Wilmington daily commercial., 1875-09-29
FIRST EDITION.
Judge KeIley's BOnus.
CARD BY MEssBs WHARTON, LEA, AND skLIERs
WE'VE OF THE PHILADELPHIA mANIEAnI ILREnh

CARD BY MEssRs WHARTON LEA, AND skLIERs -
viEws OF THE PHILADELPHIA MANUFACTURERS.
In view OF the prevailing unsettement OF
opinion concerning the currency, and of the
danger that this unsettled opinion may be mis-
led to disaster, the Undersigned feel bound to
submit q lew considerations TO their old assOci-
ates OF tho Industrial League and to the pub
lie. Our Obligation to do this appears to us
greater because our silence might possibly be
construed, by the interests which We 20 long re-
presented, al acquieecence in the financial pro-
Jects advocated by the Hon. Wm. ID. Kelley,
whose course upon industrial questions We have
generally approved. We hold
First. That sny revolutionary policy in moii-
etsry affairs, or the prospect OF such policy,
must inevitably bo destructive not only of many
vested interests, but also of that confidence in
the future which was lost in the panic CT 1873,
which has not yet been recovered, and which is
the main element of prosperity now lacking in
this country. Tho schemes TO which Judge Kol-
10y has attached his name seem to us to be of
that revolutionary character.
Secondly That these schemes are not merely
revolutionary, but are intrinsically aud in The
highest degree unsound. plan OF national Fl E.
nance, consisting OF tho issue of unpayable
promises 10 pay for tho use OF currency, inter.
convertible with bonds whose only function is
to produce Mt will similar unpayabe promises,
besides begetting other such promises as inter-
est neither bonds nor currency having any con-
value or any kind, appears to us devoid Of that
hold upon common sense without which no f.
naneial structure has ever long endured no mat
ter by what ingenuity introduced, or by what
authority enforced.
Ihtrdiy. That, supposing our laws concerning
currency and finance to require amendment
neither the devisng OF suitable legislation nor
the administration Of it when enacted could
prudently be entrusted to those who are now
endesvoring to ride into power upon the pre-
suIned readiness OF the country to welcome any
scheme that promises even temporary relief,
though ut tho cost OF future suffering. Few hui
man affairs demand grenter sagacity or caution,
ns woii rs integrity, than the regulation or II
nations currency aud finance, and these quail
ties are manifestly lacking in the leaders OF any
political party whose claims for support are
based upon devices such as experience has
proved to be ruinously faaeious.
FoWthiy. That sooner or later the country
must necessarily return to the standard OF value
which no legislation can change, and that all
schemes which promise relief by postponing the
are worse than futile, and must rem
der the restoration destructive which otherwise
should be beneficial
We counsel our friends not to be 30 carried
away by vague promises which cannot be fulfill
ed as to lose faith in our present system, which
ls in the main good, nor to venture upon q cam
paign in the air under leaders who have shown
no fitness for the grest task they would under
take.
JosEPH WHARTON,
HENRY LEA,
WILLIAM SELIERs.
putt npt put, 1877