubt
tul, gold aed curfeocy aPproximases rapid
IL TO each other in their market value, and
of course sll those articles which were
made to follow the former in it ascent must
sympsthize with it in its decline. This
cannot be pTeTented By any action of the
Treasury; even If the interests Of the couu-
try required it. l; must tsve been better
for the country and the people that the
decline of coin should have been more
gradual ths1 hss been ths case for the
week or two past, but it is better that II
should hsve come down as il hss than i;
shouli not have declined at all.
1t is understood, believe, among those
whose habits os personal indulgence lead
them into protrscted excesses, that sober
ing Of rapidly is dangerous experiment;
but dangerous ss il may be, il Is prefera-
ble to continued intoIieation.
1t does not follow, however that because
geld has declined from Is5 to l46, aud
may speedily decline still further, prices
generally viii fall 70 the came extent; nor
do beIieTe that any permanent decline
which is like y TO occur viii prostTste the
great Interests of the country. On the
.eo1trary,.I am Of the Opiuion that Bbeu
the specie standard Is restored, or nearly
reac6ed, the assurance which this state Of
things will create-thst the business of
the country is TO be transacted on q 6rmer
basia-EIIl divert capital from speculation,
and stirlulste, instead Of PROSTATE, pro
dactiTe industry.
The close OF the var will remove the
Government in q great degree from the
market, both as borrower and purchas-
er, and while the business of the country
is being accommodated to the new order of
things, there will be, to considerable ex.
tent, stsgnation and embarrassment; but
as hostilities are now likely to terminate
before speculation has resulted in large in
o1TTduH rudeotsqnsss, the transition is
likely 70 be effected Without the disasters
Ehioh SO many have apprehended
The liabilities of the people are small,
the Circulating medium is so ample aad SO
well secured, the resources of the nation
are so vast, and our political future 10 30
brilliant, that the eembarrassmeots which
change in the business of the country
must bring about, will be but temporary,
and the Indications are now decided, that
by the time reconstruction is fairly com
menced enterprise will be quickened into
new life; and with irs integrity establish.
ed the old drawback upon tie national
prosperiIy, end the only stain upon the IA,
tioasI escutcheon removed, the great re-
public viii move forward sgain on its ca
reer of prosperity and honor, scarcely stag
gsred by such struggle with q gigantic
rebellion IS would have broken any other