The New York herald., 1876-11-09

There strong feeling in the West in sehaf OF paper
money. and expect 10 Is still more widely ieit in
The East The result Will bc that such pressure VIII
be brought 10 bear upon Mr.. Tdcn as VIII iaduce hta
To acc,pl The grecnhack po icy, aud 10 that have no
doubt he Will be ndorsed by the nation.
What II Mr. hayes should be eccedf' the writer
ION. that would not alter the result great deal
The other day saw an article IL democratic paper
Charging HAYES with being an inhaiionisL io"Sea
up bis career IN Congress and discovered that ne
always favored the greenback policy with MS vote
That encourages me to believe That Mr. Hayes. too,
would adopt soft money principles. Indeed. should be
or Mr. Tidcn ail Ia do SO. think the voice 81 the
people VIII IN lime demand u OF them. To-day hai
occasion 70 speak TO Mr Tlden, and | told hln mat
conhdenty expected him TO pecome a greenback man
II he did promised him prosperous term and u he
did not told HIM that feared IL would be marked by
great unhappiness Tor the nation
Mr Cooper do You believe that the bulk oil the
question
z believe that they arc, and think that il the
ddatcs In the election were simply exponents OF hard
or SOIL money principles, ard there no party ale
eance To bind voters, he who represented the green
back policy would he chosen by large majority OF the
people No~-a-days when business is stagnant, when
the warehouses closed aud the gathers upon
the unused machinery OF :hc foundry, men begin To
ieel that there something faulty Ia the financial
policy OF the country. And II they about aud in
qnire, they will find that there millions lying
bank vaults which should be flowing ihrou, the chan
ncls Of trade and enrichng the impoverished people,
aud the owners OF them nj the same time They viii
md that this dcprivng the people Of the money they
have used Tor years and found sufficiently service.
able for all their wants has led 20 the
evils they experience to-day, and they viii that
an unnatural contraction OF the money OF the land
viii tend TO centraze It and make the rich Immensely
wealthy and reduce the poor 10 pcnury Oncc England
attempted hat this governments Is aoing to-day. An
expensive war had drained the treasury and system
OF paper money established under which tho
people prospcred Then came AN etiurt to return TO
specie and this was attended with such collapse in
financial circles that 1t required the work oi long
years to repair H. SIR Archibald Allison long ago IN
writing about this matter spoke OF the adoption OF
such course by the American people aud predicted
for II hundred disastrous results. But the
American people, iorewarncd as they were.
pit into which the English had stumbled. When this
country began the civil war and bartcred her specie
away the system OF paper money adopted, and at
tho people rallied made head against the ad
verse circumstances witch surrounded them. Trade
received a stimulus industries were encouraged aud
tho factories and workshops OF the land were busng
with HE and business activity Such period OF pros
perity ensucd as had no precedent, and that, too,
while devastating war was IN progress and while an
immense army and navy had TO be supported. There
was PERIOD OF this financial abundance ana then
the termination OF the war, and the soldiers came
home 10 find prosperity In all the marts of
the North and activity In all the emporiums
OF trade. There vast multitude who had served
in the army turned upon the country to seek employ
mcnt in The workshops and to fall in line among the
lahorng millions Then ihero hundreds oil thou
sands ol negroes anumitted from slavery who had
20 quest OF work whereby 10 support themselves.
This sudden increase in the laborng population OF the
country naturally called for an Increased investment
oi capital in tho industries OF the country. aud
tnnancc OF the casy money system which had been OF
so great avail TO the people IN the dark times OF civil
iavor OF conractvc policy. and Instead o giving full
scope 10 trade and manufacturers began to lessen tho
money in circulation in order that return specie
would be facilitated This the fatal error aud that
error II Is the duty o tho people TO recly; and
that duty they should be encouraged by whoever be-
comes their chief magistrate" I"
"But Mr.. Cooper" was the next query, ssdo you not
think that there evidences OF being the
OF speedy recovery from tho business depression wo
have laborcd unders There s talk about revival
IN trade being imminent"
THAT" said Mr. Cooper, .can bo readily explained.
There have into Nav York and passed through,
during the last lew weeks great number OF visitors to
the Centennial These have purchased pretty largely
the stores OF the city, aud that has gwen the impress
sion that there actual revival ot trade whereas II
Is simply passing impulse which will last but for
time, and then be entirely lost When the people
the necessity OF adopting the greenback policy, will
have return OF good times, and II seems TO that
they will not be long In awakening the cxpedency
OF insisting on such measure"
The writer then left Mr.. Cooper smiling as he had
opponcuts In Office provided they would become prose-
ytes to his financial faith.