New-York tribune., 1877-10-26

rccted by a single WILL they all concentrate
upon II single point of attack.
The Resumption Act has been doing its WORK
so quietly, and with so little disturbance OF
trade or industry, that less than one year ago
men were still calling it a sham. Uudcr that
act, they said, no sane man believed it p0ssi-
bic to resume; the men who passed it never
meant to secure resumption; The act was ut
terly impotent, a farce. and II cheat Now the
same men are complaining that the act is al
together too potent. 1t forces the country TO-
ward. resumption too rapidly, they say. In
this or that. or the other respect, IL ought to
be modified rs 10 methods but the one thing
absolutely needfu say these people, is to re-
pal the date, and put farther of the day OF
honest payment. Much Of this talk is Villain
Ous. lis conscious purpose IS to trap the
country into population. But much more OF
il is childish. Scared by thcir own vague
dreams. "a, babies are frightened by bodiless
imagnings in tnc dayk, these poor people are
ready to sacrifice future prosperity and public
honor to their fears. Yet the following facts
are indisputabe:
/. Preparations for resumption do not cause
present troubles in business, for those troubles
existed before the preparations began, and still
exist, with more numerous failures and heavier
losses in Canada, in England, and in Ger
many, where no such pr, par tons are being
made.
H. Failures here are less numerous, the pros
tration of business is less severe, and the num-
Der of persons unemployed is smaller, with
currency less than 3 per cent from par, than
they were one year ago when the premium on
4 I n he
resumption has had any effect, it has been to
lessen the prosiraton and give some relief.
III. Prices and wages have already been re-
duced nearly to the specie standard, and IN
many cases beyond Il. If sacrifices were
necessary. in order to prepare for resumption
those sacrifices have been made. 10 turn
back now, throwing away all that has been
gained, would be unspcakable folly.
". The secret of the difficulty isand has oeen
want of conf lence on the part of those VINO
have money. rhe lands and mInes the mills
and railroads are ready, and the skilled work
men long for employment. But capital hes
itatcs. CuIsing it ana railing at 1t VIII not
remove its fear Forty thousand takers, each
with The voice of a Kelley, or the incendiary
suggestiyeness of a Phillips, would not lessen
the apprehension vf those who have money
Crazy theorzins about elasticity OF currency,
or rights OF labor, does not change the opinion
of The men whose money Is needed to HIGHT I
the fires and start the wheels of industry. |
They sit and wait. until they are satisfied |
that the people of this country are honest
enough to pay debts. Their, and not TIL then,
they viii lend money freely.
V. Confidence on the part of those who have !
money has already been increased in some de- |
gree by progress toward resumption. Complete |
resumption would bring complete confidence ;
it would open the strong boxes, unlock many |
millions of capital set mills and mines at
work. and begin the rebuilding of industry
upon solid basis. Then more men would lind |
employment, because more money would be
ready to employ them.
VI. Il sumption must come under the act !
of 1875, or not at all for many year. The /
act cannot be chang, d, Attempts TO modify !
the method OF alter the date would inevitably !
end either in total failure or in absolute re- !
peal. Men who mean resumption at all, now |
know that it il possible and easy by the end |
of next wear: they know that we have paid |
Tire price, and they mean to have the return. /
If they are strong enough, there will he no |
change. If they are not strong enough, men !
who do not mean resumption at all will dis /
cover their power and use it.
No man can put these facts before his ilind, !
and yet vote for any change 10 the Resump- |
tion Act, unless he deliberately intends 20
defeat resumption. If le is selfish, ANA would !
give up the bread of millions, and ,ae pros
pprity and honor OF the land, for a small pri-
vate gain, let him say so like a man. Men
have been bribed TO betray their country
before But let us have no more weak
pretenses Of desiring resumption by some other
method, or at some other time. The time is
pow gold is worth less than 1O3. The
method Is the one already provided by law,
snce no other can be provided without indeti-
mite delay and incalculabie peril. One year
of firmness, and this country conquers Icpuda-
ton, as 1t conquered rebellion.
THE RIAG SUITS.
Tho testimony of Mr. TaintOr before the