, 1866-12-18
SECRETARY McCULL0CH,s POLICY.

Make Money Scarce, and Naukrupt
tho Community TO Carry Out Ials
Early Specie Redemption Theorrf
Editors Chicago Tt1hune:
For one do not believe In paying In gold
debts which were contracted In E,aper, unless
there be necessity for It. I believe the
country would be better off If specie re-
sumption wns deferred until the greater part
Of our public debt was patd of. The Sec
retAry tells us that VIC arc paying off about
Esoo. o.No,@4 per annuna: At this rata, we
years. Why then change cur policy, when
VIC arc doing 60 we'll = Does any man believe
that the people can pay their taxes aud in.
tGrnal revenue dues, If the currency Is great
Y reduced: Ny object, however, Is now to
letter from one Of the Oldest, wisest and
moet successful merchants and statesmen III
Caua ia.
Without endorsing all he says, or pro-
nouncing any decision thereon, 1t may not
With him In optuiou as to the financial sub.
scrviency Of this country to London, and
what he says Of London or England as to
America, may tmthfully be said of New
York, us mere commercial city:
The European aEents control Its money
and politics, tho most nn-A,nctczn city In
the United statae, New Orleans only, II at
all, excepted:
All The great measures Of the Government
during the war, which the Secretary Of thu
Treasury was compelled TO originate OF re-
with the almost unanimous opposition Of the
financial oolcmons Of New York. But the
county was with Mr.. Chase, and his measures
Il Is high time It 1us understood that
Amcraen Las attained IT, ,najo5ny, and wear no
In e FrrfA md ~ - fx1n
don money market, nor BY Its policy in
finance, in New York.
Ilay aside In this communication, aud 9TH
crs shall make, questions OF tariff and free
tradc, and condne myself only 70 A,atriessn
fedt7,tndeHee. Thad. Stevens we'll said, In
more than hnancicF nt tho head Of the
Treasury Dcpattmcut-sce rted Haf<sasa,,.
was very glad to sec that the Western
| Press declared Its Independence Of New + Yozk.
A great commercial city like New York has
| Its important uses "a u commercial centre,
but II ls not American 10 Ito Eympathles or
interests. It does not look to the country as
| tho source Of all Its greatness, but abroad :;
commerce. not the interests Of the whole
bsypss - rtn MI ci!xs 4 wessshps It r.
county is distressed for the wait Of q ciecu.
| iating Medium, and because 1t neeI4 little
currency, It thinls the country needs lcss.
II fcrrcts TINT certified checks are good only
when certified. but 70 the letter Of my Can
,,n cAsAnA, November =, 1856.
10 one appreciates ,o1o than do the escat tl,us
fot Canada which II Is 10 hare ihc Western sta,cs
oehhd us: And feel deeply Interested In pst-
9b5sn e St ssEons
20, unlsss thsrc Is S7eat Nssi<Tn i,a1rioi:
iessue assssnss IT,.
1.etze few moments TO explain 10 you ihc dan.
ser you arc IN Of catastrophe broucht soout BY
| Erot9 tcr1s1rce on the part Of the Americans.
which " VI end In the overthrow OF every Eauonal
NaLk IN The United states - -"
70 II tSs sCn5soes auds
10 In The within artlc,c ffom ,ic New iorR In,
Iunr, wi.h my jor,ins Sn Isadinc + ln ths West
Ills IN he newspaper, and 81 i issass
@ iost lortsfr, otrstwise ,he Interest,
for :, .upgessd at !ntfrs., Re .na b,osShssd; t b
Mr Mecpiioes '1xa so some s" herrSfx foesh tstns.
Thai be should be praised BY The london 1t1s<s,
" Gse*inus snd hs otseF day y q. pses
SAY, for AnJ American. lehonld feel it So fssl
II quito consistent with ny uncnlculsdnG loyalty
4 Gsnadian ltoat would !, make me stsna by "
to admit ,h.s as An Amessean
| Il should a1says feel safe II took the exsctl.
iaduitsJ, I'D liz handmsId. Wonry, Or cal~ncy
hrd tale "Iimto Tanaos q dena }trta:fs. :.
