New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-10-16
PIGMENTS OF NATIONAL POLICY.


THE CUEI,EN 'Y-TARIFF-1NTERNAL IMPROVEMENTS.
TO the Editor OF The Tribune
SIR: The currency, the tariff, and the con-
sruction and Improvement of the channels of internal
commerce. ought to be made tho real issues at the ap
preaching Presidential election. They lie at the very
root of national prosperity, and our policy IN relation
20 them Ought to be permanently fixed. During the war
for the existence Of the Union Treasury notes made
legal tender for all debts except for CUSTOMS were Issued
by the Government The constitutional right to make
anything else than gold and silver legal tender
can only be maintained by consideration Of the extreme
necessity OF the country ut the time done. That
necessity no longer exists and additional issue OF
legal tenders would bc held unconstitutional b. the SUI
preme Court and ought not 20 he made If we desire to
rank among the foremost OF the civilized nations OF the
earth we must place ourselves upon the same ounda-
ton with them in all that constitutes national greatness
Gold and silver the recognized standard OF Nane
regulating all their financial and business transactions
and so long rs our Government continues the circulation
of an unrcdeemsbc paper currency must occupy an
inferior pcsst'bn among them
The return 70 the payment OF specie by the Govern
ment Is aaeb easier than Is generally supposed "Ihe
way rsre is resume" said Mr. Greeley one OF the
best tbsuk age and he right The very an
Of the fact the part OF our Government
would False public confidence that. comparatively
only a small ainounf OF coin woId be sufficient. When
people know that they got coin for paper they DO not
want it, as paper is convenient than com IN the
transaction OF business. Although the law enacted by
the last Congress providing for prospective resumption
of the payment Of specie the part OF the Government
was not what il should have been yet persstenty adj
heed TO- st will accomplish its purpose. As the
Government resumes the National banks must and viii
redeem their notes in coin when presented when TINS
occurs shall have the best and safest banking system
that ever existed ine this or any other country
1t is the only system where the bl-holGer is
utey eocure against loss This system OF banking
be q
enter into il, The cry OF monopoly cannot be raised
against II 10y the smlllfry demagogues who inest the
effort is now making TO break down this system
and 10 constitute the Coy einneni III eject an immense
banking Institution Tor the issue of an unlimited amount
Of u1rcdeemable paper t. he CONTROLLED ny rn2st wo
% po,eaI osG9nYn 0 MhSSe io p15 65 %
We arc compelled TO raise an amount of money su1i-
ccnt to pay the interest the public debt and TO meet
the current expenses Of the Government This must he
done either 10y direct taxation. by imposing duties on
articles OF commerce entering our poits from foreign
countries Experience has established the fact that the
best and least badcnsomc method is BY customs This
being admitted. the only question is shall the details Of
tariff Dc arranged without regard to ITS erect uiOn ocf
own manufacturers, aiu soItlF I3I sVi'u'o vi
such amount OF protection shan be gwen lhohl ~
shall permit them 60 enter INTO far competition Win
the ccan Labor employee in manufacturing IN foreign
countries Inc amount aid Tor labor en- largely INTO
the of the manufactured article The cost of ahoI
Of the manufacturing districts Of Europe is less than
onc-thrd the amount paid in this country. SO that our
manufacturers are driven from our market unless we
impose duly SUN lent 10 enable them 10 pa! the Ahei
lean price for labor.
Those who call themselves freeradcrs say that this
duty should moi bc imposed Should their policy prevail
Of course the foreign manufacturer would supply our
market a. would be impossible. by Of their
cheap labor to compete with them. As they would then
b. without competition we would DE at their
Having complete control OF The market they would fix
THEN prices TGat is a condition Of Things which 40
American certainly desires 90 Experience Is the best
lesson nations and individuals. our experience
nation g. q tariff adjusted in its "details rs 20 af-
A. and We e Md not listen 90 mere book men ana the
crisis the contrary. That the Improvement Oi our
channels % informal End the construction OF
others is 90 the f.'t Importance in our progress 20 ua-
tond wealth viii not be questioned and the uOs liberal
policy possible should be extended by The Government
Tor that object. j. y. d.
VeIkeley SPRINGS, ". Va, Aug. 10, 1879.