New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-05
COMMENTS ON MR. MCCULLOCHS LETTERS.
Mr. McCULLOCu EEGACED N A GOOD WORK.

Frytaf
Fx-Secretary McCullOChs communication to
rms SEw-YoRE TKIBrNg on tho finances OF fraLGe Vas
euhsled " re Lnes 81 yes'tS nanop Of F that
wonderful recuperative Po%cr wnien mas ensDeo t9e
he OF sTcsf 5 GSe w a nf rG
sS6shlnents aad even holders Of foreign Sc
curties a. within the short space OF about four years
N PendIetous IN the French Assembly 10 damage the
public 10y disOOursing OF bloodseaeu Brehb3cks
sr descsntng on the virtues Of money based on
shine threatening a. repudiate the DEBT oy paying
Hate erT debt might BY this time been funded in
per cents aud perhaps even In ei cents and spteg
payments you'd have been reeuned long sgo fnancia,
gnOrance and emPririsIn have oesI us dearly anu are
likely to cost US Eooo ueai NOR pooIo "" - ,o
Mr. rcCuocb remarks that the questions OF finance and
Frannet And ss.. Vii il not BE- a happy thing
for our people when the same thing can be saiI
questions definitely settled. Gr ~ the great
underlying principles are CONCERNED INN ~ Hhen W. W.
had perniCiOus currency and revenue systems aSt
ened upon Ne and we osnhU Ses ru o. nS @ ot
sith the reg,ide che leading principles uat shOulu
!.T sS S a %g%Gs S icavo the dds to admins
oioers who viii then BE- more likely to be chosen
are appointed Until then must slttate aud vote, aa
Mr. MoCoct PraGGay admits 9y 1sGns SneS6 SUE ihs
rood work and it Is hoped that biz efforts viii not
Do fTaitless
ISTTREsTING AND INSTRUCTIVE.
F'ro,a RS tusurp a. ~ Adpe'asc7
We reproduce to-day from tnc coiuilns OF
secretary NeCuloch Of London. We hope that 1t viii be
by TIE public kDo sing wen that ~ VIII SSe intef
be chow hOg France recovered fum her extreme pros
alive power OF that great nation The readers OF bis
second ittt ctnuOj IA O becoming deepy hnprteSou
circulating medium and they Will he struck WIN the
statement that France could never % cOHsIeied oshh
rpt except 1T that time when she attempted 10 subst
x, poP'n mich eod hidden away aud unused the
f,aflnu la ne
easement IN her money circles great QUANTITY Oh hcI
reid has born dead stock far circulating medium
! conoerDed Yet times Of great and pressing need;
his ding OF gold. combined Win rue parlosm anu
OF country which che French people have has been
be Government the French have empted tneF pookets
n boarded gold and with one cOnm1n ucsn 10 ssIs
he country taken the loans the country offered
a@Os hestaon ssh aSoa sno ssog i us fe
patriotism OF the people This one eltneht IN iencn
character the source OF all Frances greatness as na
ADJ DESERVING OF CAREFUL STUDY
P~o-, RE D,'rod Tr1lrins
Ex-Sccretary hcCulloch. who IL now at the
Aead extensive banking hnuAe ~ London Is wiring
ipon thu 6uanoes Of France. with the evident purpose ~
iswns rom he .on nppaP }o 70 o n TTn T' are
u Of important and Iuggestvo facts anu desrFe 20 De
sarefC Studied by al who dcs.rOus OF learning
,nsnc,s risdon fn the experience Of other countries
EACH NATION PURSUING THE POLICY ADAPTED
70 ITsLLt ,..,.,,
Ex-Secretary Hugh McCuDOch proceeds IN
al. d.cusson Of The dierGncts WGn end ans
49,.
being really the opening OF the Subject aod s
srst real af,epu at gu analysts OF tho French nnairia
systom Frauce Is country whose Capital ih e@cooNs
ner opDOr.uuites for remuperatVe investment Whie
America bao not sufficient cAtdi 70 otIrJ OH nuI VI 'ne
nnustraI enterprsos which might flourish hero AZ a
CONSEQUENCE the French pay their dcOi anu o"e no
money fOrsRners; get our DEBT heiU aptOd" auu
,utloe our money developing our country EaGh
cation ia pursuing tho ine OF p%9nCy p tou ~
ency people prefer tn the products OF Iorign
nations which have ~ our gold ater tah 10
themse Of such uxurtes ana Keep hcr SOu
AZ home IA make CURRENCY. IL is matter OF deliberate
rhoice result OF q want OF national economy sho
ssndeTay d, zsnoc and this tendency VIII grad
Qaly cured such parties al we have laely pssru
through Had America depended ON her own proiu'tVe
lDdiry and boarded her precious metals fOt decade
uud her debJ with e3-e ana KEPT lef paper
At par. W0 have preferred. however 70 invest our SUI.
aa In new national dc elOpneDts und TO pay foreigners
indebtedness. We sunor the ln'Ou'o
uience Of depreoised currency but We gam more lnAh
~ !Oso.
THH COMPANIONS AND COSCLUsI0Ns.
E'On Trs QysEea QuJ Why.
Lx-Secretary McCullOch LIS writing series
.f hnanc o. arcie- in FHE NFwYORK rRIBCNb W. Hnch
and France since the conclusion Of the late |ai WIN
,arpapy and the conclusion lie seeks 70 draw ~ tb
France hs@ better financial system than ours ineea
.s ae had 10 such financial squeeze U pass through az
The United states has had TO endure VINO shAn say
ma, hcoaise France prosperous today she canOt
ONCrtaken WITH Conimtrclhl relapse I'D
dne course tnri II u not always salt 70 draw con
M c0uparisons that differ ~ essentially US te
.ouue,lsOu. do IN these Our reversed, III lolo'
suc e4cess OF the prosperity Ihst IOiv%le @
ma esd s 0aIs did ~ revolution OF WHICH no" she
does NOS even UIVaiu.