, 1876-02-26

am told thAs be fa very wealthy, and that hs
nptes ara, therefore, as good a. money, and. 10
point Of fact, are money. and will pass cur.epe
~ such. It Is sfue lhat,- between myself and
other creditors Of hfs we are compelled 10 'hao
his unpaid notos to effect our exchanges, NJ wo
havc nothing better to uss, our own real money
having been all spent good while ago. A con-
siderable portion Of II was advanced 10 our
debtor On bis notes. We t,ave boon expecting
THAI, SOONER OF later. ho would pay up and,
consequently, rather than stop business Alto
gotlier. We uso bis notes to certain limited OF.
teut for buying aud selling amongst ourselves.
Strangers won't thave anythin8 10 do With thsm
As currency. But thu constant doubt of
their nvsr bsinR paid makes IN almost
reluctant to buy OF sell nnrthng on auol nu-
certain terms; a. loAst, Il takes on Al the edge
Of our natural dehiro 10 trade and mako monoy.
We arc strongly iucned to be thrifty and money
making. hut We dhrs not ventura upon fenrtoaB
rcinanerasiye bdslnoss on sueh a quicksand -
theso notes.
THIS s.ate Of matt m along with Oppressive
taxntion. which raiees sl,n cont OF our manufko-
tures far abovo what our neBhbors czu produce
them for, r,-.-theroby restricting tho salo Of them
almost entirely 70 cur Own soives. aud present-
ing u from selling to any one else-has. as
amongst us. Closed factories aud stores aud
poyarty-atrickeo people provo tue truth Of tho
universal remark ot Dull times and nethlng
doing" Even prayer to God Is publicly onored
|, Now. in this extremity, II our debtor,
who. 1t In claimed, has vast resourcea-so vAas
~ 10 rcnder good ali tho notod he ohosss to
emit, however humorous they may bo.-would
only pay up. Or set about Ia earnest to get ready
to nay. We would vcry soon sec groat i'm
! prosement In our condition. We would have
contldencc, ot which NO llave scarcely any 1t
| HieHent. Confidence, hs Ia we'll known. is the
lilo Of trade: aud watt Of confidence must,
thoseture, be its death. It bus proved 90 With
Us. But, with restored confidence. VIC should
Lave iu reaction tremendous revival and ex-
tension Of business, particularly u. At tho snna
| or partially removed.
Our debtor. however, has. unfortunately.
lot or bad ADVISORS who "a! that his no.os.
paid: They hold that. although ir1cacutnable
yet being baaod upon his fsith and RESOURCES they
arc, ipso facto. money 70 wonderful tsanHforma.
tionl Q modern fulhltmont Of tho aichemiet'a
dream u; that they nhould 10 indefinitely ill.,
creased aud that 1t would iuiurlously interfere
with our stsgnant businoss were they 10 bo PAID
up In real money.
IcAn't sec, in tho fret place, that 1t makes i
centih difference wnothcr lrrcdecmab!c notes arf
baaed upon anything Or nothing. A bepgars
| note, which ho ia neytr bound TO pay, keoma to
me- Just as valuable, OF just ~ worthless, Bs =
| tulll!onaiEea nots upon the Aamo terms. l dont
looked upon ~ money. Thore is no real eouuec.
| ton between them mud money at all, bnt every.
thing that IL opposite, An honest mans note,
| payable at the bame time, poor thongb
be- might be-, wuuld ba much mora
like money, and much more valuable. But
how such trFodee1nabo uotos could help and giya
| Us confidence, Ia = creator puzzle still.
| Dad ~ our curroBcy is Just now, M additional
unrestricted issue OF such notee would mako It
| Infinitely worso,-Bo much 50 that, in worry
short time. tlsre would not pna OF us earn about
1 touching them with pair Of tougs. in tho way
| Of bus!ness Tho crisis will thon have come, md
| bankruptcy and ruin will be tho lot Of most of
I us. All mercantile buainphs will for tho tune,
10 clroctually stopped. by and by. In aa impoy-
eriEhed eoudlslon, aud like ono e!owly recovering
! from an almost mortal disease. wo shall mako
| be B very loug timo before II Is worth speaking
OF. I'm sure that then. however. whatever
business is doue will bo done NTH specie, or
opece-interchangenblo money aud that my ono
| who should bo 20 insane ~ 10 say
word IN favor Of uslng irredoemabie grecnbacks.
or other Government ootca. "bAsod on the faith
and reaoutces Of tbn country" would rno tho
nek OF being shot on the spot, or confined for
life in q Iunalc asylum, - = moet dangerous
Mhlmhn.
In conclusion, lat us have either one or tho
| other eithor specic-roAuMption. or an unlimited
hupp1y OF greanbacks. II wo can't get the lrst
immediately, let us have the second as 1t will
inevitably lead to tho first being soon fenced
upon us. II nay be- alas the only wsy. It
will be 4 terrible leason but 1t may benefit tho
country in the long run, by e1sirpatlne tho
"Eag-bahy" nursss forever. Respectfully,
! TuoMAn CouA1 1EHAY.