, 1877-01-31
THE CURRENCY.
RemoncttzatIon OF silver. nntt Resumrtlon Of
Hprcie Payments

RemoncttzatIon OF silver. nntt Isesumrtton Of
Hprcie Payments.
TO the Ldtsor n The Tribune.
III The urticlc publ!slled ~ your paper Of tho
1Ttll inst, OH the silver question, enleayorcd
IL psescnt Hoinu considerations In rcgarl to ihc
evil effects VI dcuonctizisly SILVER; but these
considerations werc expressed in the bric!cst
manner possible, because dcs1cl to present
thoughts and fAets III the most condensed shane
III which could p!arc them; aud salt would
make such Suggestions In future article, or
articles, as deemed best calculated to remedy
thcsu evils.
II this were L primitive question, and mall
kind "ero III uletr primitive state, II would pre-
sent itself III very different light; but thu art
ot wisdom, In all circumstances. Is to consider
tho present co'llition III which, VIC nrc placed,
aud purstu that course TINT Is tcat calculated
to relieve from our present embasrassmcnts
presume II Will be readily admitted that tabur
is the true bns!s Of weath,-uut, perhaps,
Tic mere cltnsts of tho physical lnau,
but those efforts regulated BY Intelligence, SO
that they may bc productive of the most benc-
lrsal tesults. 10 the labores It would bs of
little consequence what was thu nominal reward
for his labor, provided tha, reward would pur-
chase, Ut It's true relative value, such other
products Of lal,or as h!s necessities required,
whether IL was called penny ur dollar per
tlay; but " should ever oe III accord with the
value of other productions III The social rcla.
tons ol l,ie.
In lnr former article alluded to the issue OF
large amount Of bonds am. grecnbarks called
money Or duIlars. THIS was u wnr-mpasura
ral!c. firth by the cIsgcpcics Of tho condition
III which our Sat!un Wis placed. The Confed-
CracY also issued a slmtlaT currency, and tho
value Of each was trstcl oy TIC result OF the
conhIct. The Union was sustained, and our
bonds and gtecnbavks rose III value Just III pro-
portion Us our national utility to pay them be.
ealne manifest. II mistake not, ti1csc bonus,
like the grccubacks, werc issued for 90 many
dollars, not even specifying that they
weye payable III any kind Of
uttered their real yaluc, for dollars were declared
vested in Congress, to bc composed Of a specific
Eu1nber ot grams u sllgrs or gold. as tic ease
may be: but fie gold or silver dV!lar was alike
q soi,t-to|taz, and, when the bonds VI yrrehbIrks
were issued, they were paylble IN these do!lars
uau could Hot honestly Or le.ltina1v!y bs raid
In anything clse; and tie attempt to n'aAu
tlletu payable only II. gold - au attenpt to ln'
sall.iate tho rights VI The Satlon,-ln ck.post-
Jaete Law, forbidden by lho Constitution. a,'d
/ would undoubtedly haye teen - declared by
! our courts but ios tho questionable Icrston de-
t1arlng gEeeubarks legalte,.,er tot dcht4 con-
| tEactel Uetoru tho passage u the law making
them such. Bul, II Tits, u var lncasure. was
| lustfhabte. " certainly cannot Ls precedent
wAeu ~ such. necessity exists. Laws afe tup-
posed to be enacted TINT justice
anl equity may BE- awarded to all
alike; and tho iaw Ut 1878 was,
| iu my opinion, kuEreptitiously passed for The
bcut dt OF tho bnnlhol.lcrs, 10 the great injury
of the Nation. auu thn pcople In thel: individual
/ fclat1ons.
| Win these preliminary thoughts, would
$uggest such remedial measures Us IL inc appear
| be5t calculated 10 promote the end We all hare
ju view, yiz.: Tho ~eiiase and prosperity Ut tho
I nation. The first steps 10 INF mind, beyond =
doubt, il tho retnouetlzug Ut silver, making 1t
legal slender Tor al debis, without limitation.