Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-03-04
PAPEFS zONEE



Two volumes o. an American elition of Mar
tins History OF France have already ap'
3 pe4ired. They cover the period commencine
with the decline Of the French monarchy and
i ending with the revolution oflIs4. An iusianc
/ or financial imitation, by whioh nation was
I beagared. is peculiarly interesting al present
! Thsrene-tions or Ny Martin upon the subject
/ of paper money are SO valuable now that we
I make room for q few extracts:
! Tag5rr which is almost valucle.s. cannot fli
the part OF The precious metals; 20 can only rep
resent thefn hy Noiuui,l9 a-l-eutlit- lfit. .l.tle
cannot create value iilal ls, make sonnet iliiis
Z our OF NOTHING amy more than lrlN axe iugii-
yuualS. % Sfl1siai f-t-fs tAlNllAE NaiAesi u 4t
abruptly and arbitrarily claug,1 the relations
of the metallic currency 30 aGCc ar iuiqILuous
ana absurd thing as law himself CLEARLY de-
I ucnstrl-es in memorial OF l5i2. When the
.he xen Of real estate or otner
values w nlrl ine pc per represents; Do does act
ere-le HeN Vaiss. Lie loet Jii.tt ite sis.5e
creti es value IS li-acE ol tAe ieslsi-s o. The
Middle Ages -t ls ny tats sDphl~iu tIs-t they
jus .ined the royal co'uers' Philippe the Fair
Paper being unable 90 be taa equivalent OF
Vpcell, its compulsory currency is therefore "a
va8iation Of economic laws; if tlis violation
llluy Boz sLutaTE iA certain cases, it Is like lli
those measures ut puifilc safety whlrI Nlol3lc
certain laws ia the name OF higher laws Do is
economy Nlfilg tu p2iilt ii p oifell'iial cur
renev; b is the assyisgf posed siisr of ,ai-
llH..fE all children country
danger. There are ii~i otc remedies, Wntcii we
r-uauure as -a,tl 5- we refHn t1 normal
-i.ste. sld which are weapons of war, and not
Instruments or reform.
Tile compulsory currency ul paper would not
GaNr been necessary if lile project ol the bank
and ale general o1tt Iiilf liia peen com pt,, F
member must receive tue paper emitted by the
4.HHIr-F. NDfF Lle whole uatlUu. tile hole
STATE. being associated. the pep would latu-
ElllE have ba'n lufl-ut every 'f here llis irea
s.. nation worRIuE as single man tagiastes
tsa Imagination, uut apiais tile reason.
-EFEare lat Iul-s llsl Iiselty 81 the priueI pie OF
l4- progress, could preserve l5- pla2 ll slclI a
mechanism, what hands could ever be strong
enough ana glsa enough 90 Is-1i5tg sil The
l.rt lL the system The states q banker, pals
is less Khan Tie system complete.
Here is q striking picture of The mania which
possessed the peoD.- crFrauca at t,.e time when /
Laws scheme was most popular
"a WhoLe=- not know hy tradition thar narrow .
lrA ainsY 1-le gum, .hlp p'-1l lle 'ea.el oi I
stock Ejo1ni;3g, with its Ih1us'lld offices, Nlt.i'i
i.ar SIX u1CnrIs rU~l@i -lu rlrcn god -I' z iris /.
40. srlnce and all Europe where ranks. sexes I
me cli-r-lt order. 'l skate. great L1I4a and pil-
Gals merchants and clerks. fi--sters and Wallets,
court! !'.dies ana women OF .fIc town. mingled .
quality lLCupltItE, t.ie gl l.'Iltf % p DHE. ANA .
what piayi jun-ari1i InHtULes Wore lLI1e 4
--ii,i'vA ~ q i--H 81 iii- Llii i'l't't'-s ti-r
lrrlages behind which they nai mounted tii=
be-. HH. d. .HH
.f..-f- -f,,..,i- -4- H.. IL XIV ,4.TIf..,.-7
-.--i. ,f -t..,rs III rI,- .l.rf.. b.. IN Ig, ..... b..
'- persons sl jile primo - par. .. .i'- "-.,ifii-
5-I- .,5 ~. f.rrla-e lsr t.a r-.,-a-ua The .s
f rT.s r,-.5l.- 5,lf tH.. bf.I...r NOM Il.
a- .5.-s.. .If r5s ...5-.f-- .l.5. rTl,. .,..I.t
.sfI7fle Who -s1,rar-lI down sf.l.e ..ng fagts
.fa. H..r rI. hands r-... str.. ONT. t, M.
.l.Ia- and flrailsr its d.. rI. H5..rfl5 IIgs.-
sr.4F b.. r1-H.r t.r-.-r.. af.s,rr9f. pgt rfs .
.rf#. wholly canned away f.y In. rf..Ta
..rr...I~a e.-Iraa.s .I..slrad o.. rf7..lIl7. F..L
Nd t---I ne -rvf. ..t IA. lf 4.-4 o.
.r.,l.r. aI s..sasl ftII...- who's. a.Ila-- HaT
.al redeemed f..f-sTg.i 60 invest t.- fi1r.ls
Do -I.-.- slr-fi.t..- ..r1 came 90 a,....1. fIs
ll.fflltfsu f.5 rf0nr ~ It ..- their rs . .r fss
lIrIlrgs info g. Ou their own ar-lrfFI. foreign
1r..r,r.r#r- IHfitlfa-g curious -f..,-aIar-. .f-
,.rGtr.s.r- ..r. fu.H..sE-H.
I5Iyrr7- anal ri.. ..Ira... .rrra15ad f ,.rsf ru
.n fr.,..5-i -fs-- f.H...sr.- -r,,+- 4.-- v
...r. '-7 almost as -.l.. s. BE-. .lf.-.I- .-l..T s.
rrefsru-.f fg- r... lftr.rI tIt. rrrrI .ss... I
-.f rr.I -Frtsr u .r.I eve 81. mere
.r srls.-r gi --.l auI u.Ig.H- rl.- .Til.it.- .f