New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-17
EX-GOVERNOR M0RGANS VIEWS.

THE CHECK TO SPECULATION BENEFICIAL.
WHAT HE THINKS OF THE CONDITION AND PROS
PECTs OF THE COUNTRY--A PREDICTION VERB
PIED.
Ex-Governor Edwin D. Morgan was seen at his
residence last night by a TRIBUNE reporter In re-
Spouse to request for expression of his views on
the present financial condition of the country, and
the outlook for the future as well, the Ex-Governor
said:
at was very natural after the rise in the market
price of nearly al descriptions of property which
began soon after the return to specie payments that
there should be some reaction, and that those who
could sell at very considerable profit should desire
to realize upon their investments. The season OF
1881 did not give us crops as abundant as we had
bad i'll some previous years, and our exports there
fore considerably less while our imports were
larger The railroad war was injurious to nearly
all the railroads of the country, and it was said that
the war was to continue without limit Additional
lines of railroad were being constructed more rapidly
than many thought judclous. The improved value
of money during the latter part of 1881 and up TO
the present time in 1882 also had its influence.
These several circumstances gave to those persons
who are i'm the habit of selling what they do not
possess a considerable advantage and of course they
nsed these things to raid the market, which has
consequently been temporarily too much de-
pressed
1.-THE railroad war is over. The building of new
roads has been checked. Money is more abundant.
The crops promise well. lmportations will ind
their level as soon they cease to be profitable.
Propertv in all probability is be worth in 1882
about as much as it was in 1881, and the general
affairs Of the country will 90 steadily forward.
The country is rich and the producing power of the
limited States exceeds the most sanguine antici-
~ Inns acti NJ
litical economist do not regard the check that
has been given to speculaton in the last few months
as unhealthy or likely to prove other than bene-
fetal to the country"
Concerning the good results which have followed
the rosunnton of specie navmen's. ex-Gov"rnor
Morgan said that he had expressed his oplnlon IN
the spnoch with which he oncned the National
Renuhlican Convention at Cincinnati, q IN june
1876 AT which time he said:
Pardon me, gentlemen. " again, with modesty, make
suggestion or two, h"ariu" directly o" hI pfesru,;
and efficient execution Of those solemn promises 10 poh
Houses Of Congress and the President 20 redeem IN com
the legalender OBLIGATIONS OF ne t U ~" ~
Of January, 1879, and signify It's opposition W any uo
fcaion or repeal Of this ,aw that does 30 Ei NJ
stil earlier or better method OF returning " re
ment. Let no doubtful word go ron tLls
Convention upon the subject sSacie T ponf.
stand firmly by your numeTous resolutions and plat
forms little longer. and your currency VIII De tahs
formed into coiu basis 20 easily ana so urn ota
YOU will be surprised, regretting only as you WIZ
accomplished, then IN al human probability WI toyW
fifteen years OF prosperity equal TO tnat Oh any
former period perhaps greater than the country mas
yet seen.
The predictions made by the Ex-Governor at Gin
cinnati he said had been fully verified and he ex-
pressed his firm conviction that the beneficial effects
of resumption would continue to be sensby appar-
ent in the increasing prosperity of the country Tor
some years to come.
The present policy of the Government in paying
of the National debt being referred to by the re-
porter Ex-Governor Morgan remarked that lie enter
tanned very decided opinion on that subject.
81 think,0 he said" that we are collecting too
much money for internal taxes and for duties on
imports As an American citizen, it IS pleasant to
see the debt diminish hundred
millions q year, or more but II Is bad
pOljcv, The country ia uneasy on account OF
The large arnonnt of coin held by the Government,
and plans are constantly beng put forward TO get
tLe money out of the United STATES Treasury which
are sometimes doubtful. IL would be far better
that the money shOuld not 90 INTO the Treasury,
and this can only be done 10y reducing the duties
on imports and by largely diminishing, II not
doing away altogether with, the internal revenue
taxes except on whiSkey and tobacco. want the
payment of the debt spread over large
number of years. so that the people or
the south who are chiefly instrumental
in causing it, will have more ability than they now
have TO help Us pay IT,