, 1875-08-13
How 10 REACH PAR MONEY ON On BEFORE
IAN. I, 1879.

~ Eae Rdaor nf 1hs Chtedae 7fbunt,
caurAoo, Aug. 1.-THE United States dovorn-
mont is we'll abba to pay or fluid ita greeubaeks
or dinhonored paper, to-day but. as tho sudden
rotiacHuent Of this currency would viuloht1y af-
feet thu rolhhons Of the debtor to tho creditor
clshs, to tl,o great injury Of tho former, II is
lie lutyof tho Government to oct in such 4
Wsy thAt a gradual enhancement In tho value Of
Kreenbacka shall take place. Tbs resolution,
taeu, TO gonunle Bpaci8-payments not be-
fore Jan i. 1870, WAS no doubt tho wisest
boo1so 70 hays boen adopted; buk unfortunately,
40 oonfidupce B had III tho best OF resolutions
thk one CouCrcss tnsT pass, when another may
completely Bct them aaiie, aud thus postpone
she day Of resumption 10 anll later po1iod-
To-day The general belief H. that spccso-pny-
tnsnta Aru far distant. What IL wanted h to mako
that it1ed day. jan. l. 1879, certain and tlat
70 do al In ita powor, aud use oyozy roaou1oo 1t
"a command, to 1t least roHuulo specfo-pAyfnants
!tsolf, In al lts transactiuns, and tlcn, II indi-
vtdnAis fail to reaNt',s Il will bo no fault Of \
1ust nad honoat Government.
A nav plan, naver before proposed, aimrle
snd cfl1cacious, aud vlthAt practical, IL tharo-
fora suggested ~ almost oortain to reduce. grad
ually aua steadily, tho fold premium, until
Ereenbsoks shAA! be equal 10 gold dollars, aud
possibly become better. few vords viii slats
IT,. CongrcHs to enact
Nrst-That grosnbacks shall bo redeemed. on
detnsnd, ta a no~ 23.year, ~ per cont United
4tt day G} JanAasy 1879.
Seeosk!EI1At every gresnback presented 1t
any Bnb. Treasury shall bo stamped: "On til.
faith and pledge Of the United btatoe, this uots
to payable on dcmand In bouas bearing ~ pta.
ia T st1nx etsI q II Sn nn jan 1870 when prosecuted
1hssd-Th.t al greonbncAs sedesmed stla4 bs
~ 9aos cancetsd and destroyed.
H9 70" sAss OF bopds Ia proposed, a. u 10 =
epeelsa oi seml.repudiation. -Four aud q half
lsI eens y ae!ectca ~ tic most probable rats
.aas i1s w9n,a M command par IN 1879. Under thta
pAn; ~ ta1nso donanu foz currency to he sup
Piled uuaes tue froe-naukluR law, oE, after
speele-Fehamptiot, in such wAy ~ future les.a-
latlon may devtss. This plan IL based on ula
probability thAs, on Jan. I, la7D Or nyen bnforo
, ~ rer cent Unitod Btataa bond viii be worth
per 10 gold and consequently apocte- payments
will bo assursd, II not valued Al par, tLo iM-
cougt on REesnbAoks could b but slight aud, -
ID Eta.ioo .eyt .o.asyt aRssts-pay.nonts would bo
uAl but nevertheless auro, and 7lthonta .hack IA
tbs buBluess nod Industry at the country. T),e
REeanlseks would 4Ays ! stoady, increasi,'r
value, upon which Ill could make tkatr -. .1cu,s
H0na With almost absolute certainty Rach
mouth thsy would bsoons more valuable n tha
day OF hAal redemption approached. no mA.
tanAl ksse In Tho gold premium could takp placo.
Mntess the credit Of tho GoYornmout should bo.
come impaired from any CAUSE, It il morc
likely. ho.sver, to continually improve, nntil
even A-phT cent bouos would command par. Low
ratss Of interest would result aud Le main.
talued, because all ienaets vail bs suite TO Ks.
the!r MONEY paid back III better currency. aud
consequently will lend cheaper. We shall pays
chosp inoasy without inhaton. We shall hare
has,sse M0nsy. What more could We assl
F. It. CaAaDLxn.