Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-11-11
THE CURRENCY.
Letter from Thad. stevens ON the
Currency Question n-B1ndh oIders
and Greenbacks-WhatC Congress In

Letter from Thad. stevens on the
Currency Question -Bondh oIders
and Greenbacks-WhatC Cong ress In
tended. i ,...
New YORK Nov. "a letter from Hon.
Thad. Stevens, on the subject of our ma
tional finances, is published. 1t is in reply
to letter addressed to him by neighbor,
aud is very long and comprehensive. Mr..
Stevens commences with the assertion that
So far as the financial condition of the
| country is concerned, it is not nor never
can be in any doubt or peril. With the
| products which We can readily dispose of
to SUPPLY the demand of every kind, there
never can be a time when, with honest
dealings, this republic will be unable to
pay all her just liabilities. He says: l
have not approved, aud do not now ap-
prove, of the financial policy pursued by
our government for the last six years. I
| think we have thrown away our billions
and are still throwing away millions by
| mismanagemeDt. yf..a t7a-+
Then, addressing his correspondent, who
is a national banker, he says: You are
banker, and sound one, but you are max
ing more off the United States-throueh
| the National banking system, as every
other man who has adopted it-than you
ought to make" He has nevtr doubted, he
says, that the Government has the consti-
tutional power to make money of whatever
per. leather. tin or ore, nhacks and to res-
| IIlate its value; and, therefore, legal tenders
are, to all intents and purposes, the lawful
money OF the cOuntrv-mOney in which all
debts. public or private, may be legally and
makes it, He refers to the tact that the
Goyernment has. ar different times. radnreS
thp prire of silver. and that when en- reduc
cd r was maJa to ross to eyery or,ditor
a. we'll NJ debtor at the original nrice ond
argna. that there il tba same now to ;ssna
a ID reoulate the value of anv other Kind of
moneT He n,aintains consaonentIr tbat
If ;s inst and nronar fnr the Gnvernment to
raw tha nationaI debt in 0reenhsct IawfuI
money. Q "
Referrino to the deht he savs. Now Iat
us come TO TIE Government loan. and for a
single moment consider IL vJ;cb eyan
withont the mopStrnus doctr;,e Of Gre.Io,,
and Cooke IL il 1be most nrotitahIa ;nvesf,
ment ever made bv money Ienders and il
a monstrous swindle on Americans on the
part of European capitalists. However,
he would pay in full the rich capitalists
and Spectators who have made princely
fortunes through the folly of the Govern
ment; but he does not think there is any
obligation to force specie payments in Or
DER TO pay Two or three times over what
they are only and justly entitled to. He
shows beyond contradiction, that in Great
ing loans there was no intention on the
| part OF congress 10 commit the Govern
ulehS 10 Ihe payment OF the principal IN
coin, except where this was expressly
mentioned. Inc matter was wen consid,
ered ana Wen UNDERSTOOD at the time, and
the oondholders nave no reason to COM
piain IL pald IN legal tenders.
Speaking OF this moneV Mr.. Stevens
says: FOR TWO years the greenoachs were
the most popular currency ever USED IN
tne United states, and' nad there been no
other, would not nave Iailed TO ouy every
necessary commodity ior every use, puolie
ana private, without complaint; aud II 1t
sweiieG tne currency OF the country, IL also
swelled business OF every KIND. foreign
shi oomest1c, agrlcuitural az manuiac-
| Iuring's so also IL sWeiieu the income OF pu-