New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-09

Government bonds are threatened with bank
ruptcy. The purpose is to alarm those VINO
have their savings deposited or invested IN these III
stitntions. Heretofore, efforts OF this kind nave
been the specially of AeTarians and Commun' sfs'
They were regardedby all good citizens, and more
especially by the press As incendares Inc DANGER
70 such institutions lies in very different dlree-
ton. Their losses III G9vernmeht p1hns VIII ua f
mere bagatelle compared with their losses on real
estate The capital and deposits OF savings Dahks,
hfe insurance companies etc, are largely inVesteu
in bonds and mortgages These securities once con-
siderrd first have shrunk from 20 Ia 90 to 20,
and in many eases, TO 100 per cent -.
Too MANY of our wealthy real estate owners nave
already been impoverished. And II the warfare Oh
gold against silver, or in other or more slgncal,i
language the warfare of capital against labor should
result in depriying the country ana people OF S Ha
half of the money power they possessed until 1910
and which il needed to revive business ana restore
prosperity, the losses and suffering occasioneu ny
such u policy. will teach me opPressols
that there is point beyond WHICH ehu"'"hoo
ceases to be virtue"
THE GIFTS OF PROVIDENCE.
I'm the debate for the admission OF California mo
the Union, the late Governor Seward then III the
United States Senate, appealed to higher law, NOT
to hiring tb.t law into conflict with human enact
meuts. Int ia prove that wise and just human laws
bar1norizod with the divine law. lie claimed that
California, coming 20 us provldential gift.
should in the spirit of all divine laws, be devoted
under the Constitution TO union, to Justice TO de-
fence to welfare and to liberty The higher law
doctrine will he found applicable to all that con-
Germs nations and peoples. In the earliest dawn
inqs of history when commodities began to be ex-
changed and a medum or standard was required to
facilitate business operations, silver first and gold
subsequently was recognized precious metals and
invested with money qualities which were perpetu-
ated and extended throughout the nations OF the
froul To tine, TcYeatl
these treasures in discriminating proportions ~ they
were r.ouired for transactng the business OF the
world The time and circumstances connected Win
orr ACQUISITION of California lead to an impression
that we were indebted 20 ahghcT law power Tor
boon of incalcuable value California, in many
ways. has contributed. in the language OF
Governor Seward, ito union. to Justice, to
defence 20 welfare and to liberty" Her
treasures of gold and silver, hiddea for
more than thirty centuries were reserved Tor our use
until they were needed, not only 70 augment our
National wealth, but to facilitate and dflse pros
perity and happiness throughout the whole extent
of our country. 80. too the Qcnencent hanu oi
Providence may be disreTncd ih4othcr manifesto
tions. When the sea ceased to furnish an element
essential To civilization, the earth snddeniy anu IN
cxprctedly opened its storehouse In other W"ror'
V hen the last whale disappeared inexhaiistihlc sup
plies of oil was discovered where IL hah pcen
hidden for centuries in the forests anu
fpnsyrlv used throughout our own country,
and form large and valuable portion of our ey-
ports to foreign countries And again. rivers enter
ing INTO iEc Mediterranean Sea abound III sardln"s,
q species Of fish unknown IL most other portions OF
he world and yet bus for bcnriiccni ana beautiful
provision of Providence those oaly who reside npon
the shores Of the Mediterranean. and the rivers
into it. could have enjoyed a luxury III
" hich al civilized countries now participate Along
the shores Of the Mediterranean. through France Sar-
(ini9 etc.. are immense olive forests mus, white
the rivers supply the fish, the olive tree furnishes
the oil in whirh thcy are preserved, and without
which, except III limited quantities. they Womb
have been - useless rs the moss bnnkcrs with
which frrtl.lze. ,
in former letter, ! snggested after the
passage Of the law rmoneJzIug silver. that
the whole question OF money standards
might advautagrously b, submitted to an
congress. ! am glad to see that such
an asscmhlagc IL contemplated al Washington and
abroad. Tho subject j. nf sufficient Importance To
be thus consi cred. but until we gel back to the
financial! ground occupied before 1873, We shall
be n no condition - assert maintain ne rights
and interests of country. IhUELo" WEED.
Ne,r- York Feb u. 1875.