The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-12-29
THE CURRENCY QUESTION.
A Movement Of the Politicians and not Of the
Psopls-Not Legitimate Political Question
Professor Newcomb's Financial Naviga-
tion-The Country Not Bankrupt.

A Movement Of the Politicians and not Of the
Psopls-Not Legitimate Political Question
Professor Newcomh's Financial Naviga-
tion-The Country Not Bankrupt. 10 I
concluded from Tuesdays GLoBR (
The politicians and newspapers are urg-
ing US to vote tor specie payments, as If
voting for it would procure 1t. After
lapse Of dozen years It has been discov-
cred that we have been, during those
years, using worthless money, and that to
obtain good money We have only TO vote
for It. It is not made quite clear how our
voting for 1t is to procure 1t, but that is a
part OF the programme which the politi-
clans do not trouble themselves with. II
voting for gold will produce 1t 1t certainly
is the easiest means of raising funds yet
discovered, and we suggest ito adoption for
paying the. national debt. ~,
We do not say that the paper currency
can or can not be redeemed in gold. That
is not our object in writing this. What we
do cay is this No man has yet pointed out
way TO- tue people in which it can be
done, or the benefit to accrue from
DODuluI VOhO VI buC 4uCbtlou, uOL C0u tuo
man who is ultimately to solve this fnan-
cial question now be named. Hence we
say political excitement and division,
by parties, is not only premature and I'M
called for, but it is unwise and impolitic.
For nothing can tend more surely to de-
preciate the currency than to make it
political ISSUE. No information would be
more heartily welcomed and gratefully re-
ceived by the American people at this con-
juncturc than that which would point out
way in which to redeem our vast volume
OF paper In gold, but II is scarcely the part
of wisdom to expect 1t. Every day the
newspapers treat US to something like the
following ;l''Mr. 90 and-so has been inter-
viewed and found to be sound on the cur
rency question )" ''it was feared that Mr..
so-an-so was imbued with the paper money
heresy ;".the chairmen of such and such
committees are strictly hard money men,"
and 90 on. Well, what il they are There
Is not man IN the country who possesses
sense enough to distinguish between gold
dollar and paper dollar but would be glad
to know that the nation has gold enough to
redeem its paper, and there Is not a well
informed man in the country who does not
know there il not gold enough in the civil.
lied world TO do 1t. And yet we.sre given
u uuucIbthuu tuub0 Wo tOU6 IOf specie
payment and gold basis and redemption
and the like cant, these will follow. Well,
suppose every freeman in the land should
vote for specie payments Suppose we
assemble In town meetings all through the
country and vote that on Q certain day re-
sumption shall take placer % b, ~,
Congress has already set the example,
and with what prospects Of success 70
have already seen. The question u not,
what do the people want, but how are
they to obtain II. To tell us what is de-
sirable, to expatiate on the beauties OF d
gold basis, TO state or mistate financial his
tory, to say that q nations currency must
rest on coin and not on credit, to say that
the exchanging of one form Of paper for
another-as IL proposed by the secretary Of
the treasurg-is placing our currency. on
gold basis, is harmless information, but
1t hardly meets the present emergency.
Devoid of any suggestion ~ TO how we are
TO attain to al or any Of these desirable
ends 1t 10 worthless and mockery. j..
This hue and cry about the currency y,