The Republican journal., 1874-03-12
Washington Matters.
FERNANDO WOOD on THE FINANCE

FERNANDO WOOD ON THE FINANCES.
Fernando Wood spoke on the finances this at-
ternoon. lie arraigned the Administration and
Republican majority N Congress for its eNtrava-
CANT course. The deficit which Congress has to
provide for i not coming next wear but exists
NOW. He thought The appropriations Tor next
wear ought to be cut down TO S25O.000.o0O. and
he wanted the Government to stop payment on
the civil list. and congressman to cease drawing
their salaries until the deficit is made up He
presented many Interesting figures showing the
. oWth of government abuses. He said that
within the last nine wears our mines have pro-
ducei about $t40 900 200: out of this we have
coined but S24l 81 1913 in gold, and Sd IS. .331
in silver. making 4 total Of S2,9.13S..26. Thus
it will be seen that but little more than forty
two per cent. of the whole has been coined. aud
the balance made into bars and sent to Europe.
In addition we have received coin during that
period into the Treasury for duties on imports.
etc.. 81 190. 1926. Now. notwithstanding the
receipts OF so much precious metal into the
Treasury. we have still maintained and mcreaS-
ed paper money circulation. The policy of the
Administration in paying OFT a large proportion
of our public debt with these receipts had for
it, object Standardization. 1t has been welded
10 a fatal error. either ignorant of its conse-
quencc or willing to perpetuate so great n
wrong simply for the purpose of procuring par
iSan objects. The panic of last fail and the
strain that has been made upon the public
Treasury within sin months, producing national
dshonur. have all been the result of this policy.
THE COMING REVOLUTION.
Furnr,'S Philadelphia Press contains yigor-
Gus editorial to-day. on the political situation.
entitled still 'nloa'lng." quotes Geo. VIM.
Curtis With approval. and says: Men in such
4 crisis rs the present are nothing save As
indexes oi a system. 1t is not Gen. Butler, nor
Mr. simmons, nor Mr.. Sanhorn. nor Mr.. Casey,
bat The policy OF which they are the representa-
rhe> This policy is the burden that is break
ing the back of the Republican party Never has
the general danger been so imminent. and vet.
a, if to prove this statement. never has the sub
mission 10 TIL. bc>pOtiSm been 50 complete.
The remedy is not ii much change of men rs
Il change ri measures. When the money of the
people j. no longer used to debauch elections.
and ofra-holderS are not banded together to
keep themselves in place against the popular
Will. YOU Will no longer he troubled by danger
ouS and desperate politicians. Ordinary elect
ions Will moi answer, New constitutions are
inefficient. The masses must rise irrespective
Of parry. and take Iheir own government into
them own hands, and we feel that that supreme
relict cannot long he DELAYED"
TIIE I'm .NCEs.
There il now no measure of importance be-
fore the senate that can be antagonized with the
bill equtlizin@ the National bank currency, and
there is a strong probability that 50 far rs the
senate is concetned final action will be reached
upon this question during the ensuing week.
just Witdl lllil maj dtllOl VIII couslsi oi Is
generally q matter Of doubt. for the opposing
factions are equally strong in their predictions
and expectations. II is evident, however, that
a considerable change has recently taken place
in tho minds Of members of Congress regarding
thu practrability and feasibility 0t an imitation
OF the National bank circulation. Letters are
coming il to members representing constitu-
encie> in Western and southern States where
any increase of circulation is expected to be of
BENEFIT and to afford relief. The writers are
generally men Of influence and high standing in
their communities and art believed to reflect
the sentiments Of the better and more intelligent
citizens of those sections. The questions of
imitation, contraction and resumption are intel
ligently discussed and the weight of opinion is
decidedly adverse TO any increase of currency.
for il seems 10 be clean to the writers that their
people would realize 10 benefit from such in
fation. and they expires, the belief that what
ever. ii any. additional money is provided for
by Congress, viii certainly be drained into the
several large money centres of the country