, 1869-09-09
MONETARY AND COMMERCIAL
MONETARY.

| Ane lIne II Probably near at hand when tb
usua scarcity OF currency Incident to the cro]
mofe.aenss win afFofd favorable opportunity fo
~ po"t'cAas 10 lake up tho refrain that tht
r.s..ts,sS " currency IL oos largo enough for sht
ne'aeA OF toe county. The CIT for an e1pan.
os"u VI INC currency viii hs aided b. pe.sons who
nsa-,. musa 'uouRnt' haFe taken up tho Gro
80 1.as,". $1,000 .uAt 'ae government aaou!d In some
~ ehu1A* tno soinhe Of currency IN accordance
s..s.s.. 49,. ".als u tseae' Instead OF allowing tho
oni..,, ~ Auc ''se7 70 te1asa'e The volume re.
9 ofc eu5chcg VIII probably te do
" eooRteh* ~ People who either do not
r, eor ~ AinA VI WHO VIII fcfuse 10 Sec, that tho
Ss,.s',. "1s no oceaalon tot tnc!taa'nR ~ 1n'
ueoteuurs7 " Msulhg norc currency, bccAusc Ia
revenue GEetter shan l,s expenses, Ani that The
4fcasufJ hot tclnE bnnk, aud not being ayle To
iuAn money, has no fe%olrrc fur tho
cpP'oJnehk OF III surplus funds ex.
cePt 10 reduce tho debk bY
inc pnfchnse Of bonds. Tic Eovrfnucu, Il. t,crr.
'o1c' heecfsasy forced into contraction u, ~ ou.
s'anaInR lbdrltedncfs clhrs 10 tho l,onrIs or lhe
Hrteaoaekf' ana hal ho resource, nor prctc1t, Tor
.ue1cu1'oR khc hRRfc1Htr Of tho debt ati .njoyInR
Ia o"h efedh ~ l'suhg more rspia..ory nu.rn,
l".an: nj M i'7t- Hut, ws1iIe r,ll"f fsun tt..
"uEenr] 1hat VIII, Probably. be trlt this fn, n III
N...e! 'ef IN th!s ~aF by partlash .,eu.agnxte.
~" ,e 'E"''aht "hh arr hHf ~ thr1,, tic Hlyrt
.1''t'"' ta1t VI the hutlscsa community, ot
n"n'.''r thHJ, afe hfstnn1ng 10 tux more anil
inule VI system pf .ftft fH!f mai H1ntip, M ihr
un'l t!ehna lflhs VIII af1nr1 a tc 1Lble rus,rnr1.
that VIII aJifl lthe5l hJ e1ranIlny 10 the pre- s,n9
Hrmahhs OF the fall ma Rrflng tuasut 81. sud con
lfatsbH In he dull sratUh when tlrFe /, u, usa
5of II. There u no reason VII! The corntry shoul,
nat hh5e )Hs: a. much CURRENCY q.
Gan ~ KEPT ah"ae Hi''Iont depscc',tln. In ta'ne,
Tut rcllef from thr scarcity Of currency afuu IL,
t"''Sh ny M fnra"nfe "h'rb, IN aY,hnfEfng ah
h!ease OF ts foiluie, 'loes not nj fe lame tinle
tHl'Hh'e Ft"'sH't3 1"f an hfFr"Hch toward sEorle
'Fuln'''ofl. IN lnrohtcttlhle tHffchcJ, like ttie
FNtFht government currency. oAnnut be IIIrTeAtu,1
r"n."t "riH''la''hu' @hh ihF "hty rsan lhst
"'''' n1'"'! ~ Hn 'Ro1fase N 'he t"lutne NJ Inn
..e'' "'.ous hopFrc'a'''a = :" h'ake banking
nv ~ =" nahNhR "fEnhlfafl"ns lint tnrsi
.",", ~ ..'a''h' ''"'F l1'E"f' ~ r'9h"r Etern.
y" 's"f R"'''' 10 afr,f'A'Fe ~th sH'f, Trlh'te-
H'''r =" tu"Ae ~ I'M Het'"th' '.AffrI"t ACT. II.
