Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1874-11-17
CURRENCY REFORM.

Editor Of the Spirit of ,Jct7ferson II put
into your hands two issues of the Richmond
Daily Wig, one of the 2Sth of October, and
one of the 29th, headed Currency Reform"
and, s'Scarcely any calls for Currency by the
West" The articles are short, and very able,
and fully adopt the reform of currency ad-
vocated in your paper for more than four years,
even to the demorazizing of gold. I hope
you will find an immediateEplace for them in
your valuable and public-spirited journal, as
the people should know that the first and most
able of the papers of the old dominion, now,
embraces the reform and casts its banner to
the breeze. In his article of the 2Sth he calls
the especial attention of that large host of the
Grangers to the subject: And they, while
eschewing PARTISAN politics, are, as political
economists, as deeply interested in fair and
honest measure Of Ualue for all they sell, as
they are in fair yardsticks, bushels, or pound
weights. JNo. a. THOMSON.
Summit Point, Nov.t.5, 1874.
CURRENCY REFoRM-We regard this as
the most important question of the day, and
shall, as soon as the pressure on our columns
caused by the Fair shall cease, publish a
speech on the subject delivered by MIR. Wood,
acandidatc for Congress in theLouisville (Ky.)
district. 1t is thorough and covers the whole
ground, and shows that there can be no res
toratiOn of prosperity to the laboring popula~
tlon Of this country until money ceases to be
merchandise, held by a few aud is augmented
in quantity aud becomes accessible to the
business classes of the country at living rates.
Gold must be demOnetiZed, aud the Govern
lnent must issue paper money convertible
into Government bonds, in quantities sufi>
cient to meet the needs of Industry. The
ten to thirty per cent. interest, which the
farmers and mechanics now pay for the our
rency necessary to carry on their operations,
in fact arrests these operations aud paralS zcs
all wcath-producing industry. There must
be a change in this, and the sooner The whole
mass of the people combine to effect it, the
better for them aud the country. 1t strikes
us that this is subjec: to which the farmers
the grangcrs-shuuld especially direct their
attention. Cheap and abundant money is in>
dispensable to their prosperity. To dethrone
the Golden Calf-to declare by Law Of Con.
grcss that gold shall no longer be legal ten
der, but that Treasury notes, convertible iuto
Government bonds, alone shall be, would work
ton. 1t would go far 10 reduce to practice
the divine teachings of Christ.
This is.'a simple. proposition which every
intellect. however contracted. can comprehend
The car of Juggernaut with its miserpble and
fanatic victims throwing themselves before its
wheels to be crushed, is often referred to in
moral and religious discOurses to excite our
pity and disgust ot the ignorance and bliud>
ness of the poor Hindoos. And vet the car
of Msmmon with its golden calf performs
daily aud continually the same Office for US
which however grating to our vanity, cannot
be denied With all our hoasted superiority
civilization and Christianity. We are all the
time tamely submitting our souls to be lost and
our bodies to be crushed by this internal ma
chine. And what sggravatcs our case, we do
it with our eyes open We know it is a fraud
and imposture, and yet We bow unresistiugly
to its merciless exactons.
The thraldom and tyranny of gold come
from the law. IntrpsicaIly gold is less valu
able than iron. for it will not mako an axe or
plough point It's value is impaired by the
law-which, in laud of universal suffrage,
is taken to be the expression of the popular
will. Let the law strip gold of its debt-pay>
ing power, it sinks at once to its true Lowell
1t will sell in market for what it is worth
neither more nor less. One pound of debt
paying treasury notes will then buy thou
sand pounds of gold and when We shall have
enacted this reform in our system, and foreign
nations shall come to appreciate it's wisdom,
ton of gold will not buy half ton of iron.
1t is strange how little real invention and
progress the great American people, with all
their boasting. have achieved Their vaunted
advance in politics wss the written constitu>
ton and government by tho consent Of he
governed. But in fact that mas. not ney
and then it went Down like chilGss hs'
built of cards at the first touch Of force
US inaugurate something that is nav and
ncfcent, and that will endure spdseSteft lh.
plaudts and gratitude of mankind fer aees
That new and bene6cent something IS tiise 3se.s
thronement of the Golden Calf, and the do
lverance of the human family from its nerci-
less tyranny.-Richmo"d Wig, Oct. %.
Gen. Butler and Newspaper Row."
Gen. Butler. in ono of his speeches last