The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1867-11-21
A EGE3z AEkAEsAE LETTER.
'E'Easd. Stevens in E'2y0r Of Fay
iRg The National Debt
ga g.ress.isaes.g.


New Iork editors. whose a2e - scarcely
more than eighty years. and who vii pro-
badly discover in ny answer evi3ence Of
old aye ana of dccaying intellectual pow
ers OF al this am myself conscious.
aaI onl5 s regret the pain which !. gives
these Youthful gentlemen To ;n.ke such
delicate suggestions But as literary pride
has never been among my aspirations. |
wilI not venture t. smother the free inter-
: course with NJ me-. .hbora n advanced
life
They neei hardly tell yon. Who reside
. my near ne ehbors, y ha. doubt not Is ap-
parent IN the insr nsic evidence of Iuy
poor productions, that these things which
am too often giving to The public are die
tated from sick bel. in the interval, of
pain which Providence INDUCES ne with
and 70 winch those gentlemen abroad 50
kindly r fer Bat as I may print or Dot
print. IS suits ny dIscretica. | have no
right to complain Of the criticisms or rili-
cue which gentlemen in vigorous heath
see proper to heetow upoa oar produc .icn-.
50 far as Ihe financial c0nl.,ioa ST this
republic s concerned, It IS nos arl never
: can be II doubt or peril. WIKI tho pro-
ducts which We can readily dispose of to
: supply the demand Of evety kind, there
never caa be time when, with honest
DEALINGS this republic ,gil be unable to
pay her just liabilities
The best mode of mauaein. the govern.
: lnent finances OF which you inquire, aud
Of which yoa are much mere capable OF
. determining than ai. an 7 least Of all
is much more d.Eicgls question,
and one winch has puzzled ab-
straetiouists long before Ad4,u Smith. /
have Mt approved ard 10 not now approve
, oi the financial policy pursued b. our
Government for the ia>t SIX years.
think We have thrown away our billions,
and are ST.! throwing away our MILLIONS,
q by 1ni,managenent
Yol are a banker. and a sound one but
: you arc making more of the mite / S,>tes
+. through ne national banking system, as IS
every other men who has adopted i, than
you os.gAt t. me-. Tais may appear dog
ma;icsl hut ! an oniy answering the
:. questions which yra have asked ne
, - all 6a'ntiai question, lie Nho MAKES
L az honest bargain sal -. spi!ar f5r do
e lar. ey-tr cent ise c3rtl. Il for. = pot \
dishare- rita. u 1rr net deserve 70 =
denounced ~ = s.ina,e. or (. cheat what
Z. crer - - F.'s .r - IL lie.
i.~' - co'.so ~ a. hf.s - f:ac Is
81 tho rre~erl f4s4e~- ot crr country.
:. and see whether you rave anything 10 re-
= pgyaeh ur-eii Win ,a a-s.tas slth your
p fellow citizens n the exchange Ct those
r finances Eyorg nation : any magnitude
= in ihe present sfs,e &c civilization and
= with any considerable business and COM
mcrce. must ana vii! Use some kind Of a
? payer medium Ia cary 81 its business.
None but the Chactaws. CAicsa>a~s aud
their kindred triues nov doubt or deny
70 this In framing our constitution it was
: not doubted hat t.is medium must be
5 u..d, relecmab!e ty is eqniyaent in
whetever should Le ihe money Of the
country. That Instrument ,,rJ:ides that
~ the general government shall coin money
no a'd regulate its salne. Under that clause
>. [ have never doubted hat lie general COY
H. ernlnea alone was competent 20 is~ue-b II.
u credit, CT. in other rofis. 10 establish
rs banks rf sue and TO declare what sh"uld
III be tie m4neg or lie c9un ~ and its yslue
on " have fallen. am sorry u -ay into y
different practice, and states do that
which. ier the sake 81 uniFormitv he gen
t.. eral government a.one omeht - control.
h The certain result Of all large CONNER
: cial transactions under any system - that
= sometimes the currency Of country vii
be expanded and sometimes contracted
-- according to the supply and the business
end the prudence OF the people This i
what Is called the expansion and contrac
n ton OF the currency, and denounced as
9, thing which might have been avoided
That expansion or contraction is in nc
~ wise affected by the kind Of money whieI
is is used. If il be too abundant or tnt
n scarce il Is Of no consequence whether i
be in coin or IN paper. y hundred mil
lions toe much Of gold is just "a injuriou
T. III initiating prices ~ n hundred million,
ur toe n,rch in ereenbacks. But in ny
nd judgment, which ever is used BY go-orn
n ment should be promptly redeemabe nc
cording to the law Of redemption whicl
- shall be directed by the power that au
th0rized the issue, who should use it with
out the payment Of interest, and profit b.
n the losses which are incurred in it's de
all struction
m .n The law Of redemption, regulating re
~, ~, dempiion both as - the cornmkty il
IL which it shall be redeemed and its intrin
an SIC value compared with the money issued
\ is as much a part Of the contract a. tn
IRE price Of the article re luced to writing an,
=. sealed by the parties. Not because of th'
,ev usage Of the country. but because of tn,
sss law which says so. When, therefore, yol
find that the standard of the America
dollar IS one hundred cents and YOU ar
- in possession Of such a dollar, you know
.an that you are entitled to just one hun1re,
D. cents for your money and no more, wheth
at er that one hundred cents be made o
IN leather, tin or greenbacks and its mode O
. payment pointed ont And when the gu
H. preme Court shall have decided such lay
&C.. to be constitutional and binding upou all
to it being the highest tribunal to decide be
for tween man and man in all earthly affairs
it is not only legal, but it is just, as par
>. of the law Of the contract to pay you
TT lt Al ,,ono,, ~ hiab ,f Tho