The Daily empire. (Dayton, Ohio) 1865-1867, 1867-03-29
The Currency Question.


As this Is a question affecting alike all
classes of our people, It's but right and prop
cr oathc part of public journalists to keep
the people rs fully advised upon the subject
AS is in their power 10 to do. Nctonly giving
their W views upon the question,
but submitting those of others also. We
have been floating upon the top of Il big
wave of seeming prosperity the past few
vcars-a wave rolling mountain high.
caASed by the great imitation of the cur
rencv of the country and the wild specu-
llation and peculation which have been
incident thereto. We are now seem
linglv ON the point of descending
from the top of the wave down into
the trough of the financial sea, with
debt, bankruptcy and ruin, looming up on
every hand. 1t win need n steady hand
and skillful pilot to carry our financial
bark safely through to the top of the neXl
wave and the people, who are supposed tC
be standing on the deck, watching every
movement of the clouds OF the impending
storm. aud the motion ofthe wave, that Il
to bear us onward. are a%nXiously asking
whether it will be better to spread NOR
! canvass to the breeze, or take in sail.
7 The Journal Of Commerce. u paper O
great ability, has an article upon the subjec
l. from which we elliptic following:
l I'm IL national finances the %magnitud
n ofthe initiation is almost uneXampled l
= the worlds history, and its duration Ina
= been extended far beyond the limitasSigr
, ed to it by the most careful and experience
II observers. As often As the symptoms haV
indicated the attainment of a turnln
, point, fresh stimulus has been applied wit
q marvellous effect, until not II few have com
to believe that the excitement may be pro
lunged indefinitely, with no fear of an eN
n plosion or n collapse.
'Some of thOse who have vowed th
-, theory have held it, we think. with not
misgiving Us TO its soundness, and with n
q little secret anxiety as to the ultimate r.
50 suit. 1t has suited their plans to suppo
d it, and to ridicule the fears OF those who b
- Ilievc that man cannot repeal the Law
written in the nature of things by an a
N mighty hand; but they are not In all cas-
" as %salguine as their boasts would lmpi
and they would pay a large sum tor insu
ance against the wreck which may he II
= pending.
..Within a few days there have been MAJ
er signs OF a general awakening to the reaI
ties of our iinancial condition. IL has be'
= found impossible to renew the speculatl
'' e%Xcitements among the class who were e
~ gagged in similar movements during I
lie last year; and the few who are now rca'
al with their ventures have neither the mea
~ nor the nerve to command any but [
'u most temporary success. The number
re those who welcomed imitation, and prote'
rs. ed to believe in it rs n permanent inHuent
10 is daily diminishing; and giided soph
y tries, which passed quite current a ye
m ago. arc now rejected with a disgust viii
MS few take any pains to conceal.
of "These signs of a public awakening q
10 hopeful, aud it is q matter for deep reg
that we have no One connected with the !
ld tional finances who manitests any dispo
eel ton to profit by this sentiment, and turI
or to account in leading the way to a sol
reformation. The reaction cannot be p
IL vented, even If the whole world madly
m itself against the change. How much b
he ter to lead It than be dragged In ruins
ha meath its crushing weight"