New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-30
THE TIME To RESUME.


tunity since the war. There has not oeen
since the passage of the Legai lenuei ao'
anv financial situation or crisis that so held
ont all its hands inviting to resumption olaii
we let it 60 by? The crisis calls Tor nrh
hand. clear head, and determined purpose
that's all. 1t requires no superhuman wisdom 10
discover our disease, or any profound poiitlcai
science to detect its cause. We halt between
palliatiOn and cure. Here's an hours work with
tbe knife. or an endless stretch Of spllnts ana
bandages, lotions and plasters, Opiates ana
stimulants, with recurring paroxysms, spasns'
and commissions, and never sound health III
body or limb. Shall it be surgery or
ouackery 7 We must choose between them.
To-day's opportunity is for the country, Tor
the dominant party, for the President. 1t is
within the reach of the President, who has but
to nut forth his hand and seize it, to make
himself great name, give his party the new
prestige that it needs, and establish 1T firmly
in power and lift the whole country up 10
pure air and solid ground.
Let the President issue his proclamation
converting Congress in an extra session at
eight or ten days notice, with the sole object,
distinctly stated in the call, of legislating for
the immediate resumption of specie payments
For ten days past people have done almost
nothing but stand in front of their balance
sheets and inventories and see a rapid and
| constant shrinkage in values. And there IS no
| knowing where it will stop or when, for the
simple reason that there Is no financial hard
nan. 1t has been abolished by law. For
eleven years we have gone on doing business
with irredeemable promises. We have taken
notes of each other and paid them with
the notes of the Government, which
themselves were without relations TO any
thing having fixed value-unstable ana
| irredeemabIe. So long as we are content 10 90
business upon the system of renewals, giving
and taking new notes for old ones-wlth
government setting the example-we seem 10
be prosperous and healthy-we grow up III 1uli
enjoyment of the dropsy, OF rather we bulge
ont like The Graphic balloon into beautiful
proportions, with Grip line" Hanging within
anybody's reach. Then comes time-lt mas
come to us-when people begin to inquire
what the paper represents and to grope for
standard of values Everything tumbles, and
business stands still except in bankruptcy
courts till that standard is reached Let us
| have that eStaDHSntu Dy TesuHlHB spcCio pay
ments We have had quite enough of bal
looming; enough of this running speculation
mad, of kiting stocks, of laying railroad ties
on moonbeams, giving mortgages on fog banks,
and calling ourselves stout because we have
gorged ourselves with the east wind.
Some time we must get back to specie.
That's admitted. Why not now9 When will
there be q better timel When would the whole
country be more benefited by it than nowf
There ought to be craftsmanship enough III
Congress to devise a simple, practicable
method. 1t is not the province of journalism
| to legislate, and legislatures are prOverbially
Jealous of interference with their functions by
the press We suggest nothing except that
Congress be summoned together for this
purpose and this only, not to putter
over and tinker up matters, but simply
to legislate for resumption. The Admin
istrauon of President Grant has an OppOrtu-
nity to lift itself into better place in history
than almost any of its predecessors by this
simple act the Republican party has an OPP
portunity to redeem itself from a record which
its best friends admit is not wholly glorious,
and the country has an opportunity to step out
| into the grandest part of its career. Shall it
mass unimprOved? Let President Grant settle
it, so far as he is concerned by converting Con-
gress and putting upon it the responsibility of
meeting the emergency.