Press enter after choosing selection

An Historic Parallel

An Historic Parallel image
Parent Issue
Public Domain
OCR Text

JLowards the close of the reign of Charle3 XII. of Swedeu, it bocame impossible to raise tho nieans to carry on his wars, eitber by loans, or by taxing his impoverished subjects. In this dilemma Baron Goertz, his minister of fiuanoe, struck on the idea of ooining money of copper, and stamping it with the value of the same weight of silver. ïhus what was formerly a penny becaine with the new stamp, fifty pennies, o. Here was an irredeemable ourrency. Absolute uioney, backed up by an absolute government. What could be better? It was legal tender. It was made a crime to deprecíate it. The Treasury fixed the issue at a limited amount. What was the result Y The price of all commodities ran up so rapidly that in a short time money was scarcer than ever. It took so much of this copper money to purchase anything, that the stringency was awful. Then despite the limitation a second batch was coined, and the same result followed. Public indignation at length drove Baron Goertz into exile ; a lucky bullet knocked Charles' brains out ; peace carne ; the copper money went to the dogs, and Sweden recovered her liberty but never her former power. - Ypsihtnti Sentinel. . ■.■.■.. The fifty-five offioos fillud by visiting statesmeu and men concerned in nullifying the votes of States constitute, on the theory of the adiuinistration and of civil service reform, so rnany " rewards for per8everenco in truth and honesty ; " while the critics of the administraron olaim that it should be placed under the head of bribery and corruption. Coincident possession of the fruits of crime clearly convicta four-fifths of the thieves and stoleu gooda receivers who are brought before magistrates.- New Tori World. - --4 - - - -


Old News
Michigan Argus