New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-10

Gre nLaotsauo a. currency 80 600 GOO
Fiv. per cent ieea.-;e ateTs ----.- 8i-,Hn"t0
Three Ie &C. I c. ie.'os Of lndV1tedhe'a or,'o00
seventh rty irsu-y :. ;'s' 90
Comp ANA 4lltiNst 4I A'''"Nf">O
Total - .........s 81. 9l.O 0OGOO
These ar the lures Of Gen Ewing. Q. III tiles Items,
tho frs. two alone viz: creenbacSs fractional ercncy
and .atc and National bank notes were yer considered
AZ anv var " currency OF the country, aInoHne,
t. sos JO0C00 80 Tie ycume OF the cureEry at nat
time The other items Interest paying loans when
were by common consent Of all parties before Gen.
Grants Administration commenced llh1cr III fN-
" n5 Ca ,SSed o he no1,s the t pcr
Treasury notes, ~ the compound interest notes q"
Tie Tie 3, 81 tH ' r.t or t Scv we're io to he
fmacd rs soon a. prlcrcahle the permanent mtf,i-
pay IL ms is, ~, d 'e aa ~ - io .' f 49, Inns
OF the Government. been late discovery foar We
shan have 10 ssciIe ii 10 Tie eiseacies OF The Demo
cratic platform.
TIT CURRENCY N 1863.
Gen Cary makes III" volume OF currency in 1865 STU
greater vi .hout explanatory figures, his minimum in
1865 is $50 100000 As one reads Gen. Carys est
mat OF the currency S65 and his enla ged estimates
81 tic increased demands business now, the query ia
forced upon us whether National dCbt is large
enough 70 supply tie amount of currency which the
Generals system requires, I'D whether the 0fe~Se OF
the REPUBLICAN Administration after AL has not con-
sted ia rayn Of much of 1t. Ii the mociats ut
into mower and raise tne volume OF currency equal
their IDEAS Of the wants OF rdc they VIII stop
reducing The debt 10 avoid contraction
states amount OF cUTency az existed IN Ae
sIst ~ October ls65 was as follows, w
Sa -, bank mo- s.....-............ Is. looolo 90
Fraclr nal currency = lot" 20
Staic D-Ilh notes O"'"'0'9"o 20
Making total Of ................ SO. 100000 20
agreos sa ~ s sTSgs ND , OF, t err &
paying oali-atlons mentioned This total OF Vi-
0O0 currency me- r has been reduced from tAa' day
to tbs l,rt AS been scmevlat increased
NJ. Me(uliuCn "A secretary Oh the Ifcasuri, actlIT
under Tie al OF Congress Of April -, s6f. i'd u se
VI
TIE currency IN the meantime had been increased aiAc
h. az FER B1- the limit Of the currency GXed
snbsoau M legislation AT S76OOOOOOO. as follows. VIZ
GfeenbacAs amer McCa1ocbs WI .%ai o. ~, 900 90
creased by subsequent legislation {" S3o+O3V rae
tiona Currency, r3O uVU,VOO .lAAhs "a al oo.yVVVo
TIC nit oI SJOO0Oo0V n fraction! currency lite 400
bcrr ieached in the actual issues and tne BANK cir.
quite reached rs hnit when '-c iinit u.s. l.
Nls ~ called ~ -ae "f, ca Sn oc IN, Of & "a io
600 nich mai teen Wl.hdIawn by McC"'ioch De.olc
1865. Was ressed ~ SECRETARY Richardson IL Inc e
Tie cnrency. therefore on the l7h OF June when this
res","'!"H y" 80 o. md ,ey,r b.. been 80 Ana s
il ti grinding contraction" Oh the currency winch
farms the Colestoue OF the democratic p. .O.l
aud OF speeches O. tie dsis isAed oIAio4s Who nave
spoien III support OF II.
Gov Alien says: When you do come to specie pay
mon. what do you me "a ~ that Do you mean tad
All existing debts Of the country thousands 0f millions "a
them, AL contracted upon basS uePlecaloq hi't'H
ncns TIE dollar 10 be lad on certain dJ - g
spcce-bearng standard II !ol mean int yon sinlS
NJ inpUssiihy, come men specie pr, ineus MA!
TIC truth comes fan and siAi MO ny b,n, all VIII
II II IL buFTiS me- Inc ftSuuilti VI SiNVt lN
menss by retrospective act shat embraces al EXISTING
onu4cIs would ue IN outrage III lh-ny ana al @Dso-
Tho question suge itself how or when there ever
On b, resumption on that hypothesis. TAe descent
taae ic slender notes for Old debts a. Wen rs new.
