Year: 1878

~N~~~N@~tNAJ
the other day on the legal tender question. If
it was meant to defeat the scheme of rssump-
tion by juggle it was unworthy Of Senator'S;
If it was supported on the theory that it is pos
slole to redeem the government currency with
out calling it in there is mistake of arithme-
TIC in the calculation which any school boy OF
six years old would discover at glance. That
action will stand as the monumental folly of a
session that has bsen unusually prolific of
irrational measures. 1t has the flavor of an
Irish bull, but the subject it treats of is so
mentous, that people can hardly be expected
to dwell long upon the ludcrous side OF the
matter. There is such an inconsistency how
ever in its provisions that the Secretary
of the Treasury will be perfectly JUS
titled in executing 1t in conformity
to the public interests instead of con-
strung it to suit the caprices of the imitation.
lists. 1t is his duty to pay specie for every
legal tender note presented to him on and after
the 1st Of January. OF course all such notes
are retired when they are redeemed. As long
as, and to the extent that they are held in the
vaults of the Department, there is q curtail-
ment of TIE issues of Treasury notes. He has
a right to pay them out again if he sees fit to;
he Is obliged to if he has obligations to meet
that they will be accepted for But the propo-
sition that he must at all times keep afoat the
whole $36000O0O0 or thereabouts whether he
has use for them or not is too paradoxical to
be treated with actual seriousness.


If a law had been enacted simply authorizing
the reissue of greenbacks. without any quali-
fications there is scarcely doubt but that as
large an amount of them could be kept 10 cir
culation as the business of the country requires.
Ihat would have been very sensible measure
to adopt. They are a favori.e currency and
there will bs no objection to them when they
are worth par In coin. But the idea OF pre-
scribing the exact quantity that shall be In use
at all times and ordainng that there shall be
no fluctuations is utterly contrary to all the
teachings of experience, theory aud logic. We
have had great deal of tinkering with the
finances first and last and very little good has
come of it. rhe vetoes have been the best
things that have happened, and what is most
needed now is dispensation from further
Congressional interference with the progress of
the people towards prosperous times


Fortunately the forces of nature are work.
ing vita wonderful activity to thwart the vain
devices of the visionaries, who imagine that
there Is some other way to restore the country
to affiuence, except through following in the
straight path of honest industry and patient
endeavor. The avenues of usefulness are
gradually widening; the soil pours forth its
treasures in abundance; there will soon be
enough to do for all the men who are able and
willing to work. There are openings erough
already, if they were assiduously looked up.
But of course there will be for some time yet
surplus population in the cities and towns of
the seaboard who find it difficult to get employ
ment, and who have not the energy or the will
to get away. These men are an easy prey of
demagogues who travel around ranting about
the rights of labor, the truth being that most
of them never did square days work in their
lives. These are the leaders of the communist
and working mems organizations which are
occasioning considerable uneasness among
peaceable and law-sbiding citizens throughout
the land. There always will be Of course
certain number Of people who greatly prefer
to be maintained by the toll Of others than to
perform any themselves. Now and then this
propensity gets such mastery over them that


they help themselves to their neighbor's goods.
But their capacity for mischief is comparatively
limited while they carry on their operations
singly. When. however. they become gregari-
Gus, and enter into combinations against prop
erty they are to be ranked as the enemies
of mankind. At that point their very exist
ence Is menace to the well-being of society


AMI common instinct Of self-preservation
incites decent citizens to an aggressive warfare
against them. The right Of every man to keep
and enjoy what he has earned or what he
owns must be defended at all hazards. With
out that security of possession the principal in
centives to enterprise would be taken away.
There ought to be no monopolies or special
privileges. The sources of wealth should be
left open to everybody. The chances of the
poorest and the richest to reap the rewards of
honorable thrift should be equally unimpeded
by statutory restrictions. That point having


been established it is the paramount duty of


the state to protect every inhabitant-"peacs-


ably if it Can, forcibly if it must"-against


any interference with or spoliation of the fruits
| of his industry and enterprise.


YARMOUTH.