New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-08

r. following TIRE costly deiusion OF initiation. People
fancy many Of them that paper currency Is not 40 oaa
shat no currency which Legislation limits in quantity Is
from an expansion BY the same power IN en sI sep
the panic struck the country aud Congress cou Jul.
,esit, maj the ss 600 Illegally put by Mr. Rich
ATson Inhatipists that l. those who oeeNc w NJ IN
c ce O Fs s re %ns of the why
should find legal tender notes more ueprccleu nan "a.
any the national bOnds which are based ON tne
good Of the nation NOmoney sound restsunon
anything of the sort Money is D9lh nea, oi vSuS
and medium Of exchange to mix mp WIN me pubic
credit or the public resources the public property "a
France did in the First hev1U"nh. anu az =, n fsI,
for the unnatural Assoc "a ,,t VI q
roncppou its function. The UNITED Stts nccds su-
perior ability in the ADMINISTRATION Of us finances Tney
should he as removed from party politics as possible
should direct the Treasury who ~ fertile IN some
10 comprehend the vastncss of tho national sources
and know how 10 apply them TO the purposes OF taA-
ton M Of the nanc lueIieS, th' pe'tinllc pot
ferins moccyed ncompeteucy. and the costly CON
Predictions OF Bouiwelilsm ut which inc wcr'u ns
detnoi. and uXed-who-e leading features shall ot
complete restoration public credit and the utmost
possible reduction OF expenditure
THE KEYSTONE OF FRANCES CREDIT
Prom Indianapolis Sentinel
Hugh McCullOch is writing letters to explain
the wonderful rocnpoGI Of France tlV9 .oe iSiOI
was supposed after the restoration oil PEACE whon france
was left burdened With war indemnity Of one thousand
millions bcret OF of her richest provinces. desolae
of her faest regions and punscd IN cl'll VAT
four y6als. she has taken her position aiming the most
prosperous nations Of the globe. she Is laying. with l-
woued aud caution the founddtrns OF clv ipery'
and at te tune, has reconstl7ic|rd h soohi -
ten, and established lcr commerce ana industry IN Az
their folner glory Above all the cOnIcve conndt nee
OF the world in French integrity WAS wat ndod t0 save
the nation soInU doubted Ito abnuy OF Franco 10 pay
her debts doubted her determination 10 DO 20
The idea OF rcpuda;ion never preached In France
aud tat is esteemed by Mr. McCulloch as tho Key
stone Ot her credit.
AN INSTRUCTIVE AND IMPORTANT SERIES.
From me Eln.dra Adrertscr .
The series of letters eX-SecretaTy McCull0ch
"a la
exceedingly Instructive and Important Ille wonder OF
her rapd recovery from the effects OF the German war
has been problem that nations COllu mol tJNe iOic7
have never permitted 10 struggle with the business
interests OF the nation. french nnnceTs nave nhsed
their resources the production and Industry OF The
country which have proved solid rock OF confidence
Money lenders III ted French promises 10 pay
1t a country that never repudiatcd Ihs, VI ncr
problem. Why Ike confidence does not exist IN the
United states AIR. McCuilOch 10 to explain orncVnS rue
Reputation aud the folly Of Imitation ana d1.hanco
with re- sumption.
ME- NoCCLLocHs QUALIFICATIONS AS A FINAN-
CIAL INSTRUCTOR
From The C0uEeil B.'Qs N1-) NonDdr'd =.
The Hon. Hugh McCullOch, ex-Secretary OF
the Treasury the head OF al influential banAins-
&KwIOWK TRIBUNE in winch ne ma kcs use OF t4e eHi-
pie of France basis rum which To deduce
with financial problem That there IL great lesson
to be learned from the recent history OF fr''c WIZ ne
aduitteI by every one cohNelslht WIN a.. S S W
events during tie past lew years; ana thL' "a 81 VI
lOch has studied II with care u equally eFdC nom He
able and intelligent manner in which be handles bis 40
strISe subject He has been, II IL true fortunately Sun
che past six for observing and Studying
their largest field the phenomena Of nauce since MS
retre ment from Treasury his connection with great
London banking house, and association with men woo
hold the pursestrlngs of nail tho nations OF the eart'
has placed MIN In the midst OF the monetary movements
Europe AMI the knowledge aud experience which lie
has lhds gained certainly add Importance, 10 say Vic
loGs 10 the financial views which ho Is now presenting