The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1864-02-25
Of this sun, sbe homs products and
imporiB weFe IS follows:

~ ~AAA Ar-Nl - --~N-~ ~--1t-t~ 49,
imports we're as follows:
,.,., Tone s: I Iss.gs'. .l IPP Per-
1874 20 '4s-........- b, los SOD l5ss4 5.sEs
Bat this is not all Iii Is estimated that
AZ least S7OOo0O0Q las been brought
hiiher By immigrants, on their own pri-
va,s account; and hence no record Of it
has been kept; snd this sum added to
the above, would make the gain in The
Atlantic States, equal to Ssl2 720I76
and then add 10 tbis the CslisorBia circu.
lation Of say -25. COO 0)o; and The small
amount Of specie in the country in 1884,
and we have TIE whole amount on which
70 base srsEunption Ofspecie payments.
As our increase FROM the western
mines viii be st least 100000 per
year. hereafter, any state of affairs which
nearly equalizss our exports and i'm
ports must add to our stock Of bullion
about that sum annually. Bot 3 war in
Europs, and psaes, with full crops here,
must make the imports exceed the sx-
ports circumstances which win add to
the specie Of the country, even more rap
idly than At the slmoat fabulous rates
referred 20.
Bat one Of The chief eansss Of 6nsn-
ciAl oalamities, has bsenlthe manner in
which il has always been necessary,
heretofore, to resume specie payments.
But ths usual difficulty does not apply
in the present instance. Heretofore there
has been 10 traasilory stage; no medium
between absolute suspension, and sbso-
Lutte resumption; and the consequences
was, Whenever the latter was attempted
unless everything was prepared, 50 was
not usually the case, after q crisis, then
insolvency followed. The people are
always in haste for resumption, and fire.
quently compel TIE banks to resume, and
thereby ruiz them.
Nor is this all; Whenever the banks in
The leading cities pay specie, the smaller
instituiions ia TIE couatry are compelled
70 follow: and while The former may
weather tbs storm, tho latter viii be
compelled to sucOumb. IN nearly every
case.
But ia the present instance The ma
tionAl banlSs--and they are bound to
absorb all oshers--Ars only compelled TO
redeem their notes IN ths legal currency
Of the United stssek-shst is, gold, or
greenbaeks. OF course they win use the
latter, Whenever more convenient than
the former; but these viii gradually be
called in, or become absorbed in govern
ment bonds, after . cessation or hostile
ties and within one, two or shree
years. ~ the necessities Of The case may
require, tie only lsyal cusseaey in the
United States VIII Be bullion. This
change. coming - il VII, gradually. win
enable the banks 70 prepare, aud provide
for Il, and thereby ssoid the incorveni-
enass--or mere properly aimosl certain
disssiers-of sudden tesasiiion.
We repeat what ne have naid on
former oes.sisn, that insonTenisaess VIII
follow the retatn Of peace, and conanue
t:llsl1 those now esgased in indnsirisl
occupations directly depending On Estate
Of var, havs fopnd opeuines in &c ppr-
suils Of psscss bus as tie latter vill b
Numerous. ard IS sil ean readily find
employment ia ihen, pe GA q ssrin
ssnry viii Be- bfief hul 20 far - ilEzn-
cial ssvalsion IS eencerned--using tie
tern = usually ssood--ii csn never
eeeuE. Vilheut ssFious biundere upca ths
Ne part q tha 9,FsFnuent; rEd on this
sles''ei ws think The publIe hss little 80
fssr