The weekly Panola star. [volume] (Panola, Miss.) 1857-1881, 1866-06-30
Buf tammeFflal and FlaaaflaI
AfiAllehs,

#fNHNf"#"N
However mitch mf tfopla NAV h
interested " ilis political I,saas N a.
day, ihty maal fememlrf lhsi A.
nail'm i fuflmsly connected wllk
egminefelal sod faaaelal aussiims.
Man eanh0i lise lg lfead alane. nor
can The lrsIy pplille attain n 4 hlab
'legfee n health W. Fasting m AZ
Hfuci principles, hfweyef elevated
No cemmcrrial naiiao ran ignore lbe
established fulesof faliliml economy.
The very hei N heihs eammerrlal
implies exterior associations and 4
cosmopolitan interest In Me neefa.
NJ countries wlih which our lradIny
operations are conducted. Nations
which trade with cnch other expect 4
periodical payment VI aaceriained
balanccs, and The more prosperous
the nations are, The more pfonpiIy
will they meet and cancel their csIsi
Ing obligations. These trading ope.
rations may not bc conducted by na.
tions In their national character, but
they are, nevertheless, sufficiently
comprehensive 10 affect the general
interest, for national and individual
prosperity are so intimately blended
that one cannot well exist without
the other.
In order TO meet the cxigencics of
trade, the principal commercial na.
tions were obliged to settle on some
object Of universal desire as an cstab-
lishcd standard and representative Of
value. The article selected was gold.
When that Is rendered to a creditor
II Is invariably accepted, if il be Of q
certain weight and q certain degree
of fnencss. To give any other rep
resentation Of value a fixed import.
ance as n circulating medium, that
representative must be rcdeemablc il
gold, and It's appreciation by the pub.
lie will always depend on the certain.
ty or uncertainty Of its redemption
"on demand" The precious metal
are regarded as the best representa-
tives of value, because they have
fixed value in themselves, and ar
not subject to any sudden or violen
fluctuations. This can not be said o
any paper currency, no matter how
well it may be fortified by pledge
, for itsultimnte redemption. Apape
| currency is highly important to III
/, interests of commerce SO long as it !
| convertible at pleasure into gold, bu
an irredcemable paper currency is, a
, best but a poor make-shift. II fos
tiers gambling spirit, throws I'm
earned values into the hands {
schemers, spectators and broker
and taxes operative industry with III
r whole burden Of its depreciation.
: Any nation desirous Of keepin
5 pace with the movements Of the worl
| must have a currency which is aC
} ceptable throughout the world. Fc
a great country like the United State
, to declare anything but gold and ST
D yer a legal tender is treason to th
r Constitution and a wicked sacrifice
> kthe commercial integrity of her pee
J, pie. Had not this gambling exped
!, ent been resorted to, shoddyites an
s army contractors would not hay
: made such fortunes out of the wa
the national resources would not ha,
| been squandered as they were, an
I the public debt would not bea fourt
Q of the amount of that which no
r weighs as a milestone on our nations
r energies. BY the use Of an unsoun'
: inflated currency, our people hay
t also been seduced into habits of e.
d travagance which have had a mo
e demoralizing effect. The burdens
S our individual and national oblig
S tions should be suggestive Of econ
s my, but instead Of that, they seem
o have brought with them a new ho
s of artificial wants which have be-
c stimulated by paper issues "of sp
: cious from but doubtful promise"
d In our foreign relations the issI
Is Of such immense amounts Of irr
d deemable paper has been equally III
o fortunate. II has completely clos
o the ordinary avenues Of exchange al
n deranged the calculations of our nc
e far-seeing merchants. No man C
'e tell how much Of our "legal tende
d greenbacks will be required to pay
/ thousand pounds in England
" France a month or two mont
8, hence.
y So long as our common commerc
N standard Of value is subject to Vi
p lent fluctuations, extravagant pri'
will necessarily be demanded
IS every article which enters into |
+ long list Of human Requirement
h The advantages Of the system fall
&c the few, the losses to the maj
ht Every consideration Of sound poll
in whether domestic or foreign, shot
or promote an immediate return to
/ old Jacksonian standard of finan
| The able Secretary of the Treasl
ed is anxious to bring about the desi
i'll BILE consummation. Why is il Z
ne selfish obstructives in Congress thw
no him in his aims?-N o. Times.
DIS One Of those over-modest, diiid
hn 4 4 ..lzm. A. l., /. e.