New-York tribune., 1867-02-23

directly to this result The country must be
made TO realize that irredeemable paper money
is a bold swindle, by whomsoever issued, ana is
dsrraceto its utterer ; and that they who would
increase its volume, or prolong Its existence a
day. except under the pressure OF dire Ma
tional necessity-a necessity which has long
since ceased to exist in this cOuntry-are as
much public enemies as they who would con-
spire for the National ruin in any other man
ner. .
The people have suffered enough from the
evils of a deprecated currency to lnslst on
the demand for its extinction. The vast Dody
of consumers have been long subjected Vo
inordiuate prices through the powerful COM
binations of gigantic spectators dealing ID
and controlling all articles of consumption,
and especially the necessaries OF life. Ihese
speculative combinations are supported by the
hanks, who earn their exOrbitant profits by
| issuing endless promises to pay, which they
| are never called upon to redeem; anu
thus they become co-cOnspirators with
! these plundercrs upon the the public. The
banks are no longer administered tor
the purpose of facilitating commercial opera
tions by legitimate loans. Released from all
Obligation to pay, except in paper promises
they issue their notes, they afford their credit
they grant their aid, to blOated specuatiOns on
stocks and on commodities of every kind and
description And still, not content with the
enormous and ruinOus agencies OF imitation now
controlled by them, they, and the operators
they sustain, bcsiege Congress for such ad-
ditional means of prosecuting their illegitimate,
oppressive, and dangerous courses, as is al
forded by the additional grant of the One Humid
red Millions of greenbaclis voted by the House
on Thursday.
! We warn all concerned that the way OF the
transgressor is hard. This sort of thing cannot
long go on. The banks and the spectators
may have their way for a time, but the day
will come when the loose principles now
avowed by their representatives, and the lying
! pretenscs on which they operate, namely, that
promise may be disregarded without shame,
and that the shadow is as good as the sub
stance will work their own disgrace and de-
! struction. Every solvent man and every SOL
vent institution in the country is deeply inter
ested in maintaining the idea that there is and
can be 10 mercantile honor and no national
financial credit insepaable from strict fl
|
1 far we have wandered and are wandering
from this inflexible standard we forget to
remember in the midst of this rolling, inun-
dating sea of lying promises to pay which the
country has consented for these past few years
! TO dignity with the name of money. The peo-
pie have become dcbauched with its demoral-
! izng influences, and both individual and ma
| tional credit is in danger of going down before
| the influences and ideas it has created in the
great crisis upon which the country is now
entering in its financial and industrial concerns.
! The cloud on the horizon may be yet no bigger
/ than a mans hand. We have intimated what
shape it may take, and indeed is likely 10 take,
unless by common consent we are all willing to
unite in the declaration that all irredeemable
promises to pay, whether bank promises OF
| Government promises, are alike andaclous
swindlcs and glaring lies disgracing their utter
crs. and which must be rclentlessly pursued
and proclaimed rs such, till they are driven out
of existence - -; -. - -st