The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-04-13
RESUMPTION yAGARIEs

The secretary Of the treasury and The
syndicate have said IL, and tho country |
must endeayor 10 do tho immense busl-
ness which presses II on aepeole basis,
when there Ia not gold aud silver
enough in the universe 10 answer the
purpose, They have arranged to issue o
hundred millions Of four per eenls,
fifty million 10 DO placed At once aud
five millions month afterwards unhl
tho remaining fifty il thus disposed Of
This action Of the secretary is indicative
al The sonso Of congress on tho subject
Of the repeal Of the resumption act, and
well may II excite y thrill Of alarm IN
tho west and south, who are thus made
10 confront universal bankruptcy now
thus getting ioretaste Of the torlureH
which are surely 10 come after New
England with her stores OF bonds ana
the specie annually paid her in Interest
upon them, and with her rapidly de-
olning trade aud consequently lessened
need Of an active circulating medium,
may contemplate the approaching oil
max with every confidence, while the
south and west with rapidly inereas'
ing need Of money, resulting from q
vast increase Of trade and production,
and with the money balance already
heavily against them, eau only eonlem"
plate resumption with the same horror
that the dying man regards the dark
waters Of the Styx which roll N
troubled pillows TO his weary feet The
south has made maniul sirug'
Gle since the war, with every
natural obstacle squarcly against her,
M we'll M all tho artificial impeachment
placed In her way by doyillsh refine
ment Of hoartess cruelty, Now, altcr
fifteen years OF appalling gloom, the
first streaks OF day and hope ara to be
darkened by this fatal iallacy oIresump'
ton, and all her woes are TO DO doubled
aud intensified indefinitely,
o, that the potency OF the bond'
holders combination might be broken
o, that the lunOcy which conceived the
idea, and the rccklessnoss which is now
driving II on to the completion OF its
balclul task might be relieved, and
turned aside by the groans Of our dis
tressed section, With oW rich fields,
titled by eager workers, with our towns
aud cities teeming with the staples of
life, with our ability TO supply the pri-
mary wants OF the world in food, cloth
inc and shelter, we are thus TO be
doubled back for fifty years, and from
u bankruptod business, bemoan the
evils which have come to us through
the greed Of u people who have contin-
ued TO thrive even ON the distresses Of
the land, and who have always man
aged to coin oven the blood drops OF its
devoted soldiery into dollars and bonds
which are now to be used to chain
them to u moro hateful slavery, than
that which was destroyed when the
confederocy laid down its arms Is it
too later Has the time really passed
when areprieve may be granted2 Must
the poor grow poorer, while we build
up u monied aristocracy out of the
passions and plumbers of war?
In twenty-five years from the first OF
January, 1879, the country, by careful
management of its finances, might be in
n condition to resume specie payment.
Our policy must, for that length of time,
be such as to invite tho requisite gold
and silver to our shores. Not such rs at
present to drive il away. The remoneti.
cation of silver was all right IN its way
as a measure of relief, but it was not O
drop in the bucket rs compared with
the deficit between our business wants
and the money on hand to meet them
Well may the country stand in awe be,
fore the hurricane of bankruptcy which
is quietly but surely gathering in Wal
street and in the treasury department
to burst upon the country in ungovern
able power and wasting fury Gran
sold out to Wall street and Wall stree
is rich enough it seems, to buy also, oui
financial secretary. What care the par
ties to this nehrious scheme if the soutl
and west grovel in ruin and grow up il
weeds for tho next two centuries, 80 thu
present bonds held by New England
may easily and at great profit b,
turned into yellow gold or elitterinl
silver. If this consumation is had, ca,
our democratic congress disclaim re,
sponsibility' We fear not. They Ger,
toinly did not inaugurate the scheme
but they had power to destroy anc
have failed to use that power Tor tn,
good of the present and future alike
The people will not hold them guiltles
who have the means to relieve to thei
own hands, and refuse or fail to us,
them.