The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1870-02-18

stored. These results can only be ap
preached gradually and secured aftc
;. the lapse OF considerable time, but thel
are all attaiDable and suprcmely dcsir
able.
| MIR. Speaker the mere financial polio,
OF Tie present Administration, SO far a,
il is intclligiblc to the public, is fatal,
defective and unjust. 1t ignores Tho
necessity for the reforms to which
have referred. Ii refuses to comprehend
the general situation and to appreciate
what it demands. IL is empirical and
illogical. No financial policy that doe,
not contemplate these reforms can ever
be permanently successful or give endur.
ing prosperity to the country. They lie
at the very foundation of all true policy
The proposition of the Administration
10 contract the currency certainly prom.
ises no rcliefin this time Of general finan.
cial stringcncy and emergency. Tho
volume OF the currency, now about eight
hundred and thirty-two million dollars
NEARLY twice as much as it ever was be-
fore the war, is very large. But the on
erous. unequal, and dishonest of systems
lof taxation and banking tend so greatly
TO foster mOnOpOlies, speculation, and
lillegitimatc ventures. and TO concentrate
vast sums in the hands of few. and in
a few great commercial and financial
centcrs, that it is Il matter Of profound
doubt whether the general welfare OF
the country does not demand further in.
crease Of the currency in addition 10 the
Increase that would result from the pro-
posed change in the banking system.
believe many interests would be bcne-
fitted by moderate additional increase.
| The experience of the world has not
determined and no financier can pro-
nounce ex cathedra how much currency
lis needed TO conduct prosperoliSly the
Exchanges ofanycountry, or what should
be the precise relation in amount be-
tween its paper and specie curremcies.-
The country most demands rest from too
exhaustive contributions to the Govern
ment. reduced taxation, and especially
in the indirect, covert, iniquitous, and
enormous impositions of our internal
revenue and tariff laws. and time TO re-
lcuperate It's ovcrburdcncd and languish.
ing productive energies. This rccupc.
ration, with the rapid increase Of the
population, industry. and commerce oi
the country will do more than the wis.
dom Of IT, GSagres;s 2,hergise dEs,c,sd led = +
to-day. =
1 A. The excessive burden of taxation
involves direct addition TO the cost o.
production. and to general prices. so an.
material reduction of such burdens vii
lreduce the costs of production, lower
lpriccs. increase the purchasing power o
lmoney. and thus practically augment tht
sui,icicncy and power of tho volume O
1.-The currency in existence III the time. :
THE aggregate of the currency Of this
lcountrv has never in err past ii>tor,
lbecn maintained for any long period o
l,imc al a uniform sum. 'Undcrour inor'
or less defective and vicious systems %
banking and currcncy-inaking before th'
war il was in constant process of change
cither toward imitation or contraction
land the country lad many expensive
land bitter experiences Of the folly o
such financial policy.
;. The following table. compiled witt
Icarc from the best atiainablc sources
will be suggestive TO rejecting minds il
lconncctiom with our financial history:
statistics Of the currency of the Cnitct
States, including bank notes, green
/, backs, and specie.
CrERrNCy