The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1867-02-05

. a - b 81 lenias8 Naft Ne'ee
ID MANHOOD 81 thc eaV Nmc5
w. paper baasb m-
81 B 4sh 81 cll4
II AZ ~. as lor less
800 ao0o39 g aaaat
9 hat seu.d taeh ' n-
, - over 6lsy raf csul aare
- - i>ssi. would be a.s SINS
q Go maa 3, m Bat
- a. A.stlHna l4qer an-
1855 rcd asH
- conceivable i1Tnol imitation
will aake hNmb .4lopaa.
tions iaa exp uaIars s. tae eos
0um VI o. uup9t aa
~ "a .7ety session ia mel0 lsau IS
Fs. % ..gsgl1l On tie score 0 .a-
,.Gess AIDING iho Iniel Satos
~ legislators So come rs hold
mon ehbap Familiarity mta b .-
ions has bred a contomP. fW palTy
sums. aud II seems cpaaralec e. shiEk
from any proposal msroIy because
the Figures are algor tlau Noisid once
have Slicoa. PAT % lie aa5 "a pay
ment aud wa coGat large Sums as r.ies
ftgeltlug that each d9..a4 81 every mills
ion 0ill cost some one 81 our country
men the sweat IF a hard days work
Ii i Che golden moment f3. ,ae party
now in power % tam as attention q me
dry subject 81 economy aad stem the
tide lloWng on, irom tAe treasury, lor
Tho day RiI approach when our course
vail not Jail 10 be reviewed by iaNpay-
/ ers. ii Ne cannot now reduce taxation
largely, We can DO much more BY large
/ Is reducing our appropriations II We
prevent AL rates upon The treasury We
shall entitle ourselves to lmpeushablc
gratitude,
/ From the facts to which / have a.
READY called tie attention Of tho House
it would appear TO be demonstrated
+ that tie simultaneous discovery 81 nou
Iaurfferons deposits IN various parts oi
the world, 81 marvellous extent and rich
mess, has rapids and forever depressed
the standard value Of gold, whether IS
a currency on as u commodity thrdug-
bout all civilized nations, and that the
! United States standard Of tho precious
metals used as currency has been de-
ip.eclated from time to time, oitAog by
alloy ordiminShed weight until It COM
pares uniGyorably with mat Of other na-
lions; that while we have already en-
irely eXtingushed or proposed 10 extin-
Igulsh the circulation Utotate banks We
have supplied It's place and much more
lby the creation OF . inmAy OF national
banks, whose issues alone are one huns
bred millions greater thau the clrcuia-
ton displaced issues everywhere prac-
ticlly nrcdeouable and lAe0hyciUDle,
aud only claiming to be convertible al
some time or Other into other paper
currency Of still larger proportions,
winch the government VIII III some way
aud at somo time redeem, II 1t does HOS
choose instead 10 SO more deeply into
the monopoly of fancy colofcd paper
money; thai deposits bills Of exchange,
and checks oil individuals really possess
in commercial transactions all tle iuAc-
tons Of bank-n0te currency, a4d III
ImodeIn times are used aJ least nine
times more extensively, and thercf ME,
IN proportion to the business OF the
world, lar less money is actually requw
eel tA4a u4oriy; tha5 tae ramdly of
w y ef n7ney OF wnaye,er
4 ku&e holAy greatly masulle5
/ any euITency When may be usc1 III oAe
i United States; that the lmnouaEy OF
onr paper money circulation tcuus Is
the spIaed Of untmlly habits and d
duces extravaganza On The part OF Cone
gress and the executive departments, as
well as Of the people; that postpone
mont OF the time ol reduction VIII mud
our people less prepared, more deeply
in debt, the BANKS wlth heavier Inc u
discounts, and tho credit system more
expanded everywhere thGu now Tor Il
wise, steady ana prudent adherence 10
the IDEA OF an early resumption; ana
without The cardinal laea always ~
front We arc IN danger, III the face Of a
diminishing revenue, oI no rGauHp.Ju
al al.
A violent or abrupt contraction 81 the
present volume OF paper currency might
not be advisable, aId with the ever plus-
ent lnleres, Of the treasury urging Tie
maintenance Of an easy money market,
Ihere IS no danger olIls occurrence, bui
/ a moderate ana persistent c9ntIacu1A
u TIC hood 1ltinn us Old omD4nleuGnl8
+ is advisable N order to restore AaaltA
ana ylgor V iangmahiug industries and
IA ordef 70 bGAd up our greatness as Il
nation upon thaL lmprc uaule iouAda-
+ toa tor winch the mo5eIlal, no. more
precious than soid, has been placed by
/ rroyiaenco @ItBln or reaI and ii
i 5fea4er aDunueHce tAauis 10 be lounu
al al tic countries beside We have
fyust emerged from d most expensive wan
i.sId oasAJ y cXnDle thlt splgIt winch
SUCCESS justly inspires, graphing with
.he huaAclaI daueltles remaining as
part % our inheritance w.th Tic courage
,iidl conquels, AID thus secure the ua4
lA,eies5s Vi our own people While Nc
c-la4Ien8e The respect oi iogelgn nations.
Senator Sumner declined an iuyi-
,atIOn 10 4 Pres4deulIl dinner.