New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-21

fcnv that nv friend from Illinois Mr. Forl ana MY
friend from Iowa Mr. Prize are as true % ieir cor
v,cl,ons ~ IN. 10 mine impOIc them TO cohshti
The cry. let wei enough alone Is n Doli,t Iu W,
meni. titan bill requiring Government 10 .,
sec r,ayu,c IN the first cxgeucy II Is no better
than resolution eulOgzlng grcenhicks ana piohsi'b
"A fresh issue Of iegal-tenaer az tuit nVt oor
Ifisno b.tter than proposition IL initiate ana cor
rupt the currency the prejudice OF the COZ d
err. cattle growers, and cornlf0'uoers OF Tue S ,
ge- Tho gentleman from Illinois ana me ErpleuilI
from Iowa with the oihr Ioi e CIV,
bis comDel meand al Nest IN ar 70 t
the sho t-wclgh dollar products hut they cahoe
compel The NcwYork merchants 40 95 a III Ie ,,
products 40 take tuclr rty ~ am NM o, ~, s,n,e
cold do'lfc believe the farmer emitted 10 Tue saMH
"ers nvervwbere th,t he cry Let well enough
alone means exactly TIE opnOstc II rccans goid lo
New-York and silver orirr'dcemabe paper tOr inc SD'
and West. The mistake made by the WESTERN gVmto'
In this they forget that Congress cannot c0hHOl @
standard OF currency which governs our naguihotu.
foreign commerce. The shipper l. forced tn takc ms ply
in the gold standard Al the goods we EXPORT are PSd
for in gold tOlerabiv certain tha producers VIII
by-andbY open their eyes to this interesting lacl
AMFrTcA CAN CONTROL THE GOLD MARKETS
II has for more than years been apparent 10 te
intelligent merchants Of New-York THAI America VIII
absolutely control the gold markets OF thd word Wheh
ever Congress permits. In SUPPORT Of this belief VIII
read a short paragraph from The Londo" Times OIL DC
cember %, 1879
TIE AMERICAS DEMAND FOR GOLD.
American money marNet as reason for anticipating
pressure upon the stacks Of gold in other gosgg GUHn
ies couped with high the discount mrke uinE
the ext America ~ country when mas
and he preieSt demand only because for
nearly t~ep meu y ioronverf,be paper and we
had practical Illustration OF Tat ae s ING
viii has been ncre sing with great ~ noST
OF the United really ~ and we must attend 10 io
essn Unless there $ 10 aeSe Iuc these
American demands for currency mnst cpnnu TO
great predominant influence on the London money
sucn Mr. Speaker IL Americas opportunity as viewed
from LONDON The question arises ana COMES n9ps 10
each member Of House. shall by paper ana sF
shut ont future supplies and drive away the so"
we now nave ~, ,.. ,,., ,i,,o,s %
cold in six months added the product or our own
mines has temporarily exaggerated orr splendid
Wild with hopes of fortunes be made I'm day INC
Treasury with ITS vicious harrcade OF clipped sn!er
dollars looks defiant those only who are nearsghted
or refuse the truth IL H. IN TACT on prncpr ~
nk ms Governor Garoeon, OF Maine, was on sew s
Years Day. wish, Dir. Speaker. ~ were as easy Tor
Congress aud to be prompt and fearless wlcn
speakug for honest money as we can all Dc III ueiehu
IN DANGER or INITIATION AND REPUTATION.
