New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-16

those standards OF financial values anu 10 t"o9o WI"
mercial usages which prevail throughout tho e'i@e'
world, as the results OF the experience Va ' w.
turtles. :,
A nation or an Individual who borrows money may
strong enough resist coercion or Willy enough 10 o
pursuit avoid payment. but certainly the deiae1 "a"
never again obtain money from or have any dc'lings
with those cognzant OF the original transacl2n saw
terms stringent as u prtciuue t' for
| REPETITION Of the knaVery ana secuie ici"i" ~ IVA
te LOSSES u we rjbe cut off from the rest OF the world
nv tho forest or the ocean, agree among themselves
that cOwry shell shall pass current Ior a ps or GOV"
for hundred o. them put Wheh @ yne upon
cowry shells among them for the purposes Oh uaue
tHev will inevitably refuse accept them at price be
vond their real value elsewhere unless they happen to
know of other simple races having something 10
sell VINO will take them at the fictitious appraisal
Now this affects the agricultural anu nanulactu,ms
classes of the West and South quite as muc as IL uo
the commercial classes OF the scapoaIu Uieso Wst
merce can dispose Of the surplus produces OF INC WIS.,
and South their interests must lanxs, suit ANU b u
ISL. The commercial men canhot use Ny That
abroad nor they, under system Wh!ch ene,s Una,
home of objects purchased abroad under system which
provides that dollar shall be Just uoaI, un "o,,, ,
cowry for dollar, in tie sale Of his srain ne VIII NM
when he desires to expend IT 40 me store hv ne w" ~
intrinsic value and "A dollars worth for the simple
reason that the seller cannot afford TO make him pres
| ent OF tine difference in value. $500.
inc reason why the egali endcr notes deprecated so
drnca I'm inc ability OF the Government 10 redeem them.
As that confidence increased aud approached eSrta'
SO Che difference between lcgatenders ana gold dihn
ihed and the feeling Is universal that tle
government can and speedily WILL redeem them in full
in gold then they will be at par The legatender pa.
ter money never had intrinsic value III itself any
more than the cOwIy shell; lis ony Naie mas Wv
greater less confidence that 1t would finally De re-
1he ease may be briefly stated thus II is our interest
TO fund the debt at the lowest possible rate OF interest
III order to diminish the burden Ol taxation IL i oui ~
ercst that large proportion OF our onnGs ,nouu nv
held abroad, III order that the money paa ior .',
remain in this country and increase me amount o Iu
available fof domestic uses 1t Is oar Interest 20 ce'c
10 the greatest praotlcaDlc eAi'n our , NV - ~
tons with all parts OF the word III order 10 c,,oe %
our surplus products. obtain what We need OF iho7e %
other countries ana for curse the profits re-
sutng from the transaction; II Is our interest," !" Ic
currency. circulating medium, on sound hhSl~: Wcn
VIII prevent unnecessary, frequent "ni "M!' ..lmorJ
fluctuations of values and to adopt the same ahlaI"
mercia transacuons finally. ;hc grca; object OF all
it isour interest TO hasten the return oi cohiocii '
curity industry economy ana prosperity 10 o"' '"'7
If this view bo correct there he Doubt that The
me the convection that II Is dniy io cypress '
clearcst and most decided tcns rcprohaion Of al -
TENNIS 10 violate the sacrcnrss of Obligations To AVOID
The payment any portion IF oar '9si debt To- iHiaii
the National honor and credit or 10 declare ny IA" "'
n part OF u dollar snail, be whole dollar
SILVER.
There Is probnby grave objection 10 tnc rcmone-
zaion of silver within proper limits. that Is 10 s' 1"
making 1t Icgalendcr for small amounts. Is 10 Sc
cure its use small Transactions and for convenience
In making chang But in this event the silver dollar
should certainly b. made equal. in present value ~
least 60 the gold dollar. AMI in that case 1t Is not Poh
bic that the inevitable fluctuations would produce any
very serious incouye II nothing is done 70 impair
confidence in the National credit, TIE road to
pro.rertv and the lcgacuder paper money viii soon
0e So nearly al par that specie payments VIII NC "'
tcally resumed. 49,,
National Government Destroying the fciinS or srcuf
the part of the investors capital VIII soon -cc1 tu
pluymcn,, shall the first steps toward, "ni
The first fruits OF returning prosperity III an Improve"
condition Of the working classes
But If The proposed measure becom"s liw, h winch
a silver dollar, really worth only about ninety cents
kdeciarcI 10 be lcgaltcnd,r for go'l dollar n all
|
turning confidence will b. destroyed, AM hlp" sifith
at National honor and credit from which "c " no'
recover for long years and then not before have
passed through series Of otmcs, lose" AND d.
