The New York herald., 1868-06-26

our people o exhteen mfi1ons of dollars IN gold cAch
our country nun sectional qne.usns In vsin We
warned ire Eass ssd west AGAINST an unwiss polcy.
Tue Easi aud ihe mss apheii ne policy q the "a.
minlsirsfon. and wc have now % deal With the re-
sss % q s.. ~ M ?, sas sase
ss ss ss n ss ss ssss sss sm ~
ssi nsas s sscsp. sSs so. q sSsn
war. whae large sums are spent o. she south. me
next ss.,ls., sm = me ,aisses, 2. ne sse. 1s
the Northern Atlantic states. Tue indirect taxes.
tsrff- Ac. stl hartfui 10 the West. they
are prsctieally premiums s',es TO Eastern manu-
BoSpaoIpgRs AND raK NATIONAL CURRENCY.
The division of the fsvors of government IN dis-
iribuiins banking currency is startling IN iu injus
burdens q war we're put on direrent states. But
the most offensive distinction II that OF having two
ann oa ss 1s sHd
Is government ia.ehocd. isr !, claims % ss worth
try defrsndine the laborer. the pensloDer. the me
chanic and the farmer. An indignant chief OF one
Sa, a. he ~ ' psase o ANNUITY .sd sh
government was cheat. II got land from the In
dams by promising them 20 many dollars each year.
which said on It's face II vas . dollar when il was
but little more than half dollar. The red man todd
,e simple truth aa ~ ,pe - ss 20 nns snsss n~%si
and 10 turn business pursuits into gambling
none have been so hnrtfol shifting standard OF
,Sus se, forth the % Condition Of our country FOR the
purpose OF indnlgng In invective against the party
IN power, but for another object Many republican:
we have no plans !or the relief OF our coun-
try, that pointing out wrongs Is OF no use unless We
and we probe the ulcers to the QUICK because we
mean TO meet the case and cure the mslady. Among
other things which have caused anxiety IN the dis
ordered state OF Union. II the fact that our gov
eminent bonds are manly held IN one section OF
our country. The labor OF the West puts Its earn
IN large K. s
into savings banks, life insurance or In other forms
Of moneyed investment Thus they are deeply inte-
ings banks in this state alone Is slso 900 900. This
shows that there must be ct least $500 ooo, 900 OF
Of money thus deposited in all the states The
Of New York was $2'o. The number Of
deposltors IN the State Of New York Is
the city they number more than OF the pop
ulation. This will make the number OF depositors In
the Union more than 5000 In the State OF Con-
posits In savings banks. II h now usual for men
OF small property TO insure their lives. The number
OF policies % given out ey al inc le insurance az compa
about $50 000, ,000 The money invested Is held
sacred trust as is fund laid aside for their ami
lies when the insurers die. All Of the funds OF saw
ings banks and life insurance companies put
In government bonds, but they hold an amount which
would cripple or ruin them II the bonds are not paid
or II they are paid In debased paper. we add the
trusts for widows and orphans find that fully two
millions five hundred thousand persons are interested
in government bonds, who are not capitalists and
the operations Of our laws. There s fear that this
state OF things will make ciashing OF interests be-
tween the labor OF the East and the labor OF the West
1t is clear that our opponents hope that II will
hinder us from going into the contest with c0mpac.
ranks ana w On Sne &
be marked out which will harm0nize oil jarring
interests. II can be shown that the dangers spring
up like fogs of night from foul fens they rise
from unwhoesome, darkened cOunsels. and will fade
away before the light and life OF clear and honest
policy. Is 1t true that the laborer the peusOner,
the taxpayers and the bOndhOders have conflicting
interests which will hinder them from acting together
payers aboring under debt which bears interest
Of six per cent, while other governments borrow
money at three per cent, and at this low interest
their bonds sell for better prices than Ourss Why are
the aborer, the farmer the mechanic, and the pen
sioner paid in bad money, so that they get one
quarter less than they are entitled to on every
paper dollar paid to themS Why is the bOndhOlder
wrOnged by the tainted credit OF the government
that he cannot sell his bond for much by onehird
as the citizen OF Great Britain gets for the bond OF
his government which bears o lower interest and
why his claim made OdlOus In the eyes OF the peo
pie by the fact that his interest In paid In specie,
while they are compelled TO take debased pspers
UNIFORMITY OF CURRESCy-How TO OBTAIN IT.
II is clear to every thoughtful man that public
safety and honor Will not admit OF our having two
kinds Of currency for any length OF time. We
must have uniform currency for all classes There
is but one question to be settled. Shall currency
be uniformly good or uniformly bad Are TO force
the bondholder TO take bad money, are we 10 give
To labor and business good money! Are we TO have
an honest standard Of value for ALL industry
enterprise and morality to be pcrplexed and disor
dered 10y shifting and dishonest standard. II II
can be shown that all these evils under which labor
spring from common source, then II Is clear that
all classes should Join in common effort to out
tue policy which sheds such widespread curses
There are two ways of making our paper money as
uDn "a 4 N IA vol Inv call
ing In the legal tenders This will make them scarce
and Will force specie standard, but IL Will carry
ruin and bankruptcy into every part Of country.
II will bear down the prices OF property and OF
labor. 1t Is policy which canno, be car.
Iied through, for the country WIN not con.
sent TO II. There Is another way OF lifting up our
greenbacks to par, whic VIII not harm any, but will
help ALL which will bring back confidence will re-
vye business and enterprise, will Tighten taxation
will give TO labor honest money and will do Justice
to the public creditor. And that way is TO give TO all
the world iull faith in the honor and wisdom OF the
American government. Our paper money Is not at
par in coin because the national credit Is dishonored
How can the notes OF our government which pay no
the bonds OF the government which paw ak per cent
interest are worth only eighty cents on the dollarg
You cannot make the notes put out by banks worth
more than the bonds which secure these notes.
II Is sad thing to say that cur credit
is dishonored in the markets of the world,
are are to lind remedy Il is Illuminating " to find ind
that when Great Britain borrows 1000 for twenty
years pays the lender but s,1oo, when II make
Z.
III we wish TO help The taxpayer, II we wish 10 get
at the cause OF debased currency In the hands Of the
laborcr must first find out why credit is dis.
honored, for II is tainted credit that sinks alike The
value OF bonds OF greenbacks and bank notes.
Make the credit OF the United states as good a. that
OF Great Britain or OF a merchant In good standing
or OF mortgage on a farm and our troubles would
disappear. II we make our paper money good
by harsh system OF contraction we shall cripple
the energies of the country and make bankruptcy
and rum. II, on the other hand, we debase the
currency by unwse issues, we shall equally perplex
business and destroy sober industry and make all
prices mere matters of gambling tricks and
This will end us II did in the Southern Conederacy
AT the outset the citizens OF Richmond went 20 mar
ket with their money in their vest pockets and
brought back their dinners in their baskets: in the
end they took tirer money in their baskets and took
home their dinners In their vest pockets Make our
money good by an honest and wise course, and wnen
this Is done IL will be worth twenty-five per cent
more than 1t IL now, which viii be equal TO an In.
crease OF one-quarter In the amount OF currency.
Business VIII be strengthened, industry will lie
encouraged, prices Will be regular and men
will then dare 10 20 on with useful enterprises.
We nnd right here the cause Of our troubles,
perplexities and national disgrace. our credit Is
tainted. But for that we could borrow money, as
Dxtea In 1.oa "a