Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-07-13
Election on Tuesday, august 10Th
Gold and Silver Currency.

puDlic documents, SUCH as reports oil
Secretaries Of the Treasury and Mesa.
ges Of the Presidents of the u. S. sc &c :.
And it will be acknowledged that they
are facts important to be known and ton
sdcicd.
Wanting no aid from me or any bo-
dy else, the reader will, at once, apply
and use these facts in solving and decid-
ing, in his own mind, the three following
questions which have now for several
months engrossed the anxious thoughts
and inquiries Of the whole community of
all classes ; the farmers, mechanics ,mer-
chants, manufacturers and laborers be-
cause oil alike feel deep interest in
knowing the causes Of the difficulties by
which they are borne down; that they
may know when to hope, and where 10
look for relief
FIRST. Is II possible 10 hare a money
currency consisting oj specie ~h'iIy; or
chigy; or to any greater amount Than is
necessary as a basis for a UeH regulated
paper currency?
SECOND. Is moi weN regulated pa
per currency, secured upon specie basis,
The most conrenient, ,most useful public cur
rency?
THIRD. BY ,chat ogency-puJlic or
prirais-and by ,Uhot means has il been
brought to pass that, now there is no
where specie enough to be had even for
the purposes of small change'-that the
banks have suspended specie payments
throughout the U. S. after having been
multiplied to an alarming extent within
the comparatively short period Of seven
years preceding ?-that our people have
been made bankrupt 10 the people of 9TH
er countries and that WIDE spread
sweeping ruin has fallen, not only upon,
the speculator and overtrader, but upon
thous ands of our industrious and prudent
citizens, and especially upon the labor
ing classes generally, who, Uhe great
er part Of them) being thrown out of
employment are deprived Of their daily
bread?-
FIRST. As to a gold and silver cur
rency, exclusive Of paper.
Extract from the Treasury Report to
Congress made Dec. 6, 1886 :-"Ihe
vhole specie in the country IN OetoJ - 49,
SO, ,chen the public deposits were remored
from the Uniied States Bank, did not pro-
badly ercsed thirty millions, and The por-
lions Of This IN banks is not supposed 20
have exceeded i,Usniy-sir millions! :!
A former Treasury Report on the pub
lie money made to Congress December
l2, 1884, contains a table showing the
amount Of specie in this country at dif-
lerent periods for number Of preceding
years and showing also, that thirty mil
lions is full proportion Of all the specie
duOdt ln tno ~OIbu WHICH Cuu idi W tuC
share of the U. S. For it is a well known
TACT, that specie, like water, however it
may accumulate upon flood tides, will
begin to seek ,and soon find its level, and
no dams or expedients can restrain its
ebbs or its flows.
A Report Of the Committee of Ways
and Means, made to the ii. II. July Ist
1893, contains this item, viz "Decem. :.
Der SIR venue from all sources $780,
100000" (39 mllions.)
Extract from Treasury Report Decem-
Der 6, 1886. "The receipts into the
Treasury during 1886, as ascertained
and estimated, will be about SAT ,69l,-
898." (Near 48 millions.) And from
the annual Treasury reports upon the f.
nances and revenue it appears that more
than thirty millions Of dollars (being the
full amount Of oil The specie we can have
is required to satisfy the demands Of the
general government alone upon the peo-
ple-leaving not dollar for the support
Of government 10 the States which mus,
necessarily be supported, even although
the whole business operations of the peo-
I pie should be prostratcd and annihiIated