New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-21
SATURDAY, June 10-P. VI.

,
In reviewing the events of the week ending to-day
the most that be said for the commercial
situation is that with the decline of speculation in
the articles of export there was for time
a more active. legitimate movement, but
which was again almost Immediately checked
by the spectators Selling upon the effect of the
movement as a pTetext for again advancing prices,
which in turn exhibited weakness ut the close
through natural stOppage of the demand Were
we upon spece-paying basis this state OF
things could not exist, as the produce which
is now held for higher prices, and is
carried along on loans at exceedingly low rates,
would be forced to meet the markets OF the world,
and at some price other it would be performing
its duty of liquidating our foreign indebt-
edness. Indications may already be seen
that the public are soon to DO again treated
TO long essays like those which have
regularly preceded each season since the panic OF
1873 telling us of the wonderful change which is to
take Mace in mercantile affairs from the harvesting
Of the "greatest crop which the world ever
saw, not stopping to inquire of what use
greot or little crop may be to bust
ness if it is to be boarded until it
rots or wastes away. On the contrary, the usually
careful and conservative Journal Of Commerce seems
IA hit the nail squarly the head in an article npon
lbe existing prostration of business, when it says
There ia n way out " this quagmiro but the people
must bc thoroughly aroused before they VIII take H. ana
al many are already cntanglcd that they are AFRAID 70
str,,le lest they tIe deeper and fai hopeessy
~ duaI extrication The paper money system Is the
Ioadn weight That feters industry and stiles enterprise
Ievery honesf man who knows what lie and sin Tue
renf money standar Is would give his voice In favor
~ fixing "A gold price ana gOln st.nuiru
from a given date (s,y September next " nis
daiIv transactions, and would then begin 10
call n dollar by is true name; To enter every
trade at ia real price in dollars u quote paper prom
ise worth IA cents the 100 "A an actual defceiitu
currency circulating at this discount 10 Keep All tclr
rccors in real money, and adjust their dealings 10 u on
t1is basis the first tfcual step toward new pros
uerity will have been taken. THIS IL throwing
No. Sccdit ON Government issues, and so ar irOn DC
nrecatug the paper money IL would tnn 10 give ~ m
sed market value. II gold cond once D. restoIeh
~, ia real place In the daily reckOnings OF ths market,
Inc relu,f would be- so great that people woud wonder
NV they ever consented 10 the usurpatiOn 0 thls hsht
mare which has afflicted us for 50 many years
II seems useless TO expect that any real and solid
;mproyeuent will take place until such time as the
people shall DO thoroughly aroused to the injury
which every legitimate interest Of the country sns-
tains at the hands of speculation. which hndS It's
mower and protection in our present sys-
tenn of paper money. Aud right here the
gold question seems likely soon to assume
an Importance perhaps not generally anticipated.
By tho figures published in to-dsy's TRIBUNE IL