New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-13
RESUMPTION OF SPECIE PAYMENT.
THE DANGER OF DELAY.


THE NEW YORK TRIBUNE advocates the heroic
remedy OF contraction aud thinks that no better time
than the present can be found for at once returning TO
heavily upon large class OF the community
men SU b rS pressn loss Would be
gain and prove the forerunner OF the healthy tone which
prevailed before the II Is conceded that the coun
try must get back to specie basis at day. and
that the sooner this takes place the better Delay may
It is matter which only be met by bold and pro-
nounced stroke OF craftsmanship The recent events in
tanning metallic currency SO far there have been
no failures among our mercantile community, nor Is
Affecting as We should, however as a community es
benefited by resumption of specie payment, and tho
that takes place the better for the entire country
NECESSARY PRELDiINARIEs To RESUMPTION.
From IadepeAd>nL
THE NRw-YORK TRIBUNE, whose wisdom In
respect the resumption OF specie payment consists in
simply saying that the way 10 resume Is TO resume.
urges the President to call forthwith special session
but simply to iegislate for resumption" We presume
that the President Will not heed the advice The ques-
no damage BY The delay Of few weeks We must az
last get back TO gold ana silver the standard OF yaue
dollar by the convertsy OF the former the atter
yet before legislation will DO in order unless us action
dates for a considerable period ahead the financial con
dtlons for specie resumption must be present. Tho
gold premium must sink by fxed tendency TO lower
point before legislation safely force the country TO
make the leap the chasm between gold and paper
money and even then the leap cannot be made without
a serious disturbance OF market values.
A SLOW AND SAFE POLICY.
Ffom TIE Troy Wig
We are for slower and safer policy than
that of THE TRIBUNE We would have Congress al ia
next session pass q law calling IL. and eanceling ths
fractional currency redeeming II In gold aud silver:
The same Las should require postage TO no paid IN gd
and silver or greenbacks. We would also chanse INC
Banking law TO free system like that OF New YORK anu
permit any number OF banks to be established pfOtueu
they would deposit with the Government ls bonus
the amount OF their capital The greenDae ~ ishe oo
made convertible into II or per cent bonds tor tAa
special purpose OF forming capital for the DthSs anu
wthdrawn from circulation Just as lst az paua no
were issued IN their place. When the ertenOaoks were
all withdrawn from circulation. the Government could
collect all its dues and pay all its debts Ia gold ana
silver. I'D
AN ABSURD PROPOSITION.
From TIE Besi CA>sir (PeaS) RspseiodA .
THE NEw-YoRK TRIBUNE Is a very able ana
spirited newspaper aud aside rom few hobbies whoa
the editor "A constantly Destrding, derive pleasure
been literally ridden 10 death In Its columns Is re-
sumption" or specie payments" In our JUDGMENT,
there can be no greater absurdity than ,e present
pronosltion TO resume specie payments ino Naton
kaks cannot even pay their depOsltois Win currency.
"a Aay nothing OF rcdeemng thelr 9uls.shuing notes
Nth eeiJ Ne viii make the prediction that tbe
a',ntrv VIII he compelled 10 ADOPT moro general sys>
80, atton than exists, before The question of
,asn,nntion Of speoe payments Is successfully solved.
THE BEST WAY.
mon TIE ciaasaati cousmavaI
As Mr. Greeley remarked, the way TO resume
~ to Resume II there "a suY boJter way VII some ona
please mention w .I..