The Carson daily appeal. [volume] (Carson City, Nev.) 1865-1870, 1870-03-04
THE CALL FOR MORE CURRENCY

The unexpected strength developed in the
House of Representatives in favor Of Judge
Loughridse's resolution calling for the issue
Of $50, OO0, 900 more to supply the CONNER.
cial wants of the South ard West, IS one OF
the signs of the times. Those portions OF
our country are suffering greatly from the
lack of those banking facilities which we en-
iov in comparative abundance a: the East
The cry for more currency is loud and con-
stant. If not listened to, il will soon become
iruperious. We cannot sfford to disregard
the monetary interests Of the larger and more
progressive moiety Of our 81 sterhood Of States.
The opposition to the issue of more cur
rency comes from a source which should
make US suspect the disinterestedness of the
advice. II comes chiefly from the limited
class of Eastern capitalists. who are interest
ed in the monopoly of money When the
question arises, What shall be done to supply
tae wants of the West it is entirely iliogi-
cal to ask advice from the antagoni>tic in
serests of Wall street. The money market
should be regulated BY the great law of de-
mand and supply. If fifty millions are not
enough for the pressing wants of the West,
eighty or hundred millions should be issued
Instead Of the arbitrary decision by Congress
of any given amount, it would be still better
to establish system of free banking, BY
which lust the necessary amount of currency,
Western market. In this way prices would
rapidly increase, commercial ease would pre-
vail, and the greater assessed valuation of
taxable property would WELD a rich return to
the national treasury. At present, all indus
try in many of our States is effectually para
lived by lack of money. Why should it not
be issued to those States, when it is evid, mt
that BY 30 doing the benefits thence arising
weuld be not sectional alone, but national
also s-WdshiagtOn Chronicle.
This hints at what is wanted to in |
sure that development in the great
agricultural districts of the country thar
is imperatively demanded. The time
las passed when the great States OF
the Ohio and Mississippi valleys are to
be regarded merely as the producers for
Eastern markets. The West has attain
ed its full majority; and should be al
lowed the handling of its own money.
Moreover, the more means the West has
the larger will become the interests to-
ward which the East looks for the em
p,oyment of labor and capital. Chicago |
illustrates this. She is, primarily, the
ward and upgrowth of Boston and
while she has enriched herself she has
given a corresponding share of prosper
i;y to her pu,ative parent. The Chicago
and Northwestern Rail~sy also illus
t-ates the wisdom of western investments
O. money for that highly prosperous
rad is mainly owned in Massachusetts,
II, then, the development of the Wesi
through the investment, of Eastern CAPT
tai euriches the East, why may We not
look for like results when Western farm.
ers, mechanics and traders are furnish.
ed with adequate means to unable them
10 widen the area of their investments
TIE richer the West tie richer the en-
,ire country and with our il!imitaole
resources for basis of assurance of fu-
ture prosperity there need be 10 appre-
tension Of danger from the issue of
tven the maximum amount named by
he Chronicle.