New-York tribune., 1877-03-09
THE CURRENCY QUESTION.
prrrR CoopEps FINANCIAL VIEWS.


Irinrr GIIn. find myaclf impeod by an irresistible
desire 10 call and fix the attention of every lover m ms
co eGnctnaliy narayzed the yari cd industries o orr
people Those causes have been hnlhcehl 10 slIh Wy
real estate of the nation tO oneGalt te amount II Mo
have brought three years and that without having
shrunk the same time any OF the deDis tnat Ha @ pe %
ernment Of country. There Is nOthlis thdI can
be more important than to 1nd out ana ,n,,otnr fe
and ruin 10 the homes OF millions OF the most nd.ous
men of our nation. The national policy thar mas DrOhghI
this frigu calamity oar people snoild receive me
most thorough investigation ana the mOo uGclu'u ACTON
Iv the Goyerumtnt OF our country. There IS but one
way of rrcf out of all this national trouble and sorrow
~ i ohons iejI down in the Constitution
establish Justice and thus secne the general welfare OF
thr nation" To do tins, let take 1t out OF tue power
cf siates or corporations 10 aMs vi "ie ~ iu ~
if.iY tbronSb its administration he restrained
fro.a meGdug caprciOusy with tac currency ana only
uu0rr perluanent Laws and Neundels tOJh and pre-,
determined policy, always h-NnS reference 70 'c soo'
Let us have a national currency issued solely by the
authority and supported IN circulation by me taxing
rency should be fixed in volume, as per oHfita 10 ne
amount Ul the peopie5 money acinaS IoulG ~ cicuh,
certain and permanent in value IN It's lneasuflhg
power The yard pound ana busne Dy lts peig inaaV
rcdrpmable for al Government taxes duties ana dehts,
as wel legal tender for all private debts Ihls cur
rcncy must always ntcrccnyertiDc Win Government
bonds at a low rate OF interest as compared Wltn active
investment. II should I've d currency which D1nk OF
cornornn cannO Tzlfully issue. enlarge, contract
IN s own Interest aud which cannot he taken from the
hads of fhe pcone by the "evcr-shfting balances of
comnoditirs betwce nations, rs the VITA gold
and silver when used As money IL VIII MOI
b. subject to any sndGcn cShtraeylons or
law. based on scientific iuCls ana principles OF
a lust system OF national finances 1he green
bacd can DC made Just such currency lhia currency
can always be kcpt average par with gold OF the
currency Of any other country by the -chthI
and the support which IL VIII gave to thr industry anu
the producyencss OF tie country 1T via increase IN
definitely the country exporting power; we VII Itca
pay our balances with other ha!lohs WIN our sIpils
products have but h;tic occasion for He use oi gold
and silver to pay balances OF traue we can IN no Tay
become an exporting nation except ny sun,n1alhI
our productiNcneS;, diVershed ana eliiaittd
IN evgs ar eo9 oi as r'"n a,od a,i apan
as those on nations and the labor and sAl are
ready 0r II properly encouraged FOR lhiS purpose
believe II vii be wise for us % remove al Ih'e tA
tlun and ely solely sufficient revenue iaiih % meet
the expenses OF Government Ih!s SUBJECT Is very hurh
misunderstood or msrcTrca MED by our own advocates
OF free trade II is tue surplus productions o foreign
is gsotre surplus camia the importers and The foreign
tat is employed 70 bring them mere henco 1t - but
rut 10 tax tins srpus" fJi the absolute WHis Oi our
O"n u3S t =. =; t1xrs Inc i,,,oitrr ana lie
foreigner chiefly, VINO must lind market sOhcwhc.e
'ir, r r. c Cur own good in% mser.:- unused
And o.r oa domestic labOrers lucl Jf cd 1nis Is Vi0-
tt care , Of orr oan people here rt nonio as the llsI
day Of on Governments And leo lis not make the
great mistake OF the governing classes an France, In
Cand and Germany, the wages Of tno operatives
and Wor ali ,uou reduced 10 u Daie Subsistence
1t is tIi> gnorauce or wan OF patriotism mas stands
I'm the way OF the pu'ic veal. botn IN the management
Of Finances ahd !hc adoption oi JJdiciou lailn.
