, 1877-02-10

hardly rcrceWiblc. II ;tains IT. maximum
nhnt1t p. N. In stormy weather ti'r rnrr1v Of
tn, action Il augmented. No in-crts uE birds
EArE ttcEn seen Dat tic sllriih,
THE CURRENCY.
I'UT TIIE GOLD IN CALCULATIONS.
To II. Eaftor or TAs Tribune.
CHICAGO, Feb. 0.-Thc near approach Of the
gold premium to par has brought the question
OF tnecic resumption prominently beforc the
pul'llc again. Itis very dclusfsc totlcducc from
this large decline flat VIC have nothing further
10 do hut 10 wait quietly for the final drop,
which Will make all our currency alike In value.
Legislation has created nn Irrcdcemable ctr
rcncy. anil 1t will rctnnIn deprecated 10 greater
or ieaa extent, and ever continue to 0,lctuatc,
until legislation remedies tho defect. IL is iru-
possible for tho natural faws ot t1aIc to ,Io II.
Fasnrable circumstances like thc present may
aid Legislative acts, hut cannot completely cure
mtum Gank TO 6, but It Afterwards
rose 10 II, and specie payments LOOKED distant
indeed. To-day heavy importastons of gold
have again reduced the premium through cx-
ceseivo supply, and bome people ciamur for
specie payments in thirty dnye. TIE supply of
gold has Increased, the market Is oseratOckcd,
the price l,as bccomn chcapct,cd, and unless
eolne practical method Is desteed to retain this
gold here. beyond lis usc Tor custon,-ilousc du-
tics and speculative purposes Ia Wall strcet,
tho result Will BE- cxportat!on, 4 consequent
reduction OF stock ond rtsc In price again, aud
further remove from specio resumption. II
Specie payments were certain TO come w!thtn o
reasonably abort time, even tho use for kpecula-
ivcpurposcs In Walls street would not he required
No epccutator would buy T. unless tn itnmetli-
ntc1s export II to another country. Those wl,o
had debts to pay at the time Of resumption
| would lFc sufficiently provided for with National
Hank notes, and the banks would hc sufficiently
provided for With lcga!-tenlcr errcnbacks. The
United States Government would be the only
delinquent II It hal not sufficient gnl.l In It's
Golfers TO redeem tho Ereunbarks. M ndc-
10 obtain this xold even for resumption in !s7o.
| when the EUl1 Is nov ut It's uHn dO0rs, aud the
home market Is the cheapest Iii tue world. How
shall Il at once be utilized and In readiness for
get!sl n,vtlod /. tl,,t t6s government
shalt purchase It thran.h sale Of bombs, and
accumulate It for the. gold redemption Of
he National Banks shalt he req,.lre,i 10 n'sist q
tho operation. | dn not think Congress Will
sanction any earlier date for iull resumption.
hcE leave 70 ptorosT more cconoullcal antl
of gold, which simply stated i.. To pat In cir
ea'atloa at o,.tt. and then wuwlll stast TN new
era ot prosperity. 1t Is not contemplated 10
disregard that welf-known Inv VI fnancc that
| all Inferior currency will drive cut the more
valuable, but simply thu. the nr>stat d<prt.iattd
currfNeN sh1N 6t h,1tit current at fts yod su!1s,
md Tint the Government, which has taic ability
~ couttnl its own issur., shall Gx that value
from this time on, until every grcenback shall
bc worth dollar tor dollar.
| the aRRESgACE GAC0E.
For fifteen years we have 1Een running the
finances Of thu country III What might be called
fhA Frncnbknrk H. hsA tntef, fntt a1es
fectvc oiie, and nut III harmony F" ii that Uf tAe
world; 1t llas been too lr0a.l guagu for tho
hest economical results, null therefore too *
rentlve for he labur aud IN llstry Of the people.
Wien tho b.a'ucss Of the country cnltractesl
its volume after a viii! crI nf speculation and
waetetut production, the ertenslyc equipment
| wcnt numbering on, top heavy aud cumhcr.ume
for profitable sraults: tic gauge WA tHo bread,
mud not economical In working; tho roadway
was too sponCy anil tno insecure, as1 the arci-
dent VI 1875 brought tho fact homo to the pco-
pic. War times and TIA necessities drove us IL
this hroad ErecnlMck gauge. with niVustroiis
| balloon equipment. ,rhcn preservation of tho
nation was more Important thun economy: now
economy and not wastfui governmental e1penl-
bling ts essential the prosperity Of country,
which has been happily saved from dismembet-
nlent.
There Is q gauge that the great civilized world
has adopted, CALLED ta Gul.l.gauge; 1t r. found
ell Oh the hest principles Of econ1mc science; It
runs u, II he'd which Is firm aud solid;
IL Is gauge that hak long bccn tested; II IL not
perfect In all its workings, but no otlle. gauge
has given SO general satIsfasttnn. nor has any
other ever been suggested that seemed able 10
aurmount tho difficulties Of practical oEp1'ra-
tlon. What defcets It nny hare arc more
readily trrel TO thu mu.le oi oprratng the line
than to the gauge itself; tho roadway ~ solid,
but too high aud lungcontll.urd prcssurc of
bahIness 2.as Dften made sad work with the
equipment aud dcranEel tile tralllc of the linz,
and It remains fur the future 10 devise remedies
for the periodic strains that brrRk down tempo.
gurlly thu best.planuc1 sellcines Of finance.
cnASur or 0AC0E.
To change. ioH ever, successfully the present
crcenbacE gauge to the golt gauge without q
tz,tNplctu sloppagc and u general devastation OF
the inv Is the great problem, aud one nut yet
satisfactorily s0lyctl by CUR legislators, 1,an-
ctcrs, and t!io pull. genrrally. When great