The New York herald., 1877-12-01


These tables ny fully represent tho extcnt
oil the fluctuations the legal standard OF value dur
ing the last sixteen years. Ihe variations cannot bs
number OF days. They have been numerous every
day since the date OF suspension, and can only oe
numbered by tens OF thousands. The importers and
other wholesale dealers have often found, during the
last years. that IL would nave 0een moro proht
able 10 have bought and sod gold IMAM Inc comMod'
ties belonging to thor Legitimate trade IT. III the in
terval the price OF gold had risen, the Importation
received at loss; II a. nao fallen the profit on
the sale OF gold would have been greater than that
derived from The sale OF the goo1s. rhe tendency Of
such fluctuations Is either 10 bankrupt or 10 denorsl
such circu business Of every kind becomes
simply game oi chance. based upon tAe ever chang.
ing value or weight OF false but iegatzed Standard
ana many persons in evory por('on Of the country
abandon their Legitimate business and embark ~ spoc-
ulaions, bringing failure anu disgrace upon tnen.
selves and losses upon those who Connde IN them
Ii the weight OF all Tho produce which has been pur-
chased the last sixteen years had been determined
by STANDARD pound which varies in weight fron SIX
10 sixteen ounces or II tho measure all fabrics had
been ascortained by yard sick the length OF which
different times ranged all The way from fourteen 70
thirty SIX inches the evil resulting from the use OF
such slse and varying standards ot weight ana meas
ure could be greater than that which followed the
value as has paper dollar Not many years
1t required 100 largo ana heavy weights 10 balance Loo
cal science. avs-pou nd wei9h viii balance much
larger oi produce, while the actual use OF the
pound weight is conned TO the small transactions Of
the retail trade. IL would now be impracticabo
to weigh the products oil the country with
tho old fashioned balances, but the weight
OF car loads Of coal and oil canal boats OF grain
quickly and accurately determined In pounds upon
modern platform sCaie every ono OF which is exactly
sixteen ounces avoirdupoiA There ts not sufiicent
gold or IN the country with which TO pay tor
0newenetn part OF the producs of the present year.
but tho machinery Of the bank, with ats system OF
checks and bills Of exchange and clearing houses,
will nay for IL all In doars every one oil which will
bo AN equivalent OF the standard dollar OF twenty
i've and eignttenths grains oi gold nine'tentns nne
MEANING RESUMPTION
Rcsumption does mean the actual use and
handing gold dollar In every transaction. Coin
ana currency but the small change used 10 the
tail trade. Bank checks and bills OF exchanges are the
instruments employed IN all largo transactions.
s,p ulc check pays Tor whole invoice OF goods for
car loads OF coal for houses nnd lands Resump-
tfon means only that the dollar represented tho
bank check shall be equivalent to twenty-five and
upon the baam OF the platform scale shall be cquiva
lent to sixteen avordupoIs IL means that the
rnous and billions OF business transactions OF
single year shall each DO measured Dy liked and
and not by nuctuaSing ana Ialse standard ol
value.
Congress- ON March 49, 1859, passed an act In which
she United States pledges its faith make provision
earliest practicable period Tor the redemption oi
day liked for that purposs. The paper dollar Il
now worth 97 cents In gold ana represents weight
oil about twenty-five grains of that metal II has in
It's representative value and weight i0rty
cent during tho past two years and nearly Ave Der
cent within the last SIX months, and there s up
parent good why ~ should not become OF
full standard value, when both the paper and tho
gold dollar will De an equal measure OF vaiue for the
ricn ana poor alike
The government and the banks OF the country sus-
pended specie payments December 49, 1861, and 10
s believed thai the national banks will cordially unite
value Whenever the acts oi Congress referred shall
be carried into effect