New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-03-01
FOR IND AG.UygT RESrMPTION

y
We have often tied 20 discover something
in the shape of an argument for continued
suspension of specie payments. 1he Chicago
Tribune, which knows all about such things,
has vcntured TO advance one. Ii says that the
reason against resumption is, that debtors
would be wrongcd by it, because they would
have TO pay in a better currency
than they contracted 10 pay in. Exist
ing obligations having been increased IN
A deprecated currency. they should be
paid in the same Might we be so bold rs
10 inquire about what time il Is proposed to
pay mp cyerybodys debts in paper, in order
that there shall be none TO bc discharged IN
specie. when resumption comes roundf The
Illinois banks had due TO them in October last
100000 A year ago they had less. year
hence how viii il beH Suppose. in Difference
20 the peculiar condition Of the Illinois
debtors 60 these institutions, the country shall
agree to say nothing about resumption
for year 10 come; 10 The Chicdgo Tribune
ready 90 promise 60 suggest, 20 hint, to declare
I'm any one Of IFS claiming tones, that that
~n, :iT.0OD.0OO viii be reduced to the
extent Of one thousand dollars i'll mil
lion during that period' We trow
not Ii knows the Illinois debtors to
Illinois banks do not intend to reduce
their Indebtedness. voluntarily. 20 the extent of
one red cent And il knows the banks don I
propose they shall. Tho debtors want
that seventeen millions 10 trade and speculate
upon, aud just A. much moro as they can Dor
row and the banks want their interest and
their shave OH that same sum, and on just as
= IL N L.. pIt,Yo To. la
That il the precise state OF the borrowing ana
lending business. Of the banking business, of the
ircdccmable papor money business. of the State
Of Illinois and OF every othcr State that hugs
the papci-n0nry dcluson with the same
fratcrnal embrace "a do our wild
"cat" friends on the prairics Doesn't
The Chicggo Tribune know itR We
don't AJAX for an answer That same farsccing
and nohly unconscious journal knows it just "a
well os anybody. Must have time to pay the
debts in paper that were contracted in paper,
chi Haven't done anything Of that particular
sort Of business in the two years since the war
ended. Don't propose TO do anything of that
particular sort Of business in the year to come,
in tlc two years TO come, in the next ten years
Co come voluntarily. We know of old the leap
OF tliat particular "wild cat" II jumps ont OF
debt two feet and falls back three. TIE CHI
cogo Tribune knows that, too.
Very we'll then, what does your argument
amount to You want TO get out of debt, do
you, before you resume ? And yet you have
not the slightest idea of getting out of debt.
The aggregate loans of the banks of the
country are larger this year than they were last
by millions. They were greater last year than
they were the year before They will be
greater next year than they are this, if the in
flatonsts like The Chicago Tribune have
their way; and what is more, the in
flatonsts know it. And yet they
have the brass to say that they do not
want to resume until they have had an
opportunity to Ipay the debts in paper that
were incurred in paper. And this is the only
argument they have to offer against taking
measures leading to a resumption of specie
payments.
II is frank, isn't it II is transparentlyvsin-
ccre and honest is MT it J Who would think
of asking such innocent debtors, who expect so
soon TO pay up, aud not owe the Illinois banks
q paper dime of their present dobt OF seven
teen millions, TO strain point IN the way of
helping resumption along just as soon as
they are out of debt they are going to resume
They owe but seventeen millions now.
They owed but sixteen millions last year, but
fifteen millions the year before that and they
expect to owe not more than eighteen
millions next Does MT everybody but natural
born fool see that they will be ready directly
And does not The Chicago Tribune say they
ought not TO be hurried in view of this rapid
progress aud does MT that paper know all
about such things
Suppose now, the infatiopi,ts stop this kind |