The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1869-09-03
tFrom the Advance tChisaso) Sept Al
WHY, VIII EN-, AND HOW TO RE.
lnuY 1RYGlR RAKMENTl.

r-A r. / :
sHI, MN, % yW
sUAk sPkoik rAnM ,
Specie payments, ueeessarily suspended In
s61-'2, should have becn resuned as soon
fter the close OF the war as the Govern
neut could have fun1bd Vie bulk OF lts 90
nand obligations. Iheu most Of our people
1ere comparatively free from private deos'
he nation was hlled with Juoiiant conn
ence, the South was ready 70 acceps tne
gold fell 10 l2S, and everybody
vas expecting the country 70 rcAsseFs nor
,osition In financial, as she had In mill
AIRY, way. But political events took an I'M.
fortunate turn, the favorable moment passed
anlmprosed, snd ,ne % Iaaes o. ,n IesumP
III, ,,,n,. ,,ah,o s' "1 W
er,,n ,,nnp Am ,,,,e,r,,.. 40 .,a ,.w
cp. 'V -. ,.,.w A,-"a ~ s,a,a.nna .,,h
coniIons y. an ~ W .,.sI., ~
Sonmou , rSnso rnu ou"a P,.ne,p,e'
nnance. lnu. iaI NOV nng'e 'ssp ma
oeen . r rn "w .an ,esa'hpson ,Ss
ncns, ps. U pooP,o. III ao. ' ~. se
cess,sy OF u'umAse Issau,P'ion anu VIZ ae
s ~ ~ " eary soeyupn.a n'i" ~.
the 'mpfess,on very generany Pro'anss sna.
sGn pymens eannos " ,ss ,aan,. VA s .,,,.
oisassei 70 iarke nnmoe's y, peop'o n ona 'uln
70 lmponane ooehess ihteses n, oneo Ie.
move TINS inp,eselop, Ss'su eeI.ays
iaise one, ana tneie Nou.a % Few opponen's
o. cary rcsumPuon. me prssaieh. oie as,
Q, Akng tne mn. sseps sSrsfu e1nueii
pie currency nssgsss'neuo W me saNy y.
many statesmen ana most pontc,ans, VINO
are VOC 'nuen u ~ W yW'u W .no snsnI
ess clsmor OF nafa Imes, anu snus sa.l,-
nce .no peimsnsn. 1oh.oe'ns - .ne country
MWy pTstu s..,o y ,,.,n-
uny r'n -Lne auops'on S "a . Su iso on
vertioie paper currency, based Wnony on
credit, was necessity OF tne war and served
a an escape from Worse m,sio..unes, ous
the continuance In use OF hise staauard OF
value through many years o, peace would
be an unnecessary wrong. Wnhe cAnnot
30 doubted that our present. ieeai see ,.i.,rs
secure and popular paper currency we have
ever had, and that In 90 far a. our domestic
needs are supplied by This currency We are
better OF than ever before, vet the demands
Of worldwide commerce and every coosid-
Grafton Of good faith and national pride no.
quire the prompt inauguration Of measures
| for placing ourselves among the specie pay
Ing nations Of the world. The uncertainty
| which results from the use Of an unstable
standard OF value tends 10 paralyze whole
some business enterprise, while Il fosters
| extrayagance and encourages ejaculation.
Uncertainty In financial Affairs, while IL Ia
good for conmorcial gambling, IL unmistak.
ably injurious 70 the legitimate business in.
terests Of the country. Tho principal class
Of people, comparatiyely limited In number.
who find THAR harvest In the nresent state n,
the country, arc the gold and produce gam.
blers and ths speculators in stock.s az IA,
a. private Interest IL concerned theae are IN,
only per.oos who should opnosa a tImc,v ~
sumption OF specie paymenta. And how "a,
lthslr porsonai sdvnntage ougbt IN he con
suited At the expense OF the people. II ia no,
difficult 70 decide.
| Wien 10 Reconsideration vb,nexe,
!
