The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1877-11-14
WHAT TOM EWING SAYS.

Boston Posts Washington Correspondence.
WASHINGTON, November 9.-The fight
over the repeal Of the specie resumption
not hasbrought to the front man new to
but abundantly well known in
the West, to.wit: Gen. Tom Ewing, OF
Ohio. General Ewing Is acknowledged
to DO the champion and ablest exponent
Of heYiews OF the soft-money Democrats
OF Ohio and the West. He was sent to
Congress to bring the greenback boil to a
head. and he has succeeded admirably.
Naturally he Is elAted at the success which
has crowned his endeayors;but he is too
able . man to belittle himselfor his cause
BY anything which lshoald sound like
"crowing." However much men may diff
Ter from Mr.. Ewing's financial views, no
man may justly call him either blather-
skite or . fool. He is not an experienced
Professionalism, and he does not claim
to BE-. But heIs close student, a hard,
II not sound thinker and a born leader.
have been somewhat surprised, l con.
tess. to learn by personal acquaintance
that General Ewing is avery modest, o
very quiet and a very logical man and
not At oil the noisy demagogue 1t has
been the habit Of the East to consider
him. The other evening had the pleas
ure Of 4 long. aniet and wholly informal
talk with him. That conversation con-
vinced me that Mr.. Ewing is not SO much
an in1ationist as an antisconstructionlst,
and II not q repudiationist at all. 81
think II will be quite. possible" he said,
ITO resume IN, twelve or fifteen years, but
l do not think 1t Is possible to set o day.
] tel absolutely sure that 1t will be utter>
~ imposstble to resume IN 1879, and any
attempt 10 do 80 will create widespread
disa1tar. "a g9ai ,w2s 1isa u& agn o..
W course 1t will be impossible In the
limited space OF q letter 10 do anything
like Justice to MIR. Ewing's statement OF
his pOeltiOn, but n lew, quotations VIII
give readers, who are always ready to
hear both sides OF every question, little
might Into the financial creed of the
great selt money leader, o. The West.
General said 1, 's'are you opposed to
resumption ~ ~ = ? 1.t-- IN s
"No," be replied, "but,n and he smiled
pleasantly, al would pot stop one mill in
the United States. IWbuld not throw one
labQripg man ont Of employment to ac-
compiish resumption. Then he added,
serlOnsly. '1mean 70 say that the pros.
perity Of the business interests Of the
country 10 rot vastly more importance
just now than :4hs resumption OF specie
payrpents g = certain fixed day In the
aYou mink II impossible to resume In
1879 without causing business dis
astsrv' ~.
II think II impossible to resume in
1879 al. ] believe large share OF the
busincss disasters which have already
happened have been caused by the efforts
TO resume 10 1879, and j believe that
what has happened IL only drop In the
bucket 20 what will happen II the press
emit policy Is pursued to It's full fruition."
l1SA hAk0 VIA 0CucAhis you lullk "
imposaihlo 10 resume in 1907
BECAUSE" he said, I'VE cannot posi-.
bly, aocumulate anything like gold
enough between now and them
HOW much gold ought the Govern.
mont to have 10 be able to to resume?' p
eleven or twelve hundred millions at
the least"
. 'sHow do you make that. out?''
avery simply. Experience hax shown
1t 70 be IN axiom In finance that, In order
70 Gngtain specie payments, II ls necessary
to have on hand very much larger
au1ount OF coin than the entire volume o.
papoe currency which is kept afoat
TSke Epgland. for instance. She keeps
coqstsntly on hand about 500. OO0, 900 In
con; but thevulume Of her paper afloa
negsr excsodg SIX, 900, 600. On the sam,
bads W ahould have much more thai
$3.50, 100000 OF coin on hand, for VI
have nearly e700. 000. 900 Of paper afloat.
How much gold has the Governmen
now q IT. C0mnDandY' aas,qf8 fepag. Il
About 90, 600, 900 an told, but no
oyss 81 g; 900 available for purpo'eso
IlyGsnAsal, you know that gold Is nov
Oh ,about 100. People generally hav'
anNea mat II Il goes much lower, say 4
l0l ou16seoabouts; resumption win he a
most pli1hel. What have you 4
~ d tfnskf So N W ~ps g
*ThsE arIaes irou:the very. common
error % 0enfoundinG resumption viii
equalization, which ID Ifvast difference
4 U10 1uUU01o that OOld A nallin o lor ion,