Year: 1879

ShyloCk is not yet satisfied with the So
called resumption.


Sherman has not yet done enough for
him, and he tells him plainly that he will
never resttill the las vestige of the Green
back is destroyed.


AS the law now stands the Greenbacks
that finds their way into the Treasury can
be reissued. Against this the money lend
ers have set their face. Through the New
Y 4ork Times Herald and other organs
they tell Sherman that if he would retain
their favor he must cancel every Green
back that passes over the counter of the
United States Treasury. These are Shy
locks positive orders. He will accept no
compromise.


While the Greenback lives it is a con-
slant danger to his interests, and he is re-
solved that he will not have his peace of
mind disturbed by the peoples money.


Within the space of two days the New
York Times, the New York Herald, the
New York World, and the New York
Tribune have had leading editorials en-
bodying this demand of Shylock


The reason that they give for wishing
to have the Greenback killed is that its
retention will have the effect of swelling
the volume of currency, and in that way
help to bring back some Of the prosperity
that Contraction killed six years ago.


Listen to the reason that the Herald
gives for advocating the retiring and can
ceiling of the Greenback:-


''While gold is flowing into the country
in exchange for our crops we are likely to
go on swimmingly; but if the karvests
should be abundant in Europe next year,
and our own should be deficient, the rain
bow radiance of the present situation
might be sadly eclipsed.


'No clear-headed merchant or financier
can disguise from himself the fact that we
are entering on new period of initiation.
Speculation is as much stimulated by
redundancy of real money as by redun-
dancy of sham money, as Germany found
to her cost, after receiving the enormous
French indemnity.


"We are retaining in circulation all the
Legal Tender notes we had previous to
resumption, all the bank notes we had.pre-
vious to resumption, and, supe~added to
these, our currency is expanding under
the prodigious influx of foreign gold, in
consequence of this expansion prices are
rising, and the stock market is becoming
not merely buoyant, but almost wild.
These are bad symptoms"


Here we have two things acknowledge
ed by this Shylockian paper. First, it is
not as Sherman claims, specie payment
that is bringing us relief from the misery
and suffering that have been the lot of
Labor during the last six long, weary
years. The Herald distinctly tells us that
the cause is the abundance of our own
crops and the deficiency of the European
crops.


The second admission is that the in
crease in the volume of currency stimu-
lates business. That is what the Green
hackers have all along been asserting.
They have been demanding sufficiency
of national currency that will stay with
us, and will not diminish, no matter what
is occurring on the other side of the At
. lantic.


The Herald intimates that next year the
gold that Sherman is boasting about may
be going over the Atlantic just as fast as
/ it is coming this year, and that prosperity
will go with it. More sound Greenback
doctrine.


What the country wants is fixed, per-
manent, abiding-not accidental, fleeing,
Temporary prosperity, such as can never
be given by currency that having no
abiding place in the country, is here to-
day and away o-morrow.-IrfSh World.