New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-21

rag money men are 10 ouT V"h ''V"'''""'
perceptions and sense of honesty and honor.
But Slavery was an existing fact at the time
of the adoption Of the Constitution, just as
paper money il now The Statesmen and poll
ticans of that time had TO treat it, or at least
thought they must treat il, with great con-
sidcration and much tenderness. Politicians
and people went on for years pursuing tlmld
policy with regard TO il. II was the bfte NOR
of all parties. The political history OF large
part of the first century of the Republic is fuli
Of the evasions and lodges of the
parties which tiptoed around it and
never dared speak out boldly about It,
or meet it fairly and honestly in
the face. How the delusiye doctrines OF the
Shareholders grew and gained strength, and
how other political hercses gradually grew out
of them, until they Oversladowed the country
and plunged it into bloody war, we remember
very freshly. a timid and time-servmg pol
icy was paid for at a fearful cost. Ana IL
was simply because politicians recognized
Slavery as an existing fact, just as they now
do paper money, and instead of giving it heroic
treatment they talked about the rights OF prop
erty and the impTacticability OF dong anything
toward its extinction, just as now they TAX
about the necessities of business and the de-
nands of trade whenever there is any sug-
gestion of contraction of the currency or OF the
necessity for resumption. We had an expert
encc of almost hundred years with Slavery !;
we have only just begun with an irredeemaole
currency; but so far, as it seems to us, our
treatment of the currency question has fairly
commenced running on all fours with the fatal
| p,ism nj
and parties on the subject of Slavery.
We are quite well aware that the sug-
gostion of historic parallel in these two cases
will be received with smile of incredullty by
many intelligent persons who are content TO
look at the hopeful side of things, and trust
the ultimate sense of honesty and honor OF
the people. Just such men, fifty or scventy-hve
years ago, would have lifted their eyebrows
with something like contempt III Their
incredulousness at any fcrecasting OF the 1u-
tuye which contained thousandth part OF
the sorrow and sacrifice and pain it should cost
the nation some time to be rid OF Slavery.
Nobody was saying then-at least no party was
saying" Slavery is wrong and must he aboi-
"ishcd." They puttored with it and went
around it, So now are fast approaching
period when no party will dare say briefly and
boldly, Rag money is continual cheat-we
"mW have honest currency State Convcn-
tons of both parties have within the past
three years got in way of fooing with II and
treating il with ifs and butts, and acting
AS though they were afraid of it: afraid OF
losing the votes of a parcel OF noisy fellows
who, instead of intellectual processes have in
stincts and very dishonest instincts at that.
That is the way we began to treat Slavery,
and il ended in war. Give the politicians
their way with the currency question, and
their treatment will end in bankruptcy and
repudiation The parallel is perfect. The
fact of a dishOnOred currency can no more
be kept in the background Of our present
politics than the question Of Slavery coId IN
the era which has closed. 1t must he always
pressing to the front, and it will not down at
any politicians bidding. Until it is settled and
disposed of absolutely, not by any piece OF
legislation that merely fixes the term for re-
sumption and provides the process and
methods, but by the actual fact of resump-
ton, we shall be in danger from the catei-
wauing of cheap money infationists and the
timidty of politicians and demagogucs. who
don't want to take ny their notes and pay their
debts because it will injure business and ham
per trade.