New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-11-16
ORLEANS REPUBLICAN, SUNDAY NOVEMBER 49, 1878

| uuctlve and free people, Dy winch their
values are measured and exchanged should
| be uniform, sound, cheap, stable and
elastic. He says the quality Of uniformt Y
! of our present currency possesses in sutf-
Gent degree OF perfection; that the
soundness may he defined as Ger
! tainty that the currency IL so secured
| that il can never tail OF exchangeabiiity
| for equal intrinsic values; that as TO the
cneapness all financial writers agree that
paper currency is the cheapest of al
| possible mediums of circulation whether as
regards the cost of it's supply or Of its wear
and tear, or because Of being nonproducipg
capital while circulating from hand to
hand: that stability of currency. is,
perhaps, the most importan: Of all its
attributes. 1t Inav be well enough defined
as quality of currency when used as
standard and measure Of value which
renders it Interchangeable at all times as
compared with itself. A measure OF value
should 20 mere change than should tire
measures Of length, quantity err weight. 1t
should be az all times one and ihe same.
" hen ak Che property OF :: people is once
adjusted 20 such . measure o. value, . is
Of comparatively little moment WHAT that
measure may be. Bu. will not undertake
to follow the General IL detail in all tina. ne
said. Suffice it that he will be early in the
field after the House meets with a financial
relief bill. He left yesterday afternoon for
Philadelphia, where he is t,-aay one OF al
advisory counsel in d mstter OF railroads.
IL is understood in legislative circles tina.
the great lines Of railroads subsidized Gy
the government vii! enter Washington a.
the next session So one grand con. binaton
asking for protection from Congress which
shall be mutual: that it is agreed that nc
one road shall receive aid from .te govern.
ment sc he expense or sacrifice Of either
one OF the others. Such course, ii per
sisted in, will incite Che producing classes
20 rally 20 the standard OF cheap transp0r.
tation. The latter vii! constitute the .srs-
esc number Of voters. ans. Il Senlans 60 DC
seen which rowe. will control she sepIe-
sentative, the mass OF mechanics and labor.
erso' Combined capita. in the hands o: q
few 4 gentleman from Washington yes.
tesGay informed me that within a week she
beet houses in that city. 2" 3 very large
number, have been rented until after the
next SESSION by the friends and agents OF
Che three great lines of railroads from ehe
Atlantic 20 the Pacific and intersecting
roads. The same authority says that every
influence shat can be brought TO bear upon
the Congress and the executive 20 &ccomp.
lish the purpose cs the CON :;H St.on vii. be
used
Business, generally. Ss finding level.
In some establishments the system prevails,
with the consef.t OF the !.bor.rs, 20 con.
tinue work on cne-haif pay: the other half
to be paid when times are better and bust.
ness is more profitable. The house o: II. Z.
Clafin s. Co. was opened Today 80 the
public. and foreign and domestic stock of
sig million dollars was offered az such re.
duciion from present values. ''as will n
sure the sale 0: their entire stock within
thirty DAYS. Such was their announce
ment in the morning journals. TIE people
took them a. their woIG, and the.: snoas:er
buiiding-alt lis rooms and stoIiess from
sub-celiar to attic-haye beet c:o"deG with
buyers This sudden conversion 0: che
goods on hand. eveu 4. low prices. not only
meets Che public wants, oat secures sne
necessary wherew:th :" enable Clahin s;
Go. 70 keep their engagements with :Leif
creditors: which they w;.s DO faithfully.
and Je able 20 start anew.
Cotton has fuc:rate1 y.-.- :auch % .ase.
60 the grea: I'M II: Of ;i.e posses:or,. Those
who are able are taking advantage q. 'ae
fall and buying. in .hs hope that til: WAR.
ket vii! become .ncve heaI.;v g: :&esn. a..I
tIa' prices WI! go ~. 4.