The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-10-22

Srt,,E E>,"Ers.-- 'i'ie exports OF spcie
ron New York 10 foreign rerts tr thc
week. t,hdintr the iaih illsf. Mcrc AlRi lAr

Srt'E f\r"sr.--- t'te exports OF spcie
from New York 10 foreign rerts itF thc
wrc' chdIrE the ia'h INST. wcrc Ste7 LEI.
making II fetal since Janurry |. 1857, of
~? Ahl ls6 Same time in 1886. s2t,htl,-
| iOS do. 1888, so, i0S. .nt do. 1854,
Ss6la2agl do. 1853, Sli,lsl,lli do.
1862, slsa1asil
Why's thus et'ai specp exp r,a'ioD from
tho United States ? Why Is it'nut retained
and used ms currency ior circulation
among the people The answer Is obvious.
h,can'c il Il crowded out uf circulation by
The miserable paper promises 10 pay. issued
by or banks as 4 Substitute for currency
II is II law oi trade that the worse currency
VIII always drive ont the good from ylrcu
latten, beedugc ni.a having n gold ana pa
pcr dollar Will always pay out the paper
hISt Nnc, Il is unsafe 10 h,rp II. while thc
gold l. always good Let as have Il spocio
currency IN lhls ,ountry aud aban,D papes
mpnoy, aud ,i.c osil Of ov,rtgadink wild N ~
short time hcabolish,d
Il "a tlc credit system. Of which banks
are 'hr basis. tina, hs,ds Ia ihc ,nc,irdJinr
oi the merchant anl importer A sound
slS.'ie ourrccy val give business matters n
stability which ih,v can never lposscss n. long
~ We are afflicted with th,ae paper rfomis
este pay In c"nuection with this matter
OF speoic Importation II J. interesting H. 40.
Nee whittier IL gors Why "a England aui
thc Continent Of EnrDpo Wicrc thcv have
substantially II metallic currency nna wicra
god and atlycr are IN demand IN u,vnt
britain 10 bank hllls are Issued OF a smaller
denomination than five pounds, which IL
about y dollars Of Our money. In France
the loves, denomination IL onu hundred
francs, which IA nearly twenty doiars. u
IL easy 10 SEQ that the cure ~ under such
nnspic's must b. almost exclusively metallic.
." Tar a. tho ordinary business transactions
II the people arc concerned
The inIaiuatinn with wlph tho I5ppl Of
the United states cling Ia bank rngs ~.
tatwo'v, ate, 5li tho AL experience aud
disasters OF the past, Il most inconccyahlc
and reflects liiir credit 'tpon ,hcir sagaciiy
and intelligence. ltha odd cry that ihoro IS
not specie enough IN the world 10 form II
currency has b,pu hy The liscoy,ry Of gold
m Auuula and California. entirely
answscd IN 1916 The specie circulation
IA the Lnli,d hiats MAJ but Sj,O01.u 900. il
wa3iH ls30,stin,st,i at 100000 O0D, bsid,s
9s2 600 0n0 aupptcd g. lie lock, i up IN
banks rs ~ basis for their circulation The
haui,.noo circalstan ~ lsj6 wan morc
than twice that oi rpeoc, but IN ltbG the
flm.io circulation Of I'll" banks is $500 600.
900 Ia sat 0O' 900 Within tho last hour
years the mint ot the United States hns
coined morn gold and silver than a'i tho
bank note, nov IN circulation, We have
shIplci ont Of the country within the las,
five years, ~ not wanted Tor currency, ssunl
nearly equal 10 the amount ~ thc bank
notes INV in circulation lat Us keep the
gold and Danish The paper.
The coinage amounted 10 a2ut 900, 900.
THIS la,t shows that W. have the basis of
an exclusive metallic currency ind that II
IN o,,r own f'ul' tina, VIZ 10 mt avail our.
selves II IL. lat ~ keep the specie among
us circulating medium, Instead Of uing
rotten aud unsafo bank notes 10 its stead.
The utter failure Of all the bank aystrms
which have been devised, and the continued
ilowinR IN upon US Of specie from Australia
and California. render The present MI excel
lent time 10 again revive the constitutional
doctrine of - metallic currency. I'y concer,
among the 3,ats., aud u uniform legislation
ON the subject, much Of the prsmu, misra
bic bank paper currency could b" driven
from circulation anI gold aud silver SUI,
planted IN It's place" onr energies ough, to
b. employed ~ 10 low this nuisance Of bank
rags can be- ahated. instead Of, us our lils,k
Republican Legislature propose . 'rc~h cr''
alton 81 manufacturers II pron,scs-t0 pay.
who will, in their turn fail, and bring upon
the holders 81 tl.tir trash wide spread dis.s
,or snI run C'n. Engnrsr