M Wv "A"'' t'"''' W" f'ftst'''AlS 1"H'nnialinH
H"at". ~, VI 'pIi'M5 W l'h tyranny H"f" "#h'
.''" ,, /" /" e'"e""',.'t "'sfa ~n''l h" asln~, hut
A'A'"A'' ApH""" '""h1" ts"4i'Iftlns. ttrrans",
~'aa'h 'aet" srhrta. thn
.' .''..,,. ""' -, ., -" '""k'" "a Asep m1f"
n !" e.' an" ~heae''f
w,,'a ~. "as"" ''s' r.".t'na a'' t"st
n,hl,. p,ss, t',,,. rn,",,,,,. ~ ~, eonHseas u
,'n, ,,'ss .t',",, NV "'!"a a. pal,
nk ME,
80 Sa,Ia,'nt t,.,, ~ :. "." 81. ~ 'Ar 1i'tes u
t,sa<. m,',, .nun .s,,< "..a .ae aeeras't't' os
,o,nt,x ~. .,,,nM' ~..'',''.s " a'' pas's VI tne
!. .,,o,,, 49, on,,as suc NV e!noeA'
IN n,,e,.so =, 49,. 1870. - a''' oe'"ea
~, T.. .,,r.. -. "An' " ."c ''eoI ~ oe
-. H s aSaa ~ @ee'f"aHee Win The
'+'7s s.Ah""''" " tnoto ol E1ecpbocka
eno'o w ea'.eneo aouually. II Must, therefore.
1uaI no tauu's9n coula fesalt from Tree
~
sou'.nta'5 neta IN CHECK oS tnc gradual diNinn-
.!on - sIeehoasNs' "n'en "on'o oh'Ee the oanfs
sno1se. ~ ana ~ e9nl'nnail5 Keep
.n.'.e" .uc p'oslN~e " !ceaoo1aol- ino comnoncst
.taoe e.suIs akainoe eGanse u sae present mixed
u"ol sS., a.' s.,euoaeA eutseue5 io1 one ent'eei5
v. 1tl. sattsln .'auH aoHn laa's ~ a'o"!pg the
ss,s RsssnaAs " ne tn1nea lueo interest," bearing
.'' .Se1In' % oeeons ~. -,uIon4' naaA CURRENCY,
e tne ns W"u,o iose INC luseicss on nearly
no.-, ~. ,n...o.. W eie ueos WHICH BOW
nsMa1s ~ '4'.!s - autheleae answer 10 ta's,
tas Eau " SHOWN
suas tus paeseat Nauoual banSa, Which
ua.e o".s sst"'"p'.Vo ol carculatloo, rald
tass seaf' III stase aua nas'oaal Lakes, eighteen
Miiions ol aoEaFs' " nile owing 10 The desperation
VI tae Rleenoacksr saefc bcin9 no o2e taIab1c TO-.
ethoaon tefponslb!e lot them, ainost no
.a1 concc'ea on tne capital inTcaied
~, ~ tAen. 30 mat thonsh the Interest
..o' " Nue so'esnaacia .n'Sut bc !ac1SaseI
~. 50. p'o!otN.oa u tne efeehnacHs rs ~efe
~ auusu NV pouus. 1pe 1e'ehac WOULD be increased
~ i.uen k'ea'es ptoIoft'ou t'0s as'ae from thts
ny, no.!u We sasaes u 2nosses WAY
.He ttsasass ~ ~ noi1s ou au a'esnSe tson <'1'oeo"H
~ y. 'u4e sui' neiops'nSt tae govern
A'Ia' 4ot ~ ieA'ons' fifss' ~ aeaus ol eos-
:. ,", - ~ ,lo ko'ctu"eh' eteals-'ol II
- pl4A taat u ~" 6ola pasaaco VI lue lfeasury
we're nlo*ed 10 be I'll shsd, or cSen 10 rim down
Ftf5 'o", say Iout or hSe f1tillons, confidence In
the ability Of the government 10 redeem would be
lost, and both grccnfHcta and bnnds would depre-
c1ate. Another reason for Weeping SO much
is, that there Is no way for the
Treasury TO nsc Its e1rplns gold except by selling
II lot Ereeabacks. Which co1tTacts the currency,
and produces an outc1y from the distressed COM
Mefc!a1 community. The keeping OF $3.50, 0nb coo
OF greenhacks a1oat, then, oh1iges the government
TO Keep fyDn fG cen fo1 10 MT, 119 OF Eo!d ide
hit Without any OF the adyautages Of advancing
towant resumption Of specie payments bv that
means II tue government were relieved trom
the onerous task Of continually pushing the green.
hacks iuto circulation, to relteEe the commercial
Eeccts!tIcs OF the country, thls &, or STa-
CoCrf9 or gold could Ike used IN the purchase Of
fe0tNd n 0! tunus aud thus sayc auuual7 rs 100.
