, 1869-12-16
MONETARY AND COMMERCIAL,
MONETARY,
WnxHpAr EyxN1so, Dec. !.

HEuNkSu4E GfkNIf1, U6C. L.
There has not been tine since the suspension
or1peGe payments when tho tendency Of financial
Amir rs2 10 posttiVely IN one direction - II Ia
now. For sevan yeass tho finances OF the county
hsve been ahoat, drifmg aitnlessy about on that
tca Of ncaon created BY the breath OF "bu.ls "
and "neal5'' in Wall Btteet For seren years
scarcely one man IN I thousand his known what
were the real prices of things. Real money h4s,
for that length Of tine been dsp,zred BY fictitious
money; N nc1t1ous prices atabllahsd for CON-
uodlttes, and thus swapping fiction against fc-
ton. Nnety.nlne pe1sous IN i hundred, for
time, loat nuJ remembrance Of real
money and fexl pricea. Paper money
II n powerful Attuulsut 10 usdeas alcohol Ia to
the Physical 1yBtem, and during several yeArs Of
the Val, and up 10 about TWO ycaN AGO. the
United 6tatea have been u,ost giosionsly drunk On
II Two or three yezrs ago, men who talked about
the gold vGius y Of commodities were laughed
It, II the snaa who z,ood up Ia Vanity Fair and
said al buy the truth" WAS laughed At; but It u
fact significant Of return to scnS1olt vewx Of
things, that during the past S1x months, people
have got more and more in the habit ot taking
about the gold value Of wheat psoFl1,onS. cotton,
sugar. DRY goods, and commodities generally.
Tho nna,lon nas begun 70 WORK Oh, BY the iu-
c1eaae OF products and commodities. In proportion
TO the volume o! paper money. and BY the increase
OF gold Ia the con1tsJt 10 thai b5 these aReuc1es
the normal relations Of currency. specie, and
commodities, arc being gtaduall5 Fcstored Bar
the return to loorlety ID tad 70 be the mc8: pain
S0l part OF drunkenness; aud "a the hummer, with
every cell In his tissues hungry aud gaping for the
accustomed sunulAEh hegs for more, 10 trade
ovesattnulatch shrte yeara Ago, now gapes snd
nunseta for nnore currency, 1ugersoli, OF Illinois,
ft1nds up tn the House, and Bayh: "Giyo ua ops
mort forty four million drink ~ and hts sdheseutB
here whine for the return Of cheap money" and
unconsciousy prtnt sarcasna on eaeap money By
saJln2 tHat-" When gold WIS worth loo and
100 cents tn paper money" "groenbacks were 30
plenty Ina, farmers paid up readily the
logical sequence Of which u that u COLA was worth
go cents La paper money "erezythiug would b
loteiy,'" The goose wonid hang nigh" i" and silly
pased people would feel exceedingly Iich, unt1l
the eject began to WORK 81, and the same cry OF
"Nofel more! more! voul1 be rey1yed. Stun.
ulAuta alu good things uted tenperately, bat be
who attempta to live BY them goes to pieces Tho
poslion of those who clAmor for mote 9reeu-
backs IL precisely that nhove Indicated. Free
hanitng, SLOWING tugt - much circulation ~ the
banks would rurnlah good bond security II tts
gold valre, and adequate leRaltender And sPec.e
reserves for, would tazu,sh tnst as uuca more
paper money taan We have now - the eoantEy
could u7c- Bat those who ciA13or for more
greeubacks inAtead Of thi1 lthu OF paper
money, declare that 1t ID not simply soore currcn-
g that they want, but moro dtTvtcl1saf currency.
The Thing We hope, and expect, to see coogress
DO this winter, u to give us \ free banking law,
with circulation nased npon The gold vniue Of the
bonds depeatted to secure IT, AID with such rca.
souab1e requirements IN regard 10 specie reserves
~ shaA 1sure the gradual progress OF the currrn-
g toward coin redemption, and 10 prevent the
nation from getting financially DRINK hgala on
depsec1ted culretc7. But there II one tn.uE 70
Be guarded aSa,ns.- Alter the irtpaus products Of
the abundant ctopa Of tns JeAt have passed ont Of
the country, she gold that has been scHmuIatlng
will Acon begin 10 follow It, unless the paper cur.
1rocJ has been placed on sound eAsis Of fres
baDkiug, 10 thA1 II viii be obliged to contract aud
expand with the requirements Of rade- h tac
currency question u not settled before that tine
conner, II te volume Of currency Is then a. index
ihle a COW. Ill that we arc now experiencing VIII
be repeated
The following were the cxposts Of gold and stl-
Ter from the port Of New York dnee January I,
lsG9, tne total being coMpaIed with the corre-
arHnnHtdy t,eftnH nj last