, 1879-01-04
RESUMPTION.

REQ " ALL AVNs
Views Of Prominent Clttxrna of Now York. |
Mo Tori Tribune. Jan. l.
Tho Now York CArtst;an Union of Jnn. L con- |
talns letters from somo Ut tue men best known
Ia that city for business experience and Integrity,
upon the probable success Of the resumption Of
specie payments and is cf1ccts upon ti,c ton,-
mcrriai interests Ut the country. From these
letters, written In reepuuso to tho rcalcss nf tu
editors OF tho Christian Union, liberal extracts
ARC given below uutlcr the naaues Of tho writer's:
WILLIAM A. nooTH.
There Is far less dfstrAst ainunE financial men ,
In relation to resumption ut this time than |
there WINS the day p:ryous to tho aurnptioil
Ia 1857, and think there Is now r'ore snntl,
dcnce that spccie-paytnents nay be s9Iitli!hca
than there was when tho banks resumed at tllat
tiHle.
JAMES nuEtL. 49,
l can sec no reasun at prescnt In tic financial
horizon to tleteat resumption. Tho Secretary
las atnp1a powers aud ample means at LIS CONF
Dand, and, best Of an. tho pnbltc tant ia 10
unison with the object. The lalancp OF trade
s latEely 10 our iayos anu a ts ssfahs ssap,rs
before the War, aud, In faet, they havp resumed,
SO to spcak. -..---.
a ,ppor xoAn DAvts. TT, ,
wo can stand bad laws II they arc not CONSTANTLY
changing fr4m bad to worse. II Co,,arcss were
mt 10 session, and ct',tld NOT ait for toarthere
iety viii oppress liz business comnauh!ty, llke
tbs fear tat halnts people WHO live ntA t-nelEl-
bors 10 lunattc asyluln. Tho county ought
to @e !" 70 70 ss
is sn,other danger: Tho object ,s TO ,psnaci.
tie lie rcign Of tho "wiid:cnt" " md ""rc!i.
! to come To bEllho.dcrs when ,stato ba!lks arc
| restored. Now nobpdy asks IN what S,ats u
National bank i. located. Every bill J. tho equal
| OF ovcrY Other or the sale denomination. Er.m
i the bank aeroke'! tic BIZ passes, for "gl'e'c
yrt, Of ali slio millions ISSUED 10 National banks
wl,lut tayc broan Or gone Into iiau!lat!o'', i'as
aluglu dollar bccn presented mud not redeemed.
| IThs satety Hnl confidence snnst not he d's-
tnrbod by rasn and rcckcss Theorists, BY uhou.
tho chaaers of lu0alton and speculation aro
| rated higher than this security ot thu people,
/ polcye au era OF sound prosperity ts teIors
| the country, aud Mi t,Iu sUutder for Its AloSf
and gradual approach. Manufactures arc ristnE
better tnlngs are aas a'i , S,eatter az ,, w
| What we can make bcttur. We arc hound, nlao.
to compete wish tho beat aoroaG. And, o 'aua'.
tcr OF century hence Amer'tY viii 30 t,Io great
/ Fra1re,-und Germany will DO sheltcrinK them
| selves bohnd tariffs for projections. We l,aYa
only TO bu ipiexibty trna tn honest MONEY HON
est men, nl1 honest prinelplns to make tps htAp-
| tIon successful and our future sccl1re+ .f
| GEORGE 8. COR.
/ take pleasuru iD saying that rcsumntiun 10
already m accomplished fact, ant! there 1t ;ans
| tu me no goMi reasun whs 1t should not t~ttnn-
| ncntly continue. Tlle commercial e1ut !tions
are III tho highest degree favorable, and the
/ general situation, resources, and proslNytss u
tho country all unlte In aiulug thu 1lloyt Fllcnt
There Is also an earnest purpose On tue y trt "
i banks anu tho community to cooperate VIII the
| Guvernsnent In se-eatablshtng the ruInillt 4r1h
standard Of tho worldtaa welt In homs ~ tn CTR
| lofclGn trade.
| WILLIAM Il. Don0x.
1havo full faitI III tho success Of resumptIt VI.
| mud for thu following reasons: i
EfHt-Tha country, tlus bce1 anticipating and
preparing for 1t for tile past two years, aud u0
shall outer upon It With perfect sase aud With,
out any txsltuulent. ...-,
ths burden oi resu.nlng and n.antainlna sprlb'
payments rests: the United statta Goyernln.nt,
at,a tho National banks. JUDGED, ~ Inatscr
q fuct, but one; - tho unticd stats: hollis
sSi'' ea s't ossst ss:'''Sll ~ Il NJ
toaal bass. md ths Treasurer a..I,a ~. q
larecr In proportion 10 the amount ot rapes in
circulation than tho ag9rvgats which VIA hcld
hy THO different hunks all over tile tu1ntry w
tho present paper eatcu1at!oa Q! the a"scI..-
u,vnt and thu National banks Is held by the
people Is far beyund anything ever linawn und.F
thu oil sta!c-bauk aysse'n,. When ths country
7H;,.i-Tha long depression through which
we haV1 0teh pussinE greatly l8cl!lt3tes auA f!aS
| payel thu way Tor rcsuuptlon..
Fourut-Th1 baance uf tfdde hns continued
20 loug III our favor, and the rapid snprtsr-
nlcnts In oil domestic manufactures have OF .tato
10 changed our f0EclXn relations that W. inay
b0 asanrel our imports md exports LOT uoE
time to como will b. sucls as tYprevent ln:aTY
shipments VI specie IN other conhnra.
E.fih-tf our banks will rcfuso TO loa&i t,u
specie, 10 as render corner In by speculn
| tmpoarlDle, have 10 doubt Ut tho sucs4ts 1T
rcsulptlu,, atMl Us its result ! general revty u
I OF confidence, with gradual but sure return q
prosperity.
Tho fact that resui, ption pas come uf its Ow 4
accord Ind without beug forced or aided by il,
! is tho strongest proof of the Wisdom Ut {hos
!. who tleumel 1t nccessaFy to speclfy tluie ios
| its actual taklug puce. IL desrahity is. 10
I tny Judgment, u suunu and stralx xhtt0rwsF1 sx-
| bfessluE Of the people In fNv0r 0t hulestY aud
integrity lu our ilnancial system, and its psaeti
capllitY il already demonstrated by tho adoption
, OF gold payments fn business csstIes during the
paat week. Az TO its effect upon las postal
service, eau only tuJ9c that us resumption will
| undoubtedly he beaelctal u colnR4srcu au1
j busluess Of ull kinds. tlurcby Increasing tx
| nues vi tue tustul Department Will hs proper
I | tlullutcly Increased.
T. 4. PALMER.
lu reply to many Inquiries ~ to tho probabl
/ ctnnres ul thu United states Treasury and Il!
ba.Ils Ut ihis and oshrr cities rrsutning aud
| tlnu!n. specie uay yuleAt4 Oh md after JaA.
, ! le7D: fruu luug uua vuried experience !
| business III thfa cttv,-iur Atuut tlty ycatt,-
ihIuli thu businessmen OF tha and otasr lii.
fully uyrte uuoN the necessity of sGeuul1ll
| | tucvlr- u meats, although disappearing OF tu
fhuD DnaYS ot,t}f 1at fAI Il,