, 1879-02-21

and tncso IL ,m{ 4 an tint IN the Treasury
Jaapfe serye1 ar leH Untouched the coin RI.
need 10 nc Bic s rcssrvs ss'ae1; ;ot efc r..
sumption, bcca1s s Rcsutnptiou al eiyca tin
a,iIred Iue sat, H. sell nonas "hS,,cvee re-
even II any Of prcsen, fctsrye horGiat"le .ho,,ia -
takcn to paY the mtearagc OF t,rtstons. ami ,ho G
l'aace TO lint credit did mt III tt,,. cssn stiun
~ H. u.s secretary, apnear to bc large enough, l,o
EcncY shall arise. Moreover, In mr. tl1dumcnt.
| t'sro need be no apprehension OF anything i'm.
pnlflnU rcstniottofE. 1t IL an accomplished fact,
ahefe has becn moro coin paid Into the Trca1-
tarv s'ncc the lat Vt january, when VIC resumed,
sumption" ~
will IT nsrAnD nxsuMruoyl.
atr. Wood continued: ~ ltnyo voted for
every nill and proposition looking to rcsunp.
aup a s,,i o. TOR tic last ten years
!,t !act UT 90 not tIlInk 1t necessary to keep
!nie 10 Tic lrcnaury 50 largo sum OF coIp. for
Mn'e @ nssott we receive no interest," whtlo e pay
cured Il. Nor do l think tllat, when tho
Treasury gets the benefit Of tIlc reduced Interest,"
consequent on tlle conversion Of the per cents
ml to pfr ,, scn. hcre WI be any cciencr It
from the Committee OF Ways aud Means. a XIII
reducing thu time during which double jnterrst
!uns ~ thc hfi per cunts from utncty 10
d1rty dast, which will save US at least $1,000
VI the flscai year. nn with the increasing pros
{sfsty of TIC country, the revenues Viii 10
Largely Increased, 81 That 1 thlnk tlmt,
nscs.:,-g ns , s'd o. The tlacnl year, It viii be- un
"r IT. ,A,le H!iditsotnsI obligations or resort to
taxation. What we require now il a Temporary
provision 10 meet this additional expenditure.
mtu nj, tn'hk ifiat my proposition will do TINT
"1tnoat lustiy renting any dfstruBt "a to the
nhstY ~ tiIr GoYctnH,cnt TO matntain rcsutpp-
t!cn. think 1t will be ycry soon apporent tn
tue irssndt of resumption tint there can ta no
Necessity Fur maintaining 80 lnrge cotn-rcscrrc
1nOw." ''N'S
HAZARDOUS PROPOSITION,
sfr. Wood hos, M he suys, steadfast1y sim
ported ut measures looking 10 resumption for a
Etsod many years. and no one has right to
llia notlscs: But 1t ia fact tut hts t.proputj-
tit'1l." which, By tic way, he says ho means to
Iay bclnre tic COMMITTEES Of Ways aud Means u
morrow Tor ith consent. Is regarded hcrc bv all
friends of soltnt n,oncy as vcry dangerous
playing With ru; while his aasertlul That lcrc is
nunccd for tlIcmatntenaueco Of large coil-rescryo
1or !'.,, rrsnmptt3n tI,"ls assent only with Sir.
xralsnts paner, money tnaattonfsts. SIR Wood's
- proposition. 'tfit ever beeomesn bill. cannot hc-
come law. 1t Ia though. dangerous by the
friends 1f resumption, hccuss 1t Is the first offer
ca,Ise It seems 10 show that Mr. Wood, who has
hccti counted among the friends Of rcgun ptitu.
dues not comprehend tic aimpla truth that u
Is promise 10 pny, nfnl lint thu
necessity fur Il large coIu-reseryc arises from
thu very fact tsnlt the Government offers TO re-
!tefn Its PROMISES In coin, nlh must tlcretorn
krci' eof'i on hand to do no, Ills movement is
"'ily annthcr evidence OF what eycry friend OF
sound money hcre secs: TINT rrsumpt1on
Will never lc accomplished until tho legal
LENDERS arc cancelgd rs fast M they arc re-.
ccnled, or until they ccaso tu be 1rga1.tunuer.
hut IL Is the opinion OF tlp ahlcst fricods
f SOUND 1nnucy here. OF both parties,
[lsat7 50 lar front the present tcsumptiou-fund
ic!'ll acedIcssty great, It ought Ia bs cotsdur-
1hly Increased to .mnku the Trrasury aud re-
o Europe.
low THE MONEY YoN PENSIONS CAN uE nAtsEp. ,
Several WAYS arc proposed to ratac tile money
etllilrch to par the arrears Ut pensions, besides
Mr. Woods. One Is to ISSUE pcr crnt btnd.
0r tue amount required; bit the Dcn,ucruts
mink IT would Look hutl fur tllem TO Increase tho
lo'l'icd debt. Another IN tn Inv M income tu3,
t,E! Y this MEETS viii, considerable favor among
Western ncu, but ts not liked bY uthefs, M lie
:rnuHd that It would iuiure thJ not,u uoij.
'rospecta III New York mil ulcr Eastern Statcs.
!Es atEo because 1t would nccrssitate tho ~.
'untfleht Of Iargu number oi new tax-u,lrcrs
Fhofll ttic Republican Administration would vi
oirse appoIl1t, md Who, It Is supposed, would
tren.ttlen tile Republican 1nacHne for Dpxk
car. lhe Nost acnn,b!e proposition 80 fur
lat!e Is to rcHaw III. duty ulL ten NM. tuiTec.
ll's would raise tlc I.ecdea money, antl wu,.!,l
~ at itnperccptibIc burden on tic taxpoyers,
pr II IL we'll known TINT lte consumers Ia This
o1Mtry gained nuth1lu, by the foolish apuhllun
Incha untlc3 H0iIlu years aE0.