New-York tribune., 1867-03-08
oRsTacIrS no RESUMPTION.

to Resumption supposed to be presented by our
to Europe and by our lnterna-
tional commerce, and endeavored to make PLAIN
the fact that Resumption would diminish 'o'lr
Imports. increase our Exports, appreciate our
Securities held abroad, and in every way
strengthen our financial position. Let us now
see what obstacles are presented on TINS slde Oh
the ocean.
The Treasury owes 1924, 126,5ss In Green
backs and Certificates of Deposit, beside Sl4l,-
sos $50 in compound interest notes soon 10 Iaii
due, but which the holders would greatly pre-
fer not to have paid at maturity. But no mat
ter: say it owes s565, 100000 payable ON de-
mand. or nearly so, and that 1t has on hand 10
meet these but $52 253, 1868 in currency and Sl0'-
e7t .O3f in coin-in all, a little less than one
Hundred and Sixty Millions of Dollars, Say 1T
owes, if you please (though it does no0, Jour
dollars payable in 1867 for every dollar OH
hand: why can it not resume and MAINTAIN
Specie Paymentsf
The moment il resumes, the distinction be-
tween Greenbacks and Gold is abolished: all
its funds are of uniform value. III mas cur
rent income of Three Hundred TO -Four Hundred
Millions per annum- considerably exceeding It's
outpoes. Let us suppose the Secretary were
to-morrow TO post on the front door OF the
Treasury Department so that it would be seen
of all men. "Tbe United States have resumed
Snecie PAYMENT who is TO drain away his
$160,000,0O0f
Not the solvent Banks for their assets would
be appreciated, their position improved, by
Resumption. They hold large snare OF the
outstanding GreenbacLs, and must continue to
hold them; for they are legal tender Tor the
payment of their notes, and would be equal In
every respect to Gold from the hour OF Re
sumption
Not the insovent Banks Cor they would have
their match to maintain precarious existence,
and would MT possess the means Of hurting any
body. their stockholders and customers ex-
cepted.
Not the capitalists and solvent business men
of the country; for they would be beneS1ted
by Resumption, and would. at all events, do
their utmost TO maintain the National credit
and honor.
Not the insolyent business men and kite
FLYERS generally for half Of these would fail.
while the residue must devote all their tame
and thoughts 20 keeping their clsis above
water.
Who then, wonId be likely TO draw from
the Treasury its One Hundred Millions and
over of Coin What would he their motive
their impulse, their profits
II is the business Of the country that floats
its Circulating Medium. Our own is moderate
about 100000 per annum-but Is IN the
main like that of Others who do more OF do
less. We may want an average Of 800 in
change for all beyond this, both Grcenbacks
Ias.H Hs.sIlu
feried by us 10 specie. Nay: we could not do
our present business at all on a currency OF
specie alone.
We should, after Resumption continue 10 re-
ceiye and pay out Greenbacks and Bank notes
and drafts as now; the only difference wonld
be that we should buy and probably sell at lower
nominal prices than now. Grcenbacks aud Ma
tional Bank notes or checks would compose
81. 100ths of our weekly receipts and expendi-
lures only they would buy moro Paper, and
probably more of everything else we need than
they do now. And, as with us, so with nearly
or quite all the business men Of our country.
Every one now takes Greenbacks because he
must: thereafter, he would take them because
he could have nothing better. And, being of
equal value with, while far more convenient
our wild. robbcr-scourged mining Territories
must largely increase And, though there would
doubtless bc momentary pause in business.
while the nominal prices of Labor and Produce
were adjusting themselves to the new currency
values, We believe that Industry would soon
rally and recover. Few men would long post
pone the building OF house because they
could now build il for twO-thirds To three
f.. ~ th.. il.e
Bat let us imagine the very worst that could
come TO pass-that everybody should Cake to
sucing and halassing everybody-that oil values
should shrink and shrivel-that traffic should
be paralyzed--that those who hold National
Bank notes should first run the Banks for
Greenbacks and then ITn the Treasury for
GOld-in short, suppose every one to act as in
sanely as p0ssible--what thenl Who does not
know that in such state of collapse, our I'm
ports would be nearly suspended while our Ex-
ports would be largely swelled, SO that Specie
would soon be pouring in upon ms from Europe
in payment for our Cotton, Tobacco Cheese,
Butter, Lard, &C., &c. And how coud we be
forced again into Suspension. with Gold and
Silver flowing u, upon lis from Europe on tho
Que hand and from or own Mining region on
the 0thery
At the very worst, we could but pay out our
last coin and stop. What then Would the
premium ON Gold shoot up into the thirtics
No; because there would be no real demand
for Gold. Europe could not draw il from us;
our own market would be deluged with the
S1O',OOO.0O0 drawn from our Treasury, added to
that daily pouring III from our mines and from
Europe: the very men who drew the gold out
of the Treasury would be glad to put it back,
and take Greenbacks in lieu of it. We should
soon have two specie dollars coming into the