New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-04-22
COMMENTS on Mr. MOCUI.LOCH'S LETTERS
AN INSTRUCTIVE COMPARISON.


The Hon. Hugh McCullOch, exSecretary OF
The III asnry now at the head OF influential banking
rHE Nl@-YonK TRIBUNE in tho course OF which be is
expected 90 the example Of france as Dlsls rom
Of h@ tned STATES in dealing with financial problem.
ibe OF these letters appeared on Saturday ana Is
10 the wTetched plight in which Franco left at the
rOse Of her With Germany. some four years since,
BY civil dsscoso,u-. and burdeDed with an Indemnity
aobt Of $loooO0o.0oo Within two yeas she Isd iqa
dsted hat obligation aud her securities are now almost
exclusively held by French citizens The Paper currency
cent AMI lbst institution holds In It's vaults 500 100000
Ffsuos are il, a thriving condition. and her psoe
than ordinarily prosperous. And this has been accom-
sa,rnt,y 1,stsbIe government What is the secret
this sIoa,ing financial suocoss This Mr. McCuloch
poses 10 tell rs, aud We shall endesVor ~ Keep our
sosdl ~ lniorD,cd as 70 his conclusions
ABLE AND INTERESTING.
From The CLre,ord Lecdy.
We rppubish from THE NFw-IORK TRIBUNE
On exceedingly able and interesting letter from scro-
.sy on the aaneis policy 81 rrsncs sip he
mod valuable and timely work the press of the coii-
~ winoo @nGCn Of Hsry shall 1nt Their
itsulis the fact that they Illustrate and discuss u
s9Sc sp"%d w sns isS and r anti
IL 8 man who has earned the right TO be sttrutvely
n.ard No one familiar with the facts now denies that
M aclochs career Secretary Of the Treasury WAS
oue marked ability 1hougb put IN charge oi " w
mot culbsTrassins aud important crts NO managed IL
lrtn discovered.
u, Was ono OF thu few men who have In late years
tL,n The CHAIR Of the JrasJry with tine advantage or
,c rogb previous experience ia banking and tnau'l
tr.,.'t1p. on "a large scale. Since his TetTen nj IRON
,e Ircosury be has been the head OF loading banking
hcn,e In London living day by day et the hnaucal cen
Ter of The world and assocatig with tho men VINO hold
tb. purse strngs OF half The nations OF The earth Prom
TOT. admirable point OF observation ana WIN az ms In
ieligeni experience "a fnsn;ier, NJ. mctuoch pro
1seds Illustrate 10y the experience OF frante INC true
eour. o the D.d atates with respect 10 lie finances
When 40 able an American Mr McCulloch oboTS u
point OUT the lessons which Americans should learn rom
European GDances IL will 10 on oPPortuuii! missed
NOse Lessons are not carefully cOnsiderod-
GREAT LESSON TO BE LEARNED.
from M BAg1to CovStf 80.
At the request Of THE NEw-YORK TRIBUNf.
sssccresry MeCioch b;s need tros OF ctiers
sddr.- - that iodrnal, la which he proposes 10 uNfusS
Nf general su.,4ot Of to finances Of the United States.
Mr. Nfloch will receive more consideration no" ush
they did sbeu IN official relationship 10 tuc
subject secetsry Of tje Treasury OF thr oIcd stt,
ebdsa-Cruz shape iy toen to the bnam al oicy
Of tho Gsvernuen MI McCuliJch has been fortunately
sLUs,el d'ufos tho past sis yoars for 0srvln2 ula
ttuc bs ia their ges Heid tho phenomena OF nlhu'e'
HIS nation with q gcst baDbinSiohso b, I"iuth
bes placed hn in the midst Of TIE monetary u0vemeah
Of Lutops, and the knowledge aud eKp,renee when re
has thus ssired must certainly afi boporciu. u u~
phaucial views that he undertakes 10 pio,cat
The b:st OF Nj. McCi0Obs letters. published 10 TIE
IhsC ~ OF saturday refers 10 tho iuneiai ?oilJIGn
f0.iec by Of teAt ADD in tyd0c t".+p Ia! sL,n
TO survey Of tie financial condition "i I'o Che"
Stairs riierc IA great t. bc leaned IOn tht II,
seat h~pry al France am IL p.ai1 ta MT nc 'uUcp
- stabbed 1t with sxc6etius Gaze fuc e'3ai'''o IN