New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-19

For no does fear-it is plain that he fears-a
political revolution as consequence OF finan-
cial stringency and commercial revulSion. "H
ployment," he obviously reasons, "the people
will vote against the party which had power To
prevent this collapse, yet failed to exercise it..
1t was reasoning like this that led MIR.
Stevens-though naturally bold man
to lag so far behind the public necessities
and the National spirit in proposing taxes
throughout our late struggle. Had he, within
the week after he was made Chairman OF the
Ways and Means in 1861. proposed al Income
Tax of 5 per cent. on all incomes below 81 900,
10 per cent. on all from 1000 up to $4,000.
and 20 per cent. on all incomes over $4,000 per
annum, with 81 per gallon on all spirituous
liquors, and imposts on all luxuries proportioned
TO these, we should never have seen our bonds
selling far below par, and would now owe One
Billion less than we do. He thought the people
would not stand such taxation; but he misjudged
them. There were great many who deteSted
the War and wished the Rebels success; but
neither with them nor with the Unionists was
it question of taxation: both parties were far
too earnest for that. Men who offered their
lives or those of their sons for their country
never stopped to ask whether it was necessary
to send fourth or only an eighth of their prop
erty after them to insure the success of their
arms
What is it that people mean who talk OF
Resumption "crushing the business of the
country" Will Corn refuse to grow OF
farmers to plant it When grown. will it not
make Pork and Beef And will not those who
produce more than they consume of either be
willing to exchange their surplus for Iron,
Cloth, Groceries, or whatever else they need
If they will and do, why will there not be
business
But let us grant that Resumption, accom-
panied or preceded by Contraction. would cause
temporary and very considerable dimnuion
Of Trade and Manufacturc-what Of it Sup
pose we should shut down the gates of half our
mills, close some of our stores. and send a
million or so of workers from the FORCES,
furnaces factories and stores Of the East,
to help our farmers grow an extra crop
and open hundred thousand new farms
IN the Great West. Would not this
insure great and healthy trade next Winter
and thereafter Would not our farmers want
Fabrics and Metals next Fall and would not
our skilled workmen be called back to the fac.
tories and furnaces to produce them' Might
it not be well to let the farmers get a crop
ahead, SO as to place the trade between City
and Country on the healthy foundation of Pay
Down. and then keep it there for everInore'
"But the People, whose Industry would thus
DO temporarily deranged, their usual employ
ments cut off, their comforts diminished, and
their profits wiped out, would vote US down next
Fall"
Our answer TO this is-The people are not fools.
They have stood by us in darker hours and
nndor moro trying circumstances than an earn
est, fearless attempt to return to specie pay
ments would now produce. They have shown
worthy of trust: We shall show our
selves unworthy of their confidence if we fail to
trust them fully. Let us tell them frankly:
1--WE are trying TO return to a currency based
on specie-whereOf each dollar shall be worth
ten silver dimes everywhere. To effect
this, we must all submit to temporary incon-
venience and apparent loss. The laborer must
accept lower money wages; but they will
buy him as much food, shelter and clothing
as those he gives up. So the farmer
must sell his Grain and Meat for fewer dol
lars; but these will buy as much, in the aver
age, as his present receipts now do. The man
ufacturer may have To hold on few months;
but he will hire his labor and buy his materials
cheaper thereafter, and be able to compete fairly
with foreign rivals who are now crowding him
out of our markets. so let us all take hold and
make the very best of the matter, assured that
the evils Of immediate Resumption are prefer
able to the perils of indefinite Suspension"
As TO the talk Of waiting to return gradually
and naturally to Specie Payments it ia exactly
like the sot's resolve, that he will stop drinking
after he gets sober. He must stop in order TO
get sober.
-" But what do you say for people over ears
in debit"
Only this-Thatthey have had warning enough,
and time enough. From the day that actual
hostilities ceased, it has been distinctly pro.
claimed that the President, tho Secretary of the
Treasury, and very strong party behind them,
were resolved to 90 back to Sound Currency
at the earliest moment Since Mr.. McCulloch's
Fort Wayne Speech-seven or eight months