New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-12-07
CyREENCX-FEHANCE.

CyKI.ENCX-FEHAN
As Congress-very properly-tahes time to
consider carefully the whole subject of Recon-
structon before acting defnitively thereon, we
beg that the Secretary of the Treasury'S
thoughtful and well matured recommendations
touching the Currency and Finances be taken up
forthwith and conclusiyely acted on before
Christmas Every Member Of Congress, having
deliberately read the Treasury Report and
its appendices, is prepared to act on
this vital theme: he knows whether
he does or does not wish our Green
backs extensively and rapidly funded, with
view to an early Resumption of Specie Pay
ments, and is qualified to act accordingly. If
he believes it essentially dishonest and dis
graceful to rest under the stigma Of National
insolvency one hour longer than necessity die
tatcs-if lie holds that the iancied advantages
Of "ialsc balance" are inevitably fallacious
and msleading-he can need no labored incu-
baton, by general or special, joint or separate
committees, on the Secretary's leading PROPOSE
tons, indorsed as they so thoroughly are, by
the President. Those propositions are, rr-
bGtim, as follows:
First. That Congress declare tina; the compound
interest notes shall 10 be legal tender from the
day Of their maturity.
Second: That the Secretary be authorized. in his
discretion TO sell bonds Of the United States bearing
interest al q rate rot exceeding per cent aud re-
dee mable and payable az such periods as may be con-
ducye TO the interest of the Government for the pur
pose of retiring not only the compOundntcres, notes.
but the United States notes"
- This is simple, direct, perspicuous. If you
desire a return to Specie Payment at an early
day, you wish the Secretary of the Treasury
f endued with the power he here seeks; if you
a prefer to founder on indefinitely in the mire OF
e Suspension letting the premium on Gold and
the nominal prices of Food and Fuel ftiully
advance and gddy huctuate, as they re Ger.
tain to do if we do not earnestly Try to resume,
, then You will manfully oppose or skulkingly
4 fight off the granting Of such power. In any
case, if you favor delay in the premises, you
mean defeat, and will be understood accord
ingly.
The measures proposed by Secretary McCul-
lOch are eminently conservative. They have
Io d4LiIAl Win lIlc ItNhItSS Idntdllil lUNOlNtu
, in a repeal of the Legal Tender act, which
would be fragrant violation Of the solemnly
plighted faith Of the Republic, as every one who
can read the back Of s. Grcenback must
know. The Compound Interest Notes the See.
rotary proposes to pay at maturity; if the hold
ers refuse to present them for payment, they
are to cease thenceiorth to be Legal Tender
Any undue haste in redeeming the Greenbacks
is precluded by the stipulation that they shall
be funded only so fast as six per cent bonds can
be sold to provide the wherewithal. If any ex.
cessive stringency is produced by the process,
the conversion will thereby be stopped. We
see not how any one who really wishes to re.
sumo at all can deem this policy reckless or too
stern.
Pass the two short acts recommended by the
Secretary, and we who believe Resumption OK.
pedient and wholesome, as Wei as required by
common honesty, may appeal to all who concur
with us TO convert their Greenbacks into inter.
est-bearing bonds, and thus promote the policy
they uphold. Every one who is sick at heart
of these greasy, illegblc, nasty shinplastcrs
whereby the land is defled and preternatural
expansion and prosperity secured to the bust
ness Of counterieiting, may push on the funding
of Legal Tender" in joyful hope that he is has
tening the welcome temperance ofhoneSt dimes
and quarters.
lie who feels that his rigid income is unjustly
diminished by the exorbitant prices melted by
our dcteriorated Currency, may invest whatever
he can, and induce his friends to invest also, in
the new Loans, with intent to bring back the
good old days when wallet-full Of Sos and
sos would buy a respectable suit Of clothes
In short, the passage Of the Secrctary's meas
ures will give those who believe in dollars that
mean dollars chance to labor in hope for re-
turn to National solvency. Now, they are fct-
tered and cannot move.
We wish cheap edition Of the Secretary's
Report could be strewn broadcast over the
land. There should be O million copies of it
diGused among our producers Of wealth before
Christmas. 1t is as full of valuable truths as
an egg is of food, and as far removed from the
bigotry which regards all paper money as a
fraud as from the mad folly which would per-
petuate an irredeemable Currency, and thinks
the Millennium may be attained through the
multiplication Of impudent promises WHch