The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-29
THE NATIONAL LABOR GREENBACK
W PARTY.

To THE EDITOR OF tn. HERALD:-
This party includes IN their demands "ths repeal OF
the Resumption act the issue OF irredeemable legal
teudsr notes BY the government, receivable Tor all
purposes, and the immediate payment OF the whole
national debt In such notes.o
Doubtless the party honestly believes that the In
legal tonder notes to about So 600 600 600
would make money abundant, give increased employ
ment to labor and enrich ,he country. We're the
members OF the party postea in political economy
such demands would never have been made, because
they would know that the OF tho circulation
of notes or coin would increase general prices shs
SINE proportion, and that circu alton Of say,
$500 900 would purcnssc the same quan-
NY OF goods or property as So 900 600 900.
The increase OF the circulation, although
IL would not give increased employ meut TO labor.
would increase the wages Of labor but in less pro-
portion prices Hence the Increase OF notes and
prices being greater than increase Of wages the
working would be injured by the proposed
cnanga Although real estate and personal property
of all kinds would average tho increase price named,
the lands ANA bu dings and goods would not be In
crea ed in real value. The TWO thousand millions OF
notes having ouly tho same purchasing power COM
nlodiliss labor as the i've hundred millions notes
therefore no additional employ meut would De given
labor and country would not DC IN the least enc
rlched.
IMPORTS EXPORTS.
Having show nlt tho ncrease OF notes
Increases prices tho sumo proportion VIII next ex
pialn now imports aud exports are Affected by hgn
prices The relative amount the imports and exports
vi country depends principally upon prices. Whea
prices are hIgh im pors relatively larger because
il IS prollaoie to Import and exports are relatively
smaller because dear goods cannot DC probAbly ex-
ported and hence gola flows out VI the country. When
prices IRE exports exceed Imports and gola flows
into the country. The Inport ana export oi gou VI
country 49, therefore. governed By prices,
but prices iulusncen ny goid Tor when lold con-
tinues 10 flow into u country where prices are low
prlcos rise aud ut the satno time prices ia IN The
Tram vhance tua pnlu NuWa
continues until equinUtiuui IS established or the
tide reversed between The two countries ln tue lat.
ter gold Commences to return to the country
from honce IL cam the QuaEtiiy oil money In eacn
commercial country is, therefore, regulate ny the
natural laws vi supply and demand, and those WHO
Understand these VIII atompt TO disturb them
oy substtutin. others. ~.s-
We're the demands OF The national labor grecnUack
party enforced by law the foreiga trade Of the coun
try especially tue exports, wGuid inished aud
aud ne riy all 'he gold and silver IL the country
Gousra B =. Ba.cr stated lew Gays ago ".nat
being cheaper here viii leave the country and We
cannot sto., the export" NV prices cause gold to
be more vauabe amt hlgn pricss cause IL TO be
cheaper Heucc, nave power TO stop ITS export by
reducing prices High prices cause gold 20 be ex.
ported anl low prices cause II TO De Imported
Tho advocates nigh prices demand the export OF
the precious metals what the country requires IL
Ito reduction OF The foreign trade, but IT'S
crease. rnc latter can ony DO affected by removing
restrictions We're this done, vastly greater trade
could oo done with Canada. Mexico, the West India
ana other countries The yeary Exports ., Great
Britain Japan exceed ST., 0O0. 000 against about
ST. 600 900 exported from this country. IL wooia BE-
useful publish table Ia your widely circulated
per showing the total truuc carried on between the
countries named aud England aud the United states
respectively. Tho dsvoopmont OF tho foreign trado
Is tue only way to give fun and profitable employ nent
to our un employed skilled labor, merry aud capt.
tuL
The following classes would DO injured by tho changer
ortgagces, bonjhoders and all classes OF
creditors, anpuitunts, farmers, laborers mechanics,
clerks am all IN receipt OF wages and saisres The
rise In material xrd wages would diminish building
and 9th provemens. Tue uign prices would drive
people OF moderate means oil country ana pre-
vent similar class from coming in. tue classes
der wouII be penetted-DrOtOts, especially mortga-
70 rs snu hose whose debts extend long time;
insolvepts spcculators ana political sdventurersy
merchants who hold their stocks until tue rise OF
prices takes place. ]. G. N.
BRoOKLYN, July ~ 1875