New-York tribune., 1879-01-01
OPINIONS ON RESUMPTION.
,rrTrRs FROM PROMINENT MEN.

4 T.. DODGE, fOSlMAslIh Jh"isS'
| PALMER, JOHN THOMPSON, II. h. THuRBrR
AID y. S. WINSTON.
m, Christian Union TO be issued to-day will con-
\ -, lo,tcrs from some of the men best known in
,bis city for business experience and integrity,
| Opon the probable success of the resumption of
snecie pavments and its effect upon the commercial
| interests of the country. From these letters
written i'm response TO the request of the alert and
enterprsing Editors of The Christian Union, liberal
extracts are given below under the names of the
writer's:
WILLIAM A. BOOTH.
There IS far less dstrust among financial men IN rSa
ton resumption at tnis time tnan tucre was Iuc u9
previous To the resumption in le1I ana tnnK tnelc Is
now more confidence that specie aS Senls may a., % hot
ilne. '''
JAMES BUELL..
can present in the financial horizon
10 defeat resumption The Secretary has ample powers
and ample means az his command, and best oi an
snce trade Is largely in favor and all the great
staples Of the country are lower or as low MS they were
before the war, and in fact they have resumed so 10
speak.
JUDGE NOAH DAVIS.
The danger is in Congress. In this country We can
stand bad laws il thev not constantly changing from
bad worse. If Congress- were not IN session and
so%u a M M S an anxiety will opprcss the business com
munty, like the fear that hauns people who live next
everywhere unite prayer Congress to let things
aone The war on the National banks Is another
who recoect the reign Of the wildcat" and red
dog currency Of the past lnow what ia likely 10 come
nobody in what Natio, bank is located.
Every bin is the equal of every other OF the same
denomination. Even If the bank be broken the bill
passes for Uncle sam takes care Of il at Washington.
SGyep ye al ,e G CT onc Sas sn
dollar been presented and not redeemed This safety
and confidence must not be disturbed by rash and reck-
nation rated higher tnan the security of the people
lcieve of sound prosperity is before the coun-
~ aud all tne souudcr Its slow and gradual ap-
p~ogch Manufaetuies are rising-better things are
Gdc; and hereafter We make for ourselves and shall
not buy Of others what VIC can make better. We arc
aTr Of ceny eepcc Hmerca win be- the great
icerade Nation Of the world, and Eugand, Franco and
protection. We ONLY to be ndexiby TO honest
aoncy. honest mon and honest principles to make re-
IImption successful and our future secure.
GEORGE :. COE
1 take pleasure in saying that resumption is already
n accomplished fact and there seems 10 me no good
commercial conditions in the highest degree favor
the country, all unite in aiding the movement There
also an earnest purpose on the Eart OF banks and
establishing the commercial STANDARD OF the world, as
vel in home as in our foreign trade.
WILLIAM Z. DODGE.
Ihave fun fah IN the success resumption and for
Che following reasOns
t. The country has been anticipating ana preparing
fcrIt the past aud we shall enter upon 1t
with perfect ease and without any excitement.
ID. There are but two parties on whom the burden
OF resuming and maintaining specie payments rests:
the United States Government and tho National banks
SHES holds Government bonds us security for the
hopa o S@s Of Sno banks and f tho TTeasnr Of
the United States has prOvdea specie fund larger IN
he pSgrerate when was held 6y the ddercnt banks all
over the country before the war And the cOnndcuce
mcnt and the National banks held by the people is lar
beyond anything ever known under tAe old State bank
system, wnen the country was Hooded with paper OF
which the general public knew but little.
Sd. The long depression through which we have Dcen
passing greatly facilitates and has paved the way for
resumption.
manufactures have late changed foreign rela
Tor long time to come will be such as to prevent heavy
shrments OF specie TO other countries oo,o %
render a corner IL by Spectators impossible. have
uo doubt of the success of resumption and result
general revival OF confidence, with gradual Du sure
return to prosperity
POSTMASTER T. l.. JAMES,
The fact that resumption has come OF Its accord
md without being forced or aided by law is the strong
est proof of the wisdom OF thOs0 VINO dceneu IL heces
aE S secy ny T G m sound and srgtoT
expression OF the people In favor Of honesty ana
is alrraiy dcmonstrated by the adoption Of gold pay
mcmts IN business circles during the past week As to
as resumption viii undoubtedly he beneficial TO
merce and business of all kinds thereby increasing The
need for additional postal facilities the revenues OF the
postal department Will be propOIuOuatey increased
f. A. PALMER
In reply to many inquiries the probable chances
Of the Ucd states Treasury and tie banks of this and
other cities rcsnmng and c"ntinung specie payments
on and January 2 1879: from lops and varied
cYrcrienee in business in hs cityfOr shout fifty years
Il think the business of this and other ces fully
agree upon the necessity Of resm1E specie payments.
although dsapprOvng OF the passage OF the resumption
law a Of tine lime that II should go INTO
lost TO the citizens Of these United ststi the shrink
age of values of all real and personal property tah inc
the owners OF UGited States bones cannot fall much
short of $500 100000. caused mostly by unnecessary
fears that wEen resumption should take place values
would be 90 uncertain 'ha no person Would guy @ thtn
will Ia,
aud see no reason why such payments sha not
continue provided the Secretary OF The Treasury eXe-
1s.sfne powCrs conferred upon BIN without auy hin
drance on the part OF Congress.
JOHN THOMPSON.
cannot doubt TOR moment that the people are In
specie basis for our currency AID credits and
fully believe all VIII JON III the good work and
iccaltender curcncy-gold CON- the standard silver
dollar ana greenbacks. Legally, ard for esai-tender
gaiucd. in business point Of view, Jy dlscrlhinating
against either class but in financial point much g3od
will result by discriminating III favor OF the gleehDacks
IL. K. THURBER.
] have doubt that the resumption OF specie pay
ments has been in measure discounted Almost every
thinking man bas seen ior tne ESt year Ine EIcau I'M
pIOvcuent the credit OF the Government -enaDlng
Secretary Sherman TO noat per cent oanAlne NON
imports. All this has shOwn mat u was gong 10 pe
an easy resume specie payments, ana our aOlc
Secretary OF the Treasury was not the man 10 et 80
favorable an opportunity pass Therefore probably
the mater made up their minds that would resume
specie payments without financial cOnvulslon Yet we
fha ali bftdlhe lfctT ~ amer JANUARY Iot
few months, every thing moves along quietly Ihen
shalt begin feel the full effects OF being on SOUND
financial basis
f. g. WINSTON.
!. Resumption has accomplished these great results
Anticipation of Il led the trustees OF our SOUND e lnst
tutions who of experience and dlscreUon 10
far practcable the cNtlaNagthi assumptions
and Of the Of uiatOn ana SO 10 arrange
their business and rs TO be ready IOr fesunp
iInn whenever il Should come q Resumption now hnds
kuch cOnpaues with assets worth par III gold or wh
aI iptlesima fraction and fully able 10 meet all
fheir obligations. 8. Resumption at TINS uEe WIN
general revivng over the and the ptut SIh
debt individually before, the country dcFeoi-
ing lts productive capacity agriculture aud manu-