New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-25

Unity forty, or fifty cents buy dollar in specie Is TO
ineompfehensibe Iron ships are rapidly coming INTO
half the price they cost here WIZ any American build an
ron shpI forr mon ban 9nitai and no
moor man dares for moment 10 indulge the dea OF Du
H. boHse and a home. Although all other circum-
saye 0ulv our deprecated currency, indicate
dpoeitOn and warrant In all parts Of our country NOth
and sonfh East and West to start new industrial enter
3es Vet few such are actually started. Men VIII not
invest, expecting five years hence TO lose one vi
sum invested Some gentlemen think that the pI9i
on gold paid by the importers is ample compensation lOr
ali the grtefs of American maDufacturele Set Sc %
there greater faey. When the wants OF the Govern
I0ent created both demand and war price 10, sOOu
when 1t easier TO sell than TO buy before lI d
raw materials had advanced to the same ao vi ~
that OF gold then manufaeturers were reapng R l ~
haryests from the rise Of ssrisl has been
consumed and labor has advanced, but prices o 9
manufactures have receded and are stu reSeoH8 n9
short time Certainly TO enbatk IN any new ~ ne
deemed hazardous Neither taS gg e
of the race Of greenbacks" The bare In
Of the Rand American gives the English
the mastery and ample dyidends SIX yeaiSsgg ~ %ex
paad coyid have been put up-sO much cheaper arc
raw materials and abOr-fOr $500 900 IN Iglaho @
nSnHm are satisfaeory Here per cent per annum is
the least that would tempt eaptaI 70 sucn
the prices Of bricks iron machinery ana aDGg nse ~
largely increased that such m ~ o oo
Tho interest upon this would be $4,000 per annum
but the interest OF the B s7 @ eTa il pST
pDnDm IN favor OF the British manufacturer sf
f d SG @ Is Spy wonder that we have an exra6r
binary influx Of British goods or that al Europe ass
to the war the cost Of the labor expended upon yard *
cotton cloth 6lx64 printing! was nine mills put now n
two cents and seven mills or three times the amount
A printer in Washington now gets go per week
and works but eight hours per day, where he for.
day and yet he viii tell you that his condition and
means to support family have not been bettered. A
5 los or $7 bO but II estimated that the wages alone
paid to wOrkmen in Pennsylvania to produce tun or
S5 2s to be expended by them for agricultural prodpc
lions In spite of the high rates OF the ngres inc Ia
bOrer enjoys no more comforts than ioIneIy our PdPa
currency represents dimensions without gIayy ana rs
uSC pl0N o scn6eT of the pocs Of The
Secretary OF the Treasury They nave been ana are as
however the first man who has sought distinction in
role for which be united. The auth0r OF Bhck
fo1 20 Scpease his fame but there his career is
only remembered because Jumus pointed al MN
Quincy Adams was not always Satisfied in the high career
OF Statesman, but sometimes attempted poetry, ana
Of the Secretary patent but according to Burns we
know not what has been resisted Should we drive MN
more Of the confidence of the oountryl His recon-
mendatons, so far as am concerned shall not 10 con
think it will be very wise for Congress TO get wrong on
nnaRciai qgesIIons p0C tI e Eo nySssf sbo not
make the mistake Of opposing him where my CONSCIENCE as
Sas Sam e da1 for 6e resumption of specie payments
somehat earlier than It win be possible achieve yet
no doubt sound in principle, policy and morals and II
Congress shall thwart this purpose viii have doomed
any party Which a1ndetaEe seriously procTastnate
the day OF our redemption from ING evils OF an eIcessye
whemed by its opponents even though he latter may NOT
be able at the time TO extrlcate the country srons as
we cannot afford to take the wrong sue OF suoh 9
ISSUE On the nth day ofMay, 1865 the premium on gold
had fallen to 1884 per cent having fallen from go per cent
January without producing PeTceptiDe ripple N imam
in 1860 In the United States amounting to SSSyiS put
in 1865 there only $50 amounting 70 S1610OO or
Mortgages made light, had been quidated The oldsys
TEN OF mercantile credits by common consent had been
trust in that direction was impossible An felt that opay
you go was sound policy; The scriptpral Injunction
then the golden moment not only Tor political recon
struction but for return 20 specie pay ane1 tne
largely enlisted into the service Of the country Inc cam
81 SE ss on Seu Il Was now Sny
an ineumbrance The Western States prior TO the war
off an indebtedness Of not less than but they
became large holders Of United states securities with
means of becoming s larger holders Up 70 this tlmo
neither in the West in any other part OF the country
have our people asked or received tho ancient 81
Of the people free from debt Thanks at least
to the Secretary Of the Treasury for having borne ao
the motto Of an early resumption OF specie payments
This If more, has prevented the country from an In
definite expansion Of credits from punging headiong
into debit ana never IN nv ophoh sh We nhye more
auspiciOus moment 10 initiate measures Tor vigorous re-
could believe that the Treasury estimates Of the receipts
from customs for the years l665 were not TOO large but
500 O6 II ought to content aud be satisfactory 70 the
country. The capacity of the South to consume and pay
for immense impOrtatiOns has been vastly Overaed and
the lake trade alone probably nuch exceeds the entire
aggregate Of the Southern trade recently re;
upon tho tariff bill now pending IN the
somewhat increased for time greatly stimulated Inn
pOtatiOns and have had both gut OF merchandise
Coming Year II Is most likely the Secretary Of the Treas
ury has undeiestmated the amount OF United states
bonds held abroad and that instead Of 900 not less
than Sj0OO00O0 OF national securities are so held
So long as these remain below par abroad they win be
for realization at any m6mont. If they could DO made
equal to par u docs not seem 70 me tnSy y ST HS
six per cent interest in order TO accept onothono better
when our bonds bring what they represent dollar Tor
dollar, new loan payable abroad could be neg0tatedn
nn T9I S G per eb WE a S ere long that
It safer to trust the United States ut tho0 and half
psr cent than any other nation In the world but first We
must make our present obligations worth tler par value
in gold at home. wish were true that the stocks OF
the United states not TO be found az ali In foreign
markets. but We are not rich enough 70 hold al the good
things produce. Is 1t not however, source OF NOR
moro In London than United states sxesi Or that
Virginia five per cents bring only twenty i5, per
at Bl) Turkish, os Brazilian, l93 and even Moorish o9
stocks shall DO quoted much higher than the best of
cent OF governments greatly inferior VIC think, TO
that Of the United STATES bring higher prices than our ak
n the pockets OF creditors but those who obtained
our stocks at less than par made their profits at the time
Of purchase it to have been expected the Govern
ment would pay TO the utermOst farhng all It promised
principal and interest and those who relied upon the
good fnith OF Government who may hereafter 50
Tey will never receive less No other government has
met itg obligations with moro punctuality. If slowly
the world viii surely yet acknowledge the fact The
problem Of how much currency or circulating medium
any country requires for the healthfu TRANSACTION OF It's
business Is having many points OF disturbance
that its actual solution Of some difficulty; Each
examiner will vary the result according 20 the data
included excluded and probably according 10 the theory
ho wished 10 build mp denOsh propose 70 present
art iactt 10