New-York tribune., 1876-02-11


10 an uvofant bearing the pr, ert and tho future
do not assiuia ,lat hc Republican party con lossoy
10 is former grand achievements let not 'tle seek
remuneration Tor the thing IL was iiui do claim 9hat
0nrt in the pagi is n gualnto, for tho future and that
equally tho coarse OF the Democratic party ga DVtn on
vi Ks and AL sades. Is menace ana warning 10 TIE
rce'lO. 49,, .. ,,.,,oor.,s ro-
eung of their former and seeking bctter "ayS
m tie futule age ready give honest clp IN the reg
s;oration of 3 sound currency, thog viii be gaiy wei
cq,G AID teir ii;h vii ho tested 10y works before this
son u Congress closes They VIII not however uuoIn
II .rsnee or hass II, rememborin5 thor pact record we
f4 ap Uncomfortable OF dStfust rs to Then entIe
sincerity in Tho future. This dstst is increased wnen
we witness the brggcn bodness VITA Whch ID ~ we"
of their reputation record OF but Yesterday, dn! 81 O.
stlted tone Of superior honesty ON tne td l' te
question, and Affect paronizng lHnaage S iostny
Republicans who saved the nation nom we "s5Hi1
bncht OF Mr. seJm9urs tranpn ,,tldproa Is tIis d!s
t~li,t when we remember the formal alliance
wi, tbe 0cp,'crts OF the south, to whom our whole
nggncia syston is but reminder OF What lhev thgi
seges term their -ubjuSdton and VINO iioo pst h,on
nrd Pfessent Un,y .S fr f. ,yuelt 0f its war
dehi We have passed. INTO e's. and TO recall the
sShsdn ro in Ths coEniy Would he a. decisive
stem backward and nigh ward aa Il would have bc,h ior
tne Englsh ye1pio 10 surround William Of OanHe WIN
Parliament made up OF adhcrenis iOsr house OF
sualt or as il would he to-day for the french Assembly
10 thrust ON NacM,hOu cabinet devoted U lhe
OF Henry v A. said az te cnt.ci OF my remarks, Mr.
Cbairnan TIE country is suffering under one oi those
periodical TevUs0ns "a tIaae ooi4iOn 10 al coi;hcit III
retons ana which thus far wisdom Of lcsisa haS
he n able TO avert The natural icStSsr or or 80
alive ani alert as ours looks TOR instant rciucdy and
cove hing may bo adopted that viii ultimately deepen
the rather th lay tie eToud"o io an eject
unI care. MATERIALLY enough IN slth tlno iic 'o s @
relief are nui rots ana 80 h;,Io iur eOs E 80, 70
dollar they owe with less than hundred cents WhHe
t.ose who are caught with such delusion seemingly
@>s an hundred cents for the lsr hat IA du' t0t
VIZ tho dollar that they owe ,9,ay o[ ,; M To lss
thst Is due Them tGIuO0w viii have tAe greater ~ itss
Of cents depends On the siiili3 Z" t1N's
:
branches Of business which tA Oh Tie l"!lh oi -dnnns
hy financial paradox tho most secure ana most
THE DEpREssION OF TRADE.
a CERTAINTY as 10 the ysiue OF tho currency from G9y
to day ia injurious to oil honest industry And wni'e
that which is known the Debtor interest shord he
fairly and generously considered In the shaping ot meas
ures for specie resumption, there no justice II asking
or imitation on bshaf Rather Nro "a the Cravest
ndusuce; for Won must remember tha' mere - rrSe
Ci.ss ~ most Gasrrl rG persons "A' W"uI e 'n'iiu,
ally and rcmorsco,siy robbed b. such 3hcy n,an @
,Slr }epress tne surplus owned hy the lahor"rs -
N9ooore thar c c e capiti' stock and derosa ~ the
Naoral banss Thr porsoncrs who represent ne Fatri-
raent % ak hundred millions Ut dollars Here are sever
teen hundred millions oI inoncy ncanis Oh tst,
Waaavcr itnlaiIs the purchasing power 81 the "ltr
SSiS & ,rd vi No nSreioncr me rcreia,eI iaSS
would ha absolute bat t w"uG prnhaby hr 9rc1Fa that
Ne atorcr wont. receive compeEsa hy bis uomray
l9rser earnings But this woud prove total, d'ufi.e
ior no rossire augmentation of wages time ~ nfa
cr win ever sc.p psce with the still greater increase Of
nr1 i'm tlO coun sdtios necessary tO sustain He cT-
ccCt-a;d mari thc eNc"pt"u-un'eH tha g. i'i"'yh
was continually reduced Nv TIE demsnd FOR m"n 30
serve in the army and navy. And those honest
on lie barge profits during the var, and att1m" hoth
10 an inflated cn'Fen"Y commit me fl3F1 , 'iN 80
tie aoSt important element oI Hle caIcul"I.i -.
