Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-04-08
California. and the National Cur
rsney--sserstsry MEG ullOeh's Views.


rsney--sserstsry neCuIloeh's Views
The following 10 the full text Of Ssefe-
tary MeCulloeb's letter 10 reply to a com
mouica,ion from Thompson Campbell, Esq.
10 relation 10 the gold currency in CalitOr-
MIA and the legal tender clause:
TEEAsgaI DEPARrNEsr. March 20.
DEAR SIR:-Your favor Of the 25th inst.
has been received
TIE decision OF the Supreme Court Of
Calf rnia, that United States notes could
not be received for taxes, aod the snbse.
qaest act Of the Legislature Of the State,
which seemed Ike al attempted uullif;a-
too Of the national authority making these
notes lawful moBey, have undoubtedly
dooe much mischief 10 the State, aud not
a little TO the country generally.
Whatever opinions may have been enter
tanned 10 regard to the proprie,y or neees
sity Of the issue Of these notes. aud The
makiog OF hem a legal tender, when Coz
sr,ss, 10 view Of the situation Of the coun-
Try, and on the recommendation Of the
Secretary q the Treasury, upon whom
was devOlved the responsibility Of provi-
dog The means for the prosecution OF the
var, determined this question, IL was, 10
my judgment, The duty OF California to
confotm her policy TO this determination.
The legal tender aets were war measures
and California could not place herself. as
she has done. apparently. 10 opposition to
these war IN, asures, without Indirectly as
sailing The naiional credit, aud eastitg Der
il autnee 10 90 small degree on the side Of
those who, With bloody hands, we're at
tempting The dispemberment OF the UoiOn
That such vas the intention or the spirit
OF the people OF Cahfornia, 10 one sup
poses. Truer or more Toys men than the
majority OF the people OF that State. are
not to be ioutd 10 any other State OF the
Uniou. Unfortunately, they permitted
tbeir preference for a metallic currency and
the influence Of the bsakers, 70 place the
State 10 opposition to the financial policy
Of The eouo;ry, and 10 prevent her. 10 this
particular, from being 10 hearty sympathy
With the other loyal States.
Although situated upon the Pacific, no
State has deeper interest 10 the yreserva-
tiou OF the Union than California; aud
should have been In advance OF her IN sus-
tanning those measures which the loyal
people Of the country bad adopted as
means OF accomplishing this object.
In regard TO the wisdom Of her policy 10
adheriog TO an exclusive metallic currency,
az far as California herselfis concerned, II
may seem 10 be almost indicate for NE
TO express al opinion. Wien, by refusing
70 recognise the authority OF Congress 10
making United States notes lawful mOuey,
she places herself 10 sntagOnism TO the
credit OF the Government, every supporter
OF the Government, no matter where be
may reside, has the right 10 eriticise and to
condemn her action; but her domestic
policy, 50 far a. Il affects California alone,
is matter 10 which the citizens OF other
States have DO direct interest have
however, very decided opinions upon this
sut Jet, and 40 you seem TO desire az e1-
preston Of them, have no hesitation 10
saying that 10 NY Judgement. California
sOud have been a much richer and more
prosperous State II her circulation bad
been = mixed instead Of 80 exclusively
metallic Que; that she has not Only failed
properly 20 co operate with The other
States IN maintaining the Goverumeut
credit, but has misspPrehended her own
interest in hseounteuanciug the use Of
paper money within her limits.
No country can prosper for any consid.
cradle time where money commands so
high rate OF interest as il dO,s in Cali
ioroia, aud nothing would tend more di
recily to reduce that rate OF interest than
the Introduction OF . sound paper eirculs-
ting medium.
Paper money las been found 70 be ue-
eessi'y 10 all commercial countries, and
especially IN the Uoited States; and What
10 true elsewhere must be true 10 Cahfor
MA With her splendid climate. Der fer
tile soil. and her insxhsustibe mines, her
wealth and population ought to have been
more RAPIDLY Increased than they have
been for some years past. With her great
advantages, What hSs Preveaied her from
receiving constant dow Of EN- grafton
from the other States What hiss pre-.
vented her from being commercial sud
manufacturing Statel What is no- re-
pressing the enterprise OF Der snterprisiog
people but the fact that monsy 10 dear,
aud credit, toa great extent igaoTeol
California needs . well regulated credit
system she needs paper circulation TO
Qu'eken enterprise, aud give impetus TO
busiosssi she needs lover rate OF inter-
est; she needs TO be cured Of the mania tor
IN exclusive metallic currency; in a word,
she deeds, 10 addiuOn TO The recognition OF
toe Uui,ed States oOtes as q curreucy,
sou1d eaokiog sysiem-sueh as is proyii.
cd tor BY the national eurreocy aei-ani
she will hnger Ia the career Of greatness
Ant prosperity aatil these needs are sup
piled.
Rsgrettiog the necessity AN under BY
reason OF pressing oGciAi duties, Of reply.
'as teSs e'i'dy sod hssii y to your letters,
| AN, very ualy yours.
n. hcCuLLocH.
Thompson CAxPssLL. ESQ, Washington.