The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1874-12-19
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THE CURRENCY.
This is gradually assuming the front
among the political questions which attract
the attention of the country. The anguish
ing condition of every branch of business,
is forcing the public mind daily more and
more to contemplate the currency question
as the only road to revival of trade and
renewed prosperity. The heresies about
paper money being an equivalent for specie,
and a stable basis of trade, is gradually
giving way as it must inevitably in every
well balanced brain. 1t was predicted by
the leading paper money and initiation advo-
Gates, that when the balance of trade was
in our favor, gold would come to us and
resumption be natural consequence
The result has not justified the prediction
with our exports largely increased and i'm
ports decreased, the gold still flows from
our shores where it is not wanted while
paper takes its place-or rather, where 1t
can not come into use while redundancy
of paper money is atioat.
The Government has 3S4 millions OF
sreenbacks circulating among the people
as money, every note of which bears on
its face "promise to pay one or more
dollars. The people are waiting for the
time when those dollars are to be paid, and
that promise redeemed; and it is only their
faith that the promise will ultimately he
redeemed that keeps the paper dollars from
becoming as NOitilSsS 10 thS
money of the Revolution. lntrinsically
the greenback dollar is not worth any more
than the old continental dollar, and only
the difference in the ability Of the Govern
ment to make it's promises good, which
exists between these different epochs, that
makes the one utterly valueless and the
other worth sst cents.
The very words on the face of the note
is an acknowledgment that the note is not
a dollar If it was an actual dollar, the
promise would not be found on it to pay
the bearer dollar. There is no such pro
mise on gold or silver dollar. On the
coin will be found the words one dollar
no promise there is needed. Every man
knows he has reached the Uitama thule of
money-to borrow a word not properly
belonging to finance. The specie dollar is
the basis of all credit, and will not tluctu
ate in value, except as man is enabled to
multiply the productions of his labor by
increased ingenuity and skill. A man with
a thousand gold dollars in his pocket knows
he is worth exactly one thousand dollars.
This satisfying certainty is not confined to
himself alone; but his neighbor is of like
mind, and not only himself and neighlo
concur in this opinion, but his creditor
beyond the sea has no doubt Of the fact
either; and the thousand gold dollars can
be readily converted into the money of
foreign country by the aid of crucble and
dies. The neighbors may have doubts
about the ultimate value of thousand
paper dollars, and the foreigner will GER
tainly entertain very grave doubts about its
instrinsic worth, and hence confidence is
shaken, credit is injured, and business Ian
guishes. No other device under the sun
will restore general confidence, and revive
business, but 4 preparation for and ad-
vance toward specie payments The pa
per dollars Of the Government will be as
good as gold when the world knows that
the Government stands ready to pay specie
in exchange for them whenever demanded.
The road to prosperity and business is over
a golden street, and if this Congress has
the ability to comprehend this, it may yet
retrieve its lost honors and restore conf
dence to the Republican party; but if it
dallies away the session and does nothing,
as it seems disposed to do, the people will
overturn and send men up to the capital
till they find those who have the courage
and wisdom to redeem 1884 millions Of paper
dollars with gold. That is the work which
must be done and no party can refuse and
live.
THE BALTIMORE CUSTOM HoUsE.-The
Washington correspondent of the Balt-
more american says: Especial Agent Mills
and Brown, of the Treasury Department.
who were some time since directed to make
Il thorough investigation into the affairs Of
the Baltimore Custom House, with view
to reduction of the expenses thereof, have
submitted their report to the Secretary of
the Treasury. The report is, as whole,
favorable to the administration of the af-
fairs of the Custom House, although some
structures are made in regard to the condi
ton of some of the departments. A re-
duction in the expenses of customs service
at the port, amounting to over $37, 900 per
annum, is recommended, and if carried
into effect, will result in the discharge of
some thirty employees. The Appraisers
office suffers the largest reduction on &C
count of the system of having a clerk to
each examiner, which is not practiced at
any other port, and it is the opinion of
the Special Agents that the Examiners
should be competent to discharge all the
clerical duties connected with their posi-
lions. 1t is also recommended that the
vacant positions Of Local Appraiser, au-
thorized by law, be filled, and that the
the designations of the two Assistant APP
praisers be changed to Examiners, at a
reduced compensation; that the Charge
office at Henderson's wharf be abandon
ed, and that Lazaretto Point be made a
boarding station, with accommodations for
customs officers in the warehouse building.
THE New PLAN.-Nothing in the way
of advertisements has appeared this season
that will command SO much attention
the remarkable advertisement of Messrs.
Wanamaker & Brown, corner Sixth and
Market streets, Philadelphia, that stands
out to-day so prominently in our columns.
1t is emphatically eorth reading. There is