New-York tribune., 1879-10-28

and are at n premium the Pacific Ocean and
ctaS ana in the whole region 81 oI ne Missouri lsN.
Every prophecy ~ evil suggested by the Democratic
As toe result Of rton, the Government was
able rapidly complete It's rrfunding operations, b'
VIII ch. wi hin 100 days. all the DEBT hat was redeem
able bearing and per interest. was teinctd 10
per cent showing an annual saving IN ne ,'lar' :,
charged Effected since The lst of March, le''' "i
Sli.297,177 An these vast operations inrluulns l,
sle oi S.Io.OOO.OoO per cent bonds were enhun,'eu
without the Of cent aud without disturbance 10
either pubic or private business lAppiaGseJ
As the result o. the pr paration Tor ana success "
resumption the of interest private debts was
rapidly reduced business acain revived furnaces Wer.
put M blast every where our exports aiE.i lnvle"Vu
IN comparison with our imports. 50 th@t slhce me
over imports exceeded Ss59Oo0OOO. lAppausel
The dreadful drain our Treasury ior col" ~ cN
we're rarely presented for that purpose. hut gold coin
ana hui ion ce pourng M IN va- sns m @ IRON n,s an n ne
the amount of coin and bullion the Treasury, winch.
ON January l. 1879. Was sl36,oOo.0Oo in COLA
aud sS2ooocCo IN s"y1 s;o odG m%T MO Gn n So'5 ,i
and $50 600 ooO IN SILVER We scarcely realize
the guiiude oi these sums. We know = mi hon Ia a
gicat amount but IL is great to he ind finite IL
OF gold coin. or thirty tons oi silver
winch has there since resumption by II, Voluntary
for United states aOes, WA ~oigh so Tons,
car The S5c.OoC.oOo silver com IN the Treas
ury viii weigh 1000 tons and hl ls| ran
o? o th reasnrc M Spiones to private persons
porstcns but tn great body OF Il belongs TO tne peOp
money rests ana al the business operations OF fi.y
million people. the steadyIn. governor or paiac c-
wheel OF our immense industries. To disNac or weaken
this l. destroy Ur impair TIE COZ ni'nce u""
winch our promises rest II Is TINS that brss reHun
ton prosperity progress ana hope t is TINS that con-
'ormer rredeemable deprecated ho'e lh'o
com certificate, good every where.
The notes of lie United states gladly received py
bondholders and taey now ccmp.in neca1Se T ncd
sometimes compelled to ray iuen ln con. ny r,i
states note travels the circuit Of The word III elui
standard of vIue IN every mint ana treasury oi '"o
rnE REVIVAL OF PROSPERITY.
Ineed not dwell before the people of the CITY OF New
York upon the hopeful changes and prosperity that
have been brought about 10y resumption. You here III
the money ccutTe Of our great country ana becoming
ne moneyed centre of the world. feeling ~
you do the throbbugs Of National prosperity, know that
it only became possible the successful accomplish
meut Of the resumption OF specie payments In Omoand
other States where actual coin not vet IN fun clfc
on attempts been made 0y Democratic leaders 10
b.llttle and deny the actual existence OF resumption
They said thar resumption mas not como because
eod canuot be demanded United States notes else
where than I'm New-York but redemption in New-fork
Is redemption everywhere in the Unted States. The
note is more valuable than coin the further II Is from
York. because IL less TO transport the note
haa fhe coin. The Treasury gladly sends II sil-
YER doa charge to every city nnd hamlet In hc
country and pays ont gold COIN freely for all claims
against the Unied states. TIC specie standard Is now
more completely alOptrd in this country than ever ie
fore history. [Appausel Iuere never was time
before thr paper money OF the 81 could bt eX-
S5OOOO.OOO Of gold coin the Treasury wncn the De-
parlllclt would gladly exchange Tor United states
= , ,y ~ he rmufrv bui for The nroyjs,n of
the old >trcasuIy act OF 1916 Ii is hoped that tAs
com. and The large sums tnd are sim coming from
Tr can he 20 di frlb buted as 10 FORM IN the posses
sou 0f The banks and the people, the grand reserve
against future fluctuations. aud I'D tulS way resumption
II was said tna resumption not complete becau-e
comparatively lew greenbacks were presented Tor re-
dtmptlOn This Is an idle faliacy. The peouc oi the
ifrd a.
