Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1865-02-09
CURRENCY TINKERING.' .
In the \. Y Tribune of Jan Sd, the fol-
lowing is published

| CURRENCY TINhERING.'
In the \. Y Tribune of Jan Sd, the fol-
lowing is published
In other words We believe that our govern
ment might, by paying S100,0O0,000 as premiums
! on loans have saved double the amount in the
shape of inflated prices for the -four, corn pork,
beef, ships, locomotives, &c, &C. required for the
prosecution of the
s'Can We be mistaken ON this point? Would it
not be better to sell short Five per cents at So
even So and pay S5 per barrel for corn meal So to
50 for -four SIS to $50 per ton for hay, than sell
those same bonds at par, and pay IS to 5Oper cent
more for every thing eaten, worm otherwise con-
sumed by our soldiers and sailors?
The only objection We have seen or can imag-
inc to this view of the case, imports that capital
! lists and bond-holders, lack the requisite discern
ment to perceive that 500 900 of Ten-Forties, sell
| ling at 80 with gold at premium of 30 are of
greater actual value, than the same amount selling
at 103 with gold at premium of 80 to 100 If
capitalists are idiots, or infants, then il may be
we'll to amuse them with rattleS and Chinese masks
but if they rational beings let lis treat them ac
cordingly"
| Now, it is very certain that capitalists
generally, are shrewd men that of all 9th
er classes they are the fartherest removed
from idiocy and infancy. And another
thing is equally certain, and that is, that
this class of people seldom allow chance
to slip by unimproved, that is calculated to
enhance the value of the property they hold.
/ In view then Of these two considerations,
why is it that the government, capitalists
and bond-holders, do not adopt the Ti3bunes
expedicnt? For, it is very certain that if
1 a., +bo
I italists, and bond-holders, will realize mil
/ lions by carrying it into effect. Why then,
we repeat, is it not done The Tribune
says, because they are idiots or infants.
But no one believes that the managers of
our finances, the capitalists and bond-hold-
ers of the country, are any such thing
What then is the inference? Why, that
the Irjbune'S scheme is a vagary.
To us it appears absurd to suppose that
a premium of any amount given by the gov
ernment on the sale of bonds, would bring
about a specie standard in the price of com
modties Yet this is the assumption the
Tribune speculates on. Does the writer Of
this article presume to say, that dealers in
government securities will buy them, and
pay in gold at a price below the market
value Of that article In other words {:
Will \. buy government bonds and pay
eighty cents IN gold for them, when he will
have to give one dollar md sjrty cents for
the eighty cents in gold, merely because
the government gives him t,centy cents pre-
MUM On each dollars worth purchased
i'll this way 4. loses sixty cents-quite a
temptation for capitalist-and yet the
Tribune sets him down as an idiot or an III
fant, if he does not do it. Marvellous finan-
cial reasoning this. If the TribHae has any
plan by which it can sell one hundred mil
lions of dollars worth Of government bonds
at the rate Of eighty cents in gold, why
does it not give the moduS Operdndj. 1t
will secure the lasting gratitude of the
American people by telling how flour, corn,
pork, beef clothing horses, wagons, loco
motives, ships, in short, all commodities,
which the government, and people consume,
can De llatl aI OHc-lOufin, OF OHc-ldil less
than their present value Or, why does
not the writer of this article operate upon
the scheme He can make himself the
richest man in America in a short time, if he
knows process by which a specie valua-
ton can be reached for all commodities. by
giving twenty cents premium on each dol
lars worth of government bonds sold. But
the whole thing is too prepostcrous to en-
tertain, and we are surprised that sheet
of so much reputation, should be guilty of
uttering such nonsense.
We have bat one object in view in motto
ing this attack of the Tribune on the finan-
cial policy Of the administration, and that
was to put the friends of the government
on their guard. In conducting a heavy, and
a long war; a government generally fails
first in her finances, and ours has been al
ready severely tried in this particular. And
we have too, many journals, writers, and
orators, who, from q wanton purpose to in
iure, are eternally harping over the bad
management of the federal finances. To
bear up against this is enough, without hav-
ing those pretending to be friendly, .jibing
it on this score, into the bargain Besides,
the Tribune claims to be guided by intelli-
gence on this. as on other subjects. But,
in the present instance there is wonder
ful absence of this quality Indeed, 50
much so, that ranking bitterness is made
but too apparent, as being at the bottom Of
this bungling assault upon the government
financial policy and it is this which com
pletely destroys its efforts
The crew of the rebel pirate Florida, seiz-
ed in Bahia Bay by the United States steam
er Wachusett, and accidentally sunk in
James river, Virginia, have been released
by the government from continent in Fort