The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1868-12-23

the Government nzcS the time Tor
the redemption of the greehback
notes, those who have been boarding
gold will think the time to sell it has
come IF they hold it until the time
of redemption comes, it will be worth
no more than greenbacks. It would
be better for them TO sell when the
premium is thirty-fve cents than to
hold it until the premium is only
twenty five or ten cents; and the
natural, and | may say the inevitable,
effect of fixing a time for redemption
will be to throw a large amount of
gold into the market that has hith-
erto been boarded. It will then be
better to hold greenbacks which are
approaching than gold which will
soon lose its premium. Beside this,
reserving the gold in the Treasury
creates a demand for it, and brings
into operation the law which / have
elsewhere discussed-that supply is
governed by the demand.
Z The currency is not redundant, as
have before undertaken to show;
and contraction should not come this
side of redemption. and only by the
act of redemption. The greenbaek
notes redeemed may DE cancelled, and
the coin paid out for them will take
their place In the circulation, and the
currency will become mixed, but the
volume of it will not be diminished.
Bringing the greenback notes to par
will, IN chemical language, set free
all the gold and silver in the land,
aud pour them into the volume of
the currency, thus initiating it, but
the initiation will be legitimate. Then
national banking may be made free,
limited and restrained by the
requirement of redeeming their
notes in coin. Then there will
be one currency for all the peo-
pie, and one mans income will be
equal to another's of like amount.
Then our bonds, having kept pace
with the appreciation of the currency,
will be at par, and their disastrous
flow to Europe will be checked. Then
the Government can sell four per
cent. bond in the market at par, and
with the proceeds pay off the present
bonds, if the holders refuse to ex-
change them, and thus reduce
the aggregate interest on the debt
more than S40,000OOO per an
mum. Then the business of the coun-
try will be upon solid foundations and
its prosperity enduring. At the end
of two years reconstruction will In all
probability have taken place; the
blessings ofpeace will prevail through
out the land; the prosperity of the
South in great part restored, and cot
| ton, though never more called king,
will play its former part In our for
eign exchanges.
After the ocean has been swept by
angry tempests, that have engulphed
gallant fleets and strewed the shores
with wrecks and the bodies Of the
dead, comes a calm. The mountain
waves sink to gentle pillows; the
fierce gale lulls to prosperous breeze /;
the sun shines forth 10 splendor, and
the surviving mariners with Joyful
hearts again spread their sails, re-
sumo their courses, and speed away
10 their destined haven. So with our
country when peace, reconstruction
and resumption have come.
IL has been swept and rent by the
storms Of civil var. The land was
strewn with the dead, aud everywhere
are visible the vestiges of the con-
| tilct. But peace has come, and with
it reconstruction. The bright sun Of
prosperity shines forth 10 a cloudless
sky: Industry, trade, and commerce
again How II their accustomed chan
nels with accelerated currents. The
tide Of emigration. rising higher and
higher, sweeps across from the Old
World. The wilderncss Of tho West
yields up its golden treasures and
blossoms as the rose, and our country
moves on glorIously to its great and
final destiny.