Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-06-16
rconomy-A pubIic Necessity.

EtoUOlny NtttNNttLs
To the Editor of the Ledger;
Allow me to solicit your attention tC
the subject of the scarcity or rather
total absence, in this city, of small
circulating currency to supply the wants
of all classes, but moro especially the
poorer. In all communities largo or
small, the world over, except the South
ern States of this Union, the necessity
has been recognized and acted upon OF
supplying the people with fractional
currency even to half cents; but these
| Southern States seem TO disdain such
small things and do not recognize any
change less than five cents--so one, two,
three or four cents are beneath their
consideration. But | can assure that
the community will be very much bene-
fitted with proper change for small
dealers, for why should anybody pay
five cents for an article worth only one,
two, three or four cents2 or ten cents
for what is worth only six, seven, eight
or nine cents, and which differences
would be saved to the purchaser
by fractional currency ? 1t applies
to all classes-rich or poor. The
Olu DHdAllHl tdAt Nuit VI ptuNt uhu
pounds will take care of themselves" is
true and wholesome; but how can you
trke care of small currency when there
is none in circulation ? Ii life is made
up of small things, so is wealth; and the
saving of small change has been the
foundation of many fortune. And then
again, there are many pleasures in hay-
ing a small currency. How many chill
dren would be happy in spending their
one or two cents for candy, an apple, or
many of these small articles which their
parents will not and some cannot, give
their FIVE or ten for and which the one
or two cents would be quite as satisfacto-
~ as the larger sums, and which would |
be more frequently given, and, of course,
make them more happy. There are
many poor families who could make q |
living and by economy lay by some of
their profits, by having small stands of
articles which they could dispose of for
one two or three cents. whose capital is
not sufficient to have more costly
stock; and | have known of individuals
who from beginning by selling can
lies, peanuts, apples, etc, by the one,
.WO OF three cents WOrtn, are now OWN
,rs of houses in the city of New York;
md the same could be done here
1y little encouragement and assist
lnce by small change. My word for it.
he whole country will be much benefited
md degree prosperity realized which
s much desired and wished for. Let
he experiment be tried by the moneyed
Institutions and men of wealth. An ir-
'estment of one thousand dollars will
ring one hundred thousand cents, which
gill be insufficient, affording but two
ents for each individual, but it will be
to commence with. These
ents will have wonderful circulation,
nd no doubt a single cent will often
Ass through one hundred hands in
ay, thus representing one dollar, and in
Is insignificance feed two or three in
ividuals. The public will in one par !
cular way be benefited. The cars now
barge ten cents for ride; if they can
ct afford to carry for FIVE cents, surely
hey can for less than ten. But how can
hey make changer By reduction the
ublic would be benefited, and so too
ne cars. A small currency seems to
lie indispensable, and no community
an thrive without it. l trust you and
he public will take the subject in
srious consideration and immediate
ction. RICARDO. q