New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-21
RESUMPTION or SPECIE PAYMENTS

TO th> Bdttor Of rhs Tribune
SIR: Tho Government and the people arc losing
a golden opportunity. Both should peremptony
insist upon resumption Of specie payments The OBJ
stacles which stand in the way Of this desirable
summation would DO brushed aside by a vigorous
movement. The Government, sustained by tbs
People and Press. would encounter less difficulty
than is apprehended. These difficulties scarcely az
ist beyond the purlieus OF Wall and Broad-sts Re-
srrrption is hndered by tho artificial rather than
t,- intrinsic value of gold. IT, as In Apostolic days.
the tables of the money changers could be upset our
eyes and hearts would soon be frightened and glad
dened by the temperance of silver aud gold. II.
Also as was generally conceded the temporary olos-
ing Of the Stock Exchange was relief. would nor
the abolition or demolition of the Gold Exchanges
be positive blessing Indeed, it is almost
certain that If tho purchase aud sale
Of gold ION time' could be prohibited
for ninety days. resumption without Othor aid would
be an accomplished fact The causes which retard
the resumption Of specie payments are Just IA patent
as those which occasion the existing financial Dc
rangement-a arrangement wholly unnecessary 30 far
a. the general business of the country concerned.
Our agricultural and commercial circumstances aud
conditions never moro prosperous or palmy.
The evils from which we now suffering arc Via
legitimate fruits Of gambng-gambling in ITS won't
forms aud aspects because whilo faro bank gam
bling only Injuries those who put down their money!
the Wall and Broad ST. gamblers rob and ruin thou
sands who suppose their earnings advantageously
invested safely deposited. In other words. half
dozen individuals whom | could namo as leading
gamblers in Wall and BrOad-sts. do vastly
public harm and Tapacious and prodigats
men than the same number of reputod gamblers
doing business in the vicinity of Fifth Avenue Hotel
Vigilance committees have in some emergencies
been found TO be not only necessity but sanitary
! remedy for universal and overwhelming vices AMI
| crimes The highest and most beneiiCont oxpTo.s-
siOns of justice have occasionally been revealed in
! an unwritten code familiarly known ~ Lynch
| law" II the chief gamblers who Occasioned the
gold panic of 1888 and the Northwest Of 1872
together with the Insurers who brought about state
OF things which enabled them TO loan money at per
cent day. had been suspended by tho neck across
the streets which they desecrae tho city would now
be exempted from present and prospective suffering
The future Of our country Is by no means un-
clouded. There are specks in its horizon bigger
than mans hand. Generations of idiers grow up
to consume what their fathers produced. AgrlcD-
ture and tho mechanic arts arc Neglected. Tho
practical industries II tho country languisb. With
out emigration we should be unable to cultivate tho
| soil or supply manufacturing establishments
ant. workshops. Parents longer charge them
t..''
cept and example for lives OF industry and useful
ness Hence wo have an army OF ,2ung mon sock
ing precarOus subsistence in Offices or flerkshlis
ending or later in destitution and suffering.
Absenteeism is becoming serious evil; the strain.
though less than that which haa SO long Iui-
pOverished Ireland. is awakening attention Tho
amount of gold annually expended abroad 1, com
puted at one hundred millions, every dollar VI
which is practically sunk, for even tho passage
money goes into the pockets Of Europeans for the
support of foreign to the exclusion OF American
commerce. The moral OF all which u that our
country has grown too rich Nations, like indiyId-
uas. are most happy and virtuous while by industry
and frugality they making their fortunes. 1t
requires great wisdom and thoughtfulness therefore
the part of the Government. the Press. and toss
who mold opinion. to guide and guard tho people
against the fatal consequences Of dlen1ss aud lax
| ury. W
| ke,p- York Oct % 1873