The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1878-11-30
The Currency Pi 0bIem.

| Boston Trauei'cr =" At last we are going
to act on Greeley's maxim. The only way
to resume is to resume"
Cincinnati Times" We warn the Secre-
tary, very earnestly, that these twin schemes
of the decentralization of silver and the with,
drawal of small bills, will not meet with
public favor" -..tp.
Cincinnati Commercials" 1t would be un1
fortunate for the republie n Of the East IT,
they should insist upon toils that sill
yer is hard money. Ifthey e. M the
merits of single standard perhaJ
find it in silver"
Pttsburg LGadert-' The banks only
pose to enter into the same "conspiracyptl
California has practised for fifteen yea,
and value money at its real instead Of
statute value. If public opinion suppof
them they will succeed; if not, not. Al
that is all there is in the question"
Boston POST" Gold and paper cannot b
permanently kept on an equality while pay
per is at liberty to make endless rounds with
its claims to redemption, and coin Of anoth
er metal is legal tender in unlimited amounts
being also worth from ten to twenty cents
less than gold on every dollar" .. .,.,...,
Boston Transcript: -"The discrimination
which the banks purpose making against
the silver dollars is hardly in accordance
with law, yet without such discrimination
resumption on gold basis is impossible.
The most that can be hoped from the pres
ent Congress is that it will not make matters
any worse" ..,.... ..s,
Cincinnati Commercial:-" The crttsada
against silver will revive the greenbacla
monster. Coin not gold, is the wonl IN
the contracts-the word in the law Of inter-
probation of March 1860, and on the bonds.
When the word gold appears in the con-
tract it must be respected, but 'coini as an
expression did and does include silver dol
lars as well as gold,"' .'.' ra. =
| Cincinnati Enquirer THE national
bankers seem to think that the recent election
was a condemnation of the dollar Of, tho
daddies. That dollar bears on its brow In
God we trust. That is kind Of trust ma
tional bankers don't deal in over their cOups
ters. They trust only in available securir.
ties, such as colaterals or accepted indorsers
Intrinsic value and trust in God will be
hard to beat even by national bankers"
Chicago 1I'ibllne.--"The New York hank.
| ers, led by Mr.. Coe and acting in the inter7
est of the money lenders, have taken airash
step, and the sooner they recede from it the
better it will be for them. The proposition
to move en- mdSse against the circulation Of
/ IllC 1lOllVl BluulplSu W bhS uSSllt ~
enhance the value of their money stock on q
gold basis as compared with the value of all
other property" ri,...... ...r
Baltimore -"Reviving prosper7
ity under the operations of resumption will
| be an argument which must puncture their
bag Of wind and reduce it to condition of
collapse. The country will become satisfied
with sound and reliable currency and tho
mission Of the inflationistand repudIatonist
will vanish. The New Years Day of 1879
ought to mark the commencement of
brighter era for the Republic" .
Chicago Neles i-" The fact is, the plap!to
which the politicians have bound Secretary
Sherman is TO force out greenbacks and sill
yer, no matter what they are worth; not to
pay all notes as presented TO use notes for
current expenses and redeem them on prs-
sentaton, and let the oein balance and cur
rency balance take care Of themselves after
ward. This policy is anything but honest
and square resumption; furtherj it will sure4
ly fail; worse, too, it will put honest resump-
ton off indefinitely" ".. ,
Boston Advertiser ~" We presume that
most of the banks throughout the country,
will follow the leadership of the New York :,
association. In fact, they must do SO. The
banks in redemption cities have deposits in
New York, and cannot accept as bankable
funds'which their New York agencies refuse.
Nor can the country banks receiVeon depos-
it funds which their agencies in the redemp-
ton cities refuse So much can now be
accomplished by harmony of action, and SO
little but mischief can result from diversity
of policy, that the wisest hId most patriotic
, course is TO fallwth thercurrent.""
Richmond lWig-" The most remarkable
. and extraordinary circumstance of the fl
nancial situation is that the national banks,
which are.so insistent for specie resumption
by the government are practically exempt
from the operations of the Resumption act.
Their notes are not now redeemable by them
in either gold or silver, nor will they be
5 even when the Resumption act goes into
effect except at the option of the banks, II
,, they had been included in the act they would
not now be so ready TO discard silver as q
: pecuniary "redeemer" 1t should be the
care of Congress at once to remedy this de-
O feet in the Resumption aet-unless the Law
be wholly repealed without delay"