Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1866-01-11
8radford geporter.
ToWanda, Thursday, January IL, 1866.
THE NATIONAL CURRENCY.

In his message the President says: ut
is our first duty to prepare in earnest for
our recovery from the ever-increasing evils
of an irredeemable currency, without a sud
den reyulsion, and yet without untimely
procrastinaton" This is salutary advice
and we hope the currency tinkers who are
writing for the city papers, and are urging
upon the country the necessity Of an imme-
diate resumption, will heed it We are not
prepared for resumption, and if the present
Congress does anything to force this upon
the country, it will retard, but will not ad-
vance the object. Every man who can rea-
son on this subject, or who knows anything
OF the history Of financial convulsions, can
not fail TO see this and the question is,
why do the money editors of the city pa
pers urgethis so strenuously upon the coun-
try? We account for it in this way. These
men, with few exceptions, are at the beck
and the bid of the heavy capitalists, and
they write to suit them. -Four out of every
five of the moneyed articles which appear
in the city journals, are the money-grinder's
orders. Not that the men who write these
are indifferent, or actuated by improper
motives. By no means. The man who has
acquired large fortune by shaving paper,
or fortunate speculation, at once becomes
director. or perhaps president of a bank,
o,J ie cot Il
People run for him for counsel on this sub
.iect, and the poor scribers among the rest
believing that practical, is better than a
theoretical ,inancier And then, what is the
guiding spirit Of the capitalist? Gain, gain
gain. As a rule, mercenary to the last de-
gree, he advises, he plots, for gain and
pecuniary revulsions are his harvest-times
He contrives, he forces them on the country
whenever he can, hence his present efforts
to this end. If he can invest his millions
in stocks, real estate, or something else, at
one-half, or one-fourth the ordinary value,
he will double, or quadruple mis- Millions
Commodities sink in value in proportion to
the severity of the crises and we have
known some State stocks to sink to tlcenty
| cents on the dollar, and in a short time, be
again at par The moneyed man has the
difference between twenty and one hundred,
for his gains. So that two results are GER
tain to follow monetary revulsions, viz: the
reduction i'll value of all commodities and
immense aCcruing gains to the capitalist,
and as a sequence, he is using his power,
to its utmost limit, upon the government,
and the people, to delude them with the fa-
tai hcresy of immediate resumption.
That which amazes us most in this mat
ter is, that papers, that are otherwise
friendly to the government are daily teem-
ing with villainous abuse of the govern
ment's financial measures, and because it
does not at once meet its own engagements
with specie, and then force the country into
specie payments, making themselves ridc-
! ulous by urging impossibilities, and subject
ing themselves to the charge Of disloy atty.
| For ourselves, we can not tell whether such
papers are for or against the government
Under the editorial head, Copperheads are
berated with terrible invictevcs, and the ad-
ministraton is Iauded with fulsome adula-
| tions Under the Commercial head, the
government currency is pronounced a
fraud upon the people, and the manage
ment of the Treasury a swindle :" and who
can tell whether such papers are for or
against the government? The presumpt-
ion is, that it is little odds where they stand;
but is itnot lamentable, that men will assume
the garb of friendship, that they may more
effectually injure the country
All our people, in the country as in the
city, desire a redeemable currency, and the
large majority are willing to make sacrii-
ces to this end if this is required but is
it we contend not Nor do we ask for "un-
timely procrastnation" If the country is
prepared by moderate contractions, and la
| Dor is allowed time to aid in absorbing the
| redundant currency, there will be no rcvul-
sion, but "a gradual gliding into a sound
condition; and any expedient that is re-
sorted to, which does not make provision
for filling up all the avenues of labor (until
this commodity declines in value must re-
suit in disaster.
\FUSP,pEp IIfppnvpurvr, III, o1.o,4