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Updated: August 2, 2024
To this honorable course, aided by the resistance of the General Government, acting in obedience to the Constitution and laws of the United States, to the introduction of an irredeemable paper medium, may be attributed in a great degree the speedy restoration of our currency to a sound state and the business of the country to its wonted prosperity.
Alas! if people could only be made to feel that every word, every action carries with it the weight of an eternity; that the merest chance may make something said or done quite unpremeditatedly, in vexation, sullenness, or spite, the last action, the last word; which may grow into an awful remembrance, rising up between them and the irredeemable past, and blackening the future for years!
While he faced his problem silently, the Committee on Ways and Means in the House took the matter in hand: Its solution was an old one which all sound theorists on finance unite in condemning the issue of irredeemable paper money. And what did the Secretary of the Treasury do? Previously, as Governor of Ohio, he had denounced paper money as, in effect, a fraud upon society.
Secondly, a political reason, to get this land distributed among the thrifty middle-classes, and so commit them to the Revolution and to the government which gave their title. It would be a great mistake to suppose that the statesmen of France, or the French people, were ignorant of the dangers in issuing irredeemable paper money.
Flanking the church there had been a communal hall, which was now shapeless, irredeemable wreckage. A public well had stood in the open space between church and hall, with a design of stone pillars about it. The open mouth of the well we could see was choked with foul debris; but a shell had struck squarely among the pillars and they fell inward like wigwam poles, forming a crazy apex.
He has done me deep and irredeemable wrong, and has entailed upon his child an inheritance of shame. What had he or I done to deserve it, I ask?" Barbara felt half frightened at her vehemence; and Barbara might be thankful not to understand it. All her native gentleness, all her reticence of feeling, as a wife and a gentlewoman, had been goaded out of her.
The first of these was not of a nature to call for, or perhaps admit of, direct and specific legislative interference. It originated in a vicious system of contagious private speculation, which has involved many thousands of those engaged in it in irredeemable, shall we add deserved, disgrace and ruin and which had better, perhaps, be left to work its own cure.
Paper money has been issued, for the most part, on the one or the other of two conditions, namely: as irredeemable, when it has been made to rest on the vague obligation of some government to pay it some time or other in property; or as convertible into gold and silver on demand. But under both conditions it seems to have been impossible to preserve it from excess and consequent depreciation.
At first, despite the rigour of the Home Office, the education and intelligence of Varney have their price, the sole crime for which he is convicted is not of the darkest. He escapes from that hideous comrade; he can teach as a schoolmaster, let his brain work, not his hands. But the most irredeemable of convicts are ever those of nurture and birth and culture better than the ruffian rest.
Notwithstanding the millions of square miles of arid deserts, irredeemable swamps, frozen tundra, and impenetrable forests, the agricultural and mineral resources of Siberia are almost beyond computation.
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