New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-29

.....d IN having uniform. med standard OF money.
Il doing them wrong to keep loneer TINS rredeem
abe currency. It concerned well the manufacturers
and professional men OF this country Inc time Ior re-
n. nad NOW sod 20 TINS Country in return for
our cotton. He to protest against Its being sad
that only the mercantile class were affected by th state
PETER CooPER's SUGGESTIONS.
Peter Cooper said that certain thoughts had suggested
themselves TO him years ago. which II adopted by
the Government would have avered the present terrible
catastrophe. He said, among other things, that it was
in the power of the Government to preserve and
give stability to the best currency the country and
Government have ever possessed Ths could be done
by legaizng gold contracts with provision that no
increase shall be made in the present paper circulation
of the country and that the whole present circulation
shall be made legal tender with power to pay all debts
due the Government and individuals by adding an
amount OF currency IN all contracts TO pay gold eqaa
70 the premium that gold has borne during the
calendar month preceding the payment or maturing OF
the debtthat premium 20 be declared monthly by the
Government This course would brng gold down to the
smallest possible premium without disturbing the bust
Of the country. 1t would lessen the power OF men
to Increase or diminish the price Of gold and this would
bring the paper circulation par with specie Dy
the great increase OF our population and the growing
business OF the country AS all would nnd IL 10 their IN
tere 70 reduce the premium TO as small an amount as
possible.
TOWER OF THF CONVENIENT TO REDEEM.
william orion said take 1t for granted that 1t Is the
duty OF the Government, OF individuals TO pay us
debts when they due The currercy OF the country
is debt due and should DO paid at the earliest possible
moment 1t is the duty Of every man who has note
maturing 10 nay a. Suppose he has money. 10 tho
class language Of eminent gentleman, now IN PIT
are two elements CONNECTED with the currency FIRST
the which performs MS function. may
tacate from GEN Hhouse that sC) in gold IS deposited
with him will do everything that the gold can no. beside
me1nm can srpass that OF tho United States failiay
called ereenbacks But had desired tnat 'le 'Gu9 t
appreciated and It's purchasing power Increased dls
agree however, entirely with the views or inc scnle
IN uteit
belief on the Part of The people ia the ability of the
Tinted states 10 redeem s4Oo00oCoO OF greonbacs with
ss0oCoOCO Of gold Itis not material what anonnG OF
gold may have on hand AT the tine OF resumption.
bat Il is material that gold the open market sha not
be worth than the Governments promises TO pay
The balance trade be in our favor Tue financial
current specie must only set toward u.s. but there
must 10 aTeas0naUe promise that II VIII continue So.
The Government can resume specie payments WIN u
much less amount Of gold the evidence IS conclusive
that the flow toward Us Will DO likely 20 meet the &c
| mand for resumption upon the Treasury. MT. orion
thought the action upon the reports should DC postponed
| in order 10 give more time for consideration. 100
ence the fixing Of certain day for
but that should make no dlsasIee!Den as AZ wOuu 'y
| Government This very favorable moment for
tho Government TO act ~ We %iS t"O S Ia, mo- S
flow out Of The country WI continue a1 seh W. neySr
win have resumption, for we viii not nave any gold
The speaker moved that instead of TIE proposition OF
Mr. Low, fxi1s the date OF resumption on Nay y ~
1t should reao - ~ soon rs the price OF gold tnd the
| state of the money market viii adnit"
thought all the members were prepared 80 vote Tor re-
Js T. stralalan spoke in favor of vote OF The
amendment OF HT. Stevens. John f.. Henry asked that
any action might be deferred, he had not had time 10
examine The reports. Mr. Chendan thought - yo,o
could be taken with as much understanding as 1T
auy time MT. Opdyke criticised Mr. bteyehss amend
IT. saying that no understood 10 mean, not imnc
! oiats resumption. but beginning Of resumptoa ana
referred the late experiment Of payIDs out - III siIeF
On ali claims.
TIE question was thonput on MrOpayHes amendmont
stung the minority report Tor tn5 majority report
ana was lost, about twohrds oi the members voting
against II. Mr. steyens's Amendment was voted down
nv hl gau1pN ptc
| jGurnmeut TO next Tuesday, ana tlo motion was
ADOPTED.