That j. sotled Aow~when II Is prOOsed to return, and
In. Coy. fiutnt is ready 70 make good it, PROMISE
h. ...i nter notes Gov Alien saws that the debit.
sba! " released much OF the deot 1iay be
Go, eminent provided for It's payment
RESULTS OF IMITATION.
spnpOse then the Democratic plan should De
adopted of issuing greenbaeks. the depreciation
would increase. Debts would continue be contracted
under the well under the Old ereenbaeks and
By the Governors rule the release or cancellation Will
has to extend 10 and more Of the debt. have
not used The word reputation. But ask, when on this
plan is payment to be madei OF one t. ing we may
all BE- wei assured, not certain that wafer Wi
run down stream than that, if you issue green
backs and enlarge the Volume Of the currency without
providing for its payment 1t will go on deQreca'.ne.
The Governor cannot intend it, bat the logical result
OF MS speech is inevitable reputation. There is nehe
mont nor RESUMPTION IA H. 1Aeie 20 No oA'ico 400
payment a. resumption ever
Again if the Governor shah look back upon The history
Of greenDacA currency nc Vii Be supplied 'i.''
srs NE uG ndt for the first time on the eve
Of an election, winch had never Disturbed mLl
IN any Of the previous much greater ck"I-es ~ S"e
standard Of value by ne appreciation ~ G1eenht,h-'
Tncy nave stood sometimes Lan 80 per cent below
te par oil gold, and men have al tie uht 0onc OJhls
and contracted debts aud the grecnbacks have IN tie
mean time appreciated until they nave risen wthn ID
Per cent par NhOeyer heard before Oh mailing ina
debt or ground for a revolution BESIDES, the Gov
eru0r that these old ETvcuOcks came mo nens
ulael pie0gc that they should be pad IN g'id al Lac
earrsI icr0J: and every citizen is charCcGbe With 10
tiee LAT currency IN liable - tue supposed cAi'e
Boil parties contracted with full notice OF tat cc.h
geney and when 10 happens neither OF item can co"-
plain, hope 10 eyaoe LIS LaDll1y 10 pay Al lawful
Tier, is one point think may fairly make on our
Democratic friends. They ITO not hse 10 hear tic "0i
TeRrdation nor Te 90 s 20 If ~ Sg a VOID Wien
they roll under their tongue ~ sweet ana precOs
nCrse When IN or eXirtil4ly Nohsiesa Vas ayod 10
the Democrats Oiqohr0 Inc tfo"
man reasons. cnic 81 which mat there musi IL
ey.taDly be contraction Aer IL. bai now, HLtA lhc
tne comes 10 specie payments, they blame US
clarrd % be a necessity They say tNat sc Jntttntd
fll4cr cont action; but We have not done So eCp
moi say however that contraction may MOI result
from resuu.pt IL what thcJ say - be .h4I ,tie 10
dencip nry al currency there need De - oONlf uon
But cannot suppose that tip BANKS IA ia4his VIII
out some contraction kOr, although thc- etelaoh IL
vet ne rcsqrve of gold would b. dicuii ~ ndi-
lam lAau "A te reserve OF green ro.s IAc4c seems ID
be u ind celcnt Tor the holders OF bank paper u pre-
seut IL Tor CrceHbacks. bat htts. There VII DC "oir
nove IA can Tor gold II AZ siOU o. waited iGr sup
mont abroad But tie banks VIII undoubtedly Dc fhc ny
supply themselves TIE time il Sufficient TO make al
Bsoessary prov 1Ae bans rs "eI as the bc"pe
GOycrnmeut hc Wiling 70 maze iei,eo
Effort and endure come sef+ieDal Dy way 0i 81 EcicI
economy AID pr,d uce for tne ph6l Os Si eC"hPil1'~
~ great good and 80 uecce safy ah OBJECT , -
LIT the TIME De regarded 10 ulaIelSDy uAel uhu We
s,a az pr0ac AZ sa1ey and wit4 coii-hc' i.4s5 -
setting US an encouraging example IN Der many
Struggle with Prussia which se Nas oFeilo"eFed an
- Lea Ly aincft0l tnc s4dGoh GrlIt W e4 SvA va
enormous that ste WAS relied % suHef IN Balh
OF France, for the time being, tOEuspeA But Jan D.
lo9e, was fixed the day OI TesuInpi'0h a. ~ n"Ag
payments vii be resumed fLc depreciation ~ the
psyer already Deared on 10 50 nSiy gone tDa