New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-05-08
NEW. YORK. DAILY TRIBUNE, TUESDAY, MAY g, 1868.

r ne and purchase up all the compoundipterest notes
and he $50. due 1907 as fast as they could &c h"o u
We thus elevate only tie legn currency eE the several
classes Of public debt that reach, and ut the same ie
We are flndDg into long debt all that Is il the way 81 re-
sumlng. -. ,,-u,r,.-,. ,,r,,
Tie sreenback. should be retired RAPIDLY as possible De
ev ae irYedeenable coin anything else They are
~, conyerbe into interest bearing bonds they are not re.
e,yehe for duties; true they receivable oI all Govern
en dues except duties aud tley are legal tender as oe
but that nelea d Seen par 10 cent on the dollar
and they worth about 10 cents on me uoir ,
II WefS i ss, even them ihev Should be retired because
the principle upon which they ar. Issued y wrong -
r NAV obrsyiiy issue tiOOoU go II its paper, and make
II LEGAL money il may Issue sOOG01OO or any oner su"'
an q" il tie only Justification for sueh an issue
naeks and nothing less can justify their eoning'
ence m use there such necessity FOL lie issue 'hc'
none sor continuing them in use.
IA ops 10 make the greenbacks less vauable let them
remain leg tenders; continue 10 receive them 'Or an
en dns ms now as soon practicable take them for duties
receive them for five cent Cover nent nohus a
when possible redeem them IN con IelhIns w. 80, son,
thew come in; keep the volume Of currency up 10 us
standard however by issue Of Currency DEBT W the e
The C4Jrtney Dbl should be in denominations Of s. ana
over like the reenbsck IL should bear sI per cent per IN
mum interest; should be payable principal ana interest,"
years from date u issue coin SIX per cent Dohu
he opon OF the Governmenhe interest on such bonds 70
be pay semi annually the prncph 70 pe ps5
ten from the date OF issue ia CON VI IN o'ne Ae ~
This CuTreney Debt to be legal tender ard receivable for
Government dges the same as Grcenbacks Jo us a'c oS
Tins making all respects good for enTney as tue reen
hacks IL should be fnndabe at any time before maturity az
,h holder five cent bonds the interest
and principal Of such bonds 10 be pa!HOe IN e'e) why
same the ak per cent bonds .,,.,. c.o,
A. soon as tho Currency Debt ady retire all Of the ureeh
backs in and replacing IN the treasury an
amount OF the issue paying 1t out ioI al pupoeeS'"'
which we Greenbaeks. -, r.,
T1ebonee this new Issue rccnbaeks for Compound IN
teest Notes for Year Certificates, and Tor any OF e
$40 Notes allowing interest to date OF exctahge a py
of IN this new issue all temporary loans that lear sh per cen
interest . a ". r..,;eoo,os
and the $40 Notes would Do pr oTepey Of once no
other Government Security would declne the GieenDachs
would travel toward the specie standard carrying we new
issue Of Currency Debt aud every class oil Govefhmeh
with II. 49, -, ,,. l.. ....,,
yalue they might decline in value but ~ ned nor
be for want cnrrency only issue as mch oil tne
as retire old currency but the people choose te
may take currency for the One Year Cercaes nr luo ~
DAYS loans and the whole Of the jill Notes inns ~
pOsble the volume of our currency lV
tDD COO and vet would result We should sun HNe'
toward specie paymens-he legal tenders sond not de
hut odrdHe in price, Banks and others h0fdRg dreehDhs
cent interest would rntro them rapidly that they
could not help holders OF the new issue Wou
Dot be uneasy get rid of IT, interest would be running
their favor; merchandise and commodities geheiu
would maintain their fair value.
Government could Certainly resume specie p'ybc ~
Juv eCs because the maturity OF the T they must 20
into the new currency $50 bonds that all government
debt In the way Of resumng would then be ont OF te way
Probably Government could resume by JAY ieo' Pooy
sooner -,
The currency Debt alone will not bring rs 'n pay'eH"
and keep as tssrs be powerful hd- can 90 no
harm why not try it, What can be done betterf
| There was, the LIST Jan, outstanding ..oo.,
Compound interest and per cent notes. ri .i9 o1a
Tempofary loans 10 days notes. 'lZ1 ~
13O Notes -o'""'''