New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-10-31

involves neither danger nor dishonor. 10
issue more paper Il to break the solemn
pledge made when notes were Issued anu
bonds sold. What became of Continental
notes, and of French assignats and mandatsl
The world knew, and would not have touched
the notes or bonds os the Nation but for the
pledge not TO tread that road to ruin by ISSUES
without limit Make paper money so plenty
that il IA easy TO get. and men will not give
I'D for it their corn and wheat and cotton
wool and iron, which are not easy 10 get.
Issue of more paper money can only make
that money poorer, and therefore less suiheieh'
to our needs. or bad money, there never can
be enough for the wants of trade. Forty MIL
lions of elastic yardsticks would not heip
q Nation IN buying cloth. If faith should DE
broken, and more paper issued, II wolllu oh'y
rob labor. The dollar would shrink every
night in the pocket of him who had earned IL.
Since the height of imitation IN 1864, wages
have fallen one-third-from 81 80 TO 81, Tor
example. But the Republican policy has made
the dollar so much better that 81 Will buy
more than So 80 would buy in 1864. Fldei-
ity to public pledges has made the dollar
grow in the hands of labor, and between us
and great prosperity there is left only tne
culf of doubt which Democracy digs. Shall IL
not be filed mp with honest ballots
"Crpate money! say the Greenback party.
Can Government compel you, benighted
friends, to give one days labor, or any pro-
duct of labor, for its paper7 Then 1t can
not create single dollar OF money!" 1t can
only use its credit, and the question Is
whether that credit shall be good or bad.
Fiat money will buy only fiat food. Men who
do real work cannot live on mOOnbeamS, nor
take bits of paper. which promise TO pay
nothing, in return for bread and meat and
shelter. which cost hard work. IT note
promises TO pay, it rests on a credit which we
cannot afford to destroy; If 1t Is nat money
and promises not to pay, it rests neither on
"the faith and resources of the Nation nor
on anything else. What Government can do
is to create q debt-paylng paper, which,
if not OF full value. must rob labor
most. because labOrers are creditors. The cry
that American labOrers are debtors is q libel.
As rule, they save money. For more than
half the families in New York, New-Jersey
and wEngland, there are separate deposits
in savings banks. Will men vote to make
their own deposits shrink in value, or to
"burn the bonds" in which their own savings
are largely placed? The cry that the people
are starving IL a fraud. More men are en-
ployed to-day than were at work in 1875,
and if wages are low, prices are lower. The
grecnback dollar will buy onc-tcnth more OF
food or clothing than the gold dollar could
buy before the war. Mad Communism has
lighted its torch too late. a dishonest party
can hope to thrive only while the stress is
greatest and relief Is far off.
The growing light of better day is seen
in busy shops and mills, in crowded wharyes
and cars Resumption is near. Its cost has
been paid. The final step remains, and all
the trials, losses and sacrifices of the past
will not be thrown away in an hour of weak
ness. When WashngtOn's frail boats had
crossed the Delaware, on that cold Christmas
night in the darkest year of the Revolution,
and had escaped the floating ice which threat
ened destruction, and already touched with
their kecls the further shore, would the young
nation have been saved by turning back, be-
cause there was foe in 'front.' The shore
of specie payments Is near, and the foes
LII front are less to be feared than the dan
gers already passed. Behind there is ruin
with dshonOr; before us victory and prosper
ity, which even those will share who are
tempted to be dishonest because the times
are hard When labor and trade have solid
basis, all will bless the courage which en-
dnrcs To what end should we turn back
nOwf
The people have taken a sober second
thought, and know the real meaning Of this
raid upon the public honor. " Burn the
bonds" declares the Grecnback party. lia-
tired of those who trusted the Union during
the war is natural for traitors. If an official
refuses, "kill him on the spot" says q tract
from the Greenback headquarters il bond
holders object, strike for the repuda-
l." ton of every obligation of the Gov
eminent" Does the South want to pay
those who helped to defeat it That
the next rebellion may succeed. the Green
back party demands that 1.-THE Government
I" shall never more borrow dOlar.' Dem
ocracy tries TO reach the same end in more
cowardly way. The rebel who refuses to for
get is the soul OF the Democratic party all
the rest of it has only an appetite He has a
purpose, and uses as his tool the Northern
Democrat who knows no hard mOney, no soft
money, but only hunger for office. Is this
the party to be trusted to pay the war debt
Not while the people are worthy of those who
gave their lives to put down treason. IL the
Nation was worth saving. it will redeem
every pledge, make every note as good as
gold, and hold every bond as sacred as a SOL
dier's grave.