Daily National Intelligencer

ON GOVERNMENT PAPER.

Some zealous correspondent at a distance, advanced in years, as we should judge from his hand writing, has paid 25 cents postage to convey to us the following sentiments. The motive being evidently patriotic, we do not believe our dissent from his opinion as to the bank question should preclude it from appearing before the Public.

TO THE EDITORS.

Gentlemen,

Congress seem to be very much puzzled to find a fit substitute for specie. They have waded a whole session through a labyrinth of difficulties and perplexities, and at length have accepted the bank bill, it seems, because they must do something. The right way, gentlemen, when seen, is never trammelled with so many difficulties and uncertainties: and at best, that measure proposes to remedy but a part of the evils we labour under. The great oppression the citizens labour under from a horde of shavers and speculators, who refuse to take paper of any description without a discount, will not be remedied, an evil perhaps, more destructive to the peace and morality of society than any other.

Why not, sirs, adopt a paper tender? It would be simple and plain, answering all the purposes of private as well as public demands. Why do we suppose it would share the fate of the former paper tender, when Congress have now such ample power to bind the whole nation by any conditions they might impose? If every person was at liberty to fund such money as gold and silver, and if no other money would be received in payment for back lands, it would be an advantage claiming attention. Add to this, that as soon as a sufficient amount for the wants of government, moves into circulation, tax the people up on all government demands, continue this extraordinary revenue until the national debt created by striking the paper money is sunk.

The idea that men would not give their property for such money is fallacious: That which will pay all a man's debts, public and private, and which alone can purchase back lands, and which he can fund as gold and silver at pleasure, and have the whole of the United States bound to pay him with interest at a given time, in specie, will always command perishable property (which is the kind we want) especially, when perhaps nineteen twentieths of the people will not have more of per money than will satisfy the public demands against them. And the whole of the paper money in circulation, drawing no interest, will save to the U. S. a large sum without doing any injury to the individual in whose hands it is.

The people will not be terrified at the name of paper money when they see the causes which produced the depreciation of the former paper currency do not now exist. When the public revenue presses, even the old miser will be hunting it up to save his old rusty guineas.