Mexico weekly ledger., 1877-10-25
HOW TO RESUME.

Althouglrothe eovesamenti stands
pledgedby tfikacBof 1sT5sa resume
specie payments on the list aoE lanai
1879, fifteen months afrona this time,
it is a debated question whether We
can safely make the attempt or not.
It is asserted by sone that the ooual-
try is not etpreparedte tic. resume ,and
viii not be, ON the day ixed-tiistl
there is not enoughigold Ill the coun
try to bring the Sa56, 100000 green,
backs outstanding up to ~par-tlat
the attempt to redeem them and tile
P$S25, 600 eco national bank notes
along with them IN gold win fail and
thus postponeresumptio indefinitely.
Even the bankers convention that
met at New York last mouth, though
unanimously in favor Of resumption,
| admitted the defective nature of tie
resumption act by submitting to the
secretary of the treasury an inadmis-
stble fiction rs a means Of ~rehhedyine
its NEUTRALITY-SUSPICIOUS. implying that.
| the attempt TO resume under it may
end in trouble. "i,I ~
FL And yet there is one method ~
resurlming chat will avoid all 6fieuit
ties, remedy the defects Of the resump5
ption act and rhl tie process lof aiF
its hardships. The general pFoposis
ton is to resumes speeie payments
Specie is geld ana silver. Gold is
dearer than silver and all the Difficult,
tx Of the task lies in the unreasonable
endeavor to resume in dearef metal.
Why not resume in tile cheaper metal:
Payment in silver would be lawful re-
sumption, just, both ito debtor ard
the creditor! Why NOT rest there,
Instead of striving to resume trin tie
alternative metal worth eight per
cent. more?rt NOT E.oTfG aaei
The redemption of the fractional
currency involves the whole secret Of
fair and easy resumption. That eur
rency was redeemed in silver+snb
sidiary coins of % debased aquality
worth less than the metal of (which
the standard silver dollar is made.
We never heard anything about thC
Injustice of this debased redemption
the substitution of cheap silver coins
for the fractional notes was accepted
with universal satisfaction. Why no
r extend the process? Surely If frac
: %tional notes or small greenbaeks MAJ
be redeemed in debased silver tn
e larger greenbacks may be redeeme,
in good standard silver. The gov
ernment has bought, coined and lssn
q ed $50, 59l, 900 of silver. to -replac
l. its fractional currency; why shoHl'
: It not buy, coin and issue five or 81
d times that amount of silver to replac
Its greefAbackse If it was fair to d
e one it cannot be unfair to- Ido- til
d other. So arg eG g.. ess hfJr.
All that the problem of resumptio
'e requiresl then, is the remonetizatio
y of the silver dollar so that the coun
try may be authorized to ?
l. 100 cents to the dollar instead OF b.
ID ing driven to resume ut no cents {
s. the dollar. The government is bu,
ing gold to resume with. 1t had be
RI ter be buying silver to resume will
1T it would save 10 per cent. by Il
operation and fulfill all the requir
ments oftuli and honest payinen
be 70 remonetize silver would be to r
G. shme specie payment without al
s. further effort, for we have" alteae
Ial lifted greenbacksrto par with silvt
d, faird tlist is practical resumption.
no bdT frt----yu g.
Ts A gentleman lately took the folio
,,sding meteorological journal of !
ii wife's temper: .f
,sr s'AIonday, rather cloudy; in I
afternoon, rainy. Tuesday, yapt
ler1ish Frightened up a little towar
"a eyening.! Wednesday, hchanteabI
hgloomvj inclnelh to rain. ziThursd.
high wind, and some peals Of TIN
;sIt der. Friday, fair in the moruin
variable till afternoon, cloudy
o night. Saturday, a gentle bree;
.'4hazy, a thick fog, iandh few fiasl
be of lightningan sunday tempestuc
las bsnd rainy, towards evening, somew.
calm .TAi 81 H3vIaaai = aant