, 1879-01-25
RESUMPTION.

1ntiationIst,.
louhen 7tmta Jan, g.
Nev.Year's Bar, 1879, viii Ia marked ~
metnofso!e as'o IN NV history " s.ssa ."e oaa
spon an ineonscrsiblc paper currency, the
Americana haye cot back. easily and lAiely, to
r,.n r,~m.n,. r.ver w,. .o orrst 4 rcyolu-
.s"" pA9 u'en.e: He.s1 49,, ga. s,..... ~
ton accomplished With 30 little disturbance ol
interests and 30 alFht thock. When we re-
member the difficulties which, ~ Il was cor
odently nrsd.cted. The United States would
s snrA =. asss.s" rsss": ~ "s.,s,.a .ho.- r,,,rsucv
nave 10 encounter IN ensnRlog taei9 eu'Ieue,
basis, and the r1'inous consu'si"n Of business
which, according to the innaltooists' va, to io'.
no.i.fon If con,,,t,hte not.s "a he irre.1,,lblr
reminded m Of .'s anay device sy Witch ena Ina
prce,piea OF when Edgar pictures the dizzy
~, 49," ~" ,a ~. at, ,pt IN, ha Nv
sa' upsa 'ns sv.s .a'1 80 "e.e us, ~, s. ~ ~.
American Government. "rhv llfc's mfr1cle!"
But that all gloomy Yorcbodtn2s hare been dis
gtpate,l by actual experience ia bevoud deutsl,
~ sss.,.r..,~, - saseaa ..sr... 80 ....,s.s
The dangers predicted, they would fave shown
themselves 1t dnrt: but = week hss passed
.tnre the Treasury began 10 pay oil green
hscv. an demand in on,,t. AMI ,ha .hona.
ha. no. IN the s!tsh'e.t deereo tanled esyn
e1t,!ea'aut a!, = 81, q nSysI's % aEsx 9ttxatisn for
a"n',o ~ ~ a"S .,'.h te'.us.aom ,. y. spes.e .n
eold CON nag a'appSa,seu. ran''c curiosity,
'noMcset, aas oeen IT, ln.es.S sa.rtsa IT, oeeH
ascSi @ tainsa Gu t'."t ~ w. W.. ani!y pte
nasea 10 pay Ho!a 'ol ~! alnouht - efeenuaeks
nId. th!s Icing ~ ,lc principal snotye ior pre.
| scttlnH lhGth naa ueen Eehioseu. lug pat1y
estanshca , sGIq 3oI ~ sven
,;. ngtGrS ~ n ,,s ms,uisin.I ",, ~ w'
ury VIII ~ DC enabled 70 pay antersnshFeao5 10
casn Or ~ paper. IT, - femarSaole ia9s ttaas
N. ,ees's9 ,ntefca. on ~ Hoset .lo
m.en. sasnGs " ~" o'x Itee'sI Stn 'anc e
Hoseshtncnt - aceet.'nR pApef payments
1or customs: " W hss dav
can paYnlens .,i ins Ham s, io5K ono arcasufy
aetaau5 pareeu Mhe 'e't Ro!a tnau was pasa H.
eYmsiauces the "uo!d Koom " N NeW YORK,
where ~ many 1ort9nos , wcto madc wa logt,
haa Gccn closca. lne GccapaMo9 ol !ne eola
ss bssn n"l ss Sa 'Sf
any eonsadefeble Importance nave neea iately
possible. ..u
u Il sineaiaf eaoneA that, 81 a!tef ~ the storms
md tha et1ort. % msls 10 rereai Il, the rstufn to
by tl's natural operation ot economic forces.
@ and without Inc neecssstS ior aa 81 an!Mal, ,l to
e III ents T. 's; a. .peeas'ef. a ss"' 's
Wal! street attempted to secure
| pEnht-thc last o. tiie k,naCny aeeh,hllst'nE
stok q GoiG anu butunE up Tue metaa. SUI oniy
AmhtEctanlc eomnno!ts,t 10 premium; ~ out
correspondent explains theif p!1n failed thc
hanks refused to cooperate With tfe spccnlat.
ofe' VINO Me!e eohipeils4 70 an!oau ana ~
lho prosshs ~ tney ntonc. ae 0ola 4o"p I'e 70 PAT
Thcte Il mas rsthaiheo eYcf nnees lis !ast eale
| OF E0lu A. pfetn}um was llfup on the likh OF
Decetnoer, but on tlc satHc uay Erccnbacks nntt
coi1 ncsna'e d ,ntesehaageaole 10! ~, the asst uno
rha9, ,ny 5as pafaS nns sn
when On ;, HeH-leara Oa5 the IrSsAlry
declared Itself ready to pay gold for
paper on oemanu, tnel9 was, ~ 1act,
g. chang5 to ous'ncas c1aaitions whie;' could
kyo thqsk to ttsoe Or disturb 1 ananaal @ c.lcn.
ations' hvG!}tninH. laoeeo' Aau oeen tenu.h0
III tlc salnc direction as tic return to specia
payments. Ile state q American tTnle.
with Which y u regarded 1y sort"tary sherman
9tti scftaln schon ol efohomTal writer's 10 uio
United statcs' has contributes TO me accunnla-
ton o. COLO. Ihc cxoorts arc now sastty 10 *,
ti'c Taiuc 81 ille former ., Was ,i9 m'o9s o. do'
lars, unu ~ tue latter ~ 1alll'ons Vi u0llars
The export SURPLUS vas larger BY one-foIrth
than II 1877. lhus sIere ~ oeen -, no oulupw
In tact, have been NJ tnaux Of M
metal from my country ING Ameti-
raha hau hot neean m'eiy 10 ony oack
large .qnantit'cs or uelt ,uoseInmcnt
which the United states Treasury has pFohte'!
70 me lowering VI thc General fatH q l'teFeat
~ America. llle same o,ns,litY ot at,aiae p1oht.
sele NV secure lase.tmehts II tonntFs wneIe
and l0 NF ctnt we're u1dtnafF fases hail.a-
dozen years ngo, ~hacA ihduces american ~;
vcstors 10 purchase largely Iii, securities held
iu Immense quantities. hitHoFto " Eutopcan
cAptt alist& l4s opened Eooti market for Tie new
| 4 fB.ff hlnuk nnW hang 11IE1 lUf fpfllnNitIK