Year: 1869

article for the North american IeOjeW In
abuse Of New York city at two dollars page,
will thrust temptation aside by locking the
certificate in his strong box.


Another Job for the IRE asury Rinss


Massachusetts, seems intent on regulating the
national finances, debt and currency in its own
way, and to suit particularly its own supposed
interests. The appointment of Secretary Of
the Treasury, besides another Cabinet officer,
assumption of the Massachusetts men. A
Mr.. Amasa Walker Of that State has thought
proper to ventilate his ideas upon plan to
meet our financial difficulties and to make
everything smooth. Of course this plan, like
all the rest, is predicated upon the necessity Of
forcing specie payments, though the writer pro-
fesses to be careful not to disturb the business
relations and values Of the country. The aim Of
Mr.. Walker and of all such financial doctors is
to get rid Of the greenback currency This, in
his opinion, is the source Of all mischief and
the obstacle to resumption. He proposes,
therefore, that Congress shall authorize the
issue of compound interest notes, like the old
ones, to an extent equal to the legal tenders.
that is, three hundred and fifty millions Of
dollars, or so many as may be necessary to re-
deem the greenbacks. This is the principle Of
his proposition; the rest is only an outline for
carrying it out


This is simply another job for the Treasury
ring to make money, to enrich the bondhoid-
ers (of which Massachusetts, has great many)
and to give the national banks all the advan-
tages and profits of q national circulation. II
Is most atrocious attempt of the Treasury
jobbers again to fleece the government and
people. Congress is asked to convert the
only sound currency of the country, the legal
tenders, which pay no interest, into interest
bearing debt, and thus to increase the annual
burdens of the people about twenty millions
year. One would suppose the interest on the
debt and the taxation necessary to meet 1t
were heavy enough already, without increas-
ing these twenty millions year. What ne
cessity is there for such a changer Green
backs, as was said, are the soundest and
most acceptable currency we have. The
national bank circulation even has to be
redeemed in this currency, and the banks are
required to hold reserve of it as security for
their business and safety to the public


Greenbacks are the peoples money, are
based directly on the promise and credit of the
government and are as sound as the fabric OF
the republic. Why, then, change them for any
other? Why especially change them for in
terest-bearing notes to add twenty millions to
the annual burden OF the debit 1t is simply o
monstrous proposition. 1t could only be con-
ceived of for the benefit of the Treasury ring
and few large capitalists. This is the COM
mencement Of jobs and raids on the Treasury
under Mr.. Boutwell,. He organized the inter-
nal revenue system, which has proved 30 cor
rupt and oppressive, and the country will be
fortunate If greater corruption, incapacity and
mismanagement of the finances be not seen
under his administration than even under that
Of Mr.. McCuiloch. Mr.. Boutwell, is not fit for the
Treasury; he does not understand the great
questions of national finance, Is local and con-
tracted in bis IDEAS and views, is merely .
politician and one Of those narrow minded
lawyers Of which Mr.. Sprague spoke as 10
damaging to our government. It is high time
that the vast affairs of the republic, and
the finances, should be taken out Of
the hands Of theorists and politicians Of the
Massachusetts, school. Let US hope Congress
win not listen to the schemes of Treasury job
bers, but will let the legal tender currency
alone; for under II the country is doing very
well, and In due time will arrive at specie
basis by the laws Of nature and trade.


DU CHAILLU CAUGHT.-The explorer, some
time famous for his captures OF the African
gorilla, has finally fallen into the hands Of The
Cuban guerilla