New-York tribune., 1868-04-17
OUR NATIONAL CURRENCY.

ADDRESS OF THE GENEVA CHAMBER or CON-
MERGE TO THE UNITED STATES CONGRESS.
In the House of Representatives, on Tues
day. the following received from tho Secretary OF the
Treasury whom it had been sent by a. de Gasparn
aud others Of the Chamber Of Commerce Of Geneva
Switzerland:
1t was with true and characterization that we wit
messed your heroic efforts and your energetic persever
applied to the realization of great idea of an ell
trcly moral interest namely the abolition Of slavery
We have applauded The admirable proceedings Of
your country. which did not hesitate n moment
of destruction for the implements Of peace
Unfortunately the deep wounds given 10 your prosperity
by this struggle have not been healed so promptly as we
hoped The rst to he named and most perlclous s
the adoption Of paper currency, Mhea GonnSS s u is
periOus necessity. but, by its cotnuaons, 1t becomes
widespread calamity it Is bleedns wound always ny
open which we imoie YOU 10 heI-he soqIel 9ic ~
ter The prosperity of the whole eOnmerca NOid Is III
matgy G%ana W up "ln dra tG sesscte& With yonr
p0spe1ty by the wen as by the development
cYeybng % IG bst interests YOU by the conformity Of our
political institution, ana by their blessings of liberty
Allow us on the strength OF this brotherhood Of moral as
well of material import 10 speak you OF those Interests
concerning YOU as understand them. We saw al inc
time with the greatest pleasure the measure Wlch author
lied yOur Secretary OF the Treasury TO M,hdlaW enef
month certain amount Of grccnDdCks' but We nOicSu
with deep regret that aftcr the repeal OF tat I9Smy
the question has been raised Of new emission OF sl4o
OO0 600 OF paper currency destined to replace TINS very
amount which bad been withdrawn. Would " lol MP
near aq If by tho new discoveries OF gold mines PIOy
dence had intended furnish TO the civilized world sui
cicnt precious metals to form the basis OF their cX-
Chang"si Gold and silver in the shape OF money are
the energetic agents 10 prompt industrial ahd com
dovclopmcnt rests the Development OF humanity.
The emission Of paper money by any goyeinment Is
nothing else than heavy tax ON the public t4x Wbigh
strikes at hazard, and falls heaviest on those least able
to bear III the evil IT produces goes on Increasing IRON
day day. and the longer ~ lasts the more disttons
its consequences. The depreciation OF aIapor rur
rcncy imposed by Government can only be compared 70
the alteration Of coin equal in ITS results 10 ih2e ac.s
committed by despOts of antiquity and ol te nduc as
The creation Of paper currency arbitrarily imposed y
state. is an nqutouS tGX put ON thG crtdiOr 10 @ ,o
profit OF the debtor III ueH0diles uhu iS.a ~ i @
nuycrs. which must cause the hucuatlon Ot ts nctlous
money IL produces bad Influences, ma DingS lorln IN ,
rupon by alurelncnts o llcit gam Wnch ny eEItcs WI
quite natural The people, unaware OF ticSe cor
mptng influences, is always the victim, wIiie tle ia
VOrod ones are the holders OF capital VINO oAt socll R
the gold PREMIUM and the Adventures of commerce ana
Ol pouuc5i the one sceRlhs put 10 ll'O hl'
the other to gam false popularity me RoiI speSuia
tors well rs ali other spectators, suppose themselves
doing legitimate business but legitimate business Is
only such rs produces or IS OF rea Dehcht 10 Sih
Bat these speCulatOrs what 90 they producer NOtmng
more unfortunate for the work ngiua than 10 De iin
time 10 time without any Work ut al parlcular} III
country where the products OF the earth Abound ana
where, at the time, fictitious high prices prevent
him from being able 10 obtain ten me efis'emo9 VI
paper money blocks up the sources OF LABOR INSTEAD ol
out of PROPORTION to the real wants OF circulating
diuD in that case, IL makes everything unstable aud IN
secure in the social and International relations me SOW
ereg people Of the United States IS the master OF It's des
uies How is IL that 1t toeratcs this snartlng wound
Brethren of the United states. pray hear believe In
the experience OF an old Republican people VINO nave
never tolerated the existence ~ kud 81 paper money
while nc various times great Powers Ot their ncenbor
hood have used these means MI their empty Golfers.
but the result has been invariably their bankruptcy
Pursue the road entered into successfully by Your hDc
secretary of tire Treasury and take not 10 tolerate
new emissions OF grecnbacks any kind of paper money
EndcayOr to stop the sooner the better every equNOch
alarm on tho subject of reimbuTsDg OF your loans
otherwise than I'm gold, do not allow your intentions on
that head be doubted for a single moment Raise
Your credit eliminating point. where II has been
and everything after that will be easy for you 10 accom-
pstho favorable conversion Of your debt as wen as
the return perfect order III monetary affairs and
10 labor Begin by the restoration Of your credit ana not
by The reduction interest which would never be voun-
tary submitted to- Pardon the fankEess Of our speec
II onght prove you hut thing that H. our sincere
Affection aud the great esteem feel for our brethren