The Weekly Kansas chief. [volume] (Troy, Kan.) 1872-1918, 1874-06-25
To the Editor Of the Tribune:


To the Editor Of the Tribune:
SIR-The first session of the present Congress
approaches the day of adjournment, and yet its
hrst duty, the duty paramount to all Others, is
no nearer being accumulated than it was when
the session opened. Indeed the question of re-
Stunning sperie payments, instead of being ad-
vanced has been retarded. At the opening, not
merely high hopes, but confident belief was
universally cherished. These hopes and that be-
lief have been disappointed. And yet many will
not, can not, reiInquish the idea that Congress
viii, ere the session Closes discharge a duty
which its members not fail to regard as in
dispensable TO the honor of the country and the
prosperity of the people. Other governments,
Ike our own, IN prosecuting expensive wars have
Oeen compelled to suspend specie payments; but
on the restoration of peace those governments,
Ike our own, in obedience to the injunction of
duty and honor, have made it their first business
TO provide at as early day practicable for
the payment of their debts in coin, and thus re-
storing their varied industries TO the prosperous
condition from which they had fallen.
Congress could have been aided essentially in
the discharge Ofifs financial duties by q capable
Secretary of the Treasury. The too long delayed
but finally auspiciOus change in the head of that
department many even yet encourage and stimu-
late Congress. Or oSe thing members may be
assured, and that is, if they adjourn leaving the
country in the wretched financial condition they
fonnd 1t, the places which know them now will
be hereafter unknown to most of them forever.
So strong will be the popular feeling against Il
delinquent Congress that the good will be con-
founded with the bad.
The recent publication of the financial views
of the President designed to explain and fortify
his veto message-a message rejecting the high
est credit upon his wisdom and courage-is in
respect at fauif, and will, fear, weaken the
chances of any wholesome legislation. The
President has fallen into the once popular delu-
sion relating to small hank notes. The attempt
tn exclude from circulation notes under the de-
nomination of s. was tried in this State under
circumstances favorable to the success of the
experiment could possibly exist. Relying
then, as now, upon the example of England aud
France, the federal and State Democratic adj
mnistrations demanded a specie currency. Our
Legislature passed law prohibiting the issue by
Our State hanks of any note under the denOmi-
nation of five dollars. The result proved not
only incOnvenient and unsatisfactory to every
business interest, but accomplished the signal
overthrow of the Democratic party in this State
in lS;Sa, and that of the Union in 1870. What
the American people require and what will best
promote their convenience is a mixed currency,
consisting of coin and paper, the latter properly
restricted and regulated, and convertible at all
times aud places ints gold and silver. Small
bills (nOt fractionaD are positive convenience,
while the substitution fnr them of gold and sill
would prove positive an Inconvenience. /
will not stop to show why, in this respect, our
circumstances and conditions place the question
of small bills upon financial basis differing
from those which exist in England and France.
But | venture to say that of so 900 Americans
travelling in Europe, 90 out of every 100 would
prefer notes of the value of 81, 50, S. and $40 of
the Bank of England TO the gold aud silver with
which they burdened. IT, either by con-
gressiOnal OF legislative action, the circulation
of small notes now prohibited the border
States from Maine to Wisconsin would be inunda-
ted with the small bills of Canadian banks.
The welcome from its constituencies which
awaits Congress that proves itself incapable of
dealing with a national question vitaly aud di-
rectly concerning the commercial, agricultural,
manufacturing and laboring prosperity and well
fare of the people and country, will not be calcu-
lated to encourage imbeeility in future Repre-
sentatives. I. W.
NEW YORK, June G, 1875.