New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-02-17
THE GOLD AND PAPER MARKET.
The Enquirer talks in this way:

The Enquirer talks Ill this way:
Noiwiths ndng the sole of gold BY the Secretary Of
the Treasury at one time brought gold from 20 to a. II
has again gone up TO 90 aud o. and that TOO upon
sales made on Government account. notwithstanding
the amount Of treasury notes was reduced by shaving
of one third prices went up and instead oil money DC.
coming valuable by its scarcity. the new notes
buy less than the old did Notwithstanding Mr.. Iren'
holm holds the six per cent nontaxable bonds az No.
he cannot sell them for 80. -
Here we have three important facts which it will do
well for the Congress TO consider Gold is still rising
and carrying up the prices Of all other commodities
Shut eyes rs We may, gold IL tle standard "hcn
measures our currency and daily. as gold ilses me
purchasing value of notes falls otwithstanding
the reduction Of the currency by shaving of onethiid
prices have risen, the notes have fallen ana me
Treasury is empty The SIX per cent nontsAnDo pohus
would go-and the treasury has no money 10 pay us
debts.
In such state Of affairs what is there for Con
gress Ia hesitate and diydauy over THIS scheme ana
that schemef Why not recognize the fact that every
Kind paper device which he's not gold and SILVER Tor
its base, is and will be fiurei Reduce the pub
lie debt 10 It's specie vaiuenO lis present specie Vhe'
but the average value to this timeand provide Tor is
interest in specie Sterling authorize new riehcy'
not redeemabe but convertible into bonds with specie
pay ing coupons This is the only remedy Tor our imam
cial disease.
Quackeres Of one kind and another may be iricG but
the patient will grow worse every day that the true
remedy is delayed. Taxation Is already as high as the
people can stand; they willing 10 pay more, Tor
ihey are ready to sacrifice allbut are they able
There Is such thing killing the goose that lad
the golden egg ia these States but there may be suo
slaughter rs will destroy the power Of laying those
paper eggs upon which MIR. Trenholm relies However
wiling the people may DC 10 Dc tahed tncfe 10 Hni'
which cannot be passed. .
In ls6i many persons whose business was noininaly
larger than that 1863 have found their increased In
come leave them In debt for their necessary expenses
The expenses Of living have increased i've times what
they in s63 bat the profits of trade Rave made
no snch increase The twenty ye per cent On incomes
together with the other taxes sales and properly VIII
nor permit ofany increase. The point has been Ieached
already beyond which II ia impossible 10 20. The
feather nov the camc's back, and he cannot bow.
ever willing Ne may be- rice under his load. hene'
must come In some way.
Let Us recognise the fact that our financial nomen.
claturc is q lie; thnt Confederate socAled dOarr
are not gold ord silver dollars. but mere nlche anu
copper cents Let 81 back 10 the truth and fgc un'
deceive ourselves ana Quit That sea OF figures upon
which We have bcenoa,g for the last year look Truth
straight IN hey face, IN her very eyes and reduce our
debt 10 reGi dollars. Honesty is the best policy aud
those shzm dollars which ever! body calls trash onec
burnt 10 cinders people marfuy hueginG truth IN
finance well their cause, will yet BRING Insecurity
safely through oil her trials.
The whole question of taxes. public debt and chr
rency has been referred 10 Select Committee OF one
from each State in the House OF Representatives, mat
Committee must report fact or faction 20 s country
VIII il still cling 10 sham dollars: sun infatuated VITA
bic figures palm these nickel cent. upon tho people IN
"dolas - or will H. with mnnful truth. say that shans
and snnlachres have had their day Ia this COniederHcy
and that benceforih dollars shall be dollars and cents
hall he ceutsr Gen lee does not fight bis battles with
tie army on the rolls, but with the present for duty
and MI Trenholm more rely on these shan dob
lars than Gen. Lee his sham rolls. Congress Is
nbont Consolidating the sham soldier In electives end
Mr. Trenholm must convert Lis sham dollars into real
dollars.