Year: 1862

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TaE SHINPLAsrER QUESTION.


On carefully reading the resolution offered by
Mr. Leefe, at the last meeting of the City Council,
relating to the suppression of the various issues of
small change bills which now flooding the city,
VIC are inclined to think that the plan proposed
will prove impracticable, for the reasons that it
will be exceedingly difficult for the Finance Com.
mittee to carry out the requirements of the resolu
ton, unless those who have issued these bills vol
unfairly come up and do their share, by furnishing
the securities, etc., required; for, after all, the
Council has no power to make any such regula-
tions, nor to enforce obedience to them. Although
the issuing Of shinE lasers is clearly contrary to
law, The Council if we are not mistaken, has not
the authority to suppress them, and cannot do it
by mere edict. 1t should be left to the Grand
Jury and courts, and the Mayor and Recorders
might assist as magistrates but the parties prose-
cuted would, of course, have the right of trial. and
could give bail and get released.


A body created by the Legislature of the Slate
for special purposes, may make laws and issue or
dinances on subjects beyond their jurisdiction, but
obedience rests entirely with the parties con.
cerned and if they do not see fit to obey, these
ordinances and resolutions fall to the ground
While we admire the spirit which actuated the
trainers of the resolution, and would gladly hail its
passage, if it were practicable yet as it is i'm
practicable, I'VE think that we do but our duty in
pointing it out and advising a modification. The
people of the city are laboring under the evils of
bad circulation which threatens the worst conse-
quences, and any man or set of men who can re-
lieve them, would deserve the thanks of all ; but
while trying to do good, do not let us fall into the
error common in these days of hasty legislation,
and enact laws which might have tendency to
make matters worse.


With due Difference to the able gentlemen of the
Finance Committee, we think that we can propose
a plan by which the evil could be overcome and
our people at the same time be supplied with
change enough to answer all their wants. plan,
while it infringes upon no mans liberties nor at
attempts to do anything which cannot be done,
will, we believe, accomplish all that can be
desired.


Suppose the Council assumes the redemption of
certain individual change bills with its own small
notes, under the direction of the Finance Commit
tee, in any amounts which may be presented,
advising the public, at the same time, not to en-
courage further circulation of such paper bv
receiving it. What would be the consequence !?
We verify believe that private slinplasters would
cease to circulate from that moment, and that
every man who held ten cents worth would
present them at the City Hall for redemption, and
our currency assume the uniformity which is desr-
able. The Finance Committee could then call
upon the parties who issued the bills they had
taken up, and ask redemption, giving reasonable
time, when time was required, and, while using no
harsh or ty1annical measures reimburse the citv
for the outlay made.


AS regards any further issue of shinplasters, we
believe that there would be further trouble, for,
as every one has suffered to greater or less
degree by this reprehensible currency, all would
willingly follow the advice of the Council and take
no more The men who have profted by them
would have to be content with what they had
already made; but if not, there must be some law
to prevent their further proceedings


aOur plan, while it does not make it necessary for
the Council to transcend it powers, ia exceedingly
simple and easy of demonstration. 1t would, of
course, make it necessary for large increase in
the issue Of city bills but as those bills are well
secured and are q thousand times preferable to
shinpasters issued by private parties no objection
can be made on that head


1t might be argued that the city would lose
greatly by taking up large amount in bills which
would never be redeemed Granting this to be 80
which is by no means certain, for we believe
that the greater part of the shinplasters now in
circulation are issued by responsible parties
might not the city as we'll invest money in buying
mp worthless shinplasters from needy people, as in
buying them food or in hundreds of other charit-
able purposes. The object is not, we take it, to
save money, for the liberality of the wealthy in
this city proverbal, but to relieve Distress We
wish to see those who earn only a few dollars per
month get their money in currency which will
pass anywhere within the limits of the city, and
we say that if the city were to sink every dollar
they paid out, it would be far better for taxpayers
in the end than to have the present state of things
exist indefinitely.