The Albany register. [volume] (Albany, Or.) 1868-18??, 1868-12-19
,.narl.rEn 80 - -

paper Notwithstanding the coinage of
our mints since 1910. of 1874, 100000,
the people arc now strangers to the cur
reucy which was designed for their use
and benefit, and specimens Of the precious
metals bearing the national device are
seldom seen, except when produced to
crafty the interest excited by their nov
city. If deprecated paper is to be
continued as the permanent currency of
the country, and all our coin is to become
n mere article of traffic and speculation,
to the enhancement in price of all that
appertains to the comfort Of the people,
it would be wise economy to abolish our
mints, thus saving the nation the care
and expense ihcdant to such establish
ments and TO let all our precious metals
be exported in bullion The time has |
come, however, when tho Government |
and national banks should be required to
take the most efficient steps and make all |
necessary arrangements for resumption |
of specie payments Let specie payments
once more be earnestly inaugurated by |
the Government, and banks and the value |
of the paper circulation would directly |
approximate a specie standard. Specie |
payments having been resumed by the |
Government and banks, all notes or bills |
of papers issued by either of less de-
nomination than $50. should, by law, be
excluded from circulation so that the peo
pie may have the benefit of gold and
silver circulation which in all their trans
actions will be uniform in value at home
and abroad. Every man of property and
industry, every man who desires to pre-
serve what he honestly possesses or to
obtain what he can honestly earn, has a
direct interest in maintaining such cir
culating medium as shall be real and sub
stantial, and not liable to evaporate with
opinion, and not subject to be blown up
or down by the breath of speculation, but
to be made stable and secure. A dis
ordered currency is one of the greatest
political evils. 1t undernaines the virtues
necessary for the support Of the social
system and encourage propensities de-
structive of its own happiness. 1t wars
against industry, frugahty and economy,
and fosters an evil spirit of extravaganza
and speculation. 1t has been asserted
by one of our profound statesmen, that
of all contrivances for cheating the labor
ingclasses of mankind none have been more
effectual than that which deluges them
with paper currency. This is the most
effectual of inventions to fertilize the rich
mans fields by the sweat of the poor mans
excessive taxation, bear lightly on the
happiness of the community, compared
with fraudulent currency and the rob-
berries committed by deprecated paper.
Our own history has recorded for our
instruction enough, and more than enough
of the demoralizing tendency of the in
justice and the intelcrable oppression on
the virtuous and well disposed by de-
graded paper currency. Authorized by
the law, or in any way countenanced by
the Government, it is one of the most
successful devices In times Of peace or
war, to accomplish the transfer of all the
precious metals from the great mass of
the people into the hands of few, when
they are boarded in secret places, or de-
posted under bolts and bars, while the
people are left to endure all the incon-
veniences, sacrifices and decentralization
resulting from the use of deprecated and
worthless paper.
FOREIGN RELATIONS.
No important question has occurred
during the last year to mar our accus
toned cordial and friendly intercourse
with Costa Rica, Guatemala, Honolulu
San Salvador. France, Austria, Belgium
Switzerland, Portugal. The Netherlands
Denmark, Sweden and Norway, Greecs
Turkey, Persia, Egypt, Liberia, Morocco
Tripoli, Tunis, Muscat, Siam, Borneo ant
Madagascar Cordial relations J hay,
been maintained with the Argentine ant
the Oriental Republics. The expressed
wish OF Congress that our national goo,
offices might be rendered to these Repuh
lies and also to Brazil and Paraguay fo
, bringing to an end the war which has 8
long been raging in the valley of the L;
Plata has been assiduously complied wit
and kindly acknowledged by all the bellie
erents. These importat negotiation
have been thus far without result
Charles A. Washburne, late t. s. Minis
ter to Paraguay, having resigned, am
being desirous to return TO the Unite
States, the Rear Admiral commandin
the South Atlantic Squadron, was ordere
to send ship of war to the Capital {
Paraguay to receive Washburne and hi
family and remove them from situatio
which was represented to be dangeror
from the factions and foreign war.
The Brazilian commander of the allie
invading forces refused permission to tt
Wasp to pass through the blockadin
feet, and that vessel returned to its a
customed anchorage. Remonstrance ha
ing been made against this refusal, it W;
promptly overruled, and the Wasp ther
upon resumed her errand, receiyin
SWashburne, and conveyed him and h
family to safe and convenient port. ]
the meantime an excited controversy hs
arisen between the President of Par
quay and the late u. $. Minister, whicl
Il la understood, grew out Of his nrocea