renee Of paper money They probably never VIII use To
any ggoai extent in the ordinary business Oi lfe either
Gold or silver money. Nnat they want that the
money furulshed them shall De always redeem ihle IN
and shall aw ays purchase much food and oio ing
rs coin: there shall be distinction IN the putchas
ing OF money Whether ol gold or OF silver or of
inrins ga ~ worth what II ports b., always
dcemabie tine highest value. With ilai assur
aucc. made dOuby sure tiny ar willing enough 20 leave
lea, or with any pod, VINO prr'cisit.
Now, that resumption H. success Democrats say tue
Repaid party oia NOT bring II about bat ihat ProSl
dcucc h,s done Il; that bouutul crops mere and bad
crop. IA EuroYe y, been cause Of all the prospc
IL, tAat las come .ince assumption. We gratciiy ne
kuOwe edge that Providence has been on tn side oI tue
kenDeah PAIS VI l"'nvl nst, m ni soISns eo oO
and grateful 10 the Almighty for the plentiful
S s'oSSes s az hnf w. 81 r'smbr t6at if WIS
tne passage OF the Resumption act the steady steps
toward resumption, the accumulation OF the coin re-
o. bn,iness affairs TO the time xed for that
with Dressings of Divine Providence. drought us
SUMPTION. We should be ana are tnaDkiui 10 tAe A.
mighty nut We are under no thanks Whatever 10 lhe
Democratic party. II To- twenty-five years ndd
Providence on IL side, but We may alry iier tha az
Il has steadily Resisted Providence and patr-
nad tAe dev It's side. lliusLtei and applause Dem
oelats c.i! c,aiu credit put STAND convicted OI
prnc,pcs Oh ther party, fol6wiug afier strange
gods with tAe hope OF br,l and partial success. They
tncy alanGone,i has been adopted 10y the Republican
parry the corDer-stVIc OF its great success.
SUCCESS OF THE NATIONAL BANKS
In the progress toward specie payments financial
unnV nah he fan
ms TO make a few remarks, FOR both OF them will enter
largely into our political discussions One IS The pro-
posed abolition Of the National banks and the other Is
the free coinage Of silver dollars.
feel bound to say that the system OF National banks
adopted by the Republican party has proved most im
poraut AID AMI agency u the business OF the country
The advance VI lis credit and ia the rfundn. OF the
Ia ollc debt. TINS admirable system OF blnkmg. de
sgn to sup"rs de state banks has REALIZED all the
hopes oi It's authors. It's rotes are redccmahle
dily at the treasury iu cOin notes equal 10 coin.
They of univ crcula ION Throughout the United
SaeS secured Dsy md sill perddventure glnst loss
failurc cOInerfeIung aud tnt varied
meet tuc varying Nauts o. business The ysttm H.
free as nny OF her occupation employment in e zap
/, nas been quite the fashion of the Democratic party
o. attack this system because II supposed that
mOneycd institution ia succt 10 popular outcry. II has
been proposed by the Democratic party that this sys
notes. IN violation OF The law Of 1894 und the whole
1s upon which this measure is proposed Is thatit viii
save toe people Oi tht Uned states the interest on the
circulating notes so ISSUED.
Even on tnc narrow ground OF interest, such meas
ure would he immediate loss, for the taxes levied
upon by State and National authority
gea by several millions than The entire interest at
per all the bank notes in circulation. The de
struction of the banks would be the loss OF
TINS tax. The United States bonds, deposited =
curly for the notes, are now IN effect taxable
~ captai stock or the bank but would not be taa-
able the nands Of private parties and thus Dy
the destruction or the banks, nearly all the capital
employ ed IN them would assume FORM the hands OF
private parties, beyond the reach OF taxation. In
a4Onr the taxes "n National banks amount 10
-. .9Sl 40, while pr cent interest their
CIRCULATING Is %Sy3,l IA 90. Abolish the banks
and the 500 10 300 uf United States bonds held by