New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-04
CURRENT DISCUSSION.
RESUMPTION OF SPECIE PAYMENTS.
TIE SOLE FOUNDATION FOR FUTURE BUSINESS.
Prom The Chinnoo Ttflnas

TIE SOLE FOUNDATION FOR FUTURE BUSINESS.
tfonn The Chicago HibuHe. -,
Equally visionary are those who fancy tnat
The restoration OF specie standard IL far the best
country the new pro.perfy. tbe new confidence that
will arise hereafter But unless Congress produce
process it cannot arrest the economic forces which
now at work producing such unhappy consequences.
NOW THE GREAT OPPORTUNITY.
The ringing words of The TRIBUNE in favor
of resumption will meet with hearty response In this
section OF the country The time has arrived when this
matter should be taken hold Of in earnest would
put end to the anomalous state of things that mas
prevailed for many years. All agree that il would be
for the advantage every interest place
once more on sound and stable basis. We may never
this great step BY all means let 1t be improved.
A STEP TOWARD SPECIE PAYMENT.
From The Procidnes Press
THE NEw- YORK TRIBUNE is out in an earn
est appeal to the President TO call extra session OF
Congress for the special object of legisatg In favor OF
repeal the salary grab law could be included among
the reasons Tor this special session and the members
ment which would affect their pockets there might
be hope that they would pass laws restoring the
stands that political menSgere is better separated than
sitting in legal session.
CONGRESSIONAL HELP DOUBTFUL
THE NEw-YoRK TRIBUNE calls for an extra
session of Congress The TRIBUNE thinks that the time
is favorable for the resumption specie payments and
this is the opinion of our abest nancers. The
recent panic has brought prices down specie OASIS,
and II II announced that specie payments would ne
would materially decline. Gold is coming back TO us
with rush, and there s general feeling that the true
course 10 be pursued 10 resume specie payments But
we doubt very much whether Congress would belp
matters. The Congressional policy has been 70 issue
more greenbacks, and postpone specie payments.
A DOUBTFUL EXPEDIENT.
From The Toledo lO.) Commercial
One of the questions raised In connection
with tho existing that OF immediate resumption
OF specie payments, for which there 10 Do some
advocates. IL is argued that gold is practically so
TO TO offer little difficulty for such meas
While the price OF this article in New-Iork is
nOmnaly Il2, 10 is held that the price OF London eI-
change 400 shows the real market value TO be more
than 10s while II tested by the decline in other values
II is worth little II anything above par There Is mueh
force in the assigned but is quite doubtful
whether In the present feversh state OF feeling through
out the country, the resumption OF specie payments
would be found acceptable. Capitalists and lenders are
no doubt ready for IL; but borrowers may view II III
another light
BEAUTIES OF GREENBACK CIRCULATION.
From Ih< 81 Paul Pioneer.
Resumption of specie payments will come
about whenever the Government retres its greenDack
circulation, and never before. As long as Treasury
notes remain legal tender it may be regarded GER
tain that the country will be without coin While that
condition eXiss there Will be such thing redemp
ton by banks, and hence they have direct and imne-
date interest In opposing any effort TO restore the
money OF the constitution IL pays them better to have
currency irredeemable, and OF consequence nuctuang
and deprecated. II kind Of standard or value that
no one safely rely upon from day 10 another.
The benefits OF the situation all their SIDE, the
losses fall upon the people The fact 49, the Treasury is
power, and power opposed to any improvements.
stable currency would be fatal stock gambling ana
speculation. lt would end pancs, burst bubbles ana
give repose aud safety to the nation