The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-18

running an engine tnht Is OUT VI gear IL
is the fools policy that must inevitably
end in ruin.
Tho state OF trade and business in this
country, and we may say throughout the
world is prominently favorable mt the
present time TO the permanent adj
iustmcnt of our finances on sound
and satisfactory basis. We can hardly
anticipate such a condition again. The
long period of spasmodic activity which
we and all the world have enjoyed al
most uninterruptedly since the gold dis
coveries of California and Australia, now
fun quarter OF century, is past and
expired. Our circumstances are peculiarly
exceptional. Other countries suffer, even
with sound currcncics. We suffer more
than they, because we carry the additional
weight of redundant and unsound one.
We have thus more TO do than they; and
If this country is TO be prepared TO renew
the race of material advancement with
them, when the present stagnation is
over, then we must lose no time in get
ting into an equally sound financial con-
dition with theirs We must erect anew
standard of value comfortable TO the uni
versal standard, or we shall not recover
that prosperity which belongs to us, but
which is above all dependent on sound
basis for all trading transactions.
And now, in view of this great pres
ent necessity and this unequalled oppor-
tunity. LET us beg of the majority OF
the House TO put aside all their foolish
talk and everybodys foolish talk, about
expansion and contraction, both mere
bugbears and address themselves to the
practical task of putting into operation
Few wholesome and permanent truths
OF finance. the first and most important of
which is, that n fixed standard of value is
the first necessity of all nations, and that
the honest discharge OF its debts ia the
first duty of every country and every
people. Therefore Congress must give
us u standard of value, and provide
the means to pay the deprecated
notes of the Government. now worth
but oiGhty-hve cents on the dollar. Both
can he done without producing
ripple in the business and financial
world; and when II is done, the majority
in the House will find that they have
stabbed Mt once the monster resumption
and the monster imitation 10 the heart.
and they will be amazed to And what
shadowy monsters they were. And they
need not use specie, nor even say any
thing about specie. in doing it. So
great are the national resources and
credit, so abundant is money in all the
markets OF the world, so low and so con-
stantly diminishing is the rate of interest,
so vigorous and elastic Is the national
spirit, that We can pass at once from a state
of suspension and discredit to one of sol
vency and resumption, and TO the posses
sion of an abundant currency of gold and
silver and greenbacks and bank notes, all
alike valuable and secure, without being
conscious OF the transition.
We do not want imitation, and We do not
want contraction. and we do not want TO
discuss either. They are vain and useless
topics. We want to remit them where
they bclong-to the laws of trade. II we
do this we shall have all the money we re-
quire, and often more. We need not dis
card the greenback nor the bank note but
we will add thereto the endless supplies OF
| silver and gold with which the mountains
| of Nevada and California are teemng
| With all combined, leaving behind us the
wretched fiummeries and drooling inanities
| Of paper-money idiots, and the endless con-
troversies in which they indulge, ard with
which we have so long been stificd, the
country will rise from its exhaustion,
and pass from the dismal fogs where
il now aimlessly wanders into pleas
ant atmosphere and revivifying light.
We address ourselves again TO the major
ity OF the House, and eutreat them to leave
their "damnable iteration and begin"
Give us plain, healthy, wise, prudent,
noiscess scheme of greenback redemption,
and leave everything else to the future.
You have no need 10 touch the question Of
the accumulation OF gold, either in the
banks or the Treasury. Let the gold ques-
tion alOuel