The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1874-07-24
EMPORIA NEW s.
FINANCE, TRANSPORTA-
T'ION, TARIFF.
Views Of Hon. Z. v. EsI1rIdge.

We find the following extract
from the GRAFTON OF Hon. T.. v
Eskridge, at Arkansas City. ON the
4th inst, printed in the Traveller, OF
that city:
But | will no longer dwell upon
the glowing record OF the past nor
the grandeur of the destiny that
awaits us in the future.
There are some questions not OF
partizau character now claiming
the attention OF the American peo-
pie. which | think may be appropri-
ately considered on an occasion
like this. The questions of Finance,
transportation, Tariff, Civil Ser
vice, and the election OF United
States Senators, the President and
Vice President, by a popular vote
the farther extension of the elective
franchise and the various questions
incidental to the Sc are all important,
and open up wide field for
thought aud expression. have
neither the data, time nor presump-
lion to treat OF these questions in
detail, and shall have TO ask your
pardon for simply alluding to them.
Notwithstanding the recent COM
promise bill passed by Congress
aud approved by the President, l
regard the financial question ~ still
an open one. Neither party out
side of Congress will be satisfied to
rest the question upon the terms of
this measure and in some shape,
believe it's further consideration will
be resumed by the next Congress.
IL appears as difficult of satisfacto-
ry solution at this time, as was the
question of reconstruction Mt the
close of the rebellion. The latter
WAS under discussion until the
last State was restored; the
former will be until the last
dollar Is paid. One of the difficult
ties In the way of a settlement of
the question arises from n suspicion
that any definite or fixed policy
would not result in equal advantage
go to the different sections of the
country. The interests of the East
and those nf the South aud West,
were brought forward under a Sec
tional aud selfish pressure, and to
some extent arrayed against each
other, and the consideration of the
subject quieted, for the time being,
by the compromise measure to
which l referred. No State or
number of States, by reason of their
geographical situation or identity of
interests, should seek an advantage
in the settlement of this or any 9TH
er question. No Legislation that un-
justly reaches the pockets of any
portion OF the people can give quiet
TO the country. Therefore, in my
opinion, before Congress can give
To US anything like q fair, safe and
permanent policy upon the financial
question, the representatives of the
people must place themselves upon
n broader platform and no longer
view the question from sectional
slandpoints.
Whether there should be an in
crease OF the volume Of currency
at this time l very much donbt.
Perhaps the amount now authoriz-
ed, with the distribution as requir-
ed by the recent law, may be suffi-
Client to meet all the legitimate de-
Inands. However, l can see no
good results to the general business
interests of the country in policy
looking to The rapid contraction of
the currency or the Immediate re-
sumption OF specie payment.
Therefore, as it appears to me, the
policy upon this question most con
sistent with the interests of the
West and not inconsistent with the
interests of the entire country, is
gradual resumption. by keeping
resumption steadily in view, we are
not as likely to depart as far from
the line of policy which will enable
us ultimately TO reach IL as we
might if we tailed TO keep n specie
basis as our guiding star. But If,
in the mean time, an emergency
should require an increase of the
currency, l can see no reason why
IL should not be authorized. The
policy of Immediate resumtion
would undoubtedly proye deIri-
mental to the prosperity of the peo-
pie. In the defeat of such policy
there is no danger of reputation.
This vast country of ours, with its
inexhaustible resources, can fiud no
pretext, even, for population.
With reference to this point the
alarmists themselves are not
alarmed, aud therefore no one else
should be. What Is true of the whole
country with respect to its unde-
Veloped resources is especially true
OF the West. 1t Is but lew Sec
ton of n new country. Its settle
ment Is now rapidly going OH and
its development but just commence
ed. To provide itself with schools,
bridges, public buildings and rail-
t. AZ hnnnnan
debtor to the East. This indebted.
ness was incurred at a time when the
newer western States could hardly
he said to have had a credit in the
money markets OF the world, and
they were therefore of necessity
compelled to place their loans at
some disadvantage as in COMPARE
son with older and weather. States !;
and at time, also, when the cur
rency of the country YVES compara-
lively worth less than it IS to-day.
Thus having disposed of our obli-
cations bearing high rate
of intesest on short time,
and ut q marked discount, and
having received for them a depre-
ciated currency, l do not much
wonder that the East, where
LllO6L Vi ODAAH0NAOho AOANl
desires immediate resumption OF
specie payment. She does SO, that
she may receive from us the gold
In place of the "irredeemable prom
Uses" which we receive from her.
The South in this respect is in the
same situation as the West. These
eastern capitalists, (and commend
them for their energy, enterprise
and fOresighD may get up CORNERS
on stocks and staples, gold and
GRAN, but it will be our own fault
II we permit them to ''corner" the
West or the National Treasury by
carrying out the fallacious doctrine
OF immediate resumption. Should
their policy be successful it would
inevitably cause a much greater
prostraIion of business in the West
aud everywhere throughout the
country to the great detrimeEt o
the producing and laboring people
especially the debtor. portion
There is no wrong done to on
creditors ii we pay them in kim
and value according to the terms Q
the obligation at the time it was in
Cured. 1t will certainly be easie
for us to do this under existing Gil
cumstances, or under moderat
Imitation OF the currency, than dur
ing the stringency consequent upo
the effort to bring about immediat
resumption.
But l must not longer dwell uE
on this question, as l wish to a
Jude briefly to one or two Other
now claiming almost equal after
ton. The next in order is Oh
question of Transportation.
In the consideration of this que
ton for a brief moment IL is NJ