The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1874-01-02
TAG PERPLExISG QUESTION IT.
NANCE.


IS finance; yet NO subject has re
ceived so much attention or q
baffied the best hrains'nf all coun
tries. /: might he supposed thai
a matter SO Intimately and vitality
related To every human effort. from
the first appearance of man on
this planet down to this present
writing, ought TO have been reduc.
ed to its elements in the crueible
OF investigation, and so concreted
| by experiment as to have taken
rank with the exact sciences. But
so FAR from ranking as an exact
science anywhere, finance corsfi-
tutes the bone of contention the
world over. Nothing beyond the
simple creation Of certain stand
ards Of value can be regarded IS
settled. If any two persons
agreed touching finance it would
be refreshing exhibition indeed.
For though q certain class of
minds agree in generals no two
agree as to particulars and details.
1t is easy enough to declare that
finance is strictly subject to the
laws Of trade. But who shall an
thoritatively expound the laws of
trade? The world knows less of
these laws to-day than it does of
the laws controlling the weather.
And there is little risk in affirming
that the operations of nature, even
in so remote a body as the sun,
are better coTrDrehended on this
earth than the complex operations
which We name business.
If only this endless wrangle
over finance pertained to neo-
phytes il would not so much chal-
lenge surprise. But it does not.
The ablest and most candid minds
differ radically and continually.
Statesmen Of the first water join
in the wrangle: And the oGher
day tho New York Chamber of
Commerce appointed q Committee
on Specie Payments, and probably
constituted that committee of It's
ablest men. Yet, after mature de
liberation, the committee found
itself unable to agree upon a COM
mon report. It divided, and each
party memorislized Congress &C!
eording to its peculiar views.
Perhaps this was to have been
looked for, but the fact does not
go far to re-assure those credulous
persons who regard tho matter of
relief for the present and safety
in the future as within the abiiity
OF Congress to secure. While the
Committee found some points of
agreement in common, IL differed
upon some not less important.
The majority report assumes that
the currency is not so much in ex.
cess of the demands of the busI-
ness of the country that the re-
demption of legal tender notes
need be put of longer than May,
1874. On the other hand, the mi
nority report assumes that the
currency is so largely in excess of
the requirements of business as to
render practical resumption inn
possible. The minority report
urges continuance of the present
status; that is to say, neither con-
traction nor expansion, until re-
sumption shall have taken place.
The majority urges steps lead to
contraction as a method to re-
sumption at an early day. A
more radical disagreement, prinaG
fdcie, can hardly be conceived of.
Smooth it over as we may, there
is something surprising in this va
rance of opinion between able
men, using precisely the same ds-
IA, and confessedly moved by the
same considerations. Still she
disagreement is susceptible Of ex-
PLANTATION. We have only to re-
feet that no man engaged in bust
ness can entirely divest his mind
of self interest, and the prejudices
which he has inherited or acquir-
ed. And the most disinterested
of men inevitably regards his own
and the common interest IS one.
The common interest must be re-
garded as compounded of class in
terests as varied as business itself.
Take, then, the most conscientious
man you can find, prominently
connected with any great interest,
and request his opinion on any
financial emergency. His opinion
will inevitably take color from his
interest or the interest Of his class
of business. It cannot be other
wise. For here the law Of self
preservation comes in and will not
be denied. Is it to be assumed,
therefore, that agreement upon
any plan of financial procedure is
impossible? Not so. Every man
gives an honest opinion, however
colored by self-interest, and some
where in the mass of varying
opinion must exist an idea consCi-
tuting q central point Of compro-
mise. But il is as well to remember
that no adjustment can probably
place finance in the catalogue of
exact sciences. We very we'll
know, all of as, that any adjust
ment equal to the financial emer-
gencies occurring prior 20 the dis
covsry Of gold in California and
Australia might, and probably
would, prove unequal to the pres
emit emergency. Prior to that era
business WINS crampcd, and enter
prise fettered by the scarcity of
gold and silver. Every nation was
compelled to keep watch and ward
over its treasure. And it took a
long time to recover from an 8d-
verse balance of trade. But the
steady addition to the treasure OF
the world since 154S has not only
marvelously extended trade, pro.
duction and other enterprises, but
in equal measure. has increased
the recuperative power OF the great
nationalities of the world. It Is
only accessory 10 note the fact
that anything affecting the stand
ard of value Is felt throughout the
domain of human effort for good
or evil, and surprise at such crises
as the present ceases.-Phiiadel
phia Gazette. .rs
An old lady was last year rob
bed and murdered at The Hague
The edorts made to- discover th'
criminal were Unsuccessful, but .
length an individual was arrestec
on suspicion Of being concern
| ed in the deed. He. was kept i
| confinement for . month, &C th'
end OF which time, the 'eyidenc'
against him being 30 slight tia
the charge could not be pressed
he was about to be set st liberty
when It occurred TO the judicia
= Il