New-York daily tribune., 1865-11-23
1,rRRRNCY -REsUnPTION.

We Hrp amazed that any should beheVo--B
seyer.l who write Us seem 70 do-that our
,re.ent watored Currency operates either "a
Protection TO Homo Industry o. az IN lmpedi.
men, ,o excessive Importation. ltha- no more
effect in that way than al act OF Congre''
changing the denominations oi our specie Cnr'
rency. 20 that eveg hslf-doilnr should be called
, dollar. every h,li-elgle an eagle, would have.
.cannlo necessary 20 argue - pI1in propo-
,ition'
Resumption would help Our Home Industry
in this way. Men hate to invest money an
House,, or Mills. or Minc-, or Railroads, when
they know that s 900 thus expended now will
70 no further tAGn $50 would by.snd.by.
They naturally choose 20 lend their money on
stocks. or invest It in Gogoument bonds and
thus wait til the Currency hardens and Prices
fall. before putting il into structures that are
certain to be- chcapened by Resumption Who
can be ignorant cf thi-'
But about Importation.
We are now, aud have long been, importing
far too many good, especially of costly and
sumptuou- Fabrics. The duties on Imports are
highs the rates OF Exchange heavily adverse
20 that = 900 sent abroad for good, viii not
return Zoo worth to the American consumer;
vet wha, cares the man who has made $4,000
| IN tao or three speculative operations? what
cares hi, hon.iollowing, drcs,-adoring wife
They jointly 90 ahead and pooh-pooh tie ex-
pense; so that Wines at - to so per bottle
are drunk as freely as when they cost 50 aud
80
Let Us resume and you will see Imports
falling of, people grown suddenly economical
superb dresses made to do for ten or twelve
parties instead of one or two, and q sudden
pulling up all around. If We could resume on
the lot day Of January next, we should impor;
One Hundred Millions worth less in l-66 than
We should on a diluted Currency; and that
I would be Just 80 much clear gain.
-" But our Public Securities, now held
abroad, will come back upon us.
Let them come! We heartily wish they had
never gono-wish they We're all back to-day
! If those who now hold them send them here iol
ale. they can only sell them for what We may
be willing TO pay for them. We profoundly wish
they would send every bond back tomorrow, sell
it for coin and take the coin away. We should
be stronger then. aud better able to resume
| thar wo now are
Why won't people see that debt is tie mar
obstacle to Resumption II We owed Europ,
nothing, We might resume tomorrow on
quarter Of the specie We have in the country
! Nobody is going TO run the Banks for coin but
! those who need it in their business. We (fol
illusiration) receive and pay out nearly 81 900,
900 per annum in our business, yet We use No
coin but little change, and rarely need OF
draw even u trille of specie from our bank
But il we were importing Silks or Woolens
Wines or Metals, We might want coin to IN,
extent Of half our business, and the bank,
would have to supply it.
| The notion that debauohed Currency stiml
lates Expectation is a sheer falacy. For few
days (or hours) after the premium ON Gold take
long leap upward, Expectation may be stimu
lated; but the prices Of exportablc staples yer,
soon adjust themselves to the new rates of Tx
change, and then all is fiat again.
But we cannot export heavily at present, fo
want of the raw material. We have MT tn,
staples in large quantities to spare. What W,
shoud do is to reduce our Imports to the loves
figure until we can grow heavy crop mex
vear. And this most needed reduction will h,
greatly aided by Resumption.
Rulcrs Of tha Nations policy iu behalf o