honor that no lover oi us co"a! cHi' 10 c"hcInll'''
Between government ana IT. creditors, all questions
should be determined only on lincltS m We H-Ar'l
honor AMI hon, ,y ana IN me more we .t ''
has power 20 enforce hs NIGHTS br law. SILVER naS
long been "a metal Of varying value. ara ihr honor "i
goYcrHn. mis- has nc'n feIru on Wht"rAt ''l w, W
made legal tender. 10 cIuaze The value 81 IT. silver
ctain rcpuiaiion II he wien thus relied 10 10 com
mon honesty failed al the moment of p1yuE Lis deb
,aWS.st,at :, ,and. have oqYiagr1 tcew-cLons
not doubt that all members 90 the Legislature agree with
the earnest desire that Congress promptly do
object 10y IN whatever restrictions and mped
mcnt, Of any Kind existing laws may offer
We have also Al mme iatc concern IN such revision
cntion remove every mnnrcis-ry bnri,i nni imicd
mrnt nom home Industries reduce 10 the greatest prac
c2br 81 M the pwer o. aIii' ,, On v, ing IE
Tho greatest possible number Of tie people.
TIE PRESIDENCY.
Within year events Of grave magnitude have taken
place N regard 20 the residential election, which oyc
that the regulating such e reons. AMI raining
their results insufficient in thcil pre-, 70 form.
\ majority OF the people Of this country Gel that
great wrong was DONE and that serious complications
perhaps even ciy avoided only ry the fos
bcaraucc and patriotic spirit Of The arts which uuIouH
cdy cast the majority Of votes q; the c .oa N gus
tom The country cannot afford the repetition uf sue,
see % iS
Tie STATE Of Scy Jersey. in common win each oi her
sister Stai,s has the night, AID IT her dul, 10 uIc
through those VINO represent her in tie National coun
els, that this grave aud faircachnS question -a'ic-
al the Lands OF Congress surh wl>r. deliberate
ami searching examination shall lead - to- cdac
when the Constitution va, adopted These laws -roud
furnish qua aucr III the future TIM thr voice oi inc
OF Inc choice 81 the Chef Executive OF the Nation shal
be pi iced beyond the reach 81 cmcanrry nd fraud
These laws should also be sc ihat h9ne may l9ubt NE
fairness OF the result reached ana the ulerHion 90
necessity to take Mp arms ia defence Of the uurty 81
the ballot boz and the expression OF the peoples viii be-
come impossible
MISCELLANEOUS STATE TOPICS.
The Governor then spoke of the hard times. aud
said that the State could do little 10 help MATTERS.
except by practcing economy but that il should do
that. He continued:
The condition Of the working classes. and the quc,-
of their just relations with employers, certainly
the most important Of the present and the future.
prosperous times less is heard OF it, but with every
recurrence OF financial pressure it rcappcar- The sub
ject is so complex delicate that II requires thorough
knowledge Tor its successful treatment ana lis import
such that LEGISLATORS should seek Ia proper
understanding of IT, in order that they do
whatever il practicable toward liz solution. Among
other states, Massachusetts has taken hi, matter
in hand through Bureau OF Statistics Of Labor.
Although | fully recognize the fact that the
and most direct remedies for the present ulsals
factory condition Of The aborng CLASSES p he sought
in general economy and In sound financial measures yet
commend 10 most careful consideration This qucs
ton of tie relations between abOfcrs aud employ
with the confident expectation that, through the '=ah
lishueD OF Bureau Of statistics otherwise, you viii
be able to devise simple and practicable method Of
cOllaing such information will serve guid; for