The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1867-12-12
NUMBER 2.

insure its fitness for these func.ions.
II is not the theory Of this Govern
ment that public Offices are the prop.
orty of those who hold them. They
are givou merely as trust, for the
public benefit, sometimes for fixed
period, sometimes during good behav-
ior; but generally they are liable 10
be terminated at the pleasure OF the
appointing power, which represents
collectively, aud speaks for, the
people.
Forced retention 10 Office of a single
dishonest person may work great
injury to public interests. Danger 10
puoiic service comes not from powor
TO remove, bu, from power to appoint.
Therefore it was that the trainers OF
the Constitution left the power Of
removal unrestrioted, while they gave
the Senate the right to reject all
appointments which. in its opinion,
we're not 81 to be made.
A little reflection on the subject
will probably satisfy all who have the
good OF the eountry at heart that
our best course is to take the Con
stitution for our guide Walk in
the path marked out by the founders
of the Republic, and obey the rules
made sacred by the observance of
our great predecessors.
Tag NATIONAL FINANCES.
| The present condition Of our hnanoss ani
! circulating medium is one 70 which your ear
. " consideration IA invited. The proportion
! which the currency Of any country should
! bear 10 the whole value OF the annual pro-
/ duce circulated Or its means, Is a question up.
| on which political economists have not ~
greed nor can 1t he controlled hy legslA.
7 ton, but must he len 20 the laws which crery.
/ whore regulates commerce aud trade.
! The circulating medium will ever dow "a
| those points where IL Is In the greatest do
maud The law of demand aud supply Is ~
unerring as that which regulates the tldes OF
the ocean and, indeed, currency, like tho
tide, hNs its Gibbs and aows, throughout the
commercial world.
~ the beginning Of the rebellion the hank
note circulation VI the country, amounted 10
not much more than two hundred millions Of
dollars. Now, the circulation of national
bank notes, aud those known as legal tenders
is nearly seven hundred millions. While Il
is urged by some that this amount should DO
increased, others contend that decided 70
ductiou Is absolutely essential to the best in
terests ct the country.
In view Of these diverse opinions, Il might
be well TO ascertain the real value OF our pn-
per issue, when compared with metallic OF
convertible currency. For this purpose les
us inquire how much gold and silver could
he purchased by tue seven millions OF pApes
meney now In circulation. Probably not
more than half the amount OF the latter
showing that when our paper currency a
compared with gold aud silver its commercial
value s compressed into three hundred aud
ifty millions.
This striking fact makoa u the obyious
duty VI the government, as early "a mar bs
consistent with the principles OF sound poli-
tica economy, to take such measures az will
enable the holders Of It's notes, aud those Of
the national banks, to convert them, without
loss, iulo specie or It's equivalent.
A reduction Of our paper circulating me-
dium need not necessarily follow. This how
ever, would depend upon the law OF supply
and demand, though 1t should be borne In
mind that by making legal tenders and pank
notes convertible into coin or its equivalent,
their present specie value IN the hauds of
their holders, would be enhanced thereby
one hundred per cent
Legislation for accomplishing result 70
desirable, Is demanded by the nighest public
cousidera tons. The Constitution contem-
plates that the circulating medium Of the
country shall he uniform In quality and
value. At the time or the formation OF that
instrument the country bad just emerged
from the war OF the Revolution, and was
J suffering hom the effects Of redundent aud
worthless paper currency. The sages ofthat
period were anxious TO protect their posterity
from the OWLS which they themselves had
experienced. Hence, in providing n
circulating medinm, they conferred upon
Congress the power TO coin money and
regulate the value thereof, at the same tins
prohibiting States from making any thing
but gold and SILVER a tender In payment OF
debts.
The present anomalous condition
Of our currency is in striking con-
trast to that which was originally
designed. Our circulation now EN-
braces, first: Notes Of National
Banks, which are made receivable
for all dues to the Government, in
Guiding imposts, and by all its cred.
itors excepting in payment of inter-
est upon its bonds and securities
themselves; second, legal-tender
notes issued by the United States,
and which the law requires shall be
received as well in payment Of all
debts between citizens as of Gov.
ernment dues excepting imposts /;
and third, gold and coin.
BY the operation of our present
system Of finance, however, the
metallic currency, when collected, Is
reserved only for ono class Of Gov
ernment creditors, who, holding its
bonds, semi-annually receive their
interest in coin from National Treas
ury. They are thus made TO occupy
an invidious position, which may be
used to strengthen the arguments
Of those who would bring into dis
repute the obligations of the nation,
In the payment of all its debts
the phghted faith of the Govern
ment should be inviolably main
tanned; but whileit acts with fidelity
toward the bondholder, who loaned
his money that the integrity Of the
Union might be preserved, itshOuld, /,
at the same time, observe good
faith with the great masses Of tho
people, who, having rescued the
Union from the perils of rebellion,
now bear che burdens of taxation,
that the Government may be ahls
to fulfill its engagements.
There is no reason which VIII be
accepted as satisfactory by the pec--
pie Why those who defend as onland
and protect Us on the SEQ, pensicn-