Wilmington daily commercial., 1874-12-09
Press opinions ON the Presidents
Hard Money Views.


This ia in substance what the President has 10
say in defence Of his proposition TO repeal the
legal-tender clause of the Currency laws II Ia
unquestonably sound. The mischief arising 10
the country from our irredeemable currency
springs mainly from that clause. Without it,
the Government notes would have done compar-
atively little harm They would have remained
simply evidence Of public indebtedness, aud AZ
such they would have been paid. Ii the legal
tender clause is repealed in the manner propos-
cd, the notes become again evidence of debt to
be honored by payment This way OF the Presi-
dent is one plain way out
IFrom the N. Y. Tribune
The arguments which he adduces in upport
OF his recommendations of a return to specie are
not strikingly novel nor presented with the skill
OF scientific economist. But they are unai-
swerable, and have been so any time this last
century
lHrom the Washington Chroniclel
The Presidents argument against imitation is
unanswerable. 1t would be nothing less than
conhscation to the extent OF the depreciation of
the currency thus caused and he thinks, with
great reaaon that the immediate benefit TO the
debtor class, II 1t were not immoral and wrong,
would be more than oyerbalanced by the ultf-
mate effects oil all honest and healthy business
pursuits
From the N Y. Republc.l
The fault will not be his if the means are not
provided by Congress 10 enforce a specie cur
rency IN the course OF a very few years He has
pointed ont the ways it is left to Congress to
provide the means.
lFrom the Phila Inqulrerl
Considering all things, the recommendations
to Congress in this connection are not likely to
work much harm. We doubt if, in sincerity.
they could be made stronger in argument they
might be made much stronger. 1t is impossible
to doubt the Presidents earnestness, precisely
as it would be folly to deny-whch we do not
do, and never have done-that il would be an
excellent thing for Congress, or for any other
department Of the government to consummate
plan for establishing the national currency upon
| gold and silver basis.
lFrom the BALTIC Americana
| The President and Secretary Bristow are in
accord as to the best plan of reaching a resump-
ton Of specie payment. Like most wise schemes
it is the simplest possible. The President would
have the legal tender act repealed, thus legisla-
| ting the greenback currency out of existence :
he would have the national banks, under a free
banking law, supply the circulating medium Of
| the nation without any limitation as TO volume
The plan If so devoid Of complexlty that itneeds
no elucdation.
tFrom the Baltimore SUM-
| 1t IL gratifying to find that upon this all i'm
| portant subject, which is pre-eminently and
above all others, 'the question Of the hour the
Presidents trumpet gives no uncertain sound
| lie declares in favor of resumption and of re-
turn to decent money, not merely in the abstract
or IN vague and general terms, but explicitly
and specifically urging upon Congress-, sat this
session, the duty and necessity Of placing the
currency of the country upon basis common to
and recognized by the civilized world. In this
portion of his message, in principle-we do not
speak OF detalls-the Presidents views are as
sound as dollar--and gold dollar at that.