New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-07-26
THE A B C. OF FINANCE.
INTRODUCTORY REPRESENTATIONS.


TORY-RESUMPTION.
A year ago, specie resumption a great bug
bear which most people dreaded Many who knew
that resumption was duty and necessity were
not the less weighed down with fear, and wished
that the cup might pass from them. Solemn warn
ings filed the air. Things going to sell for
triie. The monster. resumption was going to grind
up the peoples bones and drink their hfe-blood.
For pItiless oneyenders it was To be daY of
bliss. The rich were to be made richer; the poor
were be made poorer; and labor to be crushed
and starved
The day of doom came six months ago. and we
yet alive. Not of the frlghtful things
foretold has come to pass Less property has been
forced TO sale than IN any previous half year for
long time. Prices higher, on the whole, than
| they were year ago. Money has not grown more
scarce, but for every safe and honest use more
| plentiful. More men and women are at work for
| living wages than at any time from 1872 to 1879.
The rattle Of mills is heard, and the blaze Of fur
uace-fres is seen, in all parts of the land where IN
| July last all was still and dark. The number of
failures and the losses by failures have diminished
greatly. New farms by the thousand prove that
toll brings fair pay to farmers; new mines, new
shops and mills. railroads and new houses, in
ali parts of the land, give work to mutitudes, and
bear witness that life and hope have come back TO
Industry ana tTa0e. IN snort, tue weary years VI
sinking prices, PROSTATE industry and stagnant
trade past and the country has plainly entered
upon a new era of steady recovery and sure return
| to prosperity.
No man will suffer himself to be cheated twice by
the Same lying guide-post. The people of this land
have TOO much sense not TO profit by the practical
lesson in finance which events have taught them.
Many, who have been deceived by predictions OF
| the harm to como from resumption, have turned
their backs upon false guides, and have set their
faces toward the truth. They have seen the dan
gers of resumption vanish like ghosts as we get
near them. Every word of hope, spoken IN behalf
of public faith and honest money. they have seen
verified The old teaching of conscience and COM
mon-sense-that honesty is the best pOicy-has
been brought home to the mind by the experience
of the past year. Now, surely, brief, clear and
simple exposition of the fundamental truths Of
finance. as they bear upon practical and pending
questions, may be welcome and do good
For there are still multtudes who spurn the
teachings Of common-sense and experience. Even
now there are men who say that resumption can
not be maintained.' that it VIII cost horrible
sacrifices. Specie payments, they assert, involve
endless risks do harm to labor and tax the people
for the sole benefit Of bankers and boudholder-.
More money is needed, they still cry; the paper
OF the Nation IN place Of bank notes or unlimited
coinage OF silver ms tead of gold. The banks, they
claim. wrong the people by getting double interest.
They insist that the Government alone ought to Is
sue notes, and that its paper made good solely by
its stamp VIII be the cheaper If not redeemed at all
and the better if PIT out without that limit rs to
quantity which redemption involves. To these
claims and others ike them, many voters
still give ear Do they not know that the
same men who say these things are those who
said that resumpt on was impossible, predicted
that direful woes unnumbered would precede or at
tend it Are these false guides, who have not once
been right in five years past, still to lead men Of
Intelligence
The series Of articles on the 4 D Of Finance Will
show what resumption Is, and what it has done. 1t
will show resumption can be maintained without
loss, or cost or doubt; that it ought to be main
tanned because it is wise as well as honest, and
cheaper than anything that can take its place and
that il brings, its friends have predicted, grow
ing prosperity. a solid footing for work and trade
special help 10 labor, and the exact stimulus that
is needed 70 lead the worker TO save his earnrgs
and thus 10 lift himself 10 greater independence
The simple truths OF finance, plainly stated, VIII
make it clear that the volume of currency can be
rightly regulated only by redemption; that the
banks give II service more than they get in value;
that those who clamor most loudly for " relief
only want more chance for the few TO fleece the
many and that the country really needs, not more
thinkers al Is laws. but more rest and quiet. and
good faith toward all.