The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-10-30
WEDNESDAY, sroKNrSe. OCT 80


TIE Government bonds hold their
own with considerable brmness, not
withdrawing all the talk about unlim-
tied issues OF currency. They quote
higher today than they did TWO weeks
ago, and the probability Is that they
will nos fall to par very soon.
There may he some nervous and dis
trustfuI persons who feel disposed 10
sell their invest rnents under the appre-
hensiou that the Democracy will get
into power after while, and inaugurate
Inc proposed paper money era. Such
persons should hesitate long enough 10
examine the probabilities OF the situa-
lion.
In the first place, It's fact that Con-
gress alone possesses the power to reSu-
late the currency. The Union party
have an overwhelming majority in both
houses, and will hive for Two straight
sessions Hhend, or up to the 4th of
Mnrcn. 1863.
10 the next place, all acts in regard
10 the currency must receive 4 majority
in both houses OF Congress. The Uni
ted States Senate Is not likely TO lose its
Union majority for the next four years.
At present THAT body stands Il Republic
rausto u opposition. The House stands
l44 Republicans against ~ opposition.
Two years is long time in these lat
ter days. Revolutions and counter
revolutions Of public sentiment occur
in that period. The vote this year may
or may not be the verdict of another
twelve months. IT would not be much
of risk to say that the Republicans
will next fall carry thTee.fOurlhs or NIL
the States. So Ina; the danger OF a
democratic Hood-ride OF paper money
is not so imminent rs some people may
suppose.
Tie whole currency question IA un-
dergoing minute and powerful discus
sion. II naturally engages the best
talent and the most practical experience
and highest common sense of the
country. No one party is unit in re-
gard To finRlIty. Governor seymour
OF New York, and the Hon AIr. Cox,
both Democrats, combat the ideas OF
VallandIgham. Peudlelon and Thur
man, while General Butler and Horace
Greeley Hutagonize each other quite
radically and warmly. The New York
World, and the Journal NJ Commerce
both Democratic papers, give the cold
shoulder. If we understand their po-
sition. 10 all ideas of paper expnn-
sion.
n great deal OF talk and buster has
been heard about paying on the debt
III greenbacks. There is yet the
world wide difference between theory
and practice in the matter. People of
all parties are in the same boat on that
question. Partisnnshlp can draw no
lines rs TO the result OF II financial poll
cy. Like the sunlight and the rain it
will affect alike the just and the unjust,
the rich and the poor. What is pros
perity for the Democrat must be pros
perity for tho Republican, and vice
pes-Sa.
We are hnrdly under way in the
discussion OF this great question,
and yet we Imagine that the paper
money bnlloonists have put forward
their best presentation. Their project
resembles the bumbIe-bee, biggest
when born and bouud to gradually di-
minish. The more the balloon theory
is punc,ured with facts and figures. the
more certainly does it seem bound TO
collapse ere Ions. Those who have not
made financial matters any part OF Their
study will come 10 understand al
length that paying or the debt by
adding millions more TO the currency
is simply grinding taxation in its mosi
Intolerabls form. 1t is the pre-em
Inent programme for taking bread oui
ofthc poor mans mouth, for the reason
that 1t would initiate every necessary o
life TO fabulous prices, while IL wonl'
but slowly raise the price of labor.