The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-09-07

have only htlf the value 81 E0Il money
How is anybody the bcitrroff for thatP
We know we'll enough what * said in re-
ply. II you have debts TO pay, and the law
declare. the debtor may pay in the bad
moucv. then the creditor is forced into the
grip. But creditors generally look out for
Themselves; and give them time enough.
they will find means to shelter Them
selves. In the long run, such
law becomes practically inopcratlycby the
creditors taking proper measures against
10; SO that very soon oven this advantage
IS lost, and there is nothing TO show for
II. The law-makcr has rolled in the dir for
nothing. At this point You have II de-
prccIatcd currency which Is shorn of every
advantage whatever, even to swindlmg
debtor But taking n new community, with
everything fair and square between its
members, everything being conducted ON
honest business principles, where is W.
benefit of the half dollar being madN
dollar by law? You have got low stand
ard Of value, that is all OF what avail il
that2 We have seen what it is to call II half
bushcl a bu~hcl, and eight ounces a pound.
Mon weigh no more and crops are no greater
in consequence.
1sitn clearly just rs true that the cour-
try IS no richer in money or in what money
viii buy. ~ having million Of paper dol
Lars worth fifty cont apiece, thauby having
half niiiionof real dollar,' AT present, our
lalcrmonoy has risen tolc worth ninoty -iivc
cant- ON the dollar IT has done his through
the operation of financial laws that have en-
forced themselves, and not by virtue q any
act oi Congress; for Congress has steadily
reiu. rd any law TO contract the circulating
medium. or lower Tie premium ON gold.
liut tie resources OF the country are 50
great rs general solyencyi Is 20 pronounced,
the standard of it, leading merchants aud
iinauciers and bankers Is so high, that Con-
gross itself has been oyerrulcd 10y higher
laws than those of its own making. and it's
emissions hoye been supplied 10y IA natural
authority, which nobody can resist.
Having reached this point thon, why
should any men or body OF mcn now desire
to prulong the contest in behalf of an ire
dccmal lc aud deprecated currency? il
Is vicious system and has no mcr-
its undcr any circumstances whatever
1t has no plausible claim at amy time hut
tine plea of necessity. But this has Of Itself
aims q rca he'd the want hing point LNon
t4.' 'AlN'l f.AAliDA llNN i' 'iA'hAN'A CUT 81
more than five per cont. while generally
by his plans and devices he is pretty we'll
under shelter May not our Ohio friends,
then, Just about ~ we'll let up on this miser-
ah!e four or five per cent. advantage and
not try to clog the wheels Of resumption
any furthcry
There is no objection to repeating the
law prescribing a specific day for
resumption, because it Is very sure to
repeal itself But such repeal should bc
attended ~ en- enactment allowing
everybody who desires his pay for United
states obligations overdue and unpaid, to
obtain it at the Treasury in bond bear
ing low rate of interest. This is the right
OF the holder and the duty Of the Govern
mont. 1t IL merely square and honest dcal-
ing between debtor and creditor, and il is a
standing shame and disgrace that il has
been delayed SO long The ability II the
country to do it Is not in question. It IS an
act that would be no more felt than Is the
diurnal revolution OF the globe. Nothing
prevents il but the dreams Of the theorists
that il would lead TO some injurious re-
sult-nohody knows what II Is the buga-
boo Of the papcr-money men, which viii
vanish at the approach of a firm will
aud a steady purpose, aud be never more
heard ~. lhc sooner the act is performed,
the sooner we shall be out Of our tolls,
and the sooner will the solid foundation
bc laid for the permanent rebuilding If the
national Prosperity. We must come back
t. tho standard currency If the world. 1t
l. inevitable. Neither clipped, nor swcatcl.
nor dchaeel, nor deprecated dollars Will
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