“The new bill, like the old one, authorizes an inflation of our paper currency, by at least $550,000,000, without providing for its redemption in gold, and without any effectual provision for diminishing the volume of outstanding legal tender. Our New York financial magnates, who have put up, this year, $116,000,000 in gold, _to save the treasury from suspending gold payments_, ought to bestir themselves in opposition to this latest administration folly, if they would not see all their efforts go for naught and the catastrophe which they have labored to avert rendered inevitable.” [!!] In Chicago we have Lyman Gage’s plan. Mr. Gage is a man of intellect who resembles some of those orthodox clergymen who, by a long course of theological dissipation, _i. e._, reasoning from false premises, have impaired their naturally fine faculties. Mr. Gage, if we must credit him with sincerity, has come to the same condition by financial dissipation. But his plan is not as vicious as some. To furnish the needed foundation for national bank circulation he would have the treasury issue $250,000,000 of 2½ per cent. bonds, for which greenbacks or Sherman notes should be paid. The money paid would not become an asset of the government. It would be canceled, destroyed, burned up. Of his scheme the Chicago _Times_ well says: “Like other bankers, he thinks the chief end to be sought is to relieve the government of the duty of issuing the circulating medium of the country. Upon this point we must note an emphatic disagreement with Mr. Gage, and with the whole school of financiers of which he is a type.” A specimen of the demoralization and danger of the times is seen in a recent statement of Senator Gorman, that he and Quay had settled in their minds that a certain government bond scheme, like that of Mr. Gage, in eight items, including some about silver, was about the only proposition that could pass the present Congress. No. 3 among the eight items coolly dismisses the greenback thus: “The legal tenders to be retired and canceled as the bonds are put out.” On the other hand, the Chicago _Inter Ocean_, which is repenting of some of its financial sins, and remembering what a good Greenback paper it was in 1878, says: