New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-12-24

or bullfozesl bv the meant 1ess aud frnfhy cant
about hard. p" soft and ' honest money.
Icannot in any way 30 effectualiy expose tins
species OF cant as by referring to Republican
meeting Ct Cooper Institute of last year at which
Its CHAIRMAN IN an opening speech exhibited Ia the
audience a Continental note. VITA which the SOL
diers Of the Revolution were paid. the inter
worthlessness Of which he found an argument
against greenbacks, The chairman of that meeting
was Ontdone If posi- lie by the distinguished orator
who succeeded him, and who prodrred and haunted
before his hearers "A Confederate bank note
not worth the paper and ink IL cost. and only
useful acmOnition against iredeemable
promises to pay. The force and fitness OF this ar
Eument may be gathered from the fact that the
money were those Of the National banks and the
Government. IL is due. however. to the eminent
chairman and orator referred 10 to say that they
drew their financial inspiration from onr leading
Journals.
The action of the Supreme Court of the United
States upon the eg3l-teBder question is looked for
with interest. The Hon. Mr.. Chittenden OF Brook
Ign. confidently anticipates decision declaring the
notes unconstitutional. Without Indulging in spec
ulatiOns, incline to believe that the Court viii not
only find full occupation but will best consult its
own dignity in hearing and deciding actual instead
OF hypothetical cases. Mr.. Chittenden, meantime,
sbonld content himself with irrepressIble hostility
IN the House of Representatives 10 silver and green
backs.
The enemies OF silver are 80 numerous and for
midabie and their misrepresentation and perveT-
sions persistant that IL necessary to
call some important facts connected with the
tfoversy, From the adoption of the Constitution
Unth tIt demUnetlZdtlOn OF silver. IN 1913. the
huctuatiOus in the market value of the precious
metals ruled more than half of the time in favor OF
silver. When dem0netlzed in 1873. Mr. Knox. the
Controller OF the Currency. informed Congress that
silver coin was 3 Der cent higher than gold com.
When the LATIN Governments established the single
standard they commenced selling silver bullion in
such quantities a would necessarily diminish its
value in the London market In this country the
banks, the capitalists and the press attempted to
Justify its decentralization by depreclating its vaue
and demanding a discount from deposifOrs Silver
roi tleDrpciafei
dred 10 those by means of which gold was appre-
ciated. The in bath eases were artificial
aud arbitrary The object abroad and at home
to increase the purchasing power of gold' or
in other words 10 secure an undue advantage 10
capital over labor. Until silver was thus
artiiciaily deprecated. the coinage relation
between gold andsver gave full silver dol
Jar. When. as in 1873. more silver was required
10 make It's dollar equal TO gold. Republican Ad-
mnstratiOn and Republican Senate should have
come to the rescue. the Wings did IN 1897. The
DemocTaticparfv, IN a Crisis OF commercial, agri-
critural and manufaci nrirg disaster and alarm,
der the lead OF President Van Buren, and Senator
Benton forced an exclusive gold currency issue.
Il was that we-remembered crisis when specie pay
ment was suspended. commerce langnished,
spindles and looms were stopped and labOrers
sought in vain Tor employment that Mr.. Van
Barren was credited with saving " that those who
traded Oh borrowed capital ought to fail and when
the Hon. Samuel BeaTdsley, Representative IN Con-
gress from Oneida, exclaimed " Perish commerce,
perish credit perish all rather than take one step
backward Then "a now, bank notes de-
nounced and stigmatzed as rag babies = the
DrmocratIc party-ihen allDowerful IN our State
passed law prohibiting the circulation OF bank
bills under the denomination Of 81. Then as now,
was early, earnest and fearless IN resisting that
effort 20 increase the purchasing power
Of gold. Tue issue, then 5 as now was
Ip1n that issue We elected an over
whelmingly strong Wing Legislature in 1887, and
ia ISIS small Bal y Seward was elected Governor.
Tie BOurbOns of that day. learning and forgetting
nothing protracted the Issue until $40 when We
G ected a Wing President. History, II the BOurbons
OF the present day persist III their warfare against
silver ana greeubacs. will assuredIy repeat itself.
The tact revealed by the official canvass. that IN
the absence OF al existing prOy0caiOm and without
organization ar effort, more than 2uOoO votes were
spontaneously thrown away upon a Greenn back can
didate for Governor. Is straw OF more than
ordinary Significance. The Republican party
should be admCnished. by tine lesson winch
the war greenbacks m Maine teaches. That
State reliably Wang and Republican Tor more than
thirty years nae been imperiIled II not lost, by
grAtuirOus aud wanton crusade against green backs.
That crusade, besides costing Eugene Hale his seat
is Congress. prevented choice OF Governor by the
people anu what Is still worse, the utmost Efforts
Of Senator Blaine and other leading Republicans
are required 90 thwart "a scheme looking to
fraudulent choice of Dem0cratlc Presidential
electors. The best and truest Republican State IN
the Union has been thus demOTallZed. hat men as
experienced and ordinarily n sagaciOus rs Senators
Hamlin and Blaine should have been 50 infatuated
II TODD for reflection Those eminent politicians
on other occasions were not slow in discerning puD-
he sentiment nor when rs III tins case. that sentl-
ment was responsive 10 the pubic welfare, did they
hesitate 60 follow L.. | cherish warm friendship
TOR those truly patriotic Senators aOhg win an an-
precintive sense of their great services, but can
nor restrain an expression of regret and surprise
that they dId not unite with Senators Allison,
Ferry etc. ETC., in aiding the resumption of
specie payments IN obedience to the Con-
stifulion making silver and gold the
standards OF value. Nor my surprise
Diminished IN finding the Republicans Of Maine IN
a false position upon the greenback question. After
tour years experience in fighting grernOacks,"
the Rebel armies surrendered. Inc hgut against
green backs whenever and by whOmsOever waged
viii prove expensive and unprOtiaDle. There IL
not "a loyal rght-minded man. woman or enid
WAC does not cnensh grateful membIance OF
the undeniable fact that lSDenbacl1s" saved
our Government and Union; and that even
now, as money current with the merchants,
they are as precious as silver and gold. Our people.
in obedience 30 the Constitution, will consent a.
rapldlg as consists vita the general welfare the
withdrawal anu cancellation Of greenbacks, but
they will rot submit 20 see them, deprived of their
leeal-teuder attribute, converted into soft money
Aer- York, Dec 10, 1879. Tw.