, 1876-01-19

pnny could afford to serve Chicago with gns
cheaper than two cnn md thc grcntcr tho
number Of companies. tho n,o 70 costly III tho
oud tho nggrcgato product. While No do not
cpposo the creation Of add tional gas co;n- +
pa,,ics, wo insist That tho city Bllnll not lend
Its official sanction, MD, m i legal weight to
new schemes Of srcculat! on mud blackmoi1.
Tho people 1aro right to expect TINT tho
Mayor shall uso lis veto ,owcr 10 prevent The
city boing usod for any' sucll corrupt rnr-
rosc md to prevent valuable fra1>sliso
being granted IL irres' .,onaiblo PARTIES.
-
VINO ohN MArNT AIN BpEC1E-pAYu:ENTs.
III TnE TRIBUNE Of few days ago Mr.. :.
u. DESsLow Ind y iotter suggesting Tint rn-
sumption could be brought about by tho
Government etchanging gold notes for lis
greenbocka ut tho rate Of s;si Of tho former
for S1oo Of Tho latter, rcllceu,ing tho now
notes Oil dc'naul in coin, mud tzisaulng mid
re.sestcen,i'ag them rs FIRST "a they weyc Trc~
sentcd. 1fla fortified his scheme by citing
tho examples of Austria ind nussia, which ho
alleged l!a,l resumed specie payments md
nsaint aimed coil,-rcdonlaion OF their Trcas-
nry 1.otes for q number Of years. "At tho
1reaking ont Of the CrimeHn war, Russia had
for fourteen years maintained Mt par with
gold non-interest- -boariug uovern'nent~noto
currency Of 1,Oo0,o rotstfca." "What
A,lstria mud 1sussin havo doJie successfully
under given crculnHtances. tho United Statcs
cnn do in 1il;o circumstances" said a1r. D..
Va wero not captured BY these bold asscr-.
Iors, but pronounced them 1nero assump-
tic ns unsupported by facts. 1t WIS shown
Vlat ~ tho parallel which ho tried to tiraw
between resumption by Russia and Austria
md by tho United StatuI WIS incxact, n cass
Of assumption instead of induction; (2) lis
| impractlcablo plan vssa tried with tho most
cnlnmitous consequences by somo Of the
American Colonies before md during tile
lsovolstion; (3) that the United States could
not keep up tile redemption Of tho new uotos
if it reissued them.
THE Tribune OF Saturday Inst contained n
second letter from orr correspondent, III
which he carefully avoided discussing the lust
| Of these points, which liz tho nain one, anl
| Ito drops A,st,.ia from his citation OF cYa1n-
| 1,]es, but rcito,atoy Tho Elusive case Of Russ-
| sir, and declares his argument 'pure inlno-
tion" i1lstcnt1 Of what it is, mere assumption.
NEhilo lo clings desperately to tic fnnciful
';pcc;e-resumrtion period Of Russian history,
lie carefully nvoils explaining tho aot|us op-
erandi by which such apocryphal resumption
was maintained. lie throws no light OIL how
! tho thing WIS done. 1t in not explained how
many notes wcro presented cne'l yenr for re-
tlemp:ion, or how they wero rcissucd after
being redeemed, or whero tho Government
os5tninol tho Bpccie, 1t could not hayo been
from tn1c5, because every year since tho
foil of NAPOLEON, in 1H15, tlla current ex-
1-enses Of tho Russian Government llayo cI.
cceacd ita income, and its debt llas beer,
constantly increasing by tho anlo OF bonds
! to nay current expenses. Eetwix: 1922 and
1877, 3 CSC, 100000 Of bonds were sold i,
England, France, Germauy, aud IIolltnd, in
order to raiso money to dcfray curent cx,
perses u1,d this. too, i'll addition to 1T the
10 reed loans from its own subjects for the
samo purpose. Tho Russian Government
: 'nas bee1 utterly unablo 10 enhanco i'll
pa;oer money to rnr with coin, or tt
redeem it in specie, md s1r. D
is simply mistaken in suppoGng TIM
it was done, inst ns he was in tho cast
:: of A,1stria. BY tho wny, we refcr Lin, to TIL
eli nptor on "Austrian Paper Money to b
) fo;and in WILLIAM q. SUMMERS u History o
! A. uerican Currency" which will correct th
! re nasknble misinfornation ho possesses /
= rc spect to Austrian finnncea and currency.
If Russia, between 1910 and 1854, M
;. Al gtria, previous to 1913, maintained spe:
Il pn y1ncnts on Government circulation, u.
title singular TINT they lave not atteppts
to do 1t since then md If they duo n
r. again venture on the experiment We do n
.. prrceivo tho relevancy Of holding thepl up
:, tho United States as examples of sp9cie.pa
mr. ing Governments -
= Ent Mr.. DESsIow, with a. natural pattern
II fontlncsH for l;1 pl.n. like that Q: n fath
~ for his bad boy, olings to his Wild aasuln
~ tons about 1svssia, repeating t!,cm in st
n wiher form, au1d ctai1ns that tue Coloni11 |
;u tempt fulcd in this country On account
a, "now wara md further issues" 4 alie
course OF readng in America, history "
be show him that tho attempt was repent
il failure ia time OF profound peace, nna wi
nj out My Increase in tho volume Of tho Il
~ currf ncy. So much for ulat feeble pl
In Norq for Russia.
ia In reply 10 Mr.. DENstow*a assumptions,
~. give fucts. 1Ic Says thct I:us:;ia kept Mt !
~ from 1910 to 1854 IN amount OF p4pcr cq
his to $3.50, ,U00.0oo (5ll,000,o0oo rouble
which was isauel in 1SI.0 TO taIo up fr
IN 1,500, ,O00, 900 to !, 0o,00tI,D0O paper rouf
worth q cents on tho dorar. Tho facta In
~. W.T. case, according to the u1dmpeaclnble auth
G !. > ity Of thu "a British Statusmania Yeas Boo
10 1875, PIP. 3Gc.7, arc that tho now currency
80, issued in 1919, not 1910; That It VIVA
.es as.' forth by tho RUSSIAN 6a'ls, not by the
thu esnn4* ~ a:',s., ,pr, ,,"t IT,. ra,,a,roa
~ ilucluating discount Of nbcals tho sa1,o rs
49,, y '' American groenbacls. 10 rulier the charp
:'., OF Itussinn currency elear to the apprehons
tkA- s,,sal:o Eo1ikr