New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-28

to snySody or pays il out in business trnsactt the
sH wnG S deposit n saas snd sT
small SUNS win eysn,Ss get there nns as' e an,e
ssr money ago Ssnbs Ssw Gov Allen Vim
experiment not having answered TIE Srcao a S ia thS
same thpg-to the bottom of the Pacific OCEAN esa and
must issue more gieeIDacss. a''p ,%i and
mari nsy V GdV ihS % %oa
is. when the geenbscks viii have become 90 Of any
Sss so deposit sDs: them in the
sa nnn be- ss than con They would a. Least
the purposes OF money and cureney, y enIs
ened Iipancaal Conception This would, GOV Alien
gives to understand be making ana kc trpe I'm in pur
'd desire too q prove rove hat he platform mean; H
o of Ohio. ssi yon in all sobe state
rot be burning shame fs the Isop n o. cs mcsn
when 20 uoh depends upon their decision TO DESIGNATE
him who y 1 claims sd s s s ss es putting
seal OF their appreciation upon unano ,a IanH,n~
sdc @ worG Wherever they are mentioned. earn
estiy hope tie people OF ONO VIII tn'nX pc''eI vi ~
selves
TIE HOPE OF CONTRACTION UNDER The oiio fi"Ai
FORM FOLLY.
soe Denocrate sneakers pretend that the policy OF
making and keeping volume Of the currency equal 10
The wants trade in the sense OF the ONO PLATFORM
under circumstances mean instead or inhation reuuc
t,op OF the currencynamey, whom IL appears that the
trade When will the be admitted, II 1t Is not ad-
m;tted while large quantities money lie IN the banks
idle for want Of employ and thai paper money 1T
heavy discount 10 gold now the wants or trade are
considered to require still more currency, under ~ha'
circumstances will they DO considered 10 require iessi
1t easy show thai so On Increasing the cur
rency the demand win 20. DO satisfied but 1t
viii he still more excited. One thing Ia uni
versally aanitted-i the volume of our ir.
rcdeemale paper money , is nSreaTe e. xortb
IS cesi.s in gold now will be worth 3d. or 40, Or 90 or
% ssn1s C Viii cost x you e s II 40 o. 81 SO
thea. az ho paper money deproclsIes ana loss IN pI
CHASING power its roSGT o. eaccg ,.sssc G re-
qurine tlc ei u hundred dollars now wiz REQUIRE
creased auanity Of tho currency brincg with 1t 10 In
creased power OF eee!ng exchanges IN consequence OF
Hst as far fr.n satisfying The supposed trade
you before. You Try further expansion, ana Use
result viii exactly the You on trying IN that
way 10 mako the volume currency equal " the wants
OF iraGe, the initiation i'll lie indefinite. Until finally
changes at all, and tie whsle edlfce tumbles down IN
| n,iyersal repudiaiion, ban, FBptcy. ana ruin .
Leye any advocate OF the Democratic platform who
esa sasay is IL not taen let hear no mere selit
indefinite. Unlimited GALL vac currency IL ui.eis %
lees Besides. you need only lisien not TO tie q iipin!nS
cocra ic platform and you hear nothing but the roar
for" More n.Gncy 1acie MONEY II ~ dia n9I 10. an an
about j. is not only seles y rs sli1pi. @
vii Iaus at yon; you them thai The platform
does lot mean more money, much, very inuch more
money.
WHAT 7AwPyRyyG WITH THE VOLUME or CURRENCY
/ MEANS.
Vow ct nc return the point from which this was
depression ] affirmed that those who advocated an
imitation rredeenahle paper currency pretending
20 he Democrats, ara advocating an assumption ana
exercise Of power by the Governments far more over
reaching and dangerous and corruption and proigacy
far more demoraixng and oppressive, than any We have
set experienced. this betraying the very principles
which the Democratic parry pats i'll the foreground In
soliciting fhc confidence aud support OF the people iirst
then, az the limit of governmental power you, my
Democratic friends, insist THAI strict limitation OF the
powers of the Government, according 10 constitutional
principles, is The most essential and indispensable
safeguard of popular liberty and free institutions.
contend for tie doctrine Bat you insist also that
iIrtdcemble pGer currency shall be augmented &C.
cOrdn! tho supposed wants VI trade, ana who Is 70 de-
1crnlne what tho wants of trade are and 10 what extent
the volume OF currency ahail DC dn,fhedd' III MS
@ ~ Is TccIlled ~ the circumstances
| of business II there is more than 1nds profit
| able employment, it win flow cut and go
less than the wants u trade require. it will
become dear end hew in from countries where II is
based az on specie win conform to the same rule. Tenn
poray disturbances brought on by pan'cs or artificial
operations may arise but on the MAoe the rue L2lus
good. The Governments hos no arbitrary coidIo "hat-
ever over the vaue OF he Currency ~ sees 20 Il inii
value II Furnishes CONTRIBUTING II roSua,es the hank
ana iue IN lta re..'o d 'a10 ~ d ., i
eipe and practice in e true sense 81 me word Ihete
The tieVerIme. is reduced 10 lis proper funeiions
I5ut is il where an irtedeemable Paper n1n pre-
Ie W I'm ' ~ Ina vaie wien ti"cie nos
see~g IL does not flow and Tie needs Of bust
ness NAV require The tusItity the country shall have
10 d,eI,inea by tie arbitrary VIII of the Government.
not disputed that the value OF he purchasing power Of
rreaeena'e paper eg1.pcy is effected BY tine guam
such 90 TIE confidence Of the people and solvency
SpprtciA5lc expansion Of tho currency, VIII
II its cation and vice versa But rs te cur
Ivqicy changes purchasing power, so The money yaipe
OF all you possess. ard all you have to lry OF to sell,
changes also that The power OF the Government 10 de-
tcTnins the quantity Of currency that shan he in ooule
ton virtually equivalent TO the power by lie own 81 ~,
the private property the land In other words, the
private fornc o every citizen is placed IL tie mercy Of
W mon any business enterprise you cannot sell bny
lot OF merchandise De OF even for cash; you c;n.
not make "a contract Involving tic outlay or payment or
iy ~ viii nc 10 yorr profit or lose and pcr-
hans i'm extreme cases. whether it will make You rich
bankrupt This. then is the awful power OF Govern
ment iIrusied with The Office OF mailing and keeping the
volume OF currency equal 10 The wants Of trade.
M CONGETsS 10 BE TRUSTED WITH SUCH POWERS.
You may me, Cannot tho Congress OF the United
States depended upon to exercise such power with
wisdom and dscretion7' Tho Lord preserve us! The
wsest assembly o, naneiels IN the word would be
BILE 70 discover any other to make and keep the
volume Of currency equal to the wants OF trade than by
return to specie basis where trade and currency sd
inst themselves. But C0ngressivc Ills tie most honest
and intelligent Congress ever expect TO be blessed
with and the adaptation Of the volume OF IN irredeema
BILE paper currency the changing warts OF trade
by annual lie gslaon VIII be found an utter imossibiy
But now imagine a Congress controlled by statesmen
Ike Gov Allen HhO link that more and more currency
,nust he issued until the money OF the country srays
out OF he banks imagine Congress- manipulated by
ring of unscrulOus and adrOit financial sharcrs. and
such Congress welding Ire treInt ndous power or
changing pleasure the currency Waite OF every dollar.