New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-12-22

the excuse of ungenerous treatment.
@ses.-z-~.r-.s-r-ss
The Secretary and che Gold Dealers.
r. the Editor ef The ~ Y. Tribune
SIR: Your comments III last Thursdays
TRIBUNE very suggestive and yet not decisive OF the
great question How shall Government be managed to
prevent the fluctuations OF value produced BY the Gold
Exchangei say your remarks are suggestive because
YOU Justly point out Mr. fessenden's omission and
after clearly describing the difficulty yourself. close
without practical remedy As the topic Is an open
one permit humble citizen TO make few suggestions
to the public through your columns To introduce the
subject permit me TO make two extracts from your ar
tice before referred to. Yousay;
The Secrctar, thinks that the exorbant price OF tho
precious metal is due very much to specua,ioi ana
combinations for that purpose he proposes to PUNISH 10y
law. That We suffer from such speculation Is unaues
tionnby true; but be justly remarks, 50 long as
there remains large ana increasing necessary Ior ~,
(god's) use and limited supply. 1t viii command
price commensurate with the necessity and the dibcuy
of obtaining IT, This necessity arises from the demand
fr gold pay duties the interest on the pubic aeot
and foreign exchange. The duties and the eold-bear
ing interest are far identical that one is dependent
on tie other"
And again;
"A prohbition Of the expectation Of gold not pan-
that is likely to meet our difficulties ior We must
nav our honest debts home and abroad. so long ~
we can Neither viii the issue OF more cufrency the
privilege DO which the Secretary wishes lodged IN
his hands. That. it seems to us. would only agera'ne
tie evil We want to lower the price Of gold. not en-
hanoe it,"
To nv mind Won strike the keynote, when you reply
10 the Secretays proposition to punish speculation by
penal law by saying the Government cannot do this e
fcctuay while 1t demands gold for duties, and pays 1t
for interest on its bonds To this fatal Discrimination
Of tho Government ITSELF between one Debtor and an
other. between one commercial transaction and an
other are we 10 attribute oil our present monetary
troubles The value Of Government bonds does N0 anu
never did depend upon the specie clause hut upon the
amount and efficiency Of taxation and revenue. Aud
the specie duties did and never wall have more
than moderating influence upon the amount OF import
atoms The Determinations never ought TO have been
made The sooner they abolished the better. How
long think you. will the more recent lenders to the
Government (now when its credit is comparatively i'm
pared be satisfied 10 receive interest III currency,
while tho early lenders (when the National credit was
good.) ere getting double rates in gold'
Let Congress retire those goldbcartng debts. AMI
pace all its creditors on the platform, II it has 20
buy up the bonds at the present rates OF discount AT
oil events the debt payable In currency. VIII soon pre-
poudera,e immensely in amount over the Others as
to create popular interest that will secure the REFORM
sooner or later Marx the prediction. Well: the gold
hearing bonds being retired, and the duties made pay
abe in currency what will DO necessary 70 prevent
oyer mportatIons andiadyerse exchanges, Which even
now create the demand for goldf There can be but
one remedy-prohbitory importation laws. II Is just
as easy certainly to manage tho relative imports and
exports as Ii is to regulate trade as Whole. III the
two can be kept a, equilibrium. exchange will be nearly
at par partial embargo and sreyision OF our reve'
nue. laws, are undoubtedly the remedies for gold
gambling Let our Government say TO England,
France and all the world: ave will buy Just as much
OF the products Of your Labor rs you VIII take OF the
products VI ours-and not dollar morc" Let this be
DONE ond the gamblers occupation s gone" And
hi, recalls to mind conviction long since entertained.
that no protective tariff is worth straw. for any long
period in country that has expansive pdpsrmoney
system. The currency viii sooner or later stimulate
extravaganza and the importation OF foreign Injuries
You justly say prohibition OF the expectation of
specie is not panaccn for the difficulty; Tor a. may
add If prohibited it can easily be sens abroad surTep
titlouslY.
But what shall say Of your closing remark; eve
want to lower The price OF gold not 70 euhsnce f'
Perm, me to answer this question thus; We 10 not
care to appreciate or dErcciate gold, but during the
present national struggle, dire on, ion into
The strong boxes with Ito diamonds and rbies. The
one l. of No more than the others. 1hi, was what
the British did during their long war with Napoleon.
Is what nIncynine huudredths OF the people Of the
United States North and South have done since July
ls6 Win It lie more serious thing for the huadrodth
man to he Pvt in the same category No country ear
r,ing ou such gigantic contest, can have metallic
currency Tie thing Is Impossible. Gold and silver
represent labor already performed. PAPER is PROMISE
10 pay hereafter Paper money answers 10 war. which
Is always u costly investment of blood ard treasure
upon credO In the hope OF future returns. II IL Of no
consequence 10 us thea we do not handle hard money
for decade 80 long us labor is kept up and DO
nestle exchanges made, in government paper that
symbolic. oar Astounding wealth and national glory.
Isyou deem the foregoing observations too radical.
crude or visionary for publication their own mer-
It's. perhaps their publication might elicit true remedy
for the gold disease from some ono else. Ma
A MEMBER or A DIsORDERLY GANG STABS
Az OFFICER-Late on Tuesday night Officer Cole Of
tho Seventh Precinct ordered crowd Of young men
ttuv nf