The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1878-05-18
Our Financial Policy.

Our Financial Policy.
The Silver Bill, whatever may be said of
the principle upon which it may be based,
is at least one step toward correct financial
policy. 1t gives the Secretary of the Trea-
sury great powers 1t will enable him to
bring about resumption of specie pay
ments at the time set by Congress. That it
is necessary and proper for us to resume
specie payments is fully proven by the
financial policies of England, France, Ger
many, and other great governments. One
of the aims of the Silver Bill was to take
the premium off gold. That end has
been nearly, if not quite, accomplished.
The silver dollar and the gold dollar travel
side by side. They are of almost the same
value. This is what was wanted. But
some persons are already growing about the
Silver Bill, and want it repealed. 1t is not
likely, however, that they will have their
puerle wishes gratifed.
Another point in the financial policy
that is attacked is the law which provides
for the resumption Of specie payments.
resolution adopted by the Natonal-Green-
back Labor party at their State Convention
demands the immediate repeal of the Re-
sumption Act of 1875" Thswould be astep
backward. England, France, and other
wise and firmly established European gov
ernments have resumed specie payments.
All wise governments do SO when they can.
Then there is a class that wants the gov
ernment to issue paper money in unlimited
quantities. If we had unlimited quantities
of gold with which to redeem such an issue
of greenback dollars, there would not be
any objection. The persons who want pa
per money issued in unlimited quantities,
however, do not want it to be redecmable,
and therefore the visionary idea is a sophism
so utterly foolish that it will never take
hold of the honest, thoughtful Americans.
We think it best to let well enough alone.
Our money is now what it should be. Pa
per and coin are on an equal footing. We
need enough coin to keep our paper money
from depreciating, and enough paper money
to facilitate trade. Too much of one or too
little of the other would be dangerous to the
interests of the American people, Conf
dence, which Burke said was ga plant of
slow growth, is returning. This is evil
denced by the appreciation in value of the
greenback dollar. The impoverished blood
of commerce has had its ingredients brought
nearer to the right proportion. All the pa
1ient now wants is care and quiet, to make
recuperation possible. When an individual
is sick, and the turning point in his illness
is approaching, the attending physician
very sensibly and naturally administers the
remedy which he thinks is needed, and also
makes all other preparations that may posi-
.bly bring about a recovery. The nstora.
tive performs its work; the crisis is safely
passed. But the patient is left in a weak
.ened condition. Now, does the doctor try
to force a recovery? He does all in hi
power to help the sufferer to regain hi
health, but does not urge the patient to ris'
from his sickbed. In the same way shoulC
weact. To-day the United States are suffer
ing from sickness. The blood-that is, me
dium of exchange-of trade has been i'm
poverished, At last, after hard work, w
are getting the requisite proportion of har,
and soft money. For human being t
have good, pure blood it is necessary t
have right proportion of red and whit
corpuscles, If he have too many of on
kind, he is more liable to certain disease
than he would be otherwise; if too many
the other, his constitution is weakened
If more paper money is issued at presen
we will only be returning to the unhealth
condition out of which we have almoi
passed.
The remedy in our financial sickness ha
been administered. Let it do its work.