New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-02-22
LIE MENT UALT.


What would be- thought of Il conference of
modern European and ancient Egypinn astron-
omer, solcmnl, delegated to " harmonic" the
Ptolcmaic and Ncwtonan planetary systems ?
WouId any man outside of The lunatic asy-
lums expect them to agree ! 1t l. just aS alb
sllrd 10 expect those Congressman who believe
that paper money and ink are the food and
drink of the nation to unite with the ad1O-
Gates of q return to real, enduring money.
The thing il impossible. TO look for il is 10
cypect "A DOWNRIGHT miracle. IL will he credit
able to the nflationistS and anti-nllationistS of
the Democratic caucus committee ii they re-
fuse 10 agree.
Look AT the actual situation. Can any one
deny that majority in both Houses of Con-
grcss are opposed to any measure which will
hasten the day Of specie payments Secretary
nri stow has already the power to sell bonds
and accumulate coin. lie can also under
certain restrictions occasionally burn or bury
"A few grccnbacks. Ii is notorious fact that
neither the Senate nor the House would lift Il
finger TO add to either of these powers.
The friends of currency that has continued
good under NIL circumstances since Abraham
bought the cave of Maclpcah for four hun
measures of mfationiss and tIimmers always
to work contrary to the purposes of their con
triycrs. The Act of Jan. II, 1879, monstros-
ity as il is in many of its provisions, is ut
least stronger bulNall, against imitation than
the soft money men and amalgamationisls OF
this Congress will ever permit to be put up in
it's place. What course, then, can tie true
friends of resumption take but to discourage
efforts 10 mix fire and watcri We are proud
10 say that we did not encourage the last
Congress in this sort of jugSlcry, though the
laugh happens TO he OH our side.
Since 1873 people have had time 10 think
over the merits of q" the best currency We have
"cvcr had and the rejecting portion of them
are every day becoming more and more con-
vinccd that tangible and definite standard of
value is desideratum. Nations which have
such standard are never CONFUSED as We
have been for the last two years by imitation
agitators. No man knows what the dollar will
be- in 1879. Terrible IA the specie dollar is
painted by the inllationists we are conf
dent that its superiority over 10 dollar al all,
or one rapidly verging toward zero, will day
by day become clearer TO the sober mind. Why
il il that quiet reigns in England, France, and
Germany, though bankruptcy and ruin" have
been successfully predicted for each of those
nations by Mr.. Kelley Why does the emil
grant turn from the land of paper and rest
contented under the domination of gold Dull
trade il not peculiar to America, but this deaf
ening uproar about money is heard nowhere else.
The tree must be judged by its fruit. Our
hard money disappeared no less than fourteen
years ago. What has happened to MS since in
so far as money has had anything to do with
it, is the outcome of paper money. If the
fluctuations of inconvertiblo paper have
brought us to the very verge OF ruin IA the
infationists allege, the less we have to do with
it in future the better. If the majority in
this Congress cannot see through imitation we
must wait for Congressman of sharper vision.
There is no help for it. Wait we must.