New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-26

.ETTER FROM TIU-RLOW WEED.

To the EditOr OF the Tribune.
SIR: As an early and earnest advocate OF SILL
yer. / rejoice in the passage of silver Dill
through both Houses OF Congress by majorities
which give assurance Of ultimate success. II
the measure be not in all respects what 1t ought
to have been, the fault and responsibility belong 10
its opponents. The gold advocates in and ont OF
Congress were blndly and bitterly hostile to silver
III any and every form. 1t was in their power from
the beginning to make silver dollar worth Just az
much "a a gold dollar. But the bankers of the
United States in convention, while reluctantly con-
ccding subsidiary silver to what they stigmatize as
a popular 'prciudicer deliberately rejected silver as
legal standard money That raid upon money
current with the merchants" since the days of
Abraham, was sustained with two or three exccp-
| tons by NewYOrk Representatives, in Congress,
and with one exception by the united daily
journals of this city. In the warfare against
silver differences of opinion were not tolerated. Its
advocates were denounced as "repudiators ana
"swindlers" who desired to dishOnor their country
by paying its honest debts in dishonest money"
We were held responsible for the depreciation OF the
silver dollar from 100 to 90 cents while every one
who takes the trouble to think knows that the >
per cent depreciation was occaslOned by the act
of 1S73-7i, of which modern Shylocks took adyan-
tage Intrinscally there is difference in the
1873 And yet, while the Secretary of the Treasury
receives the former as a legaltender the latter Is
rejected for p0stages. Now, the difference in
value between the silver dollar Of 1878 and 1876
was occasIoned by the decentralization of the
latter. we demand its reconciliation, so that
the country and the people may nave
the benefit Of both standards in efecting rcsunp-
ton and restoring prosperity. | have urged, as
often as have been permitted the use of your
columns, in language as clear and explicit AS was
able 10 express my wishes, that the silver dollar
should be made equal in value TO the gold dollar. so
that both being interchangeable, might become, as
until 1873 they had been. legal-tenders | recall
these things now, not to reCrminate but that per
chance they may be remembered IN the future Ii
the wisdom or the common sense which, so far has
been denied to the gold advocates, new comes to
their aid, there is reason to hope that much future
evil may be ayerted. Beside the strong
conviction on my mind that silver had
been unwiscly dernonctzed. / had other,
and rs ! believed, vitally important reasons
for urginr ne have done for the last two years Its
reconciliation. / saw both the danger and the
strength Of the " Initiation movement. lhoped and
believed that what could not be successfully re-
sisted by direct issue might be accomplished by
flank movement. In other words, j believed that
the silver question would take the wind out of the
sails of the infaionsts, and the result vndicates
nv anticipation. / had a friendly interchange Of
views ia 1875, with the venerable Peter Cooper,
who differed with me only in believing that the
country needed an expansion OF the greenback cur
rency. And this offers fitting occasion 10 express
nv high sense Of the public ond private virtues
which adorn the character of that emInenty good
man.
Nv second object in urging the reconciliation
t.lyt.Nt Il Co.
der RESUMPTION easy. permanent ard pltcrnal by
adding fifty per cent to our specie basis. The
rroupt ayowal Of the Secretary of the Treasury
that he will. when the Silver Bill becomes a law.
faithfully and fairly execute its provisions accord
ng 20 their letter and intent, not only confirms my
early confidence in the intelligence and integrity
with which lie discharges public duties, but relieves
all anxiety in regard to the beneficial effects of the
law Already, E,d-panIc makers IN New-fork ana
London WHO predicted and threatened bankruptcy
and ruin 20 individuals and institutions, are dis
MAYED m being confronted with the fact that The pre-
liun on gold goes down while that on Government
bonds goes up My anxiety. however. in regard 10
tho future course of things at Washington Is still
great. return To the prosperous condition the
country eniovcd before the Rebellion only be
hoped for by 4 resumption Of specie payments. That
au.r.cous result can be- accomplished in 1879 if all
GOOD citizen. unite in the effort Indeed # we are
all united it viii require no effort. Prosperity will
r.turn gradually We OF ght not 90 expect impossi-
LiLti.4 We cannot Immediately surmount serious
obstacles The depression so largely felt here cX-
truds TO other countries. II. like France,
our Government had been wlso and our
people industrious and frugal. we should
have already been a. prosperous and happy
A. that greatly favored nation In view OF what we
have suffered, are suffering and what We may be
called upon to suffer, think it best to look some
ugly facts in the face. So far as beneficial results
are concerned we have been without Government
since the end of the rebellion. At the close OF the
war of 1872 with enlightened and patriotic states
men in the Administration and in Congress, meas
ures and policies were inauguratcd designed to re-
store and rcGstablish the commercial. manufactur-
ING and industrial interests of the country And so
promptly and wisely these steps taken that III
less than five years prosperity and happiness re-
turned.
1t is now more than twelve years since the re-
bcllion ended and we are infinitely worse OFF than
we were IN 1863 The Government then neglected
to avail itself Of favorable opportunity to place
the whole National debt at per cent, thus saving
the people from one-sxth part Of the burden under
which they were staggering. The Administrations
and Congress from 1872 10 1876. while dong
nothing for the people or the country. acquired
bad prominence by Treasury mbecilltles Oack-pay
grabs, Sanborn contracts and Washington CITY
frauds Ii is not however. the bitter fruits oil re-
belion. the obqultes Of the late Administration,
nor the misdeeds of Congress, that occasion all
The evils from which We are suffer
ing. We are ourselves fearfully demoralized.
Popular proclIvitics all setting IN the wrong d.
rcction. We are "A Nation of oilers and spendhrfts
rapidly and prodigally squanderng what our faith
crs patiently and frugally earned and saved. Do
nestle discipline is relaxed Lessons and habits OF
industry and economy are no longer taught and
lralued Generations are growing up not to become