New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-10
ENCOTRJGING C4PIT1L.
eln polite.

AT this hour there are at least a dozen rail-
roads waiting to be built if money Is 70 be
abundant this year. Railroads on paper now,
thew will employ thousands of men in their
construction, and give permanent employment
TO thousands after they are finished. Scores
of mills and mines are in q like condition OF
expectancy. If the needed capital can be COM
manded, vast additions may be made this
year 10 the productive power and permanent
wealth of the country; and to thousands Of
men that means more work. better wages,
greater independence, and happier homes
and greater comforts for wives and children.
Who shall turn the scalc7 Congress has that
power In the track of funding bill that
will work. there will come grand
prosperity. A funding bill that Will not
work, bill that will make mischief,
a failure to pass any bill on the subject, will
have very different results And this Is but one
of several ways in which wise action by Con-
gress can mould a glorious future for the
country. Brighten capital, or vex it with I'M
friendly laws, and it will hide, or cross the
water, or stay abroad, until better counsclS
give it warmer welcome.
To avoid disturbing or driving away the
capital we have, to invite more from abroad,
and to call into activity vast sum which has
hidden itself or lies seeping-that Is tho prob
lem which sensible and conservative legisla-
tion will solve. Is 1t asked, "What has q
funding bill to do with these things I" A good
hill NAV add two hundred millions to the ac-
tive capital of the country before the next
wheat crop ripens Controller Knox, in his
last report showed that nearly the amount
named had gone into the hands of the people
since resumption day. The amount is now
larger More than $25,OOO,00O of gold has
come into the country since bis statement was
prepared, S15,O0O,OO0 of specie has been
drawn from the mines, 100000 600 of silver
certificates, not included by Inn, were then in
use, and $17000,O00 more have since gone
into USE But the gold, silver and legal-tenders
now held by the Treasury, less the certificates
outstanding, and the gold, silver lega-tenders
and certificates now held by the banks. do
NOT amount to as much as in October last.
MANY millions more have gone into the pockets
or hiding places of the people. There the money
sleeDs, Little of it is needed i'll trade; most
of il is carefully held in the hope that
it hay be proitably used by and by. I'm
lock these boards by Offering bonds or notes
on such terms that the great army of workers
will promptly take them, and more than two
hundred millions may be drawn from hiding
places and sleeping-places into active employ
ment. Whether the people take bonds or
notes, in either case their taking dislodges the
money in like amount hitherto invested in
bonds. That other money, belonging mainly
to shrewd business men who do not suffer
funds to lie idle when they can help it, may
90 into frst-class securities of well-established
railroads, no doubt. But even then it will
dislodee other money, which, in its turn, must
hunt for employment. Sooner or later, as
many millions Will be added to the active
capital of the country. for use, loan, or in
vestment, as may be drawn from the boards
of the workers.
II Congress is wise it will not try to compel
banks to take new bonds. But 1t will take