The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1868-12-16

! .sGDu u,UUO,QU0tof paper money 7how;th clr'
cuiatlon Probably not more than bali
the amount Of the showing that |
I when our paper currency is, comrtred
with gold ind silver, It's commercial value.
4 is compressed into S35OOo0.OC0. This
striking fact makes 1.-The obvious duty of
/ the. Government, as. .earDy-as may be con-
sistent witE. the principles of sound po-
1 litical economy, TO take such measures. as
! will enable the hsIcrs Of. its, llotes and
those of the rational banks,s to: convert
/ them. without loss intosspccie or, its, equiv.
aleiit. a reduction. Of our paper: .cirenIa.
ting medium need not necessarhy follow;
this, howsver, would depend upon tie
law lot demand and supply; though i'll
should bs borne in mind, by making legal
tenders and bunk notes convertible into
coin or its equivalent their present, specie
| value III :thc5hands .of their holders would
1 be enhanced oneyhundred per cent. Leg.
islation for thee accomplishment of a.
result soadesirable, is demanded by the
highest, public consideration. The Con-
stitutioncoiitemp plutes.that the circulating
mediumTofs tkegcountry shall be uniform
in quality and value. At tue. time of the
/ toraihtipnS Of, thasi inslrrtniep1t, tils country
yhnd just emerged zffsom the var OF the
Revolution, and was. suffering from the
effects OF redundant. t.and worthless paper
tcufrency. The sages Of that period were
anxious to protect their aposrerity from
| the evils which they themselves h:,d cA-
perenced fIence;,ih proviltag>a re.ul:f-.
ting medium, they conferred upon Con-
gress the power to coin,money and regu-'
late.the value thercof;a the same timo, pro
hibitins the Stutes from, making anything
but gold and silver u tender in pay meMt:
of debts The anomalous condition Of
onr currency is in striking contrast with
4 that which was originally designed: Our.
circulation now:embraccs: First--notes-
] oftheinational banks, which;are made 10.
ceivable for aI.dues 10 5GoyelEnlent,
ex3iading imposts, and by all it's screat
,tors, excepting In payment of interest;
upon its, bonds and. the securities them
selves: sSecond-legal tender notes is-i
sued by the United States. ard which tho:
tiaw requires should be received as we'll
in payment Of f.all debts between citizens,
rs OF all Government dues exceptimposts.'
And third-gold and silver Coin: By the
operations of our present system of.
finances however, the metallic currency,
a when collected sreserved only Tor one.
| class of ofGovernment creditors, who, hold,
T, ling its bonds, semi:annually receive. their
.intercSt.ln-coin from the eNatIonai treas T.,
nry There it Is no reason wh'gh y VAL; DC.
accepted as SATISFACTORY bye the peeple,
why those who defend us on siand' ana.
Il
!; :prot tectyus on the sea; the pensloner upon.
ELhe gratitude OF the misunderstanding the
scars and wounds received while in It's
service; the public servants in various
departments Of the Government; the far.
-mer who supports the soulers OF the
army and the sailors OF. the navy. the.
artizan, who tolls in the nations work
4 shop. or the mechanic, or Iaborer, who.
F51ui|iIs It's edi6ccs aid constructs Its forts
and vessseis.of var, should, in payment of.
their Just and hard, earned dues; receive.
iF1cprecieted. paper, white: anolhe. class of
!: their coiHtrymcn-no more descrving-=
t:aro paid in coin of gold and silver. Equal
i and oxact iustice requires that.:all6 tho
Ecretitors Of the Government should be.
maid ;n7 n currency possessing nniforni-
ynIne. This can only be ACCOMPLISHED br:
Esne the res.ricticn of the currency TO the
|,standar,t ESTABLISHED by the. Constitution,
|eand BY: thisemeans We would removesa
discrimination which may, if it liasvnot
already done So, create prejudice that
may become dcep-rooted .anl widespread,
and impsril the national credit The
feasibility of making our currency cor.
respoud with the constitutional standard,
NAV bc seen by reference to afew facts
derived from our commercial statistics.
The ssgrc gate product ofprecious metal,
in tie United States from lS49 toslS67.
amountedto Sl,l74,000,OO0, while for tho
same period tile net exports Of specie.
i c7sf1 fEI0 NM. U)l,;or cE,