New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-31
DRIFT or POLITICAL DISC USSIOk.
NEW PLAN FOR SPECIE RESUMPTION.

A plan for the resumption of specie pay
ments has been laid before the Banking aud currency
Committee OF Congress- which is novel and commands
attention Its principal features The Secretary Is to
stamp 40 many millions OF greenbacSs every month
with the promise TO redeem at par IN goid those notes
In two years the notes stamped 10 be again put IN
circulation the STAMPING to continue monthly until all
REDEEM pion Congress TO designate the monthly num-
Der When the first stamped falls due their Raym ,ba
value greenbacks thinks the proposer OF the plan
or a plans ,ST m"st eabe sensible and
We say honest, because 1t officially aud egDly guaran
also home n Oh the same hard money basis on which
creditors loaned their money to the country.
DEMOCRATS RALLIED FOR NRLATIoN'
From Cincinnati Enquirer tDtn.D
The subject of the increase of currency was
the principal topic In Congress on Monday There were
good signs both IN the Senate and In the House In tue
former body Mr.. Wright, the new republican Senator
from Iowa. made capital speech full of good points
Take al IN s tne subject OF in
this Winter As partisans rather mortified that
the sSens so% RspuScas to lead off 80 hand
some shall be greatly mistaken II tine a
account II they do not there viii DO sectional night
inaugurated, IN which they will be outvoted by tue
ing sections Of the country Will to the contrac
ton oppression Of the East The word Is being passed
along the line No more pennsylvania ana massacnu'
eetts tariffs or Wall street currenciesi
BLINDNESS OF THE INYLAIIoNIsTs.
Prom Detroit Free Prsss tDep.l
II seems strange that the men who make
Initiation propositions do not see that they are simply
TO add the national debt the current and
foaripg which ought to be quidated from
month month"; i tho na0ua credit Is worth preserv
ing In the OF individual whose income failed
10 meet peuses. OF these niationiss would
dream suggesting that there any out Of the
expepdture. And yet In the case OF the Government
which differs not at all from that Of individual, they
profess TO found third way, which 10 to run IN
debt for advance sufficient ~ wipe out the old
and trust ~ luck for ability TO meet it,
WHERE WILL INITIATION sToPi
From TAS CAIoaoo Tribune (Iad.D
Will Mr.. Wright, or Mr.. Morton, OF Gen.
Logan tell whether there Is place short Of
which they think II would be desirable to stop the de-
the currency Or do they fancy the
successive increments would not depreciation
In In possible that these honorable gentlemen making
speeches order TO persuade the simpetons who
DC fresh issue OF deprecated that
they Wright. Morton, and Logsu) great fools
ciass 10 charitable to place this construction upon
their utterances for they asked TO put their
ideas In form Of al act OF Congress- and be solely
and exclusively responsible for It's consequences. they
would not dare W do IT,
FOLLY OF MORE CURRENCY.
Prom ST. Losts ReppbhoaH (IMLl
IL IA the property OF all deprecated money to
Ain easily out OF hands Of drift
III great ctes and the cheaper the money
IA coupared with gold, the readily II takes this
Tho fact that greenDacks and national bank
notes are 10 cent below tho value OF gold
Tina peOpe ~ part with them easily. II adopt sena-
Tor Mortons scheme and make them 10 per cent below
the value gold, tho only ultimate result will be that
the pcepe viii spend them still iavshy and thus
produce y worse deArth Of money than that now com
u la of.