The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-11

Goyernments pledge not 10 issue more
than four hundred millions Of It's own
notes. merely remark that that pledge
Ia binding in honor. until legal-tenders are
redeomable In coin on presentation, and
when that point il reached there will be
no desire, as there will certainly be no
necessity, for the Government issuing ad-
ditional notes.
The great and, TO my mind, unanswer-
able objection to this scheme is that II
places the currency wholly In the power
and under the direction Of Congress.
Now, Congress always has been and al
ways will be governed by a partizan ma.
jority, representing one Of the political
parties Of the country; and the PROPOSE
lion therefore reduces itself 10 this-that
the circulating medium, instead OF hay.
ing fixed, deieTminate character, shall
be shifted, and changed, and manipulated
according 10 the supposed needs OF "the
party" Iproiess, Mr.. Chairman, TO have
some knowledge Of the American Con.
gress; its general character, It's Ptrs2aHei,
is scope, its limits, it, power. ] think.
on the whole, that II is lar
more patriotic, intelligent, and up
right body Of men than it generally gets
credit for in the country; but ut the
same time, ! can possibly conceive oil no as
semblage Of respectable gentlemen in the
United States more utterly untitled TO de:
termine from time TO time the amount oi
circulation required by "the wants OF
trade but, indeed, no body Of men
could be intrusied with that power. Even
II 1t we're possible to trust their discre-
tion, their integrity would be constantly
under suspicion. II they performed their
duties with the purity Of an angel OF light,
they could not successfully rcPel those.
charges which always follow where the
temptation. TO do:wrOng is powerful and
the way easy. Experience would very
soon demonstrate that no more corrupt
corrupting device, no wilder or more
visionary project, ever entered the brain
Of the schemer or the empiric.
II the people OF the United States were
fully awake and aroused to their interests
and could see things as they arc, instead
OF increasing the power Of Congress over
the currency they would by the shortest
practicable process divorce the two, COM
ple,ely and forever. And this can only
be done finally, ciIectually, and irreversir
bly, by the resumption Of specie payment.
Why, Mr.. Chairman, it is hardly an ex-
aggeration to siy that, ever since the gov
crnment was compelled TO resort to IRE
! deemable currency during the war, the
assembling Of Congress and its contInu-
nnce in session have been the most dis
tnrbing elements OF the country. II is
literally true that no map can tell what
day may bring forth. One large inter:
cst looks hopefully to contraction and
the lowering Of the gold Premium an
other isruined unless there il such move;
ment.cward expansion rs will send gold
up. Each side c,oicourse, ,endcayOrs TO inilu'
cncc and convince Congress. Both sides
naturally have their sympathizing advo'
Gates on this floor, and hence the subStan'
tial business interests Of the country are
kep, in feyerish, doubtful, speculative
state, Mems minds are turned from hon.
cat industry to schemes Of financial gam'
bling, the public morals suffer, old'iasli'
ioncd integrity is forgotten, and solid,
enduring prosperity, with honest gains
and uuict contentment, is rendered im-
possible. We have suffered thus far in
perhaps as light degree as could I've cx-
pcctci under the circumstance; but 0nce
adopt the insane idea that all currency
. .hai be issued directly by the Govern
mcni, and that Congress shall he the
Judge OF the amount demanded by the
wants Of the trade" and you have thi.
country adriii, ruddcrleS', on sea oi
,ronhlcs. shoreless and sOundless.