The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-02-02
THE FINANCIAL QUESTION.

Congress approaches the financial
question with very evident trepidation.
or rather refuses to approach it all.
The repeal Of the resumption act is at
best, but temporary expedient for
the immediate relief of what we hone
and firmly believe is but temporary
interruption of prosperity. Indications
now are that congress will remonetize
silver and stop there-stop short of the
repeal At least, there will be no re-
peal this session. We have favored
nay, indeed, warmly adyocated-the
repeal in question, because We believed
that resumption in 1879 was premature.
The inflated values and the general
expansiyeness and expensigeness OF ali
business, "a well as our habits of life as
a nation. could not be reduced. within
the time named by the bill, sufficiently
TO make the smaller but far safer gold
medium the sole rspresen tatige of values.
That the gold standard will ultimately
prevail, we cannot but see. that it
ought to prevail, no sane or honest
man can OF will deny Int, in order to
render that possible, great sacrifices az.
necessary Are we willing tomake them
Should the resumption legislation fixing
the return to specie payments IN 1879
not be repealed or modified in some ef.
iectual way. the shock will be So grea,
that the consequent paralysis 10 buzz
ness will entail poverty upon the masses
all except the wealthy bondholders
ior fifty years. Are the merchants.
farmers. mechanics and workers of all
classes in this nation willing to see the
chance Of acquiring competency in
life destroyed nov, in order thst future
generations may he able 10 erect nni-
'orm and solid standard OF values in
accordance with the general views ~
the civilized world;
Men die by thousands TO establish or
defend the independence, or 60 guard
AMI protect some great principle Of
government This is called patriotism.
anil a Dod-gisen instinct il surely Is.
but an enthusiastic devotion to the
principle, nearly allied TO fansticism, Is
necessary. The pomp and circum-
stance OF war the delirious JOY OF tri-
nmph, the hope of promotion and the
possibility OF glory, with CRATE ''ul history
as the recorder Of martial deeds is often
one oil the chief, nay il indeed, the chief
incentive TO action. But in this n,stter
OF fifty years tug at poverty 10 feel
its grinding and repressiye power in
our homes, 10 see our wives aud chill,
dren IN tstters and half fed and
housed, to put out of our reach the
delights of literature. and the charms
OF that refinement and elevation which
has became necessary. BY cold-bIoode,l
voluntary sacrifice to the financial good
of those who are 10 live fifty years hence,
requires an amount and character OF
patriotism which we frankly admit we
do not possess. and we doubt If sufli-
Gent number Of people IN the United
States have il. to enable the bondbold
ers TO force resumption.
The burden OF return to sound
financial basis, must be divided he
tween all classes--the palace Of the mil
kcnaire and the howell of the laborel
must nike and in their degree share
u. Any legislation which is not based
on this theory will be dead letter
from the start, and il enforced BY
the physical power Of the governmen,
#iil light the flames of civil strife and
commotion from one end Of the nation
TO the other. In the plan represented
1 in the bill which goes into effect on ths
fourth Of March, 1879, the poor and th.
moderate people, who depend upon u.
daily supply u money produced b
their daily Labor for the grafifcatiou .
their daily wants, bear the burden, ant
the wealthy. who hold the paper Of II,
sovsrulnent, are the sole bsssGoiasiss
j Tho people won't Stand Il, sad IL nigh
! be we'll Tor the soTcrsmsnt 10 undss
I stnsd tais - o4ee II The hi i 10
repsalsd itsaverosipaannnt ~ eposass
4 - CDR - kesesr - III 49,
/ 49, ~ - O. ~ 8 IS