, 1874-04-29

Tho inaationiata have discovered IN oracle
a financial prophet after thoir own heart, In the
person Of one Honorable Isaac Buchanan, d
had to hunt the by-patls and out-of-the-way
places Of America. Their efforts are at length
crowned with succeas and in yillago in Canada
a socr, d'sposca to utter prophecies, haa como
forth. The inhationists hail him with delight,
recognize him as one OF themselves,
bis ignorance of tho meaning OF money.
Now, with Mr. Isaao buchanan, porsonuy, we
have no particular fault to lind. Ho iB un-
doubtedly t1nanoior Of & kind, and We accept it
as fact that he Is "vcteran." Our only ro-
grst ia that age has not taught him wisdom or
the proprioty Of keeping his financial ignorance
to himself.
Mr. Buchanan loves the United States. Ho is
IN old friend Of some 'shoats OF Americana"
He IL intensely anxious for the SUCCESS Of our
institutions; and, because he is 80 fond of these
States and 80 devoted friend OF these "hosts,"
aud 80 extremely anxious for the succesB OF our
institutions, he breads tho shining gold, trembles
at tile idea Of contraction OF tho currency, and
dies almost when he hcara tho words
"reaumption" Or "apecio payments" Mono
tary contraction he Agurea to himeetf
q monster Of "pestiforouB BREATH" blasting
the industry and commerce Of the country. Tho
veteran fluauclar saya ho could, II time per-
mitted, write ut any length on tho matter. We
congratulate the public on the fact that tho gen.
tleman is prossed for time. It will not be uun-
teresting to give condensed statement OF Mr..
nuchanan's theory Of American finance. Those
aro some Of his principles:
First-Monoy should be q thing Of or be-
longing to country, not to the world.
Second--An exportab1o commodity 1s not fitted
to bo money.
Third-Tho country should prevent gold from
FILLING below 115.
Fourth-pancs arc cauaod by the Richardson's
| and tho Grants.
These arc tho chief poarls that sparkle in the
brilliant composition to which one OF tue ro-
| pudiation journals gives go much Of its lpvalu-
! able space. Let us look at them separately.
| We do not intend of course, to rofute such non-
| sonso. They scarcely Gull for q refutation but
If they do, tho least that can bo given thom IL
tho 1'eductto ad a1surdunl. And, first, monoy
aLould 10 thug belonging to country
and not to tho world. Az Gorn9an motaphysi'
clan would oxprosH 1t, monoy should be nation.
thing, not o world-thing; that IL, We suppose,
each country should Anyo It's own currency
separate and distinct from that Of eyory other
Thih Is to q great extent tho case in tho worlt
at the present time. But then 1t Ia q matter
over which a1l great fnanclars md statesmen
tho "yetosan Canadian" excepted, lamont
Whom tho world shall have but ono system d
woghts aud measurea. and one universal cutron
oy shall bc recognized everywhere, IT vii
hayo taken groat atop In tho roat
Of civilization. And th!s is tho goa
which noarly al! the great Ananolors Of Franco
Austria. Switzerland. -dcrmany, aud A,aoric
;, hopo we shall some tins roach. France, Italy
Belgium. md Switzerland hayo ono monetar
systom alroady, We must therefore consider Mr
Duohauan'a views aB minority report Of worl
committee GU finance. Tho soloutiiio universe
on tue other side Of the question,
Again, money should not bo an e1portable com
modify, aud. Of course, any commodity not ss