New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-08-08
LETTERS FROM THE PEOPLE.
REsUMprloNIsTs NOT DEFEATED.


THE TEMPORARY REPuLsE IN CoNGREss-A DECISION
THAT REsUMPrIoNIsrs MUST AcCEPT-rHE FEEL
ING OF THE PEOPLE
TO ne Edttor OF The tribune
SIR: A certain one-armed General, after the
battle OF fredericksburg said the OF his divs
ion' well boys here again back on the old
camping-g ground which we hoped never 10 have seen
until we passed II on way back home with the war
ended But we have only been repulsed; are not
defeated yet" SO those who have labored to prevent
an unlimited expansion Of the currency and for such
legislation AS would effect resumption, comfort
each other with the words: We have only been
repuised but not defeated We have gained this much
ground by the discussion which has been going on so
actively OF late The whole people have become famil
lar with the financial affairs OF the nation; they all
see that there should be some limit to the
amount Of currency; all agree that it should
be kept at as small a volume as will accommodate
the business OF the country; all agree upon the vital
necessity OF finally getting into shape that who
ever demands the gold in exchange for greenback
bond can have 1t. We only differ upon the ways and
means and time of resumption, aud as to the proper
amount OF currency necessary desirable TO be kept
aoat just at the present time We decided last Spring
that We will not reduce the volume OF currency;
that it is than is needed for the convenience OF
the people. Since that time the President has tried to
have that decision reversed and has failed to change IT,
so we may well make up minds that the volume
OF currency will be less than it is and
settle down to the work OF filing the Treasury and the
vaults OF the National banks with sum OF gold large
enough TO back up the whole OF the present amount OF
both issues The first step Ia to I'LL the Treasury OF the
United States with gold to back up the greenbacks.
Then we might as soon s0O000,0O0 mad accumulated
in the Treasury, begin to nil up the vaults Of the Ma
tiona banks from the Treasury by exchanging with
gold for the bonds which they have deposited
with the Treasurer to their circulation requr
ing them keep such gold on hand 10 their vaults as
hacker to their own bills Even II this exchange should
go on at the rate OF per month TO each bank
think resumption would be an accomplished lact as
majority OF the business men Of the country
desire 1t and could get ready for 1t.
Probably every one agrees that the first step
is to ill up the Treasury with gold but there are INQUEST
by borrowing by heavier duties upon Imported GOODS
10y raising internal taxation TO such point as 10 pro-
so as TO leave the gold winch duties bring into the Treas
to accumulate untouched except for payment OF IN
would combine two OF them, and some wOuid 20 WIN
the President try the whole three methods at once
must admit that whstauding the universal assent
given idea that all debts must be pald III gou
TO the utmost farthing sl when methods OF arriving
resumption proposed the majority OF the people
do not show any great INCLINATION to subject themselves
to any large amount OF inconvenience or sacrince IN
order bring IL about quickly Great applause was
given to Gen Grant when he issued his memorandum
Of financial views SO much III opposition 10 the prin
cpes OF bill lie had just vetoed, ana also 70 the
Que II was well known Congress was liking
up for his signature, but l have not heard heard
with pc itions and letters from the people their
resenauves, urging them to give ehect TO tne rsss
plause not much that the people were ANXIOUS
ton for the man VITO dared to throw his ideas In the
face OF opposing Congress 80 squarey ana tnat le
Tr% Ra 81 S Te signed hd an b
from disappointment at seeing the nght eneu 50
quickly and tanely, than from any deep-seafed Wish
tnat tie President should time nterpose That
relic of the days OF kings, his veto power 10 prevent
the carrying out of what Congress had after due con.
sderat0n and determined as best for
the good the country Even the Legal Tender hau
been repealed should not have been surprised II the
people had soon found out ways to get along without
paying any more attention TO such legislation IMAM IL
paid to laws in different states regulating rates Vi
II tie imitation measure which Congress passed,
ness to moving brskly by the time the next .1h,
gress assemblies the people NAV then ee ape 10
up the burdens OF extra taxrton ana an lhcrease .,
duties so that the Treasury may be nlled up without
resort 10 borrowing. But II times continue as uu as at
present and as large a crop Of deiauers and lDconl.
peenIs turn up in the pubc service to take Toll out OF
every dollar its way INTO ahu OUT Oh tue htasuy
during the coming six months there has been during
the past sx the people viii feel ready to take up
tine burden and shall have to resume, II We
sy at as the ny d wSsn he his
Thank Cod that debt is paid" Tue people VIII never
pose carrying the Presidents plan OF dong away
with bills OF Less denomination lnn sao a,v Gv ~
submitting to positive Co.. an emergencv
mans life be the better pared Tor an emergency
one ntetime Those countries where bulls not less
than SO circulate their financial dnchites rs wen
a ana Tor some icdsOus anu mag 10
one OF the-ihey do seem 10 10 countries Tor poor
man 10 get ahead IN very fact And SURPRISING we hau
had that system in vogue when the Reoeliioh oiohe
ont and surprising we could then have got
along without issuing greenpacks, would not tH a
south have been equally well supplied WIN
coin Could they have got along without issu
ing Confederate scrip. the utter worthessness Oh WHICH,
wneu comparcd with grcenbacks, every one KNOWS
was Gen Grants powerful ally during TIE Closing
scenes OF the wari Aud VINO knows how different aI
ending the contest might have mad II hcy had stareu
Oh such "A gold basis as they would nave hau. the
erepnbacks and the national currency, ana even lne
suit the peope tue best OF any currency
we ever ave had; and all want Is To Know ta te
gold is in the vaults OF the and Treasury To pdcK
49, ~ . ,,, ' l.. +. BlCkNELL~
West Cummington, Mass, July rs, 1874
PLANS FOR PRESIDENTIAL ELECTIONS.
THE OBJECTIONS TO SENATOR MOTIONS SCHEME
THAT OF MIR. DoBBs OF ENGLAND EXPLAINED
AND ADVOCATED.