The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1872-07-25
GREELEY asp rur rts.r,r.

eauatsy bsE never seen did not follow
a.e war Is due 70 the uuwayeing pei.
. icy gf eur government. the strong deter
minatiuu L. pay OF the national obliea.
lions IS ooin ur its equivalent Now
che MOST violent 81 Grants appuars
cannot 1eay that the country has been
financially prosperous and peaceful
during tho preseat administration. and
la ordinary Times we chain this co Boz
the best recommendation amy adainls-
tfatlau raa have
lt s quite evident that oar business
mon would rather trust &. four years
more Of prosperity uudcr Grant than 90
ran the risk Of trying new hand at tue
helm. 1t would take bat a small
amount oftinkehng by a bungIing hand
to disauangs the machinery So as to
bring financial distress and ruin
I Mr. Greeley during the past three
, yeaa las persistently advocated two
things, selling an the gold in the treas.
ury and the immediate resumption OF
specie payment He has claimed that
this could be done by just speaking
the word.
I Hgoyernment had gold enough in the
treasury 70 pay OF all its Indebtedness
it might be true, bat not under oxis.
ting circumstances, and even If it could
it would bring more or less disturbance
financially, But it has cone to be a sc.
rious question in the minds OF many
whether it is good policy to keep SO
large an amount ia the treasury. This
however, is rendered necessary in or
der TO keep in check the rings and stock
gamblers in New York who otherwise
could control the gold market to the
great detrimcnt Of the business in,
tercsts Of the country.
In a recent speech in North Carolina
Secretary Boutwell, made the following
remarks in regard to the policy Of the
government:
1t can very wen be understood that
the sale Of gold in the treasury, wheth-
er for the payment Of the public debt
or otherwise, would put it out Of the
power of the government to resume
specie payment, that the sale Of gold
in the treasury, forcing down the price
mutually would stimulate imports, in,
crease the balance Of trade against US,
2 create an unnatural and excessive de-
mand for coin, and ultimately advance
. the price Of gold for the benefit Of spec
ulators and gamblers, but to the great
injury of the country, l do not hcsi-
tate to declare that this policy, which
is the only policy in any department Of
the government to which Mr. Greeley
has adhered for even three years,
would end in disaster, such as the
country has not witnessed since 1881,
and if Mr.. Greeley is pledged to any
thing, it is to the Inauguration of this
policy, if unhappily he should be plac.
ed at the head Of affairs The way to
resume is not to resume arbitrarily and
without regard to facts, but to place
and keep the country in that line and
condition Of prosperity which shall en-
able it to meet all its obligations and
il is for this reason that the administra.
ton has believed il to be wise to retain
F. an amount of gold, which should be
sufficient to enable the treasury to re-
sumo the payment ofour national liabil'
tiles in specie, without going into mar
a kot to borrow, and without making any
G special effort for an undertaking which
B. would certainly result disastrously il
j. the government were not strong
enough 70 move without dependence
upon external aid.