The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-10-12
How are we TO Inflatet

sIow are we TO Initiate,
There has been "a good deal of wild telk
and foolish prediction about an expansion
Of the currency. as one of the consequences
90 follow the success Of the Democrats IN
Ohio. Thiss u practical question, and quite
apart from the merits of gold or paper,
N furnishing q sound and constitutional
nrrency. 1t Ia easy to cay there will be
IMITATION in certain contingency, and to
Essume that the country is threatened
vith food of irredeemable Issues, il the
candidate Of one party should triumph
sver the other, though both are standing
sppIatforms, which, stripped Of decep ion,
mean precisely the same thing.
Let us suppose Gov ALLEN reelected
10 day, what Them How are we going
90 inflateY When brought to this PLAIN
test, the answer is evasive, and swells
with barren genenhties. Even Mr..
BGHUR2, who may he regarded ~ the ablest
expounder of what may be called the
alarm theory, has signaily failed tn make
dear how his prophesles OF evil are to he
verified. IN his speech at Cincinnati, he
attempted to explain how initiation would
be brought about, and we give him the
benefit of his own words
lit has frequently been asked. how you going 90
get your additional eieeroaek. snoa Ohv't nslyi
ssere a. lvoways 20 set additional currency anoat
m the arket q By buyne gold 70 Az he bonds
sn.s er oiE in very limited messure Tor tins simple
Hason a. you rui cot new rr emo exc with the pros.
serrscste as to gold, and As the bonds are payable
sra vsin and their p"cc m Der vii In eby be-
s.~e 80 hga that t,e method OF putting out green-
seks by urchasinR bonus viii soon become very un-
abut there another way TO put onoat new issues
SssIGs9t eyona 4, revenue and tss noye
Jon know what tn means lmagine - Congr ~ max
sesiiHs Out. putting 40 t. spea a. much money as
bos,hl aud adopting systematie e1tIavlsance IN ex-
pndiiur as necessary measure OF hnanci policy,
y tne md q m,kine and Keep ne volume OF cur
~ there viii he among the thieves tnd rascals, who
INK hy can S,R not SnS Ses s ~. 6n, rcsnSGtSy
or the two methods thus presented by
Mr. SCnuRz, he voluntarily abandons the
FIRST as impractcable, ms he well might do,
when the Secretary of the Treasury is
now every month, and has been in
the practice for years past of selling
gold for greenbacks TO meet the cur
rent expenses, and of exchanging bonds
ut one rate of interest for those at another
rate. lie omitted to state, too, because It
would destroy his argument, that as the
volume of greenbacks If explicitly limited,
there could be no imitation by the purchase
Of gold or of bonds as the law now stands.
That point being disposed of, he falls
back ON the second proposition OF carry
ing the expenses of the Government be-
yond its revenue" and this, he says. 81
have no doubt win be resorted to IA the
"A
pretend that this is anything more than
mere assumption, or a bold speculation a.
70 future possibilities. II it should fail
then his whole theory tumbles 10 the
ground like house Of cards for IL has no
prop to hold II up. Even If well-fDunded,
d. would require n radical change in the
existing law to authorize the Treasury to
meet "expenses of the Government be-
yOnd its revenue"
Let MS test this suggestion practically.
The great dividing line between the two
parhes to-day IL eXtIaVagance on the one
side and retrenchment on the other. Econ
omy in the expenditures of the Govern
Inent il TO be one of the chief issues in
the election of next year. The country
knows what the Republicans have done
power, and what might be expected of
them should Grantism again prevail. SO
much il certain.
On the other hand, the Democrats are
distinctly pledged to cut of the eXtrava-
Iance, which has not only imposed enoT-
nous burdens on the people, but led TO
corruption, fraud, and decentralization
throughout the public service. The pres
snt House of Representatives was chosen
mainly upon that question, and 1t will be
held strictly to the redemption Of every
pledge for retrenchment. 1t IL entitled to
= fair trial end hearing before Judgment is
pronounced.
We expect TO see the army reduced 10
1oOOO men; the navy converted into an arm
Of defence, instead Of being as it now IL, a
nursery OF idle pensioners ana a collection
Of pleasure yachts; the Indian appropria-
lions honestly applied and red iced one
hall; subsidies stopped; contracts over
hauled; jobbery smashed; and the whole
EOtten system purged OF its impurities.
FORTY or nifty millions a year may he
saved the bulk OF which is now stolen and
divided.
III the Democratic House does its duty in
these respects and sets this example of
honesty and frugality. AS we believe il
will do, then the apprehensions of Mr..
SEIZURE will vanish into the air, and he
Will doubtless be candid enough 10 con-
less his error Of judgment and join the only
party OF reform that now offers place to
independent and upright thinkers. That
party may not DO in all things what he