The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-14

are 70 oanQle H. MemU$xo VI OOu6sO5o 60n0
rally know little about the matter. We hope
they will endeavor to raise themselves to the
height Of the subject. The effect Of contraction
must be disastrous. Nobody but the fund
holders or bondholders would be benefited.
The wealth of every one, all cOntSacts, debts
and obligations Of every kind are based on the
currency. 1t 10 easy to see, then, how the con-
traction of it would reduce the means OF all.
Universal bankruptcy, suspension Of industrial
pursuits and general suffering would be the
consequence. The resources OF the country
would be diminished and the governments en-
barrassed to meet its expenses and interest on
the debt In fact, the effort to return to specie
payments by contraction would defeat the
object in view, and. by throwing US into fnau-
cial and political convulsions, prolong thu
period for doing 80.
While the condition, resources and history
Of this country make our situation an excep-
tional one in many respects, we are subject to
the same general laws that other nations have
been, and we may learn from them.
The attempt to do this in France, under
the influence Of the fundhsiders, after
the revolutionary government had sooded the
country with assignats and mandats, created the
greatest suffering The same result followed
similar effort in England after her long and
exhausting wars with Napoleon. And though
our resources are much greater than those Of
either France or England, we should not escape
like consequences.
In our case, certainly, the only way to get
out Of the difficulty is by letting the currency
alone. Neither expand nor contract it. Time
will work the cure. The amount Of paper money
in circulation to-day is not more than will be
needed ten or fifteen years hence. Our popula-
ton will be fifty to sixty millions, our wealth
doubled, our trade trebled, probably, and the
amount of precious metals vastly increased.
Every year the currency will become gradu-
ally, safely and BEAUTIFULLY appreciated, and
at the end of fifteen years, if not before, gold
and paper will be at par from natural
causes and without any financial revulsion.
This is the plan we propose; and we call upon
the President and statesmen of the country to
adopt it, Let US have no tinkering with such
a delicate and important matter, but let its
solution be left TO the operation Of natural
causes.
Mr.. johnson, In his able and statesmanlike
course, is adjusting the political difficulties
arising out of the war. The Southern States,
under his wise rule, are working out their re-
demption. Every one Of them, as the Presl-
dent said in a letter to gentleman inthis city,
will be ready to take its place in the council
of the nation next December. The Congress
sional delegations Of all will be in Washington
prepared to take their seats, so well is the
work of restoration progressing. We have no
fear with regard to our political situation.
Let the same wisdom be exercised about our
financial condition and all will be we'll
The Political Campaign I'm New York.
General Apathy.
The political campaign in reference to our
November State election drags heavily. The
people seem to take no interest in it. Perhaps
they think that both parties stand upon the
same platform it is all the same whether the
election goes one way or the other; and per \
haps, in the grand game Of money making, they
have more important FISH TO fry. In any event,
although we have q plentiful supply Of fighting
generals on both State tickets, General Apathy
seems to be master Of the situation.
1t was supposed among the democrats that
the opening campaign speech Of John Van
Buren, would kindle up quite lively excitement
throughout the State but John has made his
speech, and il has passed away as Q nine days
wonder. On the other side, II was doubtless
supposed that the appearance on the stump
along the Hudson OF the radical Senator Will
son, from Massachusetts,, would stir up an
active rnstling among the dry bones; but SEN
ator Wilson has come, and has opened his
budget, and there has been no popular sensa-
ton. Where Wilson Is to-day, or where he may
be tomorrow, appears to be matter Of no con-
sequence. II was thought that the October
elections in Pennsylvania and Ohio would pro-
badly wake mp the people Of New. York to the
clamors OF the politicians bui those elections
have passed over like sluggish breeze over
the Great Salt Lake, without raising a ripple
upon the surface of the heavy waters. We have
never known a State canvass in New York in
which the people have shown so little interest,
or 80 much Indifference, as in this.
They have sometimes at race course con-
test OF mules or donkeys in which the effort
among the contestants is to come in last.
Among the rank and file Of each party in this
State there is considerable faction working
for similar result-.-the Greeley radical faction
on the republican side and the Ben Wood cop
perhead faction on the democratic side. The
result in November will thus most probably be
determined against the republicans by their
disaffected radicals, or against the democrats
by their disguised copperheads. Greeley fol-
lows Raymond with provisos and protests, and
Seymour subscribes TO the Haskin platform to
keep up appearances. Such ore the drawbacks
on both sides, and ii only remains to be seen on
which side they control the balance of power.