Rensselaer Union, Volume 7, Number 44, Rensselaer, Jasper County, 22 July 1875 — No One Expects It. [ARTICLE]

No One Expects It.

No one ever expects to see gold take the place of paper, as a circulating medium of exchange. It is the wish of all that paper money, which must always remain the occupant of this field, shall be put upon such footing of certainty as Mrflfll secure that confidence which gives equality in value and purchase

ing power with gold. That is all. The prosy disquisitions. which are written on the “value of the gold ' dollar over the paper dollar,” , are pointless and fruitless discussion of a question on which there is no difference, and tend no more to the solution of the method of securing a good paper currency, which; all agree we must have, than the theories about the habitability of the moon tends to explain the phenomena of spots on the sun. We repeat, that intelligent inquiry, agree about the abstract question of the value of gold, which never can become a circulating medium of exchange, all again agreeing, is seeking some practicable method of giving paper an equal value. The paper dollar which promisespayment m golden demand will secure confidence and be of equal value 1 with gold, when a practical test is -made by presentation and payment in gold. All candid men must agree that the ratio of one dollar of gold to four of paper, even—the I limit of theory of specie payment —is not possible now, nor will it probably be soon, for our gold-in-terest debt exports all we produce and receive in exchange in our trade with Europe. This very fact, the impossibility of basing our paper currency on something we haven’t got, and can’t get, is impelling inquiry to other methods of securing the value, and therefore confidence in —our currency. Right at this point we are met by the manipulators. not tlie producers of wealth, who fight for the field they occupy; and out of the confusion of prejudice,for old methods, personal interests and narrow general views of the question, all manner of opinions and theories are maintained, without any very distinct understanding of them even by those who hold them. It is noticeable that the bullionists maintain their theories in just two ways: By denun eiation of those who do not agree with them, and by pointless maunJ dering about the “value of the gold dollar” in which no one disagrees. Whilst the denunciation is relied on to persuade the thoughtless of their wisdom, their maundering about an abstraction is to confuse shallow thinkers.— lndiana Farmer.