New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-12
o "a, Editor Of The n. y. Tribune.

SIR: Your journal has been the consistent
advocate Of speedy return 20 sound financial system,
since the closing the war. mainly upon the grounds
that the trade Of the country both foreign and domes
tic would easily accommodate itself 10 the change.
The revenues strength and credit of the Government
conclusiyely show that the country il both eble
and willing 10 restore the currency Ia specie standard
as rapy possible. The great impcdimcnts directly
in The way Of this important step are universally adj
med 10 be the local interests Of the trading classes.
All arguments against the measure. of every KIND and
character. are shown TO be, after an examination Of
them, inspired by the desire 10 protect those
local interests regardless Of the necessities Of
the nation The fact that the trading classes
entered upon their specuations during the war.
with full knowledge Of all the dangers which
they necessarily incurred, depriyes them of all
claim to the sympathy Of the community at this time.
peace having been restored and further resort to the
use of paper money entirely unnecessary The idea Of
per petuating the paper system sufficiently long TO ena
bio the business OF the country 10 grow its present
dimensions is one Of those decisions which men will in
duge in when they find they likely TO suffer severe
losses and when they allow themselves TO borrow their
judgement from their hopes and interests The business
Of IS 0 600 Of people will always keep pace with the
facilities that offered 10 them; and delay Of five
years even with the present system In force would find
the country demanding double the amount OF legalten
der TO sustain the then existing fabric OF uafic.
There will he no period within the next five years or
ten yours when the restoration OF our finances TO sound
principles can be easily effected AS now and II Con-
gress should be so unwse as to decline furnishing tho
fullest powers to the Secretary Of the Treasury coupled
with positive requirement that those powers should
blity OF the ruin that will inevitably follow. TO say
nothing OF the disgrace that will rest upon the Amer
can character
1t Is difficult to believe that Congress will be willing
to declare their want Of confidence in the judgment and
wisdom OF the Secretary and compel him 10
der his PORTFOLIO for such 1t is plain will be the result
OF the adverse action upon the measures he recon-.
mends. No Secretary Of the Treasury would be willing
20 administer upon that important department In such
crisis as the present without the confidence Of Con.
and with legislation adapted to the Of his
Wayne. and his subsequent official report TO Congress
prove that he has fixed and settled policy growing
out Of his convictions TO the condition OF the country
and what Is Indispensable 10 the successful aban-
donment OF most vicious principle and the resabish
ment OF sound one. In the Secretary's opinion no
temporiznR policy will answer the requirements Of
the situation Ample powers must be conceded
to him, compelled as he will be- to take advantage of
circumstances which must constantly occur in the mu
tatons OF the trade Of the country beyond the reach Of
legislative action or control
four remarks Of this morning under the caption OF
Land no calls the attention Of the country In way
that 1t cannot Disregard TO the unerring barometer
that is daily pointing out the path Of safety 10 the work
Ing classes. Gold at 40. with tendency downward
sure and certain compels the concession OF all prices
based upon gold as the standard to the point Of 1885,
and 50 It VIII continue to compel this concession 1t
declines IN spite OF legislation. In spite OF conventions
and In spite Of the improvdent loan lines OF the banks
still kept up to the extent Of the highest point known
during the war. The reasons for all this to be
found in the revival Of the credit Of tho Government
the termination OF the war the reestablshment OF
peace and the universal admission that the deprecia
ton Of the currency was deuson and crime during
the contest.
YouS call uDon the country to bs Of good cheer wiz