New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-17

curiosity. The promises to pay are infinitely
better than the pay; everybody takes them
"and wants more of them. Ii you are dis-
/" satisfied you had better move away" why
NAV not the citizen say his business is increasing,
and keep putting out prOmlssory notes 10 oo
il with in the same way Government doesf
We have said that this system OF finance
ia an American innovation. We do not forget
that to Mr.. Micawber, who upon giving ms
note for debt said, "Thank God, that debt
ais paid,n belongs some of the merit OF the
discovery; but it was left to American states
manshp to embody it in statutes and give it
legal recognition and authority. The debates
in. the Senate and House have brought
out nuggets of financial wisdom which
would make political economists of the
old school open their eyes with wonder. When
Senator Logan instances China as an exhib-
ton of the effect of hard money currency, and
shows that it has brought the Chinese to
washing clothes and mental service, he settles
the question for patriotic Americans who do
not want to wash clothes or be mental serV-
ants. If we would be saved that degradation,
we must put out more promises and avoid
specie. Mr.. Batter has shown cOnclusively
""
pay dollar is better than q dollar, for he
says gold has always fuctuated from the
! &" time when tho good Samaritan took COM
"passon on the wounded man, and carried
chin to a frst-class tavern in Judea, and gave
the landlord a penny, saying, | will call IN
"a day or two and pay what else is DUE
Mr.. Bogy of Missouri is willing to admit that
gold is better than paper, but no proves 10
the satisfaction of everybody who wants
"more money! that the best way to
make money Is to print it, and that
il we don't do it things will be
"prostrate" Mr.. Cameron adds the weight OF
his opinion that the idea of taking up paper
promise of a dollar with an actual dollar is an
abstraction. He says he is always hopeful,
because he believes, "talling them generally,
"men are good" and that "every man wants
"to do right !" consequently it would be
the hight of folly to take the trouble
and incur the expense of redeeming
the promises of the Government or
of taking any steps in that direction. MIR.
Cameron is q man of great wealth. and we
Judge it has been his habit IN business to
allow his debtors to renew their notes al
infnitum. Mr.. BucEner of Missouri decides
also that the theory of specie resumption is
"false and fallacious,' and that it would
"crush out the productive industries of the
Country" Mr. Farwcll of Illinois says
ga return to specie payments is not necessary
"to the successful prosecution of business"
He points to "the past decade" as "one of
"the most prosperous in our history" and
he is "content to let well enough alone"
That's the doctrine. We have issued prom
ises to pay and been prosperous. Who talks
of disturbing this condition by paying7 So
long as we can print the promises and keep
them going, we prosper and literally make
money. What folly to talk about fulGllment
of obligations. The greenbacks are good !;
everybody takes them everybody wants them
the country cries aloud for them to "move the
"crops." And whoever presents a promise OF
the Government and asks what it means is an
impertinent ass, besides being an enemy of
mankind. Notes are money, promise is per-
Torrance; let's have more currency.