get tja' lie Goyciuncpt w's ruS;o yer ~ '''iiy ou
{nyng countless Quanii,ics Of al staple articles they
forget that tho number OF consumers was continually
ti-s and at thc Huhof O; modrccrs was !v tho same
cais ondnnaiiy 1owiug less and that tns vs. ne
u!ns,H i '.. N ~. I,or5 ~ "a inc, er,.1r ian fo
supply and oorsrcucrt rise in the price Had ne GOV
erHlncut been able 10 conduct the war on goa htNiS
crI rrovifcC tae coin for !ts recossiu! large and
81 tho value OF commodities would aaye been inevitable
laVc b"ep for y tive rs Ine'ed "a IN rtpeT aI 'nr, o'
Whe The de;<sn oi creating wealth nv tie isrne ~ u
rsderGabie paIer currency may c'G 20 sny 10
go sttftisT toc.n IN t,To roea.rre.or rqtfcr. enc
Troqs,,re coIruc,e6 of two pert namely To abolish NE
- trjrIs at once to 30 amount o. tf bank c.Tcia
tiou onl add 20 tho volume from TINE t. rae th'ra r
stians are 50 nsoparabiy connected that sai discuss
t. IN together.
THE NATIONAL BANK SYSTEM.
Tho National bank system NJ. hnan, was one - tn
rs,lt, O! the war and the credit Of on longs
uelate Salmon p Chase chen Secretary oi the Treasury
AMI may rot be Cupronabe iu~t here 10 rcc' f." TIE
Iouso the circumstances which at tie time made the
N.fcnal bank. necessity to the Govcrnn"ot AZ the
fAasAra state a1 = var'0us degrees 80 eh'tv
or irresponsibty. scattered throughout the c"uutry
Ilcir chaftcrs demanded the rrCcinujon of b"r M ~
s,cce ard rrr- The pressure Of ihs reGnrfm"' i"ir
ors1c,ae circulation was kepr within decent ln'--
bvt tho anOuut Oi il was in most iriancea l'it
70 .o h,l. .Sn.d tor Gcilo,r "f bil~ fer ope
o. 4rclo In thcir yal,s with passage - ihe l'
ter'rr net hpwcver followed b. an enormous i--He Il
Gov rrnen; notes he state banks would 'our'r ne
rer;.ired to releeW in sp'cio, and would l"1t 20 ~
once food tt" country with Their Own h.Ns ana iaHr
from he Government resource in thGt orCflon 10
rcs,i let and t.it their circulation. and 70 .ak' ~"
hanzs beptrl I"@-ib'e il t' great 7o,E o., .n in
in he Gryernrpou finances, tho Nannrl @rF Act wa
passed.. Tuis &c, required ~ eject t'ai every bIrk
should loan ia entire capiih s'"c ~ tbc GOV 4n'Ii
ana tsci On dopos,ing thc,c bonds With tho Treasurer
al TIC United S'ies he banz might "l civ 2ni eTc.'a
!ug 90 per ocni OF ttclr amount ~ 'ticudunS hu,,H
the Government holding the honts i"r tH" pro
fs. And ilst, ~ bref. - precls@iy wfft NaHri,h
is io The syst - perfect.
not feel called uuon 1s 90 It's avoc cy "ri t''ns"
lido rot doubt ~ we go iorwart We un{ Ipu t,ciE t
pow IN which she Sy stem con bc improved Bnl ih'~
ten OF banking if country haS lad, Il Is mmoa-
uraliy supcsor: aud whoeycr ass "a some Democrats
any system o. Sias Eanks is blind leader: and
drep ditch ~ disordor ami disaster awaits The followers
f9tal step II greatly - he dcplorcd, Nr Chairman
tfai many candid have conceived the notion mat
Gisvensed with and the circulating medium he
furnished by the Government issuing legal tcn.
wo,;ll be IN violation Of the Governments Ii'dse
no' 10 iesue more ihHn four hunired millions - iis own
honor until legal tenders rcdecmahe IN coin on in"
no dosire thero will certainly ~ ~ nrcessiy Tor the
Cove nmeni ising additional notes The great and 70
NY mind unanswerOle 0lccion 10 this sciene Is t59t
II places the currency wholly in the power aud under the
direction Of Congress- Now Congress always has been and
alvrys viii be governed 10y partisan majority, repre-
santing The political parties of the country. nd
the proposcn therefore reduces tsclfo thisthat ne
circulating mecium, instead OF having liked ~.
terminate vaiiir, shall he shifted and changed, ana