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

To THE EDITOR OF THE HERALD
This patty includes their demands sths repeal OF
the Resumption act. the issue OF Unreasonable legal
tender notes BY the government receivable Tor al
purposes, and the immediate payment OF the whole
national debt In such notes.p
Doubtless the party honestly believes that the in
crease OF legal tender notes to about 81 600 900 900
would make money abundant, give increased employ.
ment to labor and enrich The country Were the
members OF the party posted 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
SINE proportion and that circu alton OF, say,
$500 100000 would purcnssc the same quau-
NY OF goods or property So 900 600 OO0
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 Than prees Hence the Increase OF notes and
prices being greater than Increase Of wages the
working would be injured by the proposed
cnangc Although real estate and person,I property
of all kinds would average tho mere price named
the lands ana buildings and goods would not be In
creased in real value The TWO thousand millions OF
notes having only the same purchasing power OF COM
niodltiss labor the i've hundred millions notes
OF money would not relatively DO more abundant;
therefore additional employ ment would be given
labor and the country would not pc IN the least
rched.
IMPORTS EXPORTS.
Having endeavored to nlt the increase OF notes
increases prices ~ proportion VIII next ex.
pain now imports aud exports are Affected by hign
prices The relative he Imports and exports
vi country depends principally upon prices. Whea
prices high Imports ara relatively larger because
II Is prohtaDie to impoIt ana exports are relatively
smaller because dear goods cannot be probably
ported and hence gola flows out Of the country When
prices are low exports exceed imports anu gold flows
into the country. The inport ana export Of gold
commercai country ~, therefore. goverhsd ~ pricss
Inuss 10 fiow INTO a coSnsry where prices are low
prccs rise aud ut the Same time prices al Ia the
country from whence Inc gold flows. Ibis movement
continues until an equilibrium IL established or the
tide reversed between the two countries In tue lat.
ter case gold Commences TO return TO the country
from "honce u cam The qusEhiy oil money In each
commercial country Is, therefore, regulate ny the
natural laws OF supply and demand, and those who
Understand these laws VIII not attempt disturb them
oy substituting others.
We're The demands OF The national labor grecnDack
party enforced by tho foreign trade Of the cou-
try, especially tue exports would he almin,shed aud
and ne riy al ME gold and silver Ia the country
Gousrai B +. Butler stated Isw DAYS ago ",nat
the moment gold becomes more valu .us abr cad aud
being cheaper here will leave The country and We
cannot sto, tue export" L w prices cause gUid to
be more valuable AMI hlgn prices cause II to be
cheaper Hence, We nave power 70 stop Its export by
reducing prices High prices cause gold 10 be ex.
ported anl low prices cause l. TO be imported
Tho advocates o. nigh prices cenaand the export OF
the precious metals What the country requires IL
the reduction OF The foreign trade, but IT'S IN
crease fnc latter can 0uiy DO Affected by removing
could Do done with Usnada McKee,, the West India
Islands, Central ami South America, Japan, CHINA,
aud other countries The yearly exports OF Great
Brian TO Japan exceed Sl2 QUO, 0o0 aya INST about
$1,000 900 exported from This country. would DC
useful 70 PUBLISH table Ia your widely circulated pa
per showing the total truuc carried on between the
countries named aud England aud the United states
respectively The devciopmont OF tho toreiga ,rado
Is the only way to give fun and profitable employment
to unemployed skilled LABOR machinery aud cap-
tai
The following Glasses would DO ured by tho changer
proposed boniho,dsrs and all classes OF
creditors, annuttunts, farmers laborers, mecnanics
c,erks an, si 10 receipt OF Wages and salaries. the
rise Ia material ana wages would diminish building
and 9th provements. iue uign prices would drive
people OF moderate Out oil thS country ana
vent 4 siaar class from coming In. rue classes
der woull De penetted:-Dr Otots, especially mortga-
Ror hose whose debts extend over N long time;
insolvepts, spcculators ana political adventurers,
merchants hold their stocks until tho rise Of
prices takes place. J. G. N.
BROOkLYN, July 81 1873.