The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-08
REsU N UPTON.

Mr. PHILIPPE waH right on Tuesday laat
when p said, In the debate Oh Tho repeal OF
iha third section Ut tho resumption net, that
s'lauiaation could not force resumption "
we really hope 10 place Tho finances Of the
country upon solid and healthtul basis, wa
must frat iamoDetiae on political and adopt u
governmental policy which will feHusoitata
utr depressed Industries and tavltallse our
fnrrRn and domestic commerce.,
The credit af the general government lsaow
t,nan the iifmcst basis. tho circulation Of the
country, including gold and greenbaehH, ls
hy no means In excess Of the needs ~ eohia
marca. indeed, "a Mr., Phillips stated, France,
with II population eaa. hna much greater
circulation than ours The enforcement Of
tha resumption net, ma II now Htands. can only
aatyn Ia contract tho volume Of the olfoulas
tinn, which Ii even now unequal ta the public
needs, and thus stii further einbairaaHea the
altuatjnn, The auteat resumption pro-
Nfamma would be- FifAt. tho repeal OF the
nrenunt fraudulent, nbaufd and datnths
Inv act! aud second, tho thorough ~"
yiaien and modification OF our present tariff
ayntem No arbitrary act Ut Congress- can
regulate the currency aud liA the value Of
aold on silver, or treasury hotea. The Indus
trial and commercial condition OF the country
saru far more potent here than party nalipleH
ar nets Of Congress-. No long M tho present
tariff renainn IN operation. 20 long aa tho
Federal Administration Ia engaged IN n civil
revolution 10 eentralise tho government, no
long ia several Of tho States arc arbitrarily
deprived of their constitutional right Of feba
tpAentalion ia the Senate 40 long will there
bn industrial and commercial depression; 40
long viii there be unhealthtul political uohdl-
tlnns and want 1T confidence, and while such
conditions esint any net Of Congress- 10 afbl'
trarily force resumption will still further em-
buiTaHH deproea and diatress tho country
without accomplishing any OF ita proposed
results.
Tho prompt repeal OF tho resumption act,
tho admission "a their seats of the Senators
from Louisiana and South Carolina, and tho
reorganization Of tho tariff upon tho Demo-
cratic theory. would speedily TX the currency
iii the country upon solid and satisfactory
baala, and simpty because these measures
would paeify tho country. fully establish con-
iitlnnrn In huaincaa and reanimate our Indus
The foreign trade OF Great Britain In thirty
four ycara increased from eiib.asi, ba0 10
SCAT. a6ao5s. This almost miraculous result,
which tran sformod tho United Kingdom from
d comparatively poor nation Into the greatest
and richest ON the earth, was brought about
by the very policy advocated by the Demo-
cratic party, and more especially by the
leadera Ia tho recent movement for tho do
yelopment OF the trade OF the Mississippi
valley. Tho principal feature OF that
policy were tho FREQ trade measures in
PRODUCED In England by Sir Robert Peel
This was perhaps one of tho holdest and
NEST successful stops over taken In modern
times England has failed In u great meas
urato secure the reciprocal treatios which con-
stituted part of Sir Robert peol's policy; and
vet, without such treaties, tho free trade sys-
tenn has invigorated and Increased nearly
every branch Of her manufactures and trade.
The Democratic party favors a trade system
similar 10 that introduced by Sir Robert Peel
In England, and which so largely conduced to
tho wonderful increase Of the foreign trade of
the United Kingdom, and lis that policy, not
an arbitrary resumption law, that we require
to give health and yigor to our finances.