Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-03-25

l
sires to re,sipf Wercply. let him 10, be unduly
frightened Let the FIRST shock be met with firm
ness Those who arc greatly scared wIll doubt
less take the frst sales by making great reduc
ton. and will find they we're mistaken In 30 do.
ing because they will not be able 10 replace their
stocks at the rates AZ which they have sold. The
price Of gold will doubtless recede very much on
the news OF peace, bat gill certainly advance
again after The first impression has passed by +.
becauscd II IL measured BY our paper currency Of
the country, and that IS 30 greatly redundant
that ANYTHING Ike normal price for gold or any
other commodity Is impossible There are two
extremes. then TO be avoided in the emergency
contemplated. One il holding on too closely
the other selling OF at to great a reduction
Most persons will take the latter course and
suffer unnecessary loss, while the more shrewd
will mcke fortunes by purchasing merchandise
thus needlessly sacrificed.
Prudent men will operate uuder such cireum
stances vitb great caution. because they will
have in view the fact that prices must continue
TO decline the currency Is withdrawn, until the
bottom is reached They will. therefore. hold
as small stocks practicable. they will not
cease their operations on account of prices, but
carefully watch the volume OF the currency and
govern themselves accordingly.
When the war commenced, many rery pru-
dent persons stopped their purchases. and laid
still waiting for better times" Such have made
nothing during the war, and will End themselves
poorer at the end than az the beginning of the
contest. Others went straightforward, buying
and selling and have secured fortunes within the
last four years
Business men, who have a valuable trade,
should hold on 90 IT, That they will generally
make great profits for some time 10 come is not
likely, because we must eventually descend in
prices to the normal standard but in the mean
time active men having feature before them
would not be wise 70 relinquish their trade.
| Nothing il more certain than the wonderful ca
reer Of prosperity that awaits us, ii We only Sc
cure nationality and permanent peace. and those
who are In position to take part in the business
Of the country. will have the best opportunity
ever yet known for wealth Hence the import
snce of passing through the transition from war
20 peace, in such a manner 10 be prepared for
the tide Oi prosperity which awaits u as a
people.
Our manufacturers. especially. must start into
new life and vigor with the termination Of the
war. The demand for cotton goods, in particu-
lar, will be unprecedented The markets are
comparatively bare but, what il more strikingly
true. the homes OF the people more destitute
OF cotton fabrics than ever Lefore. Everything
has been used up. All are waiting for peace.
that they may supply themselves with those
goods, OF which they have been accustomed to
keep liberal supply OH hand.
The demand for home fabrics will be immense
but for foreign merchandise IL will be greatly
crcumscribed This will arise from two causes
one is heavy duty, the other the reduced ability
Of the common people to purchase. These are
palpsble facts that must be taken into account
when considering the future and its promises.
: But still another inquiry arises When and how
! shall we return to a sound currency!
That will depend entirely upon the wisdom
and energy Of our statesmen and public servants
II is for them alone TO say how soon and in what
way. The matter il in their hands From al
least supposed necessity they violated the laws OF
value, by making that 10 be currency and legal
! tender which had no value. only the promise OF
il They introduced credit into currency and il
l. BY their action alone that the false element
can be eliminated, aud the true standard can be
restored. When the war has ceased, war eI
pendiiures will cease but taxation will doubtless
be continued, and the revenue made to exceed
disbursements, aud the government will have TIC
ability 10 take in its greenbacks and other cur
rency. Besides this. as soon as the credit of the
government is assured, there will he a large, VIC
D should say. perhaps, immense demand for public
! stocks, and the floating national Indebtedness car
thus be rapidly funded.
, By these means the volume OF the currency
be reduced, provided the proper steps are Ia
ken. aud banks are not allowed to increase the
issues Congress will have the power. and ough
10 have the disposition, 10 compel these banks &c
e resume specie payments. and II that be done
E they mus, greatly contract their circulation
4 Thus by gradual process we shall return TO the
true standard without any violent CONFUSION.
g There is one unprecedented act connected viii
D the war in which We are engaged: II is tina, in
; dividual Indebtedness is being discharged 10
most wonderful extent. so that when the contest
I is ended, the people will be freer from pecunary
/ obligations than ever before This is q remarka
1 rk.p he
condition OF our country at the close OF the rev
, dictionary war. but the pursued by the
government has brought it about. Private has
been exchanged Cor public Indebtedness Th,
2 nation is involved TO an enormous amount Ev
, cry state, every county, and every town ha:
accumulated debt to an extent before un
, heard Of.
This fact must greatly influence the future
} Taxation will be heavy, continuous. and pressing
} lt will bear with great force on the masses oil
the people Their consumption of wealth. and
OF course, their trade. must be restricted. Wha,
a man pays in taxes he cannot expend for clothes
Every expenditure must be curtaied to meet the
, demands OF the inevitable tax gatherer The re
suit will be, that ordinary consumption will be
! less, and extraordinary consumption more. Those
, who pay the taxes must buy less, those who y
ceVe the public dividends will be able TO pay
more; there will be less low priced, and more
necessaries. proportionally, than before the war
The crisis through which we are now passing
, is destined whether fortunately or unfortunately
20 ssslmilate the nation 10 European civilization
, The great debt which We shall create will prob
, ably never be paid, or ever repudisted The
nations OF Europe do not pay debts. they pay
| the interest. They cannot paw the principal be-
cause their current revenues are required TO meet
the interest. carry on government, and prepare
for in time of peace
Such Is our destiny so tar as all present ap.
pearsnces indicate the future. But with regard
! 70 the currency, that will entirely depend upon
what the people have the intelligence to demand
for il Is certain that congress ia always ready to
DO Just what the people wish. except TO reduce
Q their own pay and privileges.
What, then would the people have? Once
they wolld.h have asked for all the paper money
E that the banks could put in circulation; but the
wax has wrought great changes in pnbic opin
J ion on two important subjects-slavery and mix
2 ed currency. The nature and influence of each
; are now understood never before, and We
think the great struggle will be equally fatal to
; both
Nothing connected with the war is more re
msrkable than the general success of its industry
J in every department OF trade and manufacture
: Not that the country has been actually growing
rich in the meantime but that is has been able
to sustain itself prosperously under circum
stances so adverse