The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-12-28

The currency question, in its present
form at least, is not legi Innate political
question, nor one which can be settled and
disposed of by popular vote. 1t comes
no more within the domain of politics than
does the management of any other special
branch OF the governmental business. 1t
is question OF finance, and its solution re-
quires the genius Of fnancier and not
that OF politician. 1t Ia question that
comes strictly within the province and
management of congress and the treasury
department and to refer II to the masses
would be as absurd as to refer nice legal
question to hundred or million wood
choppers. If the country has too much
paper money and too little gold, IL con-
traction or initiation is necessary or desir-
able, surely congress and the treasury de-
partment are beet situated to know the
fact and to provide proper remedy. 1t
would indeed be strange spectacle to sec
the people undertake to manage the
nations finances or instruct the treasury
department how to manage them. And
yet this is what is proposed for 1t cannot
be claimed that the wish of the people is
not understood by congress and the treas
ury department, 80 far as they have any
wish respecting the currency, or know,
themselves, what they want. In fact, what
the people actually do want is that congress
shall devise and arrange some system of
currency which they can depend upou, be
1t paper or gold. The insinuation which is
implied by submitting the question to the
people, that congress desires an expression
of their wish and is postponiDg action or
the subject to obtain it, is sham, piece
of political trickery. 1t is too copsiderate
of the public opinion, and manifestation
| of accountability to constituencies 30 much
at variance with all precedent as to beget
| distrust.
Were the people consulted at the time of
tho Inauguration of the paper system Did
anybody in congress or out OF congress
then think 1t necessary that the people
should instruct Mr.. Chase in the matter OF
mands? Did the people have anything to
say on the subject of suspension when at
that time our banks closed their doors ?
Has 1t ever been the custom in this, or in
any country, for the people at large to in
| terfere with the immediate management of
the nations finances? Have the people
now demanded one system or the other OF
currency? Who started this agitation of
the question? Certainly not the people,
but the politicians, and the evident purpose
Of the politicians is 10 use the people in
carrying 1t on until they shall have accom-
plished an Interior and very different pur-
pose from that of improving the country 3
currency. No better proof that this agita-
ton at this time Is but a piece of political
chicanery seems necessary than the fact OF
the entire absence Of any financial policy
of any plan of resump,ion-for adoption or
rejection by the people. We might reason
ably expect that with respect to great and
vital question like this, the opinions and
ideas of our ablest men would have crys-
people, and of which they could form some
never has been a time when "a policy
has been more wanted than now. 1t is o
notable fact that not one of the speeches OF
letters or editorials on the currency ques.
ton has contained plan of resumption
which has stood the test of criticism and
every day brings forth new plan OF
scheme.
Many of the ablest men in the country
have labored in vain to solve this financial
problem, and as yet there is not well con.
sidered and matured plan Of resumption
before the country-one on which score
Of men are agreed. How then can the
masses be supposed TO understand it, OF
know how to vote In fact, what is the
question they are asked to vote on ? Even
congress itself seems to be as much sat
seq" on the subject as are the people at
large, and to be CROPPING among the rub
bish Of exploded theories and systems of
an era which has passed. Congress, at a
recent session passed an act fixing the time
of redemption of the greenbacks in 1879.
At the time of its passage it was proposed
by some members to fix the time in 1876
instead of 1879. We have got so near
1876 that we can judge with tolerable &C
curacy of the extent to which redemption
would have gone had that date been fixed
upon and when 1879 comes around we
shall probably be in about as good condi-
ton to redeem as we should have been IN
1876, and in no better. In fact, the scheme
of redeeming in 1879 now seems to be grow
ing unpopular in congress. The secretary
of the treasury, IN his late report, has
pointed out the fallacv of attempting re-
duction In gold in 1870, and has recon-
mended, in lieu thereof, the issuing of
bonds in exchange for greenbacks. This,
then, is the extent TO which that scheme OF
redeemipg in gold has succeeded. And
this, we suppose, is what all the scheme
of redeeming in gold will ultimately cul'
inmate in.
To be Continued.