~ should slw.,s fear the Gresks, especially
n.s M;s ws,e ~ IN sssissss osgs,s e.
b!e tesas ie1 paszto,lsm 10 sne Esea
cSo1t should be 70 eet manufactures s1;e1det ic
ips Yet nd s. south and ~ eRse1s T. na5jmenn jl
diary, u The A1iempt reanees Inc circulation
quicker than Il naturally will be reduced thtoa=t
!hc inhnstry Of the Country, showing thai II wAns'
| 1eFa circulation,
.Ihsi the Wish .. sn.tsess Q. fe,..Eness. o. esez
that ar5 Government OF Washington dosrn:
should I4durnce 10 vltAl mater Il most hutnfl
taiirE consideration: You nasea people boa.tins
OF having the control Of their Own Afhtrs. md ye
sllo.lps the nfss blood Of lss indasi5y md lssas
With By England ard kns!and's Influence, whicl
| cloats over The notorious sRuorancr OF the AneFl
u money. i 40 ,hs mote opposei 10 ,ais ssa.
Of things, fur see that It Is from this ptactIc1i
1hcrEh indirect in.cEt.fsose hJ EAstand Hi,a t.
al the bad blood Of the Americans tuwa,d EnG
isnd. and onlJ wonder thcrc Is 60 little .oi II
! II the:e Was mure tntrltigcnce there would b
Intelligence aould pcrsmpsosi)y put stop to tn
ihe direct sttc1npt 10 have English .ndustria
sud TO eSr,catl1e the manufactures of lha world Il
England. xa., xsd rot u'9natehs !hs Gauss e y
money power in AIa,rica (which !. rery much m
der me tonden money market. aod ths AmSEes SIS
1 want 0! tnlc1ucrEee IN gF1Gf1 70 ~ Hfe<tt1y
ann1s s;sa@nSssf o1S l 70 it VI III gasssd Il
dsrtc:ty oil IL esaen!!sl porr osss IN
e. :. o. .aes9 nse e seuea 4nf1s; as;.tI efi fa.e
renee, which has secured them = high tsrit
tals aspead e he s. esee
so.ese9e - through you 70 awaken errat II
auepee Z As Mesl 70 saxe yonE pspc; mop Y N
Saas 81 aa;9 fo-srat he :. ntmo<t d
g !, not tetiss ss H: g. :e9ss IT. no' 6
| ma,tcr ofAuer1can interests. 10 60 on ralsin: Il
ffocI Of god md calling in naturally and 81 r
SaeSs e.nonaf 10 40 nor f1aa a. coid Aid.
attain this. for The hsklnR o. youF haEs note eFct
lAtion on ereenbse1s tn existence only to the {;
Efb'e) low terrible. thcu, would be The eee5 |
my aneuft 10 sesune specie payment. theu
I'd led 10 4escia,len II o.he1 eeanis,e ] and =. Jo
, revolution rcaid on1x be dissolution ef sode
M:elt b.heze The rn'ea sta:es wouli be Il
+ ana eannos tupryee ~ .he ie.u,ts would |
o'het e1an ptoper!a9s:tl1 M 4, he5s'sls ,e; q.
= American Gosc-nneat 10 aps thAt Of Enc'sn
c IN practically abdiestinc all Its funeiio1s, exer
se q apeson et &c pee
= !. snd Of it, fanUsts 10 mere n.ea1 one 81 L
+ Government. .n.s this should be the e1te Won
linton uien in nm, il 1hrr dice las ha<e n ~
c supposedly 1has sht Industry snd general in,erss
Of the people II their frduttI LII c1paeit,cs thnn
be the great object and ccd Of their political Hi.
' tutlone, ard roia Ecse tcpaf1te goserunacntl
q | tercet Endcs the speeioux piea Of corcrnmcu
eige The people ia theiT ,sSr,sasse ses1 spas't{,
meantime, snd 6tfass Conqrsss r.e+:s, ton
r lNesus may be taLen hy Chicago to let the Sec.
r tary Q: the Treasury know whit yo1 think on i
. aub}cct OF spstdy Fxssua1tsea # tiec4s n-5mtat
lneye+ tell naosr strongly impressed with auythh
4 than Min the feeling thai II !. great raonesa
. duty on the pxrt d Americans to xsf ~ 1Hroas
r dispe1 The judicial hl.odEc.s that seems to ha
+ oTe.,Ake1 influential ciAsstl around 1ou: &
a that The Torunto G1od~ (¬hes Eard.@on
hicci1 OF to-day rc!crB TO thr New York Vur
C hsttns similar views end erpd yon the art,ei
Z do mol wonder al this. fos ucFer saw less pr.
!, | ucal patriotism CT c.slDsos ttHst DISPLAYED
= | itrxc tHo ucxxpapeIs.
4. But to return Id lhe subject Of my letter. Il
+, that there 10 not npncnt to lose. believe th