New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-04-10

dehan 3ted thSt such henlaree
ment may even stimulate production
snd- % improve that ability. The
Western papers contend that they
have as much character and prosperity al
stake as New York, and are as we'll capa-
BILE Of conducting the policy of the Union
as their Eastern tutors. We side with the
West in this controversy. The nickname
OF 'infiationist" has no terror. It is in
tended as that Of "bank bought" and
rag currency" was in earlier times, to
prejudice the people against fair judy
ment' whenever a man or party so far
loses confidence in the strength of argu-
| ment as to resort to nicknames and bill
hngsgate, it is good proof of weakness
and defeat.
That this square fight is sectional be-
tween people who need money on the
one hand, and capital interest which has
bought public securities at low rate, and
wishes to buy foreign exchange with cheap
specie on the other hand, is plain from the
Western advocacy of currency regula-
tons without regard to party. The hard
money Democracy of Illinois advocates
more currency, as the free trade Democ-
racy of Connecticut asks for higher
tariff.
1t is time the East learned that the
men who make the crops and fight the
wars of the Union claim an equal capacity
to conduct its affairs When it is recol-
lected that these Western people are not
barbarians, but that they have built cities
and railroads, and covered extended re-
gions with schools, colleges, churches,
farms and factories, it is to be hoped our
Eastern brethren will not continue to de- |
nounce them as knaves who wish to dis
parage the national reputation abroad, or
''barbarlans" who come like the Huns to
ravage the monuments of superior civil
ization.
From the controversy as it stands, we
are satisfied that in dignity and ability
the Western papers are abundantly able
TO maintain the monetary policy which
majority of the peoples representatives
have enacted.
We can not well see how any journal in
he Southwest should take the Wall street
'ide in this controversy, but as there is no
accounting for the diversity of the human
or of the human interests, we
efrain from comment.
Under the act of 1870 it is known that
be distribution Of currency was UNEQUAL
nd that Louisiana failed to receive any
ppreciable benefit from the increased
'sue thereby authorized. It is known
nat our planters, laborers, merchants and t
ankers deplore the Insult ciency of circu-
ting capital. Why any Southern press
aould object to the possible enlargement 9
this resource we can not conjecture. p
would be patriotic sacrifice of local
ants to national reputation very encou- d
'glng to behold in certain quarters: ia
must not be overlooked that gold,
e indicator Of currency value, has n
1t advanced in relative value in conse- L
lence Of the recent increase of currency. al
February last gold ruled at 112l. 1t "
now l1Si, or one point difference. This hi
'es not equal the advance occasioned by ye
e receipt of a single telegram from Cuba ~
me months since
We dismiss the fears of Wall street as
10 and the imputations Of its organs as
'ultlng to the great majority mass of -
American people, who have ordered
addition of ten per cent to the cur
ICY of the Union.