The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1866-03-15

2 aud are finally adjusted by sl,OO'
broken this time, perhaps, iuto small
er parcels oftransfer checks drawn o
: the general clearinghouse fund {
coin and grccpbacks. Nobody, thu
far, has fingered bill, bank bill Q
greenbOok, or has cared whether th
" currency" is inflated or contracted
but the tea finally comes into th
hands Of the grocer, who retails
over the counter by the pound or th
louncc, to men who work for two do!
Y lars a day, and who must have thei
pay at least every Saturday night il
I greenbacks aud fractional currency
Hero is trade which involves th,
transfer ofmoney for every cent Of il
amount. The laborer who spends al
he earns, uses paper dollars to tn,
extent Of his earnings. Those, il
like manner, who employ Iotorers mus
have currency to the last cent Of tn,
fwogcs they disburse. The owners oi
every factory, mill, mine or Workshop
are in that predicsment In short
the productive industry of the nation
must have nn abundant supply ofcur-
rency the great traders Of tho com.
mcrcial cities manage their operations
by transferring bank credits without
the use of coin or bills, except in very
triiling proportion to the sums in-
volycd. Az we rcccdc from the great
centres Of trade to the smaller cities,
the villages large enough to maintain
a single bank the hamlcts and,
finally, to the opon country, we fnd
that each remove that every man in
the community an mountaineering as
the magnitude of his exchanges de-
crcascs, as the distance between him
sclfand those'hc dcalswith widens, and
the time intervening between his do
ing his work and the disposing of its
products is enlarged. Thus, the dol
lar which, in New York, passed
through % hands in a day, is, in Wis.
consin, % days in going from the
farmer to the blacksmith, aud 2j more
in getting from the latter to the coun
try store where he buys his iron. The
farmer has to wait for the wheat bar-
vest before his dollar comes back TO
him, aud all the while he is waiting
for il has to keep another dollar for
his daily wants.
" Hence it is that being an agricul-
tural people, and scattered loosely
over magnificent distances, oar obso.
lutte necessities would call for larger
supply of currency than sulliccs for
an equal populatinn in France or Eng.
land compaotcd in space and divcrsi.
fed in industry Yet each of these
has twice as much per heal as we have
aud they are not accused with pletho-
ra or imitation. Who is it that il
pinchcd when tho currency is con
tractcd &? Is it New York where they
trade in checks, or Wisconsin where
they work for grcenbacks2 Where
is that" ovcrtrading stimulated aud
wild speculation encouraged? Is il
Wisconsin, where they must have q
comparatively large supply of green.
backs for each inhabitant in order to
even n sluggish circulation of the pro.
duets of honest toll, or Wall street
where fortunes are made and lost in q
day 10y gambling in stocks without
employing dollar bill, and the fund
for doing it is manufactured by the
deposit of a promissory note? Every
grccnback reprcsentsscrviccs rendered
or materials furnished TO the Govern
mcnt Every national bank bill re-
presents more than its own value il
Government bonds issued in payment
of such service aud materials The
quantity of each is limited by tn,
public will, But what limits dcposit
made by discounts, on which Interest
I is received for S25 and but 81 has tC
be produced at the clearing house =
win honorable gentlemen consider
whether il is not worth time TO hay,
an answer to thatqucstiou, aud whoth-
er it might not be quite as well topWt
"a limit to these bubbles of imitation,
blown up that private persons may
get interest out of wind, instead o
Withdrawing grccnbacks which sdr
interest for the nation; or hollin
back national bank bills, iov ever
one of which a larger sum stand
loaned TO the country
RI ~
Correspondence Of Tribune,
SUNNY SIDE, IAZoo Co.