The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-03-27
CITE 9ailg Areas,
ROCK NEUTRALITY-SUSPICIOUS.
Easy Resumption.


At the present time there are three
kinds of legal-tcnder money in the country
gold, silver and greenbacks. These
bear q curious relation to one another.
Gold ia worth per cent. more than green
backs, and greenbacks are worth 3 per
cent, more than silver. although gold and
silver are. in law, equal in value. Resump.
ton means the equalization of values be-
tween the notes to be redeemed in. Tore
sumo in gold, therefore, we must raise the
siIver-and we have the option which coin
we will resume in-we must actually lower
the value of greenbacks per cent. It
will be slight strain to resume in gold,
but it will be relaxation to resume in
silver. In fact, we have resumed specie
payment In silver already, and by few
simple measures that will cost nothing, we
may resume in gold also All that is
needed to effect this is to destroy the
present disparity OF l per cent, between
gold and greenbacks That done, gold,
silver and greenbacks will all be of even
value; gold will not be desired or demand
ed for any special purpose, and we shall
have passed unconsciously into resumption.
| How can this be effected?
Secretary Sherman indicates the pro-
cess. We have. he says, already prae-
tically abolished the premium on gold, land
in addition to this we have foreign trade
that leaves an excess of 100000, 600 per
annum in our favor-our exports exceed
| ing our imports that much. Now let US,
the secretary proposes, make greenbacks
receivable for the bonds we are selling, and
make them receivable for duties also
This will remove the last iIfrmity
adhering to them and make them equally
valuable with gold and silver. Nor is this
all. If the people can buy per cent
bonds with greenbacks, the sales OF these
bonds will be stimulated, the people will
invest their savings in them, end the
secretary will be able to increase the
amount of per cent. bonds he is calling
in for payment. Every per cent. bono
sold involves a per cent bond paid
with a saving of 2 per cent. interest.
There is no popular objection to selling
the per cent. bonds for greenbacks, Boil
are popular measures, and their concession
by the secretary Of the treasury is 1
yielding to the people. Their effect would
be to equalize greenbacks and gold-tt
deprive gold of that special magic valu,
which for sixteen years has placed i
! beyond the reach OF the people, and brinI
it down to level with the popular money
But equalization is resumption. The
moment the present premium of l pc
cent. on gold is destroyed, that moment vi
shall have accomplished resumption. ant
released all the gold and all the silver il
the country from Imprisonment. Sucl
> resumption will not be tension; it will b.
i relaxation, and the country will feel thu
better for it. Business will begin t
: revive On the stable basis thus provided
: industry will look up, enterprise vii
: venture forth again, and capital will begil
to cast about for investment Ever,
consideration of self interest. then, de
mands the painless resumption whicl
would come from making greenbscks re
ceivable for bonds and customs duties, AM
; congress ought not to hesitate to do wha
the secretary Of the treasury recommends
= st, L. Rep.