Indiana American. [volume] (Brookville, Ind.) 1865-1872, 1868-12-11

fuaI4|IuF- - -. - ~ la4a1nf1
Governor Al orion . r financial Scheme. 4
1T isunaefstovtlethG Senator Morton
la tnafnea & Plan for the resumption Of
spseiie psy'pce,,. which, h. intends % pre-.
ssas.te Congress At an ,early day, The as
net slrsajy sdsssl so. Tho conviction seisl
ySfy fsuorpl thst there Gun be no eifsctise'
rousdy Zoe sxisiing hpancials evilse With.
ouls.relprp 70 'pccis paJpsni., Or IN 9th.
or Weeds making sigreeuhseks equal in
value 70 gold. Asshe " sshiog'os chsens
isls ssys, with our prerent currency the
dollar L. vssisbls quantity, whose change
olsxslus Is iadiep,ed By the constant
ilsctssiion In the price of gold. Today
the value is's about seveaty4four cspssf
about two m,oths ago II vas scarcely
seventy cents, and M man can positively
tell whssliss value will 'bsr tFo nea'hs
hence. With sush.an ASCERTAIN standard
n the measure OF all values, every busi-s
ness transariion Il more OF less in',be M.
,use Of game Of chance, for there Ia no
basis for that exiei ealonlslion ~ which
honest end Iexitimsts business should be
conducted While this cos,inues to be
the case there viii be 4smong business.
msn a lnor,usnes, on the ore hapsd,
and . rseklesseess ON the ether, of
which both will be alike injarioas TO the
iaaus,ry and trade Of the coun,ry There
10 no escape from this evil without a re-
suupsipa Of spscle paymenis;- aud ibis
brings us face tolfaee with the qnesuop
how 70 resume. ll'aafas tlsaf 20
Senator ,lorton simply proposes 70 ff
day by Law on. which to begin The 70
dsmpsion Of the greenbaek currency r(say
the Il, Of January or the lat of july
1871 } and 10 tlfs ueAn,ima 20 retain 10
The Treasury tho surplus coin scerulns
from customs until ,l.cre Is sufficient
smeun, for the desired purpose. The ira,
part Of the plan depends upon the strond,
for Il would bs Useless 10 Ok day for
payment Without at the same time taking
msasures 20 4, r,vids tho coin wherewi,ll
" pay. s-i Ms ss
Senator Morloa's plan would establish
abe necessary .equipobe between goll and
grsenbseks bya gradual .sceumula,ioa Of
tho latter Ia the Treasury vaults until IL
should roach The required amount, and |,
would remove the disparity VI value be,
tween gold aud grespbaeks by bringing
isto play the simple commercial principle
daily exempliaod Ia the discoanting "
notes. The limo Fixed for The resumption
would be regarded as the maturity Of tho
grcsnbseks, aud, like any other note on a
soIssn, ir,n, the nearer they approached
maturity the smaller would 10 tho discount,
spon them 1.-The nearer their value to tina,
OF The gold they represent. Indeed, the
process Of appreciation would DO much
mors rapid Ia the case Of greenbacks than
IN that Of aay other notes, because whIlo
awaiting maturity tlsy would be as useful
for business purpossspr coin itself. They
ere deprecated now because they are dis
honorsd, for they are payable ou demand.
yss not one Of them has been paid. No
man now knows their real value, for that
depends upon the time they have TO run,
sad The value attached to them 10 the
money market u the exponent Of the aver
age ep'aioa OF the business community as
20 the probable action ofihe Government
N regard to their payment. Butt isonly
"a oPinlon--a mere guess, Ia ise'' f'r
: time TOR their redemption. however,
aud take the necessary measures to
ssnvince tho country that the means
OF redemption will DO ready when the time
comes, and instantly their value becomes
susceptible Of exact calculation. Deduct
from one dollar the dissouu, for the time
10 Intervene before maturity, and there you
have its present value to a mathematical
nieefy. But as we have above estimated
It's utility as currency 10 the meantime
would make II worth piemiuul on .his
strict mathematical value, and would
probably bring il up to par long before
the time for redemption arrived