The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1874-06-14

n
A prediction q year or two a.o !,
rresa0ent Grant would ever earn penn ~
tion ~ political economist. wouiS ~
I been received with derisien. And ~ aas
he is entitled to the credit for the s ~,
which Senator Jones puts forth aa b;s NJ
authority, he has given the cleareat a r,S y
sion to sound; financial principles wh;aa
the discussion. It is an INTELLIGENT AZ "
ration Of Horace Greeley's aphorism' s -.
the way. to resume is to resume. 'Is|
believes in return to q specie basis a, ~
earliest practical date, and believes AZ Ivy
the time may be fixed, and plan devis sas
now as we'll as later. The plan he wnnis
recommend though he has no conadsuoua
that it will be adopted by the present Cow
gress, is simple and feasible: Sou'|
l. He would repeal the Lepal.Ten,.-
act, the repeal to take effect July /, Is5s
All contracts made su bsequent to that Jat.
would be on the gold basis. wake
2. After July l, 1876, he would b.,.
greenbacks redeemable Ia coin at ali tse
Assistant Treasurers' offices, and wou1S
issue s1hcient amount of gold bonds n
provide for such redemption. All crear ~
backs presented for redemption should be
3. No bills should be issued in excborn,
after redemption, of smaller denomi1s'
ton than SO; within one year after va
demption all the S5 bills should ba a's n;t re-
drawn; and, within two years, all the s1o
bills, 30 that the country might have =
permanent supply Of gold and silver 10
fsE
4; Then there could be free b. a,.,,.
without limit and without danger. ~
rms is the whole plan In nutshell. nm.
!ncumbered by any confusing proyisions NV ~
GemPor,zing compromises. It is not the
detail but the sspirit of the plan which
should commend itself; other might Sa
substituted if the spirit were retainsd II
!t were adopted, the people would wondar
before. Gen. Grant understsnds rbet
Messrs. Morton and Logan probable con,S
1ot comprehend, that q poorer c1rrencv
irives ont better currency, and that.
when gold ceases to be Commodity al
which the country has surplus and no
ieeo, 10 Will remain in the country instead
Il seeking market abroad. In the mean
lme, Gen. Grant would maintain an excess
# revenue over the Government expendi.
ures, ~ by rigid economy, and i2 by
axation where it could be best and easiest
orne. II this policy could be maintained
he country would be we'll prepared for
assumption at the time he fxes, the national
redit would be In condition to command
II the gold it might need, greenbacks
~ "VAeu pol, anu bn0 - QeOt0r"
lass would not be half as badly hurt as the
creditor class was when the Legal.
'ender act became a law.
Gen. Grants utterances have probably
sceived a peculiar and striking emphasis
trough the Interpretation Of Senator
ones, OF Nevada, who had already demon.
rated in his Senate speech q good lead
n practical common sense and logical
nance But it is sufficient If the President
and approves the views thus
at forth. He may not be able to induoe
10 present Congress to adopt them but
is in a position, by the exercise of his
'to, to bring the question before the peo-
9 III simple form, and TINS divest It of
o complications with which some of the
mpromise Congressman desire to befog
The authorized PRONUNCIATION of his
ews at this time may be accepted, per-
Ips, as the declaration of his intention to
This. We are not sure but this would
the wisest plan. Now is the best time
settle the financial question squarely and II
lrly. Better fight it out on this line. We
not want to go through the squeezing