New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-02


ton Of a more valuable one unless a corresponding
change Is made In the number of dollars to be paid,
that the real value OF purchasing ehall remain
changed. - r. II 80. ht 90. -|N'
For my own part find It difficult to meot their obec
TONS and have been and more inclined 20 fnyor
the idea OF communication first put forth In the "EOrth
American Review for January 1866 and since advocated
in other publications.
That this would reduce the price Of bank and other
stocks to what they worth ia gold foreign
change IT, Of course, admitted But it does not follow
that holders OF these stocks depostors in savings
banks would be wronged, because 1t is not Intended
TO apply this reduction to any but real currency
transactions and these not TO be lessened IN
value Doc IN price as Va e PrTSP PC T bo ono
titled 10 collect their bills receivable in their own notes
and then present these exchange for the bonds which
thcy have lodged with the Government and these, II
any doubt whether they are so not Congress has the
power has had for past 70 put the cues
dome The legal tenders should DO placed on interest az
their gold value, and then new bank notes lss9su anu
made rcdeemable specie OF old, That the Govern
ment, well all other parties, could use them as
money in place OF COIN which IS TOO T o
measurement; being measured itsef by the labor re-
CURED for It's production NE az othsr eopSSnd i'm
Give us international coinage and then. with
equitable resumption and truly natonal Tree pdlnLh
system secure the Of exactly the proper qus
y OF notes without any attempt to FIX that Sr S
tails by law. long mako the convertDlily Oh o
bankers paper certain at the natural comnerc
toward which 1t flows. Our country could even d o
under such system, carry nearly or qute NV ~ ~
IN circulation, and on this collect at Ieast
annum and still leave an ample margin 70 ,os nd
the banker for the cost and risk OF ISSUING ms noos n
giving the requisite security for Their redempuon aS P
The proposition to reduce the price Of currency debts
the results limited ana it hoped that 10 viii
be seen that the plan not only legal or constitutional
| bnt that It is honest and practicable JUSTICE
NeIC- York, Jan. IS, 1863.
... RFsUNPTION ON BORROWED GOLD.
To The Editor Of The Tribune.
SIR: While the question of the finances Is n
subject discussion among Editors ana SenatOrs VIII
you allow the business 10 say few words on the
subject After reading the various arguments we como
to the conclusion that the best interest Of the business
man lies in immediate resumption OF specie payment
First, there is large class OF men among us who have
paper money that they expect VIII soon be worth dollar
for dollar III gold Now ~ the mean ume they refuse 70
invest IN any KIND OF goods or business Dnt propose 10
hold until their paper shall have appreciated IN value
But Mr.. Morton says that we cannot resume until we
have the means 10 resume with; that Is very true, Dut
do not deem II difficult 70 obtain the necessary specie
as Mr Morton seems to. We have now, for instance,
about 900 of greenbacks In circulation Had the
Government continued 10 withdraw A0OO00O MONTH ~
would doubt have forced us back TO specie payments
IL would also have destroyed half the business OF inc
country. No. think the same o0lect might De accom-
plished without contracting the currency, urng the
business Of the country, greatly enhancing the noeDt
eduess Of the Government Let the Government nego,
with redeem all the greenbaok currency In order TO
negotiate such loan we should probably have
per cent bonds would then he required 10 redeem INC
paper, that at the end Of the first year. the ndeDted
Of the Government would be $2lOOOO greater thah
N would have been had we not But in return
we should gau--Frst. much the discount ON the
M M par secondy Tie revenues would be Immediately
IS per cent by being paid in the appreciated
maze business men able TO pay higher taxes DnT,ng
Walker1 borrowed nearly the amount have mentioned
In Holland and Germany. We thought nothing OF then
when il was to carry onthe war; why should hesitate
tO when III
neus and set oil the business OF the country IN motion
| upOn healthy and safe basis
Bnt this is not oil while the country so heavily in
debt lave right to demand OF our Legislators greater
economy in the administration OF the government. While
Senators eXhausting their ingenuity in deysing
means 20 raise the necessary amount Si money TO carry
the Government with the least burden to the people
Senators w0ud be doing far greater service TO the
country Il they could GeySe means 10 carry on the
IL Is weiknOwn fact that twonfhs OF the tax PAID by
the people used to pay the hoard OF officers whom we
are supporting Now why not assign TO the state OF
NewYOrk and TO every other state It's relative proper
onr own way Much might thus be saved. 10 TINS ~ Is
objected that would then the Decessares OF life,
aSn '' f be truce ana yet
greater necessary articles than gets from luKu
rice 10 support set OF officers TO 1--we IN luxurious Idle
Batavia Jan. IS, 1869.
no MORE SUBSIDIES.
To the Editor Of The Tribune.
SIR: 1t is evident that Uncle Sans Treasury
is slck II we Judge from the number doctors" In at
tendance aud the case" is hopeless II the length Of the
prescriptions are any evidence II would survive the
prescription however II not TAKEN but when they pour
down emetcs under the 1msy Subsidy" 10 every
conceivable project they are doing injury to an over
hardened sick man. Tn present financial condition
every subsidy" should be snmmuTily rejeced II any
exception Is to be made let 1t be IN favor OF the Erie
Canal and not to that unless an autidoe thrown IN,
consisting paris honesty and the balance cold
water which in plain English reads We do not ask Tor,
nor will receive aDythng bat l0ycar bonds at A
cent Interest," principal and interest payable IN gOd II
those bonds could be negotiated at some
of the doctors" claim, then other long Il per cent bonds
could be negotiated 10 520 at maturity. $4,000
900 wedge is only q small 10 what actually need
home" there IS q mark which cannot be rubbed out
FredOnid, ~ j., Jan. le, 1869 ID. r. BARKER.
WHEN TIE Sky FALLS, WE'LL ALL CATCH LARKs.
10 the Editor Of The Tribune.
SIR: The voluntary system" in America
has sustained Church and Religion. 1t filed large
army provided the largest charities for the soldier
and proved itself power be relied upon whenever
1t can be mored Can this power be called into action to
aid the Government In returning 20 specie paymentsi
Every thinking man, woman and child IN the country
It's promises % pay" Should it determine do
once the Treasury might be drained OF its gold, unless
power stood ready 20 supply moro when needed
This power might be found I'm voluntary tax OF
cent all property held by individuals in tho United
States If Of cent acre on all the iaud In
the United States would pay the National Debt surely
OF per cent ali property IN IT, would DO more
than enough to supply all the gold needed 10 secure
the Government III returning to specie payments.
h,fcLs fTos Ian A