The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-05-01
, r,n,Dci.l neetlnE at ParAersburE.

A Financial Meeting at ParAersburx.
The Parkersburz Tunes of Monday
furnishes Us the proceedings Of eiti-
zeus' meeting held in the Court House
in that place last Saturday afternoon
'fn regard to the financial difdeulties
of the county" Among those who
took prominent part in it were Messrs.
Okey johnson, J. E. Wharton, John J.
jackson, sr., and J. A. Hutchinson.
The following resolutions were passed,
as we are told, with but one dissenting
voice:
WHEREAS, Our Government, in pass
ing through the late terrible conflict
with a portion of It's people who resist
ed its authority, found Il necessary "a
extend its credit beyond the capacity
OF the country Immediately to pay, and
to prevent a fatal accumulation Of q cir.
cuiating medium, to issue its bonds
with extraordinary interest, and with
privileges not enjoyed by those in the
ordinary business Of life; and
WHEREAS, Said bonds were sold by
the Government under an inflated cur.
IsuCN 1t less EuAu GHGAE *
a normal condition, thus doubling
their value to the holder; and
WHEREAS, the war now being closed
and the confidence of the people in the
capacity Of the Government 10 sustatn
itself and ultimately pay its indebted
ness being fully established, we hold
that the currency issued by our Gov
eminent. is the best and most reliable
oTany that we have had or can have
and
when the Government should seek to
establish the strictest economy in all
her expenses, and to so manage her at
fairs as to eQualiIs among the people
the heavy burden of taxation necessa-
~ to the payment OF the expenses en-
tailed by the war and the interest Of
our public debt; be it therefore
Rsso[ued, That We, citizens of West
Virginia, feeling alike what is due 10
the rights of our people and the honor
and integrity of our Government. do
hereby recommend change Of policy
in the Treasury Department., and the
establishment as q permanent system
the issue Of circulating medium by
the Government, and the calling In, as
far as practicable, Of all inLerest-pay-
ing bonds that were issued during the
war in exchange for said non-interest-
paying issues.
Resolved, That we regard the circum-
stances as such as TO justify the de-
mand that those bonds shall be return
ed TO the Government, on the holder
receiving bills to the amount current.
Resolved, That our Senators and Rep
reSsntatiyes in Congress, be and are
hereby requested to use their influence
and votes on all occasions to prevent
the Secretary Of the Treasury from con-
tracing the currency, and vote in all
cases for the extension thereof
Boiled down, the foregoing resolu-
tons mean as follows: That the gov
eminent should revoke its promise to
pay either gold or currency interest on
any OF its bonds; that it should by pro-
cIamation call them all in and pay
them of in greenbacks; that instead of
eight or nine hundred millions of cir
culation, We should have circulation
equal to the whole amount of the debt,
say twenty-five hundred millions.
All our so-called gold bonds are re-
deemsble after i've years, at the pleas
ure of the government, in currency,
except the Ten-Forties, which are ex-
pressIy payable in gold, principal and
interest. The first issue OF Five-Twen-
ties is redeemable now II the govern
nnent chooses to issue greenbacks and
take them up. 1t is true that the pop
uiar understanding is that they are
payable in gold, but it is not so written
in the bond save as TO the interest. Re-
Gently the Chicago Tribune has taken a
position near akin to that assumed at
Parkersburg, viz: that as fast as these
bonds become redeemable they should
ba paid OF in currency. The Parkers-
burg idea is to call in all the bonds, sos
and 7-Sos, whether redeemabIe or not,
and pay them all OF sa aasSe and have
a currency circulation about foot deep
throughout the country. The effect
would be, Of course, to vastly initiate the
prizes of everything, and to put up gold
TO most any higth at all. The COM
Pensating advantages expected are, We
presume, that labor would correspond
ingly advance in price. aud that the in
dustry Of the country would be i'm
menseIy stimulated; that taxes would
be largely reduced by the stoppage of
all our interest, and that the amount
already due would soon bs paid of by
the increased production. of the country,
Money would abound on every hand,
and eVerybOdy's market basket be full
oft. All our bonds would of course be
sent home from Europe to be sold for
whatever they would bring in gold.
We should see all sorts OF bonds and
stocks up In the hundreds, per-
haPs in the thousands, and speculation
would at last fiud a millennium sur
passing all the Authorizations Of John
Laws famous Mississippi Bubble.
We question if the very last days
of the Confederacy, when gold
was at thousand premium, realized
so romantic picture as We mightexpect
to see.
AMER reading that theresolutions pass
ed the meeting with only one dissenting
voice, We are not surprised to see a
writer in the Tunes commencing them
as the ''wisest policy that could be-
adopted" BE afirms that "the people
arc beginning to feel that the bulls and
bears have too much power in the
Government" and thinks with some
old writer that ''it is not that a
Duke has so. 600 a year, but that thou
sand fathers of families have $50 a year
that is true national wealth and well
being" The resolutions, he contends,
"propose to unlock the vast amount OF
the cOuutry's capital, now wrapped up
in bonds bearing exorbitant interest"
and in their place deal out the orig
iual: pure faith and credit of the nation
in the shape of legal tender notes. But
opponents see ruin In such expansion
OF the curreucy-Prices will increase,
&c. Make an increase of any kind OF
currency, gold or paper, and prices will