Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1874-03-06
A NEW IDEA IN FINANCE.

We clip from the San Francisco Chroai-
Gle the su1joined amusing account of GER
{ in transactions of which it might be
Considered scarcely worth publishing, ar-
tr the discovery of our Bowling Green
cotenporary.
While we do not assent to the lit
e"al truth Of all the statements made
we can vouch for the difficulty of qeai,lq
people to listen and to think, which
after ell, scenes to he the main thing
the Chronicle man is driving at, and of
which it is clear he has had abundant
proof, as well as ethers. We have,
more than once, read in the columns of the
Mercantile Journal what the Chronicle claims
to have ''looked lise conundrum," and
hoped that those in authority might solve
il. We can testify to the fact that the
Mercantile Journal Co have spent much
tine and money in order to bring facts
r,lating to finance pltiniy before the
public. But listen to what the CZronic,.
says:
IL is OF course impossible that among the
myriads Of men who now suddenly develop
the possession Of theories and IDEAS concerning
national finance, some sound sense should not
here and there become apparent. Even our
neighbor the Wrapper has little sometimes-in
communications, from persons outside its office
One OF the theories which the present excite
ment is bringing into notice was originated by
Wallace T. Groom, OF The NEw YoRK MERoAN.
TILE JOURNAL, and by him happily condensed
into the following proposition;
In the interehdngeablity Cat he option OF The
HOLDER Of National Paper Money Wih government
Bunks bearing fixed rate OF interest, is q subtle
principle that ,oW regulate The moCenlsnts Of Aaance
and Commerce as accurately he motion of Ae
Steam Eagine isIegnlated by its Goveyuor' Sch
Paper Money Tokens would be much nearer perfect
| measures of Udlue than gold aud sHcsr srer hare
been or eUer cdn Be. Tie me of gold or other n,sr-
shandise as money is bUbarism Hn,0orthy Of The
age"
This can scarcely be said to be a new inspira-
tion. MIR. Groom has been prnclaimiug Il for
several years past. lie publishes not only The
Mercaniits Journal, but four or five hrst-class
commercial papers, and has been ia the ha bit of
putting that proposition in Italics beneath the
| title OF each. In that position, however, Il
always looked like conundrum, and people
| without irving to understand it, used tp blame
him for making his humorous department so
prominent, aud still HLt giving it more variety.
| lie went further. Every now and then he would
stick that formidable paragraph. as a paid ad-
ysrtisemeni, Into other papers, daily aud wee ky;
out oFcu theIe III ulu not attract much atte nllnD,
| because folks used IN think it was new dodge
to advertise gift show. Determined that
| somebody should see II who would get an idea
| from II, II Is affirmed that he got into the way
| OF teieRraphing II from time to time to vaiOus
| potentates and dignitaries. The Gar never
took any notice oft. Gladstone turned 1t over
to an ecclesiastical council under the hallucina-
ton that II was subtle argument in favor Of
| paPal infalhbity'-a question which didn't
| concern him at all. The Steele published the
| copy sent to the Emperor Napoleon, and lots of
| Perslans OF geoinetrical tdrn Of mind tried to
work Il out by equations. Bismark threatened
| to have the messenger hung who should bring
u To him the third time. Grant, when he got
the second copy, only one day after the first
Groom having sent him by mistake the one
intended for Victor Emanuel,) made an excuse
that one ofhis colts was sick, and went right off
to Long Branch until special officer could see
Groom and tell him 10 quit. So il went all
around and still Groom did not despair. Now,
At last his patient persistence is beginning TO
bear fruit. Under the spur Of the panic, peopla
looking OD all sides for some 81 stem which
would promise immunity from such disaster
In the future, got to work on Gronms theory,
and good many who have studied IL out affirm
that there Is good deal 10 H.
Seriously speaking, there are some strong arr
guments 10 be adduced in favor Of the plan,
which he thus more EXPLICITLY states;
A cnrfOcy as nearly perfect as anything
human can well be can most easily be secured
through proper management Of the Treasury
Department not at the dication Of the Secrs-