The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-04
METALLIC CURRENCY.
IN r>-r EDITOR or THR HERALD.

m rN-g EDITOR or THE HERALD.
Mr. Jonathan a dbuck, who, from hts convenient loca-
t,oo coar m. ,,ds - trance Of tho Stock Exchange il
doubtIess ho,,.r rno~ in business circles by the alter
nate ar NJ Ola uil and Mr. Oldbear win not
probably DO compelled 70 pau very long for replies 70
his hard currency article should h 10 o'ao'0. Aa M
views have any Other advocates besi0s nso .Hu -
Thad Stevens Tho choice Of his de "e $3.50
lively regret that he had mot given an S.s upoo
Roman COINS upon which no may possibly bs, '0"e
ideas a. venerable the subject
Apart from the triding objection Of constitutional n
hibton upon such legislation he invokes prohibit
the export Of gold which. In these days Of theoratc
ideas Of tho divine right Of maorities would scarcely
disturb the squan,mity Of original thinkers
like Mr. OIdbuck, or statesmen like Mr.. Stevens,
there would bs few nconvcnienccs arising from saoh
legislation. II successful with which all our experiences
Of Mr. Stevens financial ability would scarcely reconcile
us and tho ultimate result Of which would probably DO
that We would DO reduced 10 eating gold, proceed
ing q once unwholesome and extravagant Is some
what matter Of surprise tnai Mr. Odbuck did not at
the same time suggest 70 our Solons OF the Stevens
school the d. SsoasD M gu, cS
and natural paying at half price
and our importers not being allowed pay al Alive
without debt and without credit thrs getting happily rid
at ono blow OF two serious inconvene AZ MI DID
though undoubtedly coz ss a sSss
the ancients were always 6cIs o. r Dest houyns We
ALL nf
would refer hn 20 aers Michel C6esasr ~ 80. Ss
European which the follow inr = az o. me
that tho principal eov.rnm.., 80 -.
weV more exactly. all those OF great nopsrch,cc
Or Or 70 @ped Dracon an laws which we're in sui vsor
the Stat. he
metals whether in coin pgos The pena fo cxpof
t.tiou was in every coniscation well hne, be
however the Legislator oderniing his Violence was content
impose sentence Of tho CALLERS for life md andng.
equally we'll known th.t nowthstsndng this incrc
metals ga Dot Cease 70 ee carried on on large Gale 20
framed fury. and imperative wdfe shc laws Of com
% s avs vs wss' q a's is s0 msts
coscerned fhss. rss:.dcilon. have only been dsA.
law which osoered the resumrsAou q specie pay.
ncnt By the bank. In France - Es1s vesuze
be added that in England hc abolition OF these
aws Is rcvoeable would dare 70 raise his voice IN
favor OF their reenacmcnt much do they exce reproba
vecaies high PLACES whose stop short
OF having considered m In force the laws Of the old
rs2sre which consccrated those extravsgancics
In France the expectation sof bullion was treated ~ the
Of the operations OF false coinage IN whish kings
engaged variations became manifest between tho value OF
and con The pTstsnson O. hS:s who
70 compel given weight Of gold silver 70 pass In cir
cuation for value much greater than really
The effort o. commerce. was 70 resist this arbitrary measure
brided authority this effort always succeeded 70 ceraia
extent Nevertheless by the aid OF penal provisions iu
serted in tho royal edcts there remained for greater or
less time. somewhat OF tho deviation which the crown
Wished 70 establish.
Encouraged by these examples entirely in harmony
win the genius of our institutions aud the spirit Of the
age hut hope that Mr. 0dbuck will persevere in
his Projects Tor financial reform. INGOr5