The New York herald., 1867-03-12
COIN AND CURRENCY.
TO THE EDITOR OF THE HERALD.

wr.t TO THE EDIToR OF THE HERALD.
The nation and its government present exraordi-
nary spectacle, which must encourage and crafty the
rebel faction here and Their symrahxers in foreign
countries, who having failed TO gain their object by
beion and war; hope TO achieve by financial anarchy
collapse and ruin. All the interests and transactions Of
the people the policy and hopes Of the
held In doubt Political questions have precedence
being most urgent. Financial matters treated by
expedents for the moment as II their failure might be
staved of, and when ruin we should agree that It
was inevitable, unavoidable, natural, necessary.
The war, technically and physically, has closed; the
conflict continues Commercially and financially we
yield 10 the policy and maxms dictated by England
We are awfuiiy in debt poor dependent foreign
masters for credit for daily supplies OF necessary arti-
ces and for toys hpd lnxures Yet thoee who supply
at double and treble prices shout the top OF their
voices rich in resources have hundreds Of
millions Of national bonds to export and unfold wealth
the bowels Of the earth II will stop manu-
factures and send the material to them, where la
bor is cheap they will supply US. When no
longer pay balauccs In gold II will be evident That
are poor dependent powerIess and coatemptble, and
they will have TO treat us accordingly. We submit to
that, and call II scicpce--lberty freedom. @6
The commercial and political classes generally to
be arranged parties One Of these goes directly
boldly for free trade specie payments. Free
trade means that every man In this country fand, by
natural right, cvcrywhsreis entitled, ami ought to be
and wherever in this any other country he buy
cheapest, ana To expor the national coin in payment
For young, dependont, npstart nation like this to
abrdge and hamper the OF this natural
right BY artiGsia laws, conventional regulations,
an Insult nm oi.pcs TO poIieicaI reconomv' If
labor in this country is two dollars per day, and in
oher countries bn two shpgs IL stands TO that
the pro ducts NJ their labor be sold cheaper than like
things made here The laborcr here Is bound to know
that bis natural right lay down his tools and buy
the cheap products foreign labor As tho matter
that Will. In the take Of SELF
he need moi by anticiraon concern himself about that
Il tho exports are shot lot hm send the COIN woen
that gone ID tile buspess of tho government TO pre-.
vide more. and have il ready for export ITO ctin
money regulate the value thereof and TX standard OF
weights and measures" Ia one OF the express objects OF
the government The goyernm makes coin for the
Of the free people The people Of right II 70 pay for
neglects its duty and does not make enoagh that
their fault and mnst be debsrred from exercising
our natural rent OF buying in tho cheapest market
such y the abstract theory and philosophy Of free
trade seng naturally ~ y,sas 5sn o. Every M no
violate u without being unjust and tyrann,calf If Is
right worth defending, and we OUGHT to stick TO IT,
especially when heavily taxed and deeply In dcbt II
coin has been out Of circulation, and exported at q
premum Tor year., that cannot affect right to bay
cheap th IN foreign markets. but must be owing to
our guilt In coinipg and usn2 paper In place Of allie
money Tho secret must be that not excessive imports,
Had s tho O. aS We
should have had plenty Of coin. and II had now the
courage to bansh the paper the coin would OF course
labor here 10 two shilings day but it would como.
Our political economy rays 80.
The other Of these two PARTIES wond curb and restrain
excessive Imports which decrease our fore gn debt,
drain away coin. discourage production at homo and
keep up high pri CO they cherish the pleasing phac
tom that at unknown fntu period, II we continue
TO have peace aud are economical, We shall ba able 10
resume specie paysenis-thal after We have expert
ed q thousand extra millions OF produce and paid
on existing foreign debt and got the balance
Of FOREIGN trade 10 favor aud exchange below par
then, our exported CO 10 not oil melted up seques
tered In Egypt Chioa, may buy and import ouah
TO resume, provided the quantity CT paper sufficiently
reduced We may allow hty more years for this pro-
cess II the South gets in q condition TO grow
for export and other nations want r I'VE import
not bundled millions for gold revenue
II the national bonds held abroad not prcmatrey
sent home; II our national dsot gets paid or IL our
unearhed resources appear above the surface; "
earn vastly than SPEND get more In debt
all united, prosperous aud happy, we may indulge
tho pleasing hope that in ffty years may have hard
coin In circulation II any OF these things fai must
take whatever further balance OF time may to thought
necessary. Tho fund Of time is indefinite We are
used the operations Of credit and draw without
restraint a9s4st, .s.tf..f y l-s se.s.s sfs 4. .s
Undoubtedly long period OF agitation and suspense
must elapss before We resume specie payments
any plan yet ired-a period long enough - try oppo-
site course Let stop the export Of specie and have
quiet; enforce tho laws, circulate gold and paper
equivalents abolish premiums aud discounts treat coin
and paper money, not a. merchandise
N NICHOLAS KNICKERB0CKER,
Stock Exchange Building.