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Carl Schurz On Resumption

Carl Schurz On Resumption image
Parent Issue
Day
4
Month
February
Year
1876
Copyright
Public Domain
OCR Text

Hou. Cari Schurz has contributed a brief articlo, over his own initials, to i tho W&tliche l't, npon "The r'inance ' CJuestion in Congress," from wtiioh we ■ e&traot the following suggostivo and ' forciblo paragraphs: We recolleot having hoard t.his i lar speech trom the lips of Mr. Pendle: i ton, during the campaign in üliiu: " Lot us first rostore the prosperity of the country to a good state of business, then theru will be no troulil iibout specio payiuent." " Restoration of prosperity " sounds vory fine, and it is ily said. It is a plnasant presoription. Hut how is tho uuitter to be efieoted? It is tho same as if a physioian hould say to his patiënt sick with a fover, " First we must restore you to yonr genoral state of health. We can then cure tho fever." Why doos not business reviva? Why does not our prosperity begin again to flourish ? Principally becauso the confidouco is laoking, without which the spirit of enterprise will not venture foith. And why is there no confidence 'i Muinly because tho business world feels that the grouud is not secure under its feet, and looks only with uncertainty iuto the futuro. And why is this? Bocause in our present financial condition all values are subjected to such capricious fluctuations that no one can niake any cortain calculation on next year, oven on next ïnonth, or next week. So as long as these fluctuations of values this uncertainty of feeling will exist, and also just so long will thcre be a lack of confidence in business life, and with it the chief hindranoe of thereawakoning of prosperity. If tuis hindranco is to be removed, first of all anothersystem must be put in the place of the financial system that produces fluctuations, uncertainty and disgust, onp of which will bring the business world on a firtn foundation of stablo values, ronder posiblo certain calculations, and by it free the spirit of enterpriso from its greatest discouragement. Thig can only be done by a hard money standard. To wish to wuit for the resumption of specie payment until the country is prepared for it by her prosperity, is to propose to wait with the euro until the sick body is propared by recovery for the medicine.

Article

Subjects
Old News
Michigan Argus