The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-08-05

sumption. 1t then demands its repeal, and
also demands the establishment of "a judi
cious system of preparation for resump-
| ton. 1t can not be doubted that the sub
sttution Of "a system of preparation"
without the promise OF a day for the worth
less promise of day without system Of
preparation, would be a gain of the sub
stance of resumption in exchange for its
shadow. Nor is the denunciation unmert-
ell of that improvidence which in eleven
years since the place has consumed S4,-
1000, 900 and yet could not afford to
give the people a sound and stable
currency. Two and half per cent. on the
expenditures of these eleven years, or even
lees, now have provided for the additional
coin needful TO resumption.
The distress now felt by the people in all
their business and industries though it has
its principal cause in the enormous waste
of capital occasioned by the false policies
of our government, has been greatly agra
waited by the Encouragement of the cur
rency. Uncertainty Is the prolific parent
of mischlefs in all busness. Never were
its evils more felt than now Men do moth
ing because they are unable to make any
calculations on which they can safely rely
they undertake nothing because they fear
loss in everything they would attempt
they stop ard wait. The merchant dares
not buy for future consumption of his Gus
toners. The manufacturer dares not make
fabrics which may not refund his outlay.
He shuts his factory and discharges hi'
workmen. Capitalists cannot lend on Sc
curity they consider safe and their funds
lie almost without interest. Men Of enter
prise who have credi, or SECURES to pledge
will not borrow. Consumption has fallen
below the natural limits of reasonable econ
omy. The prices of many things are under
their range in frugal, specie paying times
before the civil war. Vast masses of cur
rency lie in banks unused. A year ard a
half ago legal tenders were at their largest
volume and twelve millions since retired
have been replaced by fresh issues of
fifteen millions of bank notes
In the meantime banks have been surrend-
ering about four millions a month because
they cannot fad profitable use for so many
Of their notes. The public mind will no
longer accept shams. 1t has suffered
enough from illusions. An insecure policy
increases distrust; an unstable policy in
creases uncertainty. The people need to
know that the government is moving in the
direction of ultimate safety and prosperity
and that it is doing SO through prudent,
cafe and conservative methods which will
be sure to iuflct no new sacrifice on the
business of the country. Then the inspira-
ton of new hope and well founded contG-
ence will hasten the restoring processes OF
nature and prosperity will begin to return.
The ST. Ions convention concluding its
expression in regard to the currency by he
declaration of its convictions as to the
practical results of the system of prepara-
ton it demands. l. says "We believe
such system, well devised and above all
intrusted to competent hands for execution
creating at no time artificial scarcity of
currency and at time alarming the pub
lie mind into withdrawal Of that vaster
machinery of credit by which ninety-five
per cent Of all business transactions are per-
formed; system open, and inspiring gen.
eral confidence, would from its adoption
bring healing on Its wings to sll our har-
raised industries; set in motion the wheels
of commerce, manufactures and mechanic
arts restore employment to labor, and re-
store in all its material sources the pros
perty of the people. The government, of
the United States, in my opinion, can adj
vance the resumtion of specie payments on
it's legal tender to relieve present business
distress. If charged by the people with
the administration of the executive office,
| should deem it my duty so to exercise
the powers with which it has been or may
be invested by congress as best and soonest
to conduct the country 10 that benehc 81
result.
CIVIL SERVICE REFORM.
The convention justly sfiirms that re-
form is necessary in the civil service; nee
esssry to its purifi cation, necessary to its
economy and its efficiency necessary IN
order that the ordinary employment OF
public business may not be prize fought
for at the ballot box, brief reward OF
party zeal instead of posts of honor as
signed for proved competency and held for
fidelity in public employ. The convention
wisely added that reform is necessary, even
more, in the higher grades of public SER
vice. The president, vice president, judges,
senators. representatives, cabinet officers
these and all others in authority are the
peoples servants; their offices are not
private perquisites, they are public trust.
Two evils intest the official service of The
federal government. One is the prevalent
and demoralizing notion that the public
service exists not for the business ard ben
eft of the whole people, but for the interest
of office holders, who are m truth but the
servants of the people. Under the influence
of this pernicious error public employmenls
have been multiplied the numbers of those
gathered into the ranks of office holders
have been steadily increased beyond any
possible requirement of public business,
while intfilciency, peculatlon, fraud ard
malversation of public funds, from high
places of power to the lowest, have over
spread the whole service like leprosy. The
other evil is the organization of an official
class into body of political mercenarles,
governing caucuses and debating The nom-
nations of their own party, and attempting
TO carry elections OF the people by undu,
innnnnnn and NV immense cnrrnniinn fnnhl