, 1861-10-04
GbiraqaGri
FRIDAY, OCTOBER 4, 1884,. =: ::

G0veH2MeA& EAAAnHeA,
From the N. 7. World, Monday a1t1cle1
The New York banks have gained shout
94ogNo to $599g9o tn specie each day Of this
camille loans have fallen below 410O, ,000, 600
At the associate banks meeting to-day, it was
asreed, by unanimous vote, to take the second
iustallment (e50, ,000, ,0J0} Of the Government
loan; some details In the arrangements are
lst open hl Monday. 1t Is not improbable
the third so 000, 600 Of the loan, thus agreeing
to supply Government with the whole $780,
uN,W0-suHctent for the war expenditure
un.l FebruaIy.- It is-Tery satiEf factory for
tie ration to know that Government is in
complete accord with ths bank managers In
standard, free from initiation BY an unnecessa
r. issue of Treasury demand notes, and that
The sFecnlatoIs who hoped to fnancler an in
fation OF prices BY Issues Of an irredeemable
Paper currency, to the imminent danger Of
cur Union cause, have been signai]y defeated
In their schemes to sid the rebels, Govern
! ment means to adhere to the principles Of
foonee Recognizing specie as the only money!
embbe1sd in the Sub treasury system, Us those
sound principles have been pronounced RIGHT
b. the calm, deliberate, ano well considered
judgment OF the people of these United States
when they voted down the United States
Bank. The wisdom Of their decision was cor
robotated BY the veto Of Andrew jackson,
aid was in accordance with the opinions
Of George Washington, Franklin, Jeffsr-
son, AID all the best intellects that
sided IN founding our republic. Government
can obtain by loans all the money required
to prosecute this war With rebels and SO long
IS The money is borrowed from those who
Lave it to lend the nation benefits thereby, be-
cause Government then does not depreeiate
The currency by an issue Of demand Treasury
notes, but eimpiy borrows unemployed or sur
plus capital to expend in cash Tor the pur-
c1ase OF domestic manufactures, agricultural
products, ard American labor, thereby taking
the place Of business discounts to the amount
trade Of the alton in its exports By keeping
tie prices Of our products down to specie
6taEda1d. This policy also provides an extra
tlade for cash to the extent Of about $575, ,000 :
COO pcF annu1n, which exceeds in amount and
adE.niage to The country the average
tie war ef 1872 tie advocates Of GOV
ernment Issues of paper, similar to demand
Treasury notes without specie to redeem them,
Wtre opea opponents Of government, traitors
to their country, who suggested the scheme
IN the hope that government credit would be
hcpe1tssly ruined thereby, and the honor and
best interests OF the country fall j sacrifice to
his cabinet merit the hear'iest gratitude OF
tht!r fellow citjzen5 for their frames in r.
sisting the pressure of designing spectators,
WHO would gl4dtY Fec an issue Of denaud
Treasury nctts without specie to rsdeem
tGl III, III order to further their oWn selfish az
grondizelnent at the EXPENSE Of ths nation
anu the oation's honor and credit The scheme
is 80 transparent:y for the advantage Of the
rehcls that it is simply another phase of the
cf "the irredeemabla note spectators" is the
nations Taiu.