alton OF public coundepco In the Stability IN
our P onai s1n ana reorganlLatlon OF
sne ,nausHy q, 'nc ooutn' Inese anteeedent
conaitlons Mni soon DC supplied. Recon
sluetion, now nappiiy progressing, VIII soon
% an sceompnsnea sAcG inc iAoorers and
ana-owners OF me SCUM are coming TO
pe'ser mI.uni unuorsanaingi .ne supremacy
" hun eo'.on, ~, . tme 'nreatene'
En uAnseIous hpoen,on lrom inaia AM
LsJr, npse.'eAhy ie-oe'aviIsheoi tnc crop
Vi sns present year ~ aounasnt oeyon'
P.eesnInt, aaS no ehe"pg Pohucai issue
Me uns 'no pGePe' suoging rom pres
ens aPPeaisuees, SAFE 70 say mat Con
I gress ~ ~ next session should provide 10
, resumption to take place on the tirst day c
! 1anuary log. inls would give Two year
warming Ana iuln"n ample time ior Prcpara
uon on tne par OF me Governments, IN
oanks ana the people. In twenty-fou
months tno necessarily coin reserves coul
% gnausny aooumuiated, WITHOUT mater
ny as ,I sns msrAe'i pnvate indlvid
uAis couIa .ahe IN saiI, Pay on inoeosedncs
spnsIaeo ssseu, ana ~
teaoy LOT new guinness start on eoii
Iouneauon. rrooaGiy al these preparation
sou'a 1e nLao 10 .e.s at,e .han TWO year,
uus - aes.so.e 70 postpone vac measur
0 I1ne enoags 70 nsAlm Al reasonable oppt
Il shion, a.oia III unnecessary hardship, an
!, 'hIs uhi.e M eiAsse' nealuly IN Tvs supper
= ~" ~ .S ns,, na.eter may oe u
soMpara.Nc me. .. m ss snd me
. based wholly on coin reserve, II ls certai
d must be content with A psper curr.n,
>, based partly on specle, and ma NV on tfnJ,,
States or other credit secnrities we -,
70 such a course desirable onr neon,s corjS n,
1t be induced TO consent To sucb a eontrac,Ion
l. the circulating medium AZ that il shonld n,
exceed In volume the amount Of ayaIlab
gold and silver In the country. Nina tent,
Of the people believe, and viii persist in b
,e lieying, that a paper currencv az sav n,
90 hundred millions, based upon a lilo anon
% Of boarded aud therefore unused goid, Won
?, be quite unequal to the legitimate bu.Ine
10 needs of the country. To this fact polItIc,
, economists must bow. and under nrose,
. circumstances A strictly yalpe cnrrenrv h,
o comes an imposslbIlity. ~
Again. IL will for sofne time ba dinlc,i,
n II mot lmpossible. 10 unite The conntrv y, =
, even Congress-. on snv nIsn Of re.nmyy,,o
which inyolyes either a mate,ja, cnn, ~;
i or a material az pauion M tbs nre.snt w,
y ume of currency' The dIfferenca ~ on,r ,T'
: among thinking men REGARDING thu radnU
daucy Of the currency ia honest rsdicsI sn
apparently Irre,oncllable. This aie,cni,
IS eau be avoided thus;
10 Even admitting that the currency Ia som,
q what moro eIospded thsn ia eondnc,ys ,
the highest ana soundsst prosperity In n
immediate present., vet The business Of n
8 country, with our developing West and n,
D. recuperating South, 10, by It's prodIgioy
n growth, rayLily approaching a point Sb.,
the present volume of currency Viii be mo,
too great. Ifit be possible TO resume viii
" out contraction, which We hold 10 he n
r case, let us resume. leaving the curr.n, =,
4, where II 10, and thus obyiating ons ~ ~
leading obiections 10 a rstnrn 70 sro.,o ~ ~
menta. 'fSe'' p''
3 In ooeping A road IN rs.pmn,,or md,
our present. circumstsnces. a arst and n unH,
v sary sep ia to rId onrselyss ~ tbe ,ims'ha.
- L....,,.-,. .--.- 80 h.e"ol