The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1866-07-03
Letter From a Farmer on the Subject OF
National Currency.


trade policy of this government, and our IL
nances, are subjects that have frequently fur
nished the political parties OF the day their
much needed hobbies, astride OF which they
have alternately ridden into place and pow
er, but in the end their administration of af-
fairs connected with these subjects leaves the
country in greater doubt aud uncertainty
than before. Then let ia, for one moment,
forget party, and strive to solve these great
national problems in the light of common
sense and philosophical reason, not shrinking
from the responsibilities that belong to this
generation and casting them on the next,
thereby mortgaging the blood and muscle OF
our children, and that of generations yet IN
born, God knows how many and for how
long, to the unrelenting bond holders to pay
the interest of which bonds the laboring
classes will be ground into the dust by their
saskmasters, and ON the runs OF our gov
eminent (caused by our neglect) will be
built such monied aristocracy as to-day
curses the older countries of Europe and the
world. What we want is protection, such
protection as free people can give them
selves, when standing by the balios-box en-
joying the right of suffrage, and not such az
we ges from political parties, which is very
much like the protection Glands get from
!olyes-frst covering then devouring
hem"
Now in reference TO our foreign trade poll.
Y, tariff or no tariff, is problem that
--Lust be solved by every commercial nation
on the globe according to locality, natural re-
sources and population. The object OF al
good governments is 10 protect all their clt-
zens or subjects without passing laws which
grant special privileges to any class OF clt-
zens. Then We want first, as Il basis TO pro-
lection, a paper currency III the form OF treas
ury notes. nearly like the present green
bscks,' differing from them in not being ex
changesble for United States bonds. This
currency should be made legal tender for
all dues of any kind whatsoever TO the Unit
ed States, persons, CORPORATIONS, not except
ing interest on the public debt or duties on
imports. Ooe-third of the public debt could
be used IN this way, which would give US
about $500, 100000 as circulating medium,
which is more than is needed to carry on
our commerce and trade and make the ex-
changes of the country.
Second. This would give protection to the
taxpayers equal ID one-third Of the interest
on the public debt besides, one-third of the
public debt need never be paid or, the mon
ey needed for circulation, more or less than
the above amount, could be of this kind, |
which would be always reliable as based on
the credit of the nation the whole people |
ton against bankers, sharpers, money mon |
gers and financial spectators OF all kinds, |
and could be issued by the treasury depart. |
ment to pay the expenses OF the government
ana redeemabie in the wealth of the coun-
try.
Fourth. 1t would give protection to our
manufacturers The adoption of this cur. |
rency is, think, the emily feasible way of
Justly protecting o:her class of producers in
the country. For instance, it il ID our inter
est to exchange products with other countries
or buy no more than we sell; this would In.
sure our national prosperity. This we can
accomplish by making our currency national
mot In name but in fact giving all tax pay
ers the benefit Of it, and not exclusively the
bankersl and not International, as gold and
silver Is, by reason of it's commercial value
being equal before it is coined into money, to
It's representative value afser it is made into
money. Hence the Disadvantages to US of
gold and silver currency. We may continue
to dig gold and silver for the purpose OF fur.
nishing medium of exchage for this coun.
Try and England, and other countries will
Just IA surely draw it from us by furnishing
us with necessaries, luxuries, and fashioua-
bic gew gaws, and thereby add to their ma
tsrlaL wealth, while they detraot from our
national wealth.
per currency redeemable only with the
wealth of the country, such rs wheat, corn.
pork, beef, cotton, tobacco, whisky, houses,
lands, or any other kind of wealth, and if
foreign nations wished to deal with us thew
would have to take our products in ex
cnange Tor theirs, as our currency would huy
our wealth and not our gold, only as in the
mines, but not In coin. Then il would he
good policy tor US to pay our present forsipn
coin obligations as soon as possible, and ston
making gold and silver money. and stop max
ing contracts to pay in gold and silver monev
Let US make paper money in the interests
OF the whole people. LIST. As a saving If
time and labor. I'd. Because it is the most
convenient. Sd. Because it will protect the
taxpayers. 4th. Because it protects our cur.
rency from being drawn from US BY foreign
nations. 5th. Because 1t will protect our
manufactures from irregular and sometimes
such changes in our markets as are fatal to
their prospects. 9th. 1t would also protect
the Union, for if all were interested in the
currency, and it was based ON the credit of
the governments and people, it would become
bond OF Union equal to the amount Of mn.
ey in circulation. " Ai'n-
1p.., A. j. OSBORNE. |
Erie, Whiteside Co., ILL.,, june 28th Iaee
->es-------- Il