Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1878-08-08
The Currency Question in Politics.

The letter OF The TribuRe's correspond
ent about Maine politics, printed yesterday,
calls attention TO n fact of the frs: import
ance, which We have repeatedly stated,
out which is overlooked or ignored hy
nearly all advocates OF sound financial doc
trines. Ii is this, that the currency Ques-
ton In this country cannot be settled either
by the sure approach of resumption or by
actual resumption Itself. For il is the old
contest between ignorance and knowledge,
between honesty and dishonesty. between
shl ltlessness and thrift.
A. long - there are persons who spend
all for present enjoyment, aud save moth
I ing. there Will be some who want To rob
thu who have saved property and enjoy
It's nuts As long ss there are persons
who want TO escape the payment of debts.
or to live without earning living. there
will be some who favor dishonest schemes
OF finance. As long n there is such ignor-
snce 10 the land that msny persons believe
life can be made easier aud toll cAh be
| lightened by the use OF more paper money,
so long there will be honest aud sincerely
benevolent. though utterly mistaken, sJvo-
Gates of a sort OF currency which resump-
ton cannot give. aud which can neither be
got into circulation nor kept in circulation
II resumption Is TO be maintained. For as
long rs a paper currency is redeemed In
coin on demand. Its volume will be regu-
lated by laws more potent than any Con-
gress can enact; whenever Its amount ex-
ceeds the real needs of the country, part
will be presented for redemption. and gold
will be drawn out for It. There Is no es-
cape from this law. Redemption means 3
strict Limitation OF notes to actual needs.
But the people who believe that prosperity
can be created, toll lightened. aud life made
easy, by forcing more paper Into circula-
ton, are hostile 10 that Limitation. aud
Will continue as hostile after resumption
as they are before.
Trimmers OF both parties have INDUCED
the notion that time aud the progress of
events would soon rid them OF this agly
question; that resumption would come In
due time, and then 1t would be out OF the
way" that they could escape present un-
popularity by temporizlng and lodging.
with 8 certainty that settlement of the
question would presently spare them the
necessity OF having any definite opinions
or conscientious convictions about 1t. In
this spirit many platforms have been
framed. In this spirit very many WHO call
themselves statesmen have acted. They
have tolerated the most mischievous here
sizes and stopped 10 wheedle the most kna-
wish regulators, hoping that resumption
own, and regain their self-respect That
they are 10 be pitably disappointed. the re-
cent manifestations OF the Greenback-La-
Dor party prove. We are not 10 have an
end OF this yexatious question until public
opinion has been educated by thorough
discussion. ln the progress OF that great
debate, the trimmers will be forced o take
sides, and a great many OF them will take
the wrong side for temporary success, and
will presently leave public life for the pub
lie good.
1t IS well for the Republican party OF
Maine that il has determined 10 make
manly and aggressive dghi on this 9ues-
tion. There can be no better time 10 meet
it. As long Is gold commanded consid-
cradle premium the honest and the dshon-
est opponents OF resumption irsisted that
il was not possible, aud that the attempt TO
lin the purchasing power OF greenbacks to
that OF gold would surely cause immeasur-
able distress aud general bankruptcy. On
this plea they gained the support OF a great
many timid men, who favored resumption
a. a matter OF honesty and of permanent
policy. but who were afraid to face the
consequences iii should be attempted soon.
Within the last year We have seen gold
sink practically to par. The dreaded guli
has been olidged, and the predicted disas-
leTs nave not come. Dut now IL appears
that the opponents OF resumption are even
more hostile, since II Is plain that resump-
ton Is possible and easy, than they were
when they pretended that resumption would
be impossible, and the attempt terribly
costly. Now the true character OF the OF
position Is shown. The fears OF the timid
are allayed. The naked question, "shall
the country have a sound aud honest cur
rency:' can be discussed without any
alarm as 10 the disastrous consequences OF
resumption.
"Dirigo" is the motto OF Maine and that
State ought TO direct In this particular the
Republican canvass In all the States. IL
has begun well, IS the proceedings OF yes
terdAy's Convention az Portland show.
sfhe platform and the speeches OF Senator
Blaine and Mr. woodiord are s ringing
declaration Of war against the regulators.
Now let the example OF Maine be followed.
manly. outspoken aud Incorporating
warfare against the greenoack heresy In
every form ought TO be opened wherever
the Republican party seeks 20 establish It's
power. There Is no other way. Until the
people are taught that ''niore money" cam
not cause more prosperity, or lessen the
toll OF the toiler, or narrow the separating
gulf between itch aud poor, there viii al
ways be vast army Of honest but mis-
taken men TO reinforce the knayes and re-
pudlstors.-N. Y. Tribune.