The New York herald., 1879-03-07
LITERATURE.

THE INTERNATIONAL REVIEW FOR MARCH.
The March number Of the International Revie,c is
strong in articles Of American political and financial
interest no than five of the papers therein relating
to such matters First in Importance Of these is the
paper by Mr. George Walker. of wv York. on ''The
Currency and the National Banks" Mr. Walker sets
out to show that the volume Of currency is too
large and next that the paper credit element is
cessive The total amount is 1o2 900. of which
two.hrds paper and tho balance gold and silver.
He admits that larger portion Of people money
now than in $780, the manumtted slaves for instance
and hence that there should be more circulating
medium per CAPITA than then. Still he thinks 'there
can be little doubt that the present volume is
sive by two three hundred millions" Naturally
this leads to the question, What part of it shall be
withdrawn? He answers. the greenbacks. and all.
vances arguments why the entire paper money of the
country should be issued by tho national banks,
their machinery at lending itself to m increase
Of paper money when commerce wants it. He does
not recognize an economy in the issue Of paper
by the government. As will be judged from tho
brief summary of calmly prepared paper he pro-
ceeds with his argument without pausing to combat
the ..Aat" money men or the indationsts not. how
ever, wholly ignoring them. The national bank
system having withstood the shocks Of every
crisis since tho has proved its value,
and should. he thinks. be upheld. Tho paper
ia carefully written, that portion giving the
objections to o paper currency issued by the
government being particularly strong. Bearing
the samc subject is the paper Of Mr.. Simon New
comb on Tho Silver Conference and the Silver Ques-
ton" The anomaly of government coming money,
"a in the case of the silver dollars which nobody
cares to use-thc people because Of their bulkiness
and inconvenience, and merchants because of their
low relative value-ccrtanly deserves more attcn-
ton than II is nt present receiving Mr. Newcomb's
criticism of the work Of the late Silver Conference is
well poised. He does not attempt to solve the ques-
tion of silver coinage but believes that all facts
bearing on IL should be kept before the people. On
the question Of tho reiative value of silver,
be believes that for years silver will
.skeep at some mean point between it's legal
ratio and its present extremely low After tho
chances are In favor of further depreciation,
les some new sources OF gold supply opened.
Tho other American papers 'The Administration
and Civil Service Reform" by Edward Cary: Tho
Present Condition Of the United States Navy" un-
signed and self Government In the Territories"
by Chief Justice Wade, of Montana.
'slecp and Dreams" physiologically treated by
Professor shaler. and Mr.. Sidney Lanicrs "a For
gotten English Poet" introduces us 10 Bartholomew
Griffin. sixteenth century sonnetecr. BY curious
coincidence one of Grfnn's quoted sonncts is
sleep, and for the purpose of comparison Mr.. Lancr
introduces the sonnets Of Daniel Drummond and
soul and body. as It werc of "the brother Of quiet
Death" may be examined by the. reader. Among tho
book reviews is Q sweeping condemnation of DR..
Weissc's work on the English language.
rsTrpApy CryYr-CuAT