Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-02-13
Doubtless The pleasure is as great
OF being cheated as TO cheat"
The CurrenCv.

We last week gave Mr.. Morrill's able speecb
upon the currency. This speech has been va
riously criticised, some friends of an irredeem-
able paper currency endeavoring to neutralizs
It's effective arguments in favor Of a contrac-
ton OF the currency, by styling it mere jun
bic of figures. Generally, however, the speech
is praised as an unanswerable argument
against the ipfationists who find their profile
IN fnctuating values and high prices.
1t seems now probable that the most that
can be expected OF the present Congress is
that they will leave the currency and finances
OF the country no worse than they are to-day.
The inhatlonisss appear TO believe tia, an If
redeemable paper currency is just as 90 as
any, and that there is no reed to get back to
specie payment, or even approach that inan-
cial condition. They endeavor to ignore the
universal law of supply and demand, as gov
erning the value of currency as well as of the
commodities of traffic but pretend to believe
that eight hundred millions of paper money
now. against one quarter that smount six
years ago, has no effect upon the value of that
paper money in the market. With gold, and
all other articles OF commerce, rated at a val
ne which makes a paper dollar worth only
about seventy cents, they persis, in resisting
every effort to contract the currency until it
shall be worth dollar for dollar in gold 1t is
not surprising that such fnanciers should crit
iclse MIR. Morrill's speech on he currency.
We can see but way out of thi. dihs-
Guilty. The government and the war com
piled the PEOPLE 10 make paper dollar pass
as dollar IN payment of debts While the
war lasted there was some excuse for keeping
up that form of currency, although at times
that paper dollar was worth in gold but forty
cents But since tt e hes ended there is
ID longer any excuse for government ard
people refusing TO come back as rapidly as
possbi to specie payments. The government
must practically resume specie payment Ii
must redeem it's greenoacks in gold or in
sucb bonds as the people will he ready to take
II exchange for gold. Greeuta have been
IN de legal tender, and they must remain
70 while they are kept in circulation But
thay should be withdrawn from circulation;
and this can only be done now, by either
using the gold now in the treasury. beyond
what Is wanted TO Iay gold interest to buy
up greenbacks, or by issuing "a new four or
five FER cent loan. selling it for greenbacks
The gree nbacks thus called in should not be
Te-lssued, but should BE- destro, ed The
country would IN that way, as rapidly as
possible, be freed from a currency which has
DO fixed value, but Is worth more or less as
he bulls ard bears of Wall street choose to |
IN Ike il.
This, however, is just what the spectators
7on't won't; and vote in the House las,
week indicated that the SPECTATORS have a
majority in that body. They had similar
majority rome time ego On ID proposition to
AK whiskey on hand aud it was more than
Inspected then that improper influences Sc
ured result by which The revenue was
efrauded of millions which went into the
ockets of wh;skey SPECTATORS and their
riends at Washington. The speculators
ould sford now to buy a vote in favor of a
irFedeemabe paper currency by
aging millions for it but we hope Congress
i'll not again give occasion for the suspicion
bat it is controlled by gamblers in produce,
end stocks