, 1877-08-06
A BAD PROPOSITION.

BR1sToL, IT,, Aug. 8.--ln Tue WEEKLY
TninuSE Of Aug. notice, under tho heading
OF The Conllscaton Of Real Estltc, (" all able
article on this subject. After discussing Rt
length tho Resumption act Of 1875, and its fall
tlrc to rcstoru confidence and greater business
prosperity to Our country, you speak OF tho
many mortgages resting on tho real estate OF
this country, OF tho depressed condition Of real
estate, and TINT there fs a purpose In Il; that
the value OF money has been 80 enhanced that,
unless there be change In tho downward ten
dency Of this species OF property, much oft will
pass Into the hands OF tho n0ney-lcnders. aud
there will be landed monopoly in tho United
States, the same Is IL othet countries" This,
you say, must not be, and that It should be
avertesl, and can only be avertcd. by act Of Con-
gross, which should be, first, by the repeal Of
the Resumption act; second, the restoration OF
ct.altcndcr, and provide for tts Tree coinauc; to
witch atn iully agreed, md tint Il can't 1c re-
pcaled too SOON thus educating tho .pcaplu to
futl rcaliziug sense Of thrir. financial doom, II
not speedily aycrted By act OF Congress.
II the prizes Of all personal and rea1 prop.
crty weru enhanced at ot,to 50 per cent [Wo
10 not sca how tho prices Of such pefao.sat prop
efty As manufactures, petroleum, a1!d agrtcul-
their prices arc 1xel BY the worlds n.arkets,
where NC sell our surplus products ln exchange
ior their manatacturcs.-ED.l.. i. tho present
threatenea clrrency-famlno would be avertcd,
aud tho ldls meu aud 1nouey could bo set at
work, ind there would bc no CAUSE Tor tho
turmoil and hloodsl,cti OF tho last fortnight.
Tho capitalists should lnoYe slowly ln this uAat-
.sr, md pot Kill the gooss laysng tacss golden
sal there Is all Object u IT, aud that Is to close
out tho mortgages and ubtaia tho real ostatu
vi tho country al small cost.
Ss g.. ty S sn Ssa I, . tim b,a apS'S .,
for them on sbaEcs, In tho satno manner tiiat
nur1, Of the landed property and tho railroads.
arc belTtx run nowalays, 70 that It. would not
pay them to hold 1t even at onc-tlalf ts price
0f all productions to be raised, aud thus make
roum for moro and greater Investments, and
thus avert n!oru diref4l r1llatn!tcs to their
viii apply will equal force to other countries,
ThgTe u another question Of lntcrcst to tho
people Ut this country whIeh has puzzled u,ei
anl TINT Is the sale Of bolIds, unaer tue head Ut
| Syndicate, at lower rates Of interest than nro
obtailcl III other transactions Of business IN
| this country. Viii The TRIBUNE please In,
| form Its puncruus tealcrs wliat tho
gain Is to tho people by such sales
moro tn alt charges than i per cent?
L. only costa tho Government }k III per cent
for one ysar to self its 4pcF.ecnt bouds at par,
and with tho money It cat!s in. undcr It's op-
tton, tho 90 pcr ccnt bonds, and thereby
kaycs ~ per cent the arst year, and too pes
| ccnt thereafter OIL ca9h bond until 1t hgA ttla
moaey to purchase and tanccl II. The Synli.
cate arrangement 10 working well, aud II would
~ agatnst the Interests VI the Government to
Would it not to better for Congress to repeal
tho Observation-Disclosures gold bunus, and pass at
oneo law that tltrcafter all boa1s 0f indebt-
cunces oi this country should draw 9 per cent
interest, payable In silver, gold, Or tho paper
rursenuy uf the country. whether il b. tho
grcenoask.. soea!!ed, OF Inc Sat!unat nans cur.