New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-30
A RIDICULOUS NOTION.
CURRENT DISCUSSION.
MR.. BOUTWEILs VIEWS ON FINANCE.
from m CiicdJ0 TTtbitaG

from Csl1dg0 TTtbaaG
The balance Of trade is one OF Mt Bout
wells principal OF the panic and Imitation Oh the
currency hs remedy. IL Is idle to discuss te matter
with hiG. The fact that who utteFa saeh view.
rs these several years, and up 70 very snort
time since, Secretary Of tho United states Ireasnry
would IN tae absence OF other CAUSES DC aosV eh0us"
IN Itself 10 account Tor a panic
AMATEUR BACK PAY GRABBING.
from The Springfield Rppbloaa.
There has been "a little amateur back pay
grabbing ia the (reormedl postal service, 9hiess Ihs
TRIBUNE il mlsinforned In one case. Mr. Boone pro-
the mead OF the pay department. 10 sad " nave
drawn retroactive" for tue four or Yo mOHJhs curing
which the post stood vacant In another young man
named McGrew promoted through tue exertlons Of ms
larry pUcketed pay for ten months for when he Dad al
ready drawn another and smaller salary as suDordh'9
tue Skin auditors ONCE where ns lather - Onlel
clerk imitation the sncerest naiterY Ihese gen
tlemen to rse under tie present Administrations
com ASD s CURRENCY.
To moderate the ardor with winch thls
scheme al ready resumption IL urged, TIE NEW YORK
chat the drain OF gold from Ibgland 10
America threatens destroy confidence ana credit IN
Great Britain, with the consequent ehect OF increasing
tue disaster VI the panic IN Inls country. lhls view
i fortified by reference 20 the advance In the rate OF
discount by the directors OF the BANK OF England
Moreover THE TRIBUNE refuses tine satisfaction 80 gen
orally expressed tue alleged fact OF the Dalance OF
foreign beng in favor Tue official report or
last year. the United states SC0OOooO behind on
merchandise account while the return OF tue com
erce of Hew-York City, the month OF September,
y Inn s1I 9Go c0l I'm currency But even TINS il a
vast Improvement last year and tue tide already
turned Will largely sweed in our favor as the COTTON
crop comes in FOR shipment to say nothing OF tae gra
now on it, way II also but 10 days before S6OOlOyO
interest public debt will be due aud as our bonds
largely held abroad. IHE lRiBuhI hopes mat tig
payment may stop the effux Of gold from London"
But a. il will hberate the amount OF com III THIS
country the Immediate effect here VIII be about the
same as II IL were salpped from England
SPECIE PAYMENTS.
When Horace Greeley sententiously said,
" Tie way to resaue is TO resume =! ms remark was
greeted with howl OF rdcde from all the lnauonists
in the land But what plan did they Oner IN rtply
None at ali. Tley camOFcd Tor more currency as lheJ
always have, and vaguely limited OF time ID the uuIe
when tue country would grow up to tEe amount OF
currency in circulation 10 l. Just as reasonable 70 Lax OF
a Traveller ON a bOundess desert growing up" to A
mirage. We never resume specie payments but oy
turning rcsoutey Ia that dlfe'tlOn mat was %ha'
Mr. Greeley meant. H. did not propose that the Gov
ernuent should resume &C once, put thaJ II
should look in that direction, aud decide 10 re-
at CERTAIN time, meanwhile preparing Tor H.
Never Secretary hcCulIoch was stopped IN hs
work OF contraction has the ADMINISTRATION OF congress
taken one step toward specie payments On the con
trary the currency has been expanded. and more than
the Treasury Department has come 10 the ana O .ne
stock gamblers by issuing currency once Withdrawn
which IL had more right TO Issue than the stock
gamblers themselves. Now, we are told tue Admins
tratOn in favor OF resumption. We knew no better
advice 10 give it than the sententious words OF Horace
Greeley We have quoted above: Ine way to resume Is
10 resume 20 Let the Government look in mat direction
prepare for It, and set tue day when II % redeem LIS
promises TO pay. BY so doing VIII enlst with IL an
tho power of the pecuaors aud nud the way prepared
before IL as Il advances.
THE SWEDISH COLONY IN MAINE.
Tie lug lsfd (Bel Journal.
The experiment made in this state of colo
nizng Swedish settlers ArOOsOok made the subject
of an editorial in recent Issue OF The NEW YORK TRIB
NE The object OF the writer is to direct the attention
OF tne people OF NewYOrk to the enterprise IN Maine
for the purpose OF awakening interest in the subject
with view to similar undertaking in the Empire
State The northern part OF NewIOrk 1t Is SAID pre-
seuts a favorable field for the experiment. There IS
large quantity OF land there unOccuped or very spaTsey
settled, the climate is favorable, the soil good, and
other natural conditions are represented as not much
different those in AroOstoOk. such Is the
! representation made, but doubt II tho north
ern part OF New-York Will compare In natuTa
fertility with AroOstOOk. There Is an erroueou:
idea prevailing the agricultural capability OF
Maine, and particularly Of that portion included II
AroOstoOk County The soil OF Maine Is superior to thai
OF Massachusetts,. Win equal labor and dressing II
Will produce better crops And ArOostOok IS not ex
ceed n it, resources farming country by any par
OF Maine or the most favored portions OF NewEngand
OF NewYOrk But lt Is not our purpose 10 discuss ht
relative merits or AroOstook and Northern New-fork
We only direct attention to the fact that swedish
Colony has attracted important attention abroad anO
| has commended itself example worthy 10 bt
followed by leading business State OF the Union
TIE article to which nave referred gives very care
fd and truthful synopsis OF the steps which have been
taken with the Mauo Colony, It's growth, and present
conditions.