1ne people alone can VBdir1io .th-Ir IlSns d|d aecur5
their own welfare by taking an iheiI-ti ana proper
interest IA tnu administration o. ll"r own G0Fehl n'
H., them rcim' lrom ihis I'M sla,lgh " lellin 80
the principles of iH'c JE'rt "A1 '!e"i ll&i.. ~
the Government be required IA s,Ho proper Wy TO le
Store 10 tic people the ,ooIs o. 'H,i tiar @!!" roh
from tn"a. Let De provision made ior .he retum
IN. ,,.s. Of M rr',iiiou y-s.rl vas WORK al eu nd
pa,l Ton W IN people IL the labor mrieri aud service
s. -L2 lor IN IIIIono lie. Ii a ucy WhcA
ND un"d the American peopl" into STATE Of unai;-
pied prosperity never before known ~ THIS o. ANY other
country aud rhich can DC restored 90 tAo people Dy tie
i,,u. %. rcau5dc.s Paid out To- u!c Hec"s.,ly cN-
, sIi, ANA ~ - i.l i.,tiI." ,,,ir,Hd v.I iJa vii
j.''1r Of he people rave sounded tlls. uoit5
oil encouragement, WaTLmc, and adyice tims
and again, BECAUSE | Dc.ieyc tIuy are lOt
toe peace sid Gn OF orr country. 81 M advanced
~, have pc .ona. ambition or motive !cit buf tie
Welfare o iaallh.ud and io prosperity Of m. beloved
country. IL il W.. t.c lat wort sro.d otter VITA
my Gyn. breath sanuld warn tie p.op'. Of ms eUu,.-
ny agaa the I-;iou- "iie> Ui pIp.l,,od politicians,
.. fo,ci-lnon Who are ready iri tnvu,,yas 10 all
special partial dc.s OF legislation, II they only
pos. csi -ryco because II VIII cnsti tGcir pci.ucil
p4tonag; 'uch men barter i.e Igut The prosperity,
sp"ls aud Tho temporary eaus vlch are tlrOvn INTO
tue hands OF aieW ~ percious - .Ien 0l banding,
81 when tAc Fcii0tcaI pt4'ci oI oar country be'
11-hu record. Ihty &s, the natural ouS!UW,h 0i thc
VI, afElmcul; viii be confirmed by a reference TO the
facts stacd Ia Tie iJoWps letter m relation 10 ia" cur-
T. r. sumner Il e ssis..,ut Secretary uf
STATE. MI -Ihnci SAY mat i4Fic Wa Pdi III cIt ItGl,
in al t.c forms OF sA per cent, tc r'r cent ami Cp
per cen; of lc2-icEG"r money, - lIJ2J2ls52 tDsIrs
The acFeE-lnIItcS, SejOOOo,CvV, which Nr Spinner
says, were In"hIi prepared ana used az r,nCy:
hi, amount had teen paid many dollars, AMI
Ia" D,t"hc tit pt'II III ltJ' "hch 'i' tJNc.Hncdt
then and forever .0uud to iIoll IN. people
lcraender dollar. FOR every form OF taxes. duties,
ald Gt'i@. INC laIc OF ihe Coy oIhnclt 10 q" mat
duty hs cost IN" nation thousands Of millions OF dollars.
Wc WcTo favored on former occasion by Prof White ol
Cornell University win an account "a TIE losses
fptfts IA Af Far hk s.f
authorized by has Government have always :, sret
ted that ny esteemed friend POI "nii, had
sc progress ana Of the ass!gnat ~ France
that injurious losses By did not ur,n
from proper action Of the republican government.
but by the combined powers Of The internal and external
lowing lacts Tnc t.s gnas Of France Ttrc based Oh The
Couscacd property Of the Clergy and LObiitJ which
bOtn tie CLERGY and me no'hly mad deep interest,
that led ;hen rD dcHOuncc tlc tt idsc,!
and outrage. There WAS another royal paIty that united
III declaring tDdt lhcH iiS hal bet taken without Gry
oi INC foras OF law and hcnOr the I'LL, still remained
in tie clergy The parties al united ia declaring that
tnr HsilIats were utterly without any basis To secure
tnclr rcdcmutoh Tie parties never ceased 10 a"itac
ana he c,edt cf the a.signat-. liu finding the
Revolution ico strong fcr hcn ali Mat Its ca;Sc was
bcHg 20 successfully srrnSthcnrd by vonqu rlu; the
cuomies ~ liberty ANA of the nation That otfol nations
were elA5 To ~ power ana 'LAi IL armies were VIC
tUIuu aLd mat It's pricpe', as developed by :lr Com
stituton and laws, wcro such reason and humanity
! tine ncw French Government united in an tfJrt
/ to destroy the power OF tIc new Government by
ciIchHllh cuhheiitIi hSslShls ~ every direction Tue
cuunterIcnc cJnhnnred ID 1872 IL Bo llu and SWitL-
]
destroy the mower OF the Republic. II found by
| the noJAy that Belgium ana Switzerland too
much IL sympathy with the 1cTolnOui>ts 10 be trusted
They tnen extended ihcr operations to London where
tAey found more scope and greater opportunities Tor an
! interrupted work History tharsea nat England lrnt
| her ail 10y allowing ",.ycr,ccn manufacturing
| Establishments Ia operation III London, with "A
force ~ 100 men, IA tle production V tue i-sgnus'
D. II found that 1000 900 OF counterfeit lrtnc5
had been circulated IA France when Oly TSBO. 900 900
OF francs lad issued Dy the GJyrrImci.i showing
that the danger of oVerI-suc cneuies OF
thr Government, and not nom The Government itself
The assessed value o tbr property wEiti based
the 500 900 of francs was, in 7Jj - 900 900
! - L.. Ill -.