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The Daily Dispatch: April 8, 1864., [Electronic resource], Peace Coming through bankruptcy — a Blast from a "Suppressed" Press. (search)
ravelling now. As the Continental Congress increased its paper issues the price of everything went up, or more properly speaking, the value of the Government paper went down. At first this result was foolishly charged to speculators in silver and gold, just as similar foolish people charge now. All such were denounced as enemies of their country. In such cases the stores of merchants were broken open, and their goods sold at limited prices by committees appointed by the people. As early as 1776 Congress resolved that "whoever should refuse to receive in payment continental bills should be declared an enemy of his country." That is, all who did not succeed in making the Government's mere promise to pay equal to gold and silver, were to be outlawed. The penalties inflicted, at different times, to keep up the credit of Government paper were most disgraceful to all concerned in them — ruining many thousands of innocent people, while they could bring no relief to the pressing necessitie