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"gold, Seventy."

"gold, Seventy." image
Parent Issue
Day
22
Month
April
Year
1864
Copyright
Public Domain
OCR Text

"Gold, 70." This ia an ominously bigli quotation. It meaos tl) at the greenbaoK dollar is wor'.li souiething less than fifty nine cents of real mouey - thut trices of uil kind.s are gravitatiug to tliat Standard - and ibat the public conlidenco in the natiunal currency is quietly but surely wanitig. For this alarming state of ihö finalices there is but onc remedy, which is, stop furt'.ier issues of paper mouey, and t;ix. 'Gold, 70 " This is because our inconvertible paper currency is rcdundunt. - t bas been unhealthily swollen f rom three hundred tnillions, tho aiuount alloat previous to tlie war, to soniewhere in the neighborhood of cight hundred tnillions. To get hack to a normal state of the finanoes these enurmous over-issuos must be reduced, and iuternsl taxes to tho extent of tbree bundred millious per annurn be lovied. Expansión haseoused thetrouble; contractiou alono can save it. Will 'Jongress please to put a stop to fur: hor issues f paper mo njy, and taxV "Gold, 70." Spcculation is rampant. All who have money ara fevered, and mad fer great gains. No one has faith in the government curroncy, and henee every one is anxious to incroase tho quantity to make up for the loss of intiereut value. The sharp, tho enterpris ing, the unserupulous, tnke great for tunea, while the mass of the working popultition is impovorished. The remedy is for the governnient to stop further igsue of paper money, and tax. "Gold, 70." Extravagance pervades every departmeut of society. In the midtit of a war, waftefullv lavish of human life, when every suggestion of na tional foeling should compel our people to gobernéis and Immility, revel bolds high eourt and pleasure toys with the hours. Tho remedy for all is the stoppage of further paper money issues, and pitiless taxation. "Gold, 70." Thi adds cncnuously to our national burdens. Tho debt we are eontracting iu dopraciated paper must be paid some day in hard eoio - gold dullar for greeuback dollar - a hundrod cents for flfty-niuc. This is a wasteful ar.d ridiculous excess - a tax placed upen posterity at once needless and cruel. 'Fo reduce the burduns of ourselvos and our children, Secretary Chase must withdraw bis issues of puper money, and Concress must tax. "Gold, 70." It will do no permanent good for goverunient to sell the gold in its treasury ia order to artificially chap en its price. This is a mere makesbií't; wrong in principio, and which will be inoperativc in practica. Tbe only effect will be to give gold to people who want it at less than its real market value. - We nmst consent to a reduction of paper money issues, and haavj taxation. "Gold, 70."' Aud do wonder with a national banking scheiue iuto opration which is in fact a process for coiiverting debt into eurrency. The bill shortly to be submittod to Oongrcss, taxing out of existence the issues of State banks, will help tha national currency somovhat ; but if the national banks supply the vacuüm thus created, by additional issues, the country will be no better off, while innocent people will suffer. We must stop the issus of paper money, and tax "Gold, 70." Secretary Chase, it is reported is to ba in New York this week. No 'natter what plausible scheme lie may have to propose to our leadiug money men, he must be made to nnderstand distinctly that all over the North, and in all classes of society, there is a unanimous demand for tho stoppage of further paper money issues, and for heavier taxa tioa. - Round Table, April 2.

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Subjects
Old News
Michigan Argus