The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-29
PETER COOPER'S ADVICE.

PETER COOPER'S ADVICE.
ON THE COMMERCIAL CONDITION OF THE
COUNTRY.
The following is an open letter to the citizens and
voters OF Maine, written Mr. Peter Cooper OF this
city,
address lew words Of counsel and appeal The
present condition Of this nation, involved In the po
tical issues that are now before your people as
State take this means to do So In the hope that Il
may have some eject In inducing the people to
reflect their condition for themselves and take
the counsel OF an old man In his oghtyeighth year,
who has NO other ambition object In lite than :he
good OF his country and tho happiness and prosperity
OF the whole people.
ness and productive power OF our country and the
consequent distress Of the honest laborng portion
acknowledge and depore The of this distress
full state Of things gwen BY one party Is the extrava-
Tons and tho pD%iusn.ss Of the Wort,us psspls 70
work for low wages. 1t has never been proved yet
how those causes could produce this widespread dis
tress In country In the presence OF til facts
First that extravaganza, from its nature, Just
be confined to few who afford 1t. and that over
production aud over-lmportatons can only be the
consciousness OF inability 10 pay for consumption
no amount OF production and importation could
consume all How came about this insbli.ty 10 pay
Now we OF the national party maintain that
and misery Of our people. It Is Improvement. It
Is precisely that form Of misgovernment that has
ps-legisating for class and putting the properly.
the interest and tho Tor good or evil that exists
class rs d,ssnsuishsd rom tho rest Of The people
| But what particular policy OF the government and
what acts OF Legislation can be cited as misgovern-
us II 10 the policy Of legisating for the last twelve
years the interest OF the OF this nations
Anhf In In nf NnnU hat
have carried out that policy. cannot 60 into detail
of those ''aota" Let any one examine thon and he
the value and shrink the volume Of the peoples legal
tender and raise the value and keep the monopoly
OF gold and silver. and especially OF gold as class
money.
This Is the whole secret, and, q CONSEQUENCE
legal tender TIL very lately was xep. below par to
specie by denying Il the power OF full legal teuder;
and The process Of funding has been going on until all
the government money. Introduced into the circua-
ton and business Of the country, and to which the
whole business Of the country was coniormed,' was
shrunk volume exceeding g. 000 000 000 to the
present volume Of greenbacks, about $3.50, 100000
Remember, every dollar OF the funded debt now In
der-not gresnbacKs. only $42S, 000 900 green.
backs-but legal tender, and designed, made for and
Try in paymops Of labor and property re-
| ceived and used by the government; aud the
from MS seat in he ssua.e, .was ooniormed to the
Legal Tender act" II Is this policy and legislation
that has brought rum upon business iaborng
portion OF our community. II these are fAcss-and
they undoubted facts OF public rscord-they
% or ho no. state o. sa
Jones says. ITO undo the unwiIting and blunder
ing work Of 1873 and 10 render eur legislation the
subject Of money couformablo TO constitution of
cor country" We cannot we dare net, avoid speedy
action the subject Not only docs reason justice
authority unto urging 10 rstrace steps,
| but the organic law commands US TO do 30, and tho
presence Of peril epjo'us what tho Law commands.
NATIONAL FINANCIAL POLICY.
The American people have como to know that
country been subjected q national nnan-
yer,sd he peoples money ,hs. was so.usliy found
circulating national currency NJ the close Of the
ana orm a. sson, Ssb
pay ing interest in gold Knowing this. We TO
undo policy and rescind those "acts OF iunding"
and pay the national debt We mean 10 do this &C.
cordng the provisions OF law, with justice toward
the bondhoders with justice toward the people
oil THIS country-we mean 10 do this ~ the earliest
opportunity consistent with all Just and legal engage
| menus to the bondnoldera As fair sample OF the
argument that cause OF troubles 10 that the
poor evil not Jake low wssss,"l send you q letter
that have received to-day, and which IL only lair
sample Of hundreds that receive monthly:-
| NEW Yoxx, August ~. 1873.
snc.n you BY a., means relieve family Sy
Of children We do not ask any pecuniary All
o.
On dock
old q good .ddrs.. snd ssa GO into .no.
starving g death With dear patient family for the lack
FOR God. s:as there DO found employment. If IT
rsisr You 20 Mr.. Hoereoks, o. the Gorh.m Company
qa, Sp. =.
'"' Nc. $40 w.shlassoa street. New York.
| do not to accuse our political opponents on
this great national question. either oil insnc ertY
the people 10 crafty their own mbision or lust Of
gam, though cannot except all from this GLASS; but
on NJ. ss
that sincerity 10 not always the evidence Of
principlea have learned that even great and 80
good man a. 81 Paul-even no once verify believed
that he vas doing Tod service oy haiing men.
and children to prison and 10 death. The number Of
deaths occasionod by the mistaken policy Of 81 Paul
wero insignificant when compared with the thousands
that havo died and dying OF starvation this
| country aud the many shat have taken their own
duion.
yusDna rnR PHorLr's MONEY!
In conclusion this policy OF funding the peoples
money under the notion that II 10 mere dob cap.
iiast SO as 10 deprive the people OF the OF their
money after having concerned thcr business to It's
use, must BIO reversed. II ~ the "credit OF great
country cut up into small peces a. Secretary Chase
prefer this form OF ,hsr credit "rsdssmlDs 4 con.
stantiy as 1t passes from hand TO hand money
legal tender, and made receivable .'rsdeemabs''
| for all tsxos and dues TO the government We can
keep this money par with by simply giving
and Keeping tho nation out Of deb, to forernern and
especially 10 bondholders paid In COLA Thus may
the OF the world ind who desire highest inter-
est Tor money made from tho SACRIFICES OF
Million but II 10 ior tho ntcrsst OF the working
massss who will then nave the chance TO receive tho
wages due TO their labor II 10 the most Ter
won't hope OF my old ags that these truths DO rec
ognized by the people In time to che IN selves
from the ruin and distress which has already fallen
many, and finally Introduce tho only policy In
the financial AFFAIRS OF this people that secure tho
permanent prosperity or the country This policy
may be thus briefly expressed ;-First lot ali that
passes money IN this country be legal tender OF
the United states aud receivable equally with
a the taxes and dues OF government not subject to
be funded and let II be limited IN volume 10 the pres
cnt funded deot Of the United Statsa THIS sum, by
constitutional provision, shall not Do Increased or
| diminished, except by a liked regulation, keeping
IL, per capita, according TO the Increase OF tho
| population In time OF peace; and In time Of war
changed only by vote OF twothirds Of Statcs a.
| other provisions OF the constitution require. 10
mako way Tor TINS standing fiscal policy this nation
We repeal the Resumption act called and the
Bank act; and all the funding acts that stand In tho
way Of pay ing the public dept OF tho nation In the