Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-01-22

~ PLAN.
Gen. Butlcs has plan "A financial plan
that be has worked up with vast labor,
and which he has brought forth in Con
gross In very elaborate manner. II is or.
isinal, aud that il il chief merit He locks
upon gold and silver-in coin-as relics Of
ha-osrism that should bs no 'onger tolsra>
ted IN free aud highly enlightened conn.
Try. His ideal is . paper currency now and
forever. That currency carried US safe
thrssgh the war but he would have il -
regulated that when in excess IL can b.
retired into interest paying bonds, but
when the demand 10 greater than the
supply then convert the bonds back into
currency. He thinks this sliding scale
a,justmsat Of the currency win regulate
the evils Of beth expansion aud csotractisn
% fer - paper Issues are esncssned and
bscoms an unmistakabls barometer Of the
Of the condition Of monetary Affairs.
Gsnsral Batter has another idea. He
thinks that paper can be made the stand
ard Of value. ~ specie now IL, by csasing
Z, use gold and silver for currency, and
thus make it worthless. This will DO found
an extremely difficult job for one nation 10
accomplish. while the balance OF the
world continues to recognize gold and ell
yer a. the only standard Of value. THE dec
liration Of . government that . piece Of
paper stamped TO the effect becomes there
bv = dsliar. docs net and 80 not make y
80. Would the continental currency have
had any more value II each issue had the
acknowledgment Or stamp Of the Govern
meat Or stamp Of the Government upon il
that II vas Just the value that tho dsnomn.
alton spsa il represented il 70 be 2 Wosld
that have prevented Il depreciation from
going on just ~ rspidly ~ II did until it
reached the point Of worthlessnsss But
,he sllar in coin. with its value stamped
upon it by the Government, underwent ne
depreciation or change, but continued to
repr ssent tho standard Of value. General
Batter has not yss discovered the secret BY
whisha paper dollar can bs made the equal
II gs,d dollar, nor is IL probable no will.
The Hon. Thomas Ewing. who was Sec.
Rotary Of the Treasury Under President
Fillmore. has again entered the financial
Arena AMI presents his panaeea for our
financial ills. lilo opposes immediate re-
sumption upon tho ground that such a
psliey would increase the trouble which Is
sought 10 be avoided, entail . large addl-
tionsl Indebtedness upon the debtor class
and augment the present indsb. ednsss six
bundled and afty millions beyond VIVA, it
nov 10. lie thinks thcre Is no obi cation
on tbs part Of the present generation to d,
moro than "a ke.p down the interest and
let other generations pay tho principal. -
lie goes. also. step further than this, and
il - that the holders Of this $50 bonds
have no right to expect the payment oftho
prin ,ipai of their bonds IL gold To end
oas financial troubles, Mr.. l. wing proposes
10 Issue one thousand millions forty year
f'nr per cent. b ,nds, principal and interest
payable ia g,ll, and with them redeem
the whole issue Of 1862. This plan. Mr..
Exing thinks. would compass cur 6nar-
cal difficulties.
We think 1t better to let financial leg
isla;isn alone. or any attempt by legal
saactnen. to remedy tho financial troubles
Of tbs country. II there is retrenchmcnt
aai strict economy in tho public expen-
Sos aud the resources Of the nation arc
developed to the extent they are capable
OF being, we think the laws OF traie and
the. increased prosperity Of the country
viii right all our troubles without the in
scrvsntion or legislation Of financial dec
toring.