Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1867-12-06

merely a common informer against other
public agents, he should at least be per
mitted to act in that capacity before some
open tribunal independent OF party poll.
tics, ready to investigate the merits }ol
every case, furnished with means OF taxing
evidence, and bound to decide accordingto
an established rule This would gtiaran-
\ tee the safety lof the accuser when he acts
in good faith, and at the same time secure
the rights of the other party. / speak, OF
course, with all proper respect for the
present Senate. But it does not seem to
me that any legislative body can be so con-
structed as to insure its fitness for these
functions 1t is not the theory of this
Government that public Offices are the
property of those who hold them. They
are given merely as trust for the public
benefit sometimes for fixed period,
sometimes during good behavior; but
generally they are liable to be ter
minated atIthe1pleasure of the appointing
power, which represents the collective
majesty and speaks the, will of the people.
Forced retention in Office Of a single dis.
honest person may work great injury to
the public interests. Danger of the pub
lie service comes not from the power to re-
move, but from, the, power ~appoint,
Therefore it was that the trainers Of the
Constitution left the power Of removal I'm
restricted, while they gave the Senatelthe
right to reject all appointments which, in
its opinion, were not fit TO be made. A
! little reflection on this subject will proba-
bly, satisfy, all who have. the, good Of the
country at heart that our best course Is to
take the Constitution for our guide, walk
In the path marked out by the founders OF
the republic, and obey the rules made Sa
cred by the obseryanees Of our great pre-
decessors. -
o5S 1870 1.-THE FINANCES. 'IssaasdF
The present condition of our finances
and circulating medium is one to which
your early consideration is invited, The
proportion which the currency of any
country should bear to the whole value o
the annual produce circulated by its fnean'
is a. question upon which political econo
mists have not agreed, nor can it be con
trolled1by legislation, but must be left tc
the, irreyocable laws which everywhere
regulate commerce and trade. The circu
lating medium will ever irresistibly flow
to the points where it is sim the greatest
demand The lawsof demand and supply
is as unerring asthatwhich regulates the
tides OF, the ocean and, indeed, currency
like the tides, has its GIBBS and flows
throughout the commercial world. 9"'
| 9ltAt the beginning of the rebellion, thu
bank note circulation of, the country
amounted to not much more than 5000,
600 900; now, the circulation of lnationa
bank notes and those known as legal-ten
ders is nearly $700,000,000. While it i
urged by some that this amount should b.
increased, others contend that a decided
| reduction is absolutely essential to .th'
best interests Of the country In view 0
these diverse opinions, it may be well Il
ascertain the real value of our paper ISSUES
when compared with the metallic or con
vertible currency, For this purpose, lie
us inquire how much gold and silver coulC
bepurchased by the $700, 000 900 of papel
money now in circulation Probably no
more than half the amount of the latter
showing that, when our paper currency i
compared with gold and silver, its com
merciai value Is compressed into $3.50, 1000,
600. This striking fact makes 1.-THE OBJ
vious duty of the Government, as early al
may be consistent with the principles Of
sound political economy, to take such
measures as will enable the holders of its
notes, and those efsthe national banks, to
convert them without loss into specie OF
its equivalent. . A reduction of our paper
circulating medium need not necessarily
follow this, however We depend upor
the law of demand, though it should be
borne in mind that by making legal ten
ders and bank notes convertible into coin
or its equivalent, their present specie val
ue in the hands of their holders would bt
enhanced one hundred per cent. Legisla
ton for accomplishing result so desira
BILE is demanded by the highest public
considerations The Constitution contem
plates that the circulating medium of thu
country shall be uniform in quantity anC
value. At the time of the formation 0
that instrument, the country had jus
emerged from the war of the revolution
and was suffering from the eff
fects of a redundant and worthless
paper currency. The sages of that perio(
were anxious TO protect their posterity from
the evils which they themselves had OK
perienced. Hence, in providing that tht
integrity of the Union might be preserved
i it should, at the same time, observe gooc
faith with the great masses OF the people
who having preserved the Union from the
perils of the rebellion, now bear the bur
dens of taxation that the Government may
be able to fulfill its engagements. There
is no reason which will be accepted as sat
isfactory by THE people, why those who
defend us on land and protect us ON sea
| pensioners upon the gratitude OF the ma
| ton, bearing the scars of wounds received
while in its service public servants in tht
various departments of the Government
the farmer who supplies the soldiers of tn,
| army and sailors OF the navy; the artisan
who tolls in the nations workshop; the
mechanics and laborers who build It's
edifices and constructs1 its forts and vessels
| of war, should, in payment of their JUS
and hard earned dues, receive deprecated
paper while another class of their coun
trymen, no more deserving, are paid in
coin, gold and silver, Equal and exact
justice requires that all creditors OF the
Government should be paid in 9 currency
possessing a uniform value. This canonly
be accomplished by the restoration OF the
currency to the standard established by
the Constitution !, and by this means we
would remove discrimination which may
| if it has not already done 80, create Q
prejudice that may become deep-rooted
and wide spread, and imperil the national
credit xal 9iBf< yygsd SIT ~NEs
The feasibility of making our. currency
correspond with the constitutional standard
may be seen by reference to a fewfacts de
rived from our commercial statistics: The
production of precious metals in the United
States from 1S49 to 1857, inclusive
amounted to $579000000 from 1858 To
1860, inclusive, to $131 100000; and from