Upu Of interest in gold, ct1ual To
over s6,sgn,eo0 IN currency. On the whole.
when The increased revenue from the taxation Of
capital and circulation OF additional National
Ranks IA taken into const1rra,1ou, mil thc s,1Inr
OF ,nteresf On the ,sonds rutchasc. with thr snr.
mas gold Of 1hc Trcayur1. there c.u be but little
question that the government would gain rtore
titan II rpu{ lose In the additional !utrrcst m
such potl,on Of the Rtceuh.eks ~ might be- ron,
yfrte, ntp l,rnds TINT tterr ar. sfJ,J othcr n-r,
,reuts in ta,or Of Increasing Tie numher of h,nts
They ntc tho oniF means by which all the captaI
Of The country Il motKci and tna1e arnlab1c 10
at Eesrec!attr IN tan agricultural .Ifatrcts Honl
remain hearted, Or Mt lrast unll: ei fypcaslee the
wunld.tc tnrtuwrrs md ttie wau1.1-ite lcn,lrss
t1p roi meet. I he t,ank, however, Nhesc The
titrns!tnt kres iia llnt,cr rrccIsiD. lu song IT,
stalcts slraHs, t'.t m"tletatc Interest. answers
the safne purpose ls ueen t,nstuntys n,t jetn1cfs
ttat t;trIu r,4t 1'tc,,1r" Es,hanre ,1r. .t rear
llr hnttts e,rl s'l!tra nf ttu*e rf,1urtp. "Th!+
rtlr,,rl" Ia er rtll ,lnt, .it III c.tau.i," sa,s
t,n,t IN I'll. Ttra'sn m f,ntl..r, "ti,at i,tn1"h
.at 4rn s,itt,ritpps est a1,rtn1 II, rnnt .1I=t,s
WITT MI, " Ut 'otatnrr tnt4tr pr"nt tt,m tnr
tt,stttlts rtt,h ~" ,nns upt int,n,t,r,a MI
rth,f stt ,nrh tr tA rs,l t1,,n, tier i.rtt,,rt
tet,ttrr Ia ihat mutiItt, =, VI ,uu1s,,
t,nE,ta h.irs I" enb" r,t,ns i. Hrult,,t,u
ihn .np, ,4jalt,p II s,ti,ai I, lhn rt,,..,
a ..}t}l,uttt iti l, hstne tn,,u,trht NJ t.tlt
h.. ...,u.. n,,1 ..,.,t ,,. ,
nn,
~ Wv. f''H''f y "e''",'1 ~ ""H t"t''"' WI"
u'''"a'''s' s6'l 'A"'ss fh'' hfs't i"IhI"lh'n ih
lha sa,sA4, ,,ml rnt .tr4,Nf r,ahnluy hu",i..
!, NIT, n, ,i,h ,i.Lft'u,iite,., H.,
,,,u, ,n,n,r H., .,ui i,,t,n,n, ~ ~, ~, ,,,,
tut TT" H ns'i u',at ','s,tt. rn,t rn,t na,a 'sr
ln'im' u'tn' nj a's*ntae' Il h''tns IT. u4t'4t
n,tt. ,,an IN ,,I~r r., ,hr ,,,,,. .trr,r.. ,u,u,
tue ,t,. ,,u,s, i,r, hn,e unsl, h t.r tt,1,,,,,t
tnt htt.,t loan. Ia 4t,ruI,,fr, t,um In, v, h,t
nra mu.,, thttt t,f ,ryt ~ r,ntr ,.,rru ,nrr.
L. 8, ,,.l ..,,.,,. =. 49,. 80