Ter me say once more because IL u impossible to re-
mind the debtpayng people OF our country OF the
oninous fact often, the Secretary OF the Treasury
has not really paid dollar OF the floating war debt
since May. 1878. Nor has anything yet taken place
lint famine to make our boased resumption stable and
Nav saw IT, Mr. Speaker without ofencei fear the
majority OF this Congress are not concerned 10 MAKE re-
fear that the poison Of lcgacnder has eaten
into te Vt1,s Of The country that Congress VIII never
bof The cursc from tie statlebook Unless there DE
a powcr Whose d-crees are binding on Congress - al
Indicate TN. question: The presence OF the COnsuiu
lion as understood for eighty years, are at least IN
great danger Of being pungea again INTO " Irls"uu'
No patiently study tue history ana trace lme
sube iufueacc OF grceubaCk currency IN ana ont
of Congress without Deng convinced that Government
has buudered IN dealing With II ana Dlnnd@rGd al ,lo
mrnsc cost 10 the people Inc ieSai, w.,
the primary aud colossal mistake IL would be easy 10
show the evils II has wrought IN me pnst b
we are only concerned now TO suo% ~" 49,, - Gu
hold II threatens subdue ana dominate the Govern
nen BEHOLD nudacity. Our greenbAcks have already
three great battles T. me INJURY "h ~ W
relpir nam. y the repeal OF the oflgnbl luhuhg No
vision rccll of the act Of 1866 requiring ne srcre
tary o. tho Treasury 90 pay then on q, ne I, ~ ,
million. per month aud the suppreS-o OF chuCcauon
under thc Resumption Act OF 1919 Ana no" they con
front ~ more daring than before. The President
and chief officers OF the Treasury have made II cear
! active sifBs for tie honest payment OF this
ongrcpudiat,i portion Of the war DEBT may ne tasen
| withou, a ripple OF harm to any one. Toe i9u1est
r,spDuse 4, q selfish and cOWardy crg, wait me
President right, say some. hut our people are MOI
traVepg the broad road to rum for eighteen years
refuse to when ho reaches the open mario" gate
The REMEDY.
II Congress only had courage deal wisely with the
currency now without reference to the next Congress
or the next President the world would, In my iudg-
eui soon De amazed BY swift deiverance from the
egatendcr portion OF National dcot ana the subst
tuition Of gold every dollar OF 1t. Ibeeve 1t can be
paid dollar for dollar our oi our mines ana surplus reve-
me IA less than i've year, NOT only Without seasatlon
OF harm but with the most encouraging Inspiration
and support to honest man ana Industry III the
Who, i. II hut AN excess o. currency which has
/
ne ~ ttc Wcst AID Northwest at the present mo
n,eni How is that those who cry Let well enough
tbe West than u would be 81 Our currency were placed
on a solid basis beyond the control OF giant specu
| Now then. Mr. Speaker. II possessed tho power
though coupled with the everest penalty for rs
quality 20 take eject prior 10 next
July. would Stop mining s'Sr dollar today
now on naud owned by the Government WIN i"cnp
! i've million Of the useless silver dollars, INTO
| VIII ne |
! In regular course Of business, lay ana tA-
inguish an equal amount OF gfeenn5eks
cuue instead OF buying bonds not yet due cautiously
but steadily, and al least as rapidly a. Tue National
hank currency expands under tho operation OF natural
al" NJ sac mining NJ lca, 900 600 gold value Of gold
we can easily control all The gold want Tor currency
r,te. ana force tie Other great nations Interested
i't. ~ i'm fhr c.ablishineut of blmctGc standa vi
W., h,rl t,inr Mr. SPEAKER for the Un.ted states Of
America 20 dailyng with petty HoatinG debtE
FURTHER REMARKS
ur IOTNsBERY Dem, " - thought that the bill,
nurh IL might have been op sratlve at the time or its
ntfolucilon could longer be operative because the
banks were paying their debts. whenever re-
/ on,.ted IN gold and silver coin. He denied
,h,t rcsumption had been brought about by
,he financial management OF the Administration.
7, had been brought about by more potent causes.
Dnrpe the Ave years that the Democrats had had
troll Of the House corruption I'm Office had been stayed
and The rate OF taxation had decreased Tha hnd Docn
one of the great lending up 10 rcsumptio lie
announced his intention Of Offering at suitable Opp0r-
unity the following amendment $780,. 49, ,
srctious :y5Ss $3.50 aud $500 81 the Revised
making United states notes and Treasury notes
lea, render are hereby repealed" That would hrlng
ahof The entire purpose OF the present but, and take
~ wnaf he considered The Objectionable feature of
The resolution Tue country WIS now at the noodtde
-, enoncni sue ,ess and why should Congress Insist
Gebs ling the National credit at home aud abroad by
! maintaining n pIUnise as a compulsory paymeDt OF
At his point the morning hour exaircd, and the bill
| weut without action.
Tnc House voted down motion to close the general
debate on the report of the Committee Rules to-
| ,nnrrow and then went into Committee OF the Whole,
Mr. Carlisle Dem, KY in the Chair, on that subject
| matter. -, -, $500. . 4. IA ,,.....,