New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-30
VANQUISHED AND DECLINING CREED.
LECkY's COMMENTS ON THE DYING OUT OF FREE
TRADE IN MODERN CIVILIZATION.

TRADE IN MODERN CIVILIZATION.
To the Editor of The Tribune
Sir: Apropos Of your editorial item a day or two
since in regard the disastrous fall in the values
of farming land in England the following extract
from w. L. III. Iecky's lately published "Democ-
racy and Liberty may have interest for some
Of your readers:
NO fact Is moro conspicuous in the nineteenth
which. within the memory OF men still living. were
economical watching. of the world. and which
cre Ke IN REV. years to control all the
the despotic monarchies or TO the democratic re-
oD 81 Mhe6ner we CONSIDER the crowded popua
Of Australia or New-zeaIand, the same lesson may
doctrine is vanquished or declining creed, and
the chief disputes relate to the forms which pro-
lection should take, 10 the degrees 10 which it may
Even in England. 'ii is beginning to be said
that "a system under which the greatest and most
important of all national industries (agriculturel
is almost hopelessly paralyzed, under which land
is fast falling out OF cultivation. and the agrcultu
raj population nockng more and more the con-
+ is more and more Repeated that 1he great rush
of prosperity that undoubtedly followed the repeal of
lated enterprise; that the predictions Of agricultural
once laughed to scorn are fast becoming true.
What may be the ana! issue. Of this momentous
deeply divided, ! shall not venture to forecast"
C'Democracy and Liberty" 2 46s-5)
All which. from pronounced ant1-prOtectionlst,
is highly edlfying TO say the least
Danville. Penn. Jan. %. 1891 w. A. NJ
THE RETIREMENT OF THE GREENBACKs.
A CORRESPONDENT URGES REASONS WHY 1T
SHOULD BE BEGUN AS SOON AS POSSIBLE.
To the Editor Of The Tribune.
Sir: have been such constant reader and adj
mirer OF The Tribune for many years that con-
slider its opinion many matters Of great weight.
but the currency question cannot see that you
stand upon good ground. You seem TO think that
because the United States Government issued green
backs during the war, thus making forced loan
from the people, the notes have become thing
almost sacred enough 10 worship and that no
thought should be given TO their payment.
believe that is all wrong. The promises of the
United States should be kept strictly those
made by any one else. Why not? The Government
got value for the notes when they were issued and
now the promises should be redeemed. The merchant
buys cargo of merchandise for which he gives
note When il falls due he redeems Il. and It IS
destroyed. The rule should apply to the Gov
eminent. OF course. there must be gold TO do this.
and a sufficient revenue to make this possible but
granted that there should be gradua! extinction Of
The notes say $50 90 year. and their place should
he taken hv gold II could not be said that this
process would any contraction Of the currency.
about The bad results Of the Democratic policy on the
tariff and other questions but all the same. the Re.
The revenue or meet great demand on the Treasury
for gold. which they may not he able 70 meet II IS
well 20 bear in mind that demand notes never come 10
The debtor TO be paid a favorable time. 1t is not
when times are good that the creditor is clamorous
for his money. Therefore if the Government note Is
paid and destroyed il il ont of the way for all time.
II can never stare the Treasury In tie face again
I Relieve there is a great deal Of bosh about the
great need for a elastic currency. What We
nov have good enough for the present and there IS
enough OF it, Never mind what the bankers say
about adding siO0QO.0O0 20 the paper currency. We
10 not need any more promises 10 pay money. Real
Money cold is what should jingle in the pockets of
the people Just as ii does in England.
,~;,,a fvu cierS
in ,he glass OF beer and then ihoy point with pride
70 a fine elassfll, Alas. 1t is very much froth ana
bit little beer We do not want any more soda
treatment. - 49, H. w.
Paterson. y. j., Jan. @. 1881.