Bloomsburg democrat. [volume] (Bloomsburg, Pa.) 1867-1869, 1868-12-16
BI OOMSBURG, Pa, WEDNESDAY, DECEMBER Is, 1868.

should, in payment Of their just and hard
earned dues, receive deprecated paper,
while another class Of their conntrymen, no
moro deserving, nrepaid in coin Of gold and
silver Equal and exact justice require that
all tho creditors of the Government should
bo paid ina currency possessing uniform
value. This can only be accomplished by
the restoration Of the currency to the stan
dard established by the. Constitution and
by this means we would remove a discrimi-
nation which may, If it has not already done
50, create prejudice that may become deep
rooted and wide spread, and imperil the ma
tional credit. =
The feasibility Of making our currency
correspond with the constitutional standard
may be seen by reference to few facts de.
rived from..our commercial statistics.
The aggregate product Of precious me-
tails in'thc United States from lS49.to 1867
amounted to sl,l73,oOO,OOO, while, for the
same period, the next exports ofspccic were
s74l, 100000. This shows an excess Of
product over net exports Of $4,000, 900.
There arc in the Treasury sl03, 1855 in
coin in circulation in the States on thl Pa.
cifc Coast about s40,0OO,OO0, and few
millions in the National and other Banks
in all less than sl6O, 100000. Taking into
consideration the specie in the country pri-
or to ls49, and that produced since 1867,
and We have more than $500, ,00O,0oO not
accounted for by expectation or by tho re-
turns of the Treasury,Fand therefore most
probably remaining in the country.
These are important facts and show how
completely the inferior currency will super
cede the better, forcing it from circulation
among the masses, and causing it to be ex-
ported as mere article of trade, to add to
the money capital Of foreign lands. They
show the necessity of retiring our paper
money, that the return Of gold and silver to
the avenues Of trade may be invited, and IL
demand created which will cause the retcn-
ton at homo of at least so much Of the pro-
ductionsiof our rich and incxhaustible gold
bearing fields as may be sufficient for pur-
poses of circulation.s! 1T is unreasonable to
expect to return to sound currency SO long
as the Government and banks, by continu-
ing to issue irredecmabc notes, fill the chan
nels Of circulation..with deprecated paper.
Notwithstanding coinage by our mints,
since ls49, Of eight hundred and seventy
four millions of dollars, the people are now
strangers to the currency which was design
cd for their use and benefit, and specimens
of the precious metals bearing the national
devices are seldom seen, except when pro-
duced to crafty the interest excited by their
novelty.
IF deprecated paper is to be continued
as the permanent currency Of the country,
and all our coin is TO become mere article
Of traffic and speculation, to the enhance
ment in price Of all that!is indispensable to
the comfort of the people, i. would be wise
economy to abolish our mnts, thus saving
the nation the care and expense incident to
such establishments, and let all our precious
metals be exported in bullion. The time
has come, however, when the government
and national banks should bo required to
take the most efiicientistcps. and mako oil
necessary arrangements for a resumption OF
specie payments. Let specie payments once
be earnestly inaugurated by the government
and banks, and the value of the paper cir
culation would directly approximate specie
standard.
Specie payments having been resumed by
the government and banks, all notes or bills
of paper issued by either of u less denomi-
nation than twenty dollars should by law be
excluded FROM circulation, so that the peo-
pic may have the benefit and convenience of
a gold and silver currency which in, all their
business transactions will be uniform in value
at home and abroad. .
"Eycry man Of property or industry,
every man who desires to preserve what nc
honestly possesses, or to maintain what he
can honestly earn, has direct interest in
maiutaing q safe circulating medium such
a medium as shall be real and substantial,
not liable to vibratc with opinions, not sub
iect to be blown up or blown down by tho
breath Of speculation, but to be stable and
secure. A disordered currency is one of
the greatest political evils. 1t underlnincs
the virtues necessary for the support OF the
social system, and encourages propenslties
destructive of its happiness; itwars against
industry, frugality and economy, and it fos
ters the evil spirits of extravaganza and
speculation" 1t has been asserted by one
of our profound and most gifted statesmen,
tha. "of all the contrivances for cheating
the laboring classes Of mankind, none have
boon more effectual than that which dcludes
them with paper money. This is the most
eflectual of inventions to fertilize the rich
| mans fields by the sweat Of the poor mans
brow. Ordinary tyranny, oppression, ex'
cessiye taxation-these bear lightly on the
happiness Of tho mass Of the community
compared with .. fraudulent currency, and
tho robberies committed by deprcciated pa
per.
The Secretary Of the interior, in his re
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