Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1876-10-06
THOMAS JEFFERSON on PAPER
MnNEV


'bills of credit,p generally called "conti-
mental money" In time, these bills-the
paper money Of the time, rapidly depreci-
ated. The greater their number the more
the depreciation, until about the close Of
the war they became worthless. One Of the
biographers Of THos. JEFFERSON (Randnll)
relates that IN the year 1881 he(JEFFERsoN)
was thrown from his horse and considera-
bly, injured, 50 much 80 that doctor was
called in. The doctor made two visits and
his bill affords a good illustration of an
inflated currency. Mr.. .JEFFRsoN's account
book shows that bill to have been $4,000;
that is, 81 800 n visit. His biographer
however, adds that "what sum in specie this
large nominal sum represented itwould be
difficult to tell" From other items in his
account book the doctor is exonerated from
extraordinary charges. For instance he
pays for three quarts of brandy $685. over
$50 quart. Mr.. JEFFERSON s revolution.
AIRY experience in fnancial matters rendered
him decidedly averse TO irredcemaJlc pa
per money. After the adoption OF the
Federal Constitution we find him firm
and constant ndvocateof currency hav-
ing for its basis the precious metaTs-gold
and silver. While Secretary of State
under President Washington he found
great fault with the Treasury department
because" as he complained to WAsHING-
al 4 r
deluging the states with paper money in
stead of gold and silver, for the withdraw
ing Of our citizens from the pursuits of
commerce, manufactures, building, and
other branches of useful industry, to occu-
py themselves aud their capital in n spe-
cies of gambling destructive OF morality"
Again, speaking of paper money in let
ter to EDWARD RUTLEDGE, he says: "What
do you think of this serippo-manid! Ships
are lying idle at the wharf4, buildings are
stopped, capital withdrawn from commerce,
manufactures arts, and agriculture, to be
employed in gambling, and the tide of pub
lie prosperity almost unparalleled in any
country, is arrested In its course, and sup
pressed by the rage of getting rich in a
day imagine we shall hear that all the
cash had quilted the extremities Of the ma.
ton and accumulated and stagnated here
III Philadelphia. That cash accumu.
lated and stagnated here, as soon
us the bank paper gets out, we find
its vent in foreign countries and instead Of
this solid medium, which we might have
kept for nothing, we shall have a paper
one, for the use of which we are to pay
these gamesters fifteen per cent" In an
other letter written by Mr.. JEFFERSON tc
Col. TAYLOR, he declares that "papel
money would be perilous even to the pape
men," Speaking of Congress he snid il
the same letter: az now deny their powe
of making paper money legal tender
In letter TO WAsHTNGToN he said: "Al
the capital employed in paper speculation
is barren and useless, producing like tha
on gambling table, producing no acces
sion to itself, and is withdrawn from com
merce and agriculture where it would hav
2 produced addition to the common mas
, 1t nourishes in our citizens q habit of vic
and idleness instead of industry and mol
atty" From all of which will it be see
that the author Of tho Declaration of Ir
r dependence was a staunch friend of char
I money" and a Jealous enemy of "rags.
, And yet SHAM CAREY and his few follow
+ ers who desire to kick up little stir
= the present campaign, to carry few R
o publican votes over to the Democratic Sta
r. ticket, dare to desecI ate the name of JEl
FERsoN by using it inconnection with the
greenback speeches, publications, &,
Nothing but the imperious necessit
= growing out OF the war, forced upon ii
+ country by demands, could justify the go
e ernment to issue her greenbacks-her j
d gal TENDERS. The Supreme Court sustaine
:, them only upon these grounds-because
e their being a war necessity. Should II
d government now, in time of peace, issl
,e more promises to-pay, she could not, md
l. the constitution, make them legal tender
The party that asks for such action, invit
the violation of the fundamental law.
says JEFFERSON, so says the Suprer
N Court.
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