Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1877-08-24

placed It at q dIsaayanSage, Corn And wheat, |
when free to contend in the markets Of the Ma 1
speoJiFe Valnes; restrict the consumption OF
either TO single State leaving tbe Inarkels OF
ii cir Teciprocal powers become seriously i'm
pa ired. The restricted commodity may, nY It's |
abundance in the State where tolerated. expel the
other, buS not restrain its Talne below what y
is in the nelghbOring states; it may now out, but
viii not sink. So with gold and silver coin Cnuer
existing monetary conditions Silver uoneT re-
stricred 10 ina country can hardly exert con-
trolling influence over the gold Yolume OF Two
conrinenIs Unless, Then, they start abreast they
reasons and in view OF the interests involved ana
the results at stake my convleeons are clear snas
Our current coins should CONFORM 10 one unit Ol
value. whatever that unit may be.
Together the gray End the golden eagle swept
powers; Lhe former has been stricken down in tte
ffght. II Is now proposed to relnsrate II. snail
sbs # in the outset be made bird Of prey to feed
on and consume the public and private credit
wealth Of the Nation, poTerfess 20 render REr-
chasing equivalent II this, then tnoeed VIII Il
fan into Onutempt and again lag behind its more
favored companion To this. speaking for myself,
an unWiliin4 TO consent. Rather let them
together soar bearing in their I'll ght those rival
landmarks to Industrial and commercial pros
peTity-PUBLIo CREDIT AND PRIFATE FAITH.
RESUMPTION.
Remonetization of silver, under jndioious re-
strictiOns and limitations, with the restored dig
mir ard powers Indicated, can hardly fail to be-
come an efclent help to the resumption Of specie
yment. Co operating with gold, now little more
Than Speculative commodity Of merchandise, In
discharginK customs and pubic dues Il will re-
duce that com TO the rank OF commercial money,
and make ITS existing volume available for the
purposes OF resumption. Swelling this volume BY
keeping the balance OF trade steadily in our favor
rhe desired point Of interconvertioihy can not be
in the far distance.
FUracastHs less discerning than retrospect. To
discover after the fact what might have been bet
ter done is less dfnenlt than 10 determine in ad
vance what is oest to 40 II I can hardly Be cues,
should he on Government account alone, and
either this or its equivalent in gold coin employed
exclusively IN the redemption OF legal-tender
notes, and in enabling the banks to pre-
pare for making their paper intercon-
Vsrtible at pleasure. The capacity OF the mint
being limited to twenty or thirty millions year.
the coinage and reissue must necessarily be grad
uaL The accumulation can be disbursed from
time to time W the redemption Of legal tenders,
ann thus gradually advance toward nterconverti-
bfiity without arbitFary contraction or disturb
anee Of the existing volume In circulation. Reou
peration VIII keep pace with the changes, provide
against shrlnksges and repair possible losses as
reached by insensible approaches without financial
/ TeTulsiOn-a contamination devoHtly TO be wished.
Some change in existing legislation may be nee
essaTy TO effect this. The Resumption Act provides
no plan or means for its execution. The Opposi-
ton, who have controlled the lower house Of Con-
GreSs st1ce lis passage in 1875, nave steadily re-
/ fused TO unite in providing any. The present
House will undoubtedly, persist IN such refusal
\ The time fixed for resumption is but little over
wear distant. Surrounded and elogged by these
| embsrrassUents, do not perceive how 1t 1s pos
sible for the authorities TO eonsumnate 'resump-
ton on the day dxed without the most seFi-
ous consequences, unless the opposition
House shall come to their aid, which is not at all
probable. demonstration can not furnish the
needed relief within the period limited. The sub
stltutoH. for The time clause OF the act, OF appro
pirate provisions adapting 1t to the agency OF re-
mDDeilBatiOn, or the suspension or sbroEation or
theOiaHse appears Tor these reasons indispensable
To Congress. however, this must be remitteo,
trusting that the wisdom Of that body viii do what
/ ever and only what Is necessary ito make provt-
sion the earliest PRACTICABLE period for the re
i demption OF United States notes in coin"
I Not more money 30 much better money; not
greater volume so much as greater actiTity Of the
existing volume DO the interests and wants Of the
cou1trT demand When these shall be attained,
then viii liked values and coin equivalents replace
depreciation and uncertainty, gold gambling lose
\ its occupation, premiums and contingent pre-
miums cease TO augment the costs OF consumption,
capital seek legitimate channels OF Investment In
enterprise resume her former confidence, aud hope
and happiness again be terminated by the genius
/ OF public credit shielded by public honor.
THE PREsDEET.
Now, nv neighbors ought here to conclude. It
Is impossible to crowd the material FOR volumes
into the utterRaees Of an hour, and time tOrbids
/ postponed 70 fuJure occasion. can not COZ
clude, however, without declarinR IL IS my delib-
Repubiieanism, and to our common country, to
gIVe fair and honest trial 10 the experiment
/ OF the President in dealing with the Southern
question That there are dinerences OF opinion
On sthis can not be denied or ignored.
From an intimate personal and Official &C
ever thai 1 know him TO be OF incorruptible in
tegrty and intexibie sincerity, Incapable OF other
motive than that of the Common good OF our con-
mon countrYmen. think can further say that
vhils Recognizing TO Its full extent the right OF
Federal intervention to enforce the constitution
guarantees Of liberty. protection and citizenship,
i he, under the eRbarrassments which his prede
ceRsOC and the Congress which had power over
/ It had permitted to gather about the question
and be eDtailed upon his young adm1nls-
ration, sincerely believed that Cancellation, good
will and National fraternity-those elements of
Union which give enduring strength-would more
effeoiuRiE Fepress interseotional animosities and
race conflicts, stop the shedding OF innocent blood
and secure permanent pacification, than the
harRher exercise OF his constitutional powers BE
preferred rather the bitterness of his own
people againEt himself than that the temple CON-
mitTed to his guardianship should. by division,
cease to stand Dfstastsful this to some CT Us
h. trust that impartial history, the future OF
the country, and the highest welfare OF eman-
/ eipaued race viii vindicate the wisdom of his
/ course.