Wilmington daily gazette., 1873-10-10
Hard Metal the Only Cure.

From the earliest recorded history of mankind
gold and silver have been CniFersslly recognized
sa the standard by winch al property and commo-
dites have been measured. Governments have
s0metimcs been compelled by overpo Rering nsoes-
sity 10 issue bills OF credit-promises TO paV gold
or silver at future lime and force them into
circulation by making them legal tender IN pay
ment Of all debts; but IL has never been confended
money Of country, however rich and varied Its
resources. Paper money, when Issued otherwise
than an auxIiiary 10 gold and silver erngs with
1t train Of evils, and should therefore either be
male reasonable in the p.e.ious me ais
or permanently called In as soon as the e1iRspcies
whIch demanded its issue have passed away The
pnesant currency OF this country has decided mCrts
IN many respects, especially IN being simply secur-
ed by deposits Of Government bonds, or by the alb
solut8 faith OF the Government. Its comnete
Withdrawal is thns unnecessary, but the time has
certainly come when Il should be convertible at
par into gold aud silver coin, and the two MONEYS
erculate consequently.
We are told BY the advocates of imitation that
there is not coin enough the country To warrant
such q coarse. Under the State Bank system
which existed before the late Civil War that woud
have been true, but the s entirely different a
resp . the present NGt.ODal curronty Protected
by deposit OF Government bonds, o. by the faith
OF the 0OVeEument, will always have a credit
never attained By any other notes not issued on Q
specie basls. That very credit IL Ia itself one Of
the stongest elements 10 be taken into account In
estimating the means Tor resuming and continuing
specie payments. The holders Of the currency
having In reality the Government 10 fall back upor
IN any contingency, WILL within reasonable time
altar r sumption, prefer Il 70 coin, on accoun: Of
it being nero eonvsniently and securely carried
sad resumption will be th1s the more easily main
tained. The first effort will be attsAded with some
farther shTinkAgs Of values, but not serious or IN
suppoEtAbie. The Present. time il prOpitious fol
the movement. We have a fair stock Of coin. and
. great one Of cotton ana grain in the country
sai are about 10 receive large imporlations of for
sign coin, which, in addition to n monthly product
o. about i've millIOnA Of The precious metals from
oar mines, will give US means amply sufficient fol
any demand likely 10 grow oIt Of resumption
Moreover II 10 now certain that impors from for
eign countries viii greatly diminish. Ifthis gold
en- opportunity u permitted 10 pass, and the coun.
try eontinaes 10 await the result Of the discussion
as to whether we sbail have an expansion or con.
traction OF the currency, greater evils taan thoss
heretofore experienced viii undoubtedly follow :
Resumption DOS 10. necessarily depend upon Z
previous contraction Of the currency bot il would
bEing hundred and fifty millions OF 1ln into cir
sulatioD, give aesiFity and prosperity TO all egit
natS business, and tFs9 the country from the evil
OF Auctuations IN the circulating medium and dc.
raagOmebt Of business.-N, y. Ti5ane.