The New York herald., 1869-02-23


in Paris.
Can anything be truers Es est ab hoste doceyi and
s aa s sas wea ine n NJ sP Of os 5
the resumption OF specie payments but preparation
for resumption. II leaves TO the people by their
a change from the usc OF deprecated paper TO the
representative OF actual values. And while this Is
on ~ sg co ,l Values he PROVISION Is 80 careuy
guarded in terms as not TO be subject to the objec
ton most frequently urged against such an act OF
legislation. IL cannot be made an instrument In the
hands OF hard creditor for the oppression OF an
embarrassed debtor under the specipus prctext OF re-
whether In view or the decision Just made BY the
Supreme Court OF the United states any pro-
vision OF law for legalizing contracts for the
Be a question. But 10 ~ q question which
had better be resolved by positive enactment. Aud.
direction Of judicial judgment. But how. or by what
process, are we to come back to the gold Standard
THAT Is the problem to be solved. Return at
COIN sunicient for such an occasion. SIMPLY
impossible. And II such sudden resumption
" meTs s ec 81 the a i would Sn bring no
debtor class which controls the productive industry
OF the country. scheme for resumption, 90 take
place at certain date In the future. TO be nxed by
law, would be productive believe OF cmbarrass-
mcnt and disaster little less serious and immediate.
chasing coin TO prepare for the given day, thus with
drawing that solid part OF our currency from any use
as such and g Is .c9 va'"s m Sy
other hand, stimulated and tempted by the percent-
age OF profit TO be made BY the operation would pe
taxing the paper money or the government out o.
circulation and laying ~ up for conversion into gold
when the day OF coin payments should arrive. Thus
the channels OF trade would be drained OF money In
two directions. and the country deprived IN good
degree OF both kinds OF currency. Prices OF all pro-
pcrty and labor would 60 down under this double
exhaustion Of the present supply or circuatng
medium until the prescribed period for resumption;
and then the hoardcrs OF grccnbacks, having con-
verted them into coin, would make accumulated
gam by purchasing everything at the runous rates TO
which market values would be reduced: and third
profit would follow from the subsequent gradual
and natural rise OF prices 70 an ordinary specie
standard. TO me II seems that every plan Is q mis-
take which proposes resumption - the direct OBJ
icct OF legislation, or which a. this time would en-
force specie payments at nxed date. Resumption,
In nv opinion, 10 be safe and lasting, must come a.
Z consequence Of wise and wholesome legislation,
and OF an economical and sagaci0us administration
of our financial AFFAIRS. We are nation OF abundant
wealth and wonderfully increasing resources let Us
add to those universal confidence In our good faith,
and no Power can command on more favorable
terms than the United States can whatever we may
need OF the capital Of the whole world.
THE POST OFFICE APPROPRIATION BILL.
After Mr. Schenck had concluded his remarks,
Mr.. BUTLER, rcp.) OF Mass took the noor and
moved that the House resolve itself into Commt-
tee Of the Whole ON the Post once AUTHORIZATION