The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-11-18

are, guaranteed by the respective Canton
governments, Parish appraisers who are
legally bound, when money is to be
raised on real estate, not TO appraise the
same any higher than their undoubted
value. Nfb/h.fA fe.
Paper money emitted upon sound
basis, and for which the country's wealth
or in representation thereof, the coun-
try's treasury, as security is legally pledg-
ed, would be well enough, but not q rag
paper such as we have got az present and
which the emitting government itself
will not take.
What about all this hard money ado ?
The government can not coin more gold
and silver than what II possesses lawfully
and unpledged. If there shall be mere
it must even be bought, and Bonds must
be given for it, by which transaction the
Country's debt will in the same ratio be-
come so much more insecure as the mon
ey for current business gains in security,
and nobody will gain hairs breadth in
financial Vigor or strength. a8tf1l
Gold and silver, and also Platina of
which the Russian money is coined, have
by no means an immutable value, not
unfrequently the price Of them raises,
In 1866 at a bank in Munich converted
a bill of exchangeinto silver ! wanted
gold for the same, but the bank would
not give it because it stood high. What
do you pay for the Napoleon? asked.
8 Florins and Al halfpennys, was the
answer. Can you make use of few
thousand pieCes2 / inquired. 0 yes, If
they are here in24 hours. In half an
hour telegram was on its way to St.
Gallen, and on the following afternoon l
had profit of 2l5 florins, empire money,
in my pocket, because had to ac-
count for only 20 Franks apiece for the
money. a1 In.N0 |
The only immutable and sureregulator
of currenCy-value is the legally guaran-
teed promise of the gold or paper emit
ting government, that it will receive the
same at all times at the full tax and duty
value of gold or silver; it matters not
then if the currency consists of precious
metals, paper, shavings or Confect.
l should think that General Spinner,
through whose hands immense quanti-
ties of money have passed, ought at any
rate to understand more of our finances
than Schurz, and Spinner is in favor
of paper with securely placed pledge.
So far we can reconcile ourself TO paper
money. The silly twaddle of Schurz,
that the government would continually
emit more and therefore ever worse pa
per, becomes utterly untenable as soon
as metallic pledge is given for security.
Gold in itself and also silver is nothing
| but simple substance. Its natural value
is not to be regarded as any higher than
| that of every other matter, that which
gives precious metal its value in COM
merce and traffic, is the certainty we
have that we can barter it everywhere
for other articles or commodities and that
which should give to paper money its
value would even be the security that
the issuing authority and the guarantee
ing nation should at all times acknowl-
edge and receive the same at its full NOM
| inal value. Here we arrive 9t point
which does not look very favorable for
paper money. 80
/ once sold, without security, a home
to man who had not means, though he
was diligent and active, but in the mean
lime, and before the legal ratification of
sale had taken place, became convinced
that in the family expenses there was
more waste than what the man in the
long run could support. Now what a
family consumes or squanders is not
newly created or exchangeable value,and
therefore, not because of the lack of
present means, / broke off the negotia-
ton. m so
About the same thing, and in it's effect
precisely the same, we see before US in
the Union. The people do provide and
furnish but the central government in
every possible way squanders unnecessa-
rily and, alas, even dishonesty, more
than what is justifable, and in the long
run can be raised. 1t we would
have sound money, call it gold or paper,
J we must first and before all, have a
healthy administration. Private pros
perity in nation, can increase at the
same time that the national treasury de-
creases. JI.
A circumspect, honest, economical and
saving government would provide coin
sufficiently without having recourse to
paper, and any other government would
run buOTG 0N6u Will DOOl COlh hhO pa
per.
, A merchant who can circulate every
, where his popular and acceptable bills
of exchange stands upon better footing
than another who, without credit, is
compelled to pay cash.
= Sacrifice pro bonum publicum has
never made anybody wealthy, but our
government experience of late proves
that few years residencein Washington
makes millionaires out of beggars.
The country can be convinced of it,and
the future will show th.It those of her
politicians who to-day speak and howl
but for hard money, have their secret
and unclean designs and objects as we'll
as those who defend irredeemable rag
paper Provide true men for all bran
ches of the administration, dismiss and
send babblers and clowns a-packing; in
crease opportunities for production and
develop the resources of the country and
sound and healthy commerce of itself
will find and prescribe the right curren-
cy as well as the right standard of coin
age. #..n aMI lL
F. LENGGENHAGER.
UTICA, N. Y, October, 1876. 'ua
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