Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-08-27
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Ietler ,Grogn Secretary MIoCuIIoch.

wv ~ I3i'0IlV = -
a In response TO an Invitation to attend a
~dhner of tue fpahciery aud others In Bos-
ton, s cretafya McCuiloch' sent aetter de-
cliHiDg the courtesy with the following
remark: "Although it was hoped that ere
iithis the currenoys ofutheI country would
Shave been brought nearer tothe specie
standard stand sys p9 sgre thai tbe people have
iiare in so healthy q, ,conditfohlas they are.
dSince March, 1888 tile war has been
n brought to successful conclusion, i'm
mense armies have Been disbAnded, every
soldier has been paid before ,Ihjigters out OF
'serviee, all maturing obligations Of the
government lhaYs been satisfactorily pro-
vtded for, While the National debt is nearly
MS P5O,O 100000 less thsn IL was estimated it
iiWouId be at the present time. Tho reduce Y.
4 tion of it has aveFag-d-feE the past year
moreTtASpT $l4 999'gv01 per- month. ,Ji,Ae
other nation ever rolled up AZ debt 80 o'rapl
IDLY, none certainly ever commenced, the
reduction of It's debt SO sooh after lis 'crea
Vi ton. e. IF our ,crrreucy is adepreriated, we
n have so far Escaped the Dnantfl troubles
% that usdaily occur among other natieus 40
{ the close of ex eDsive-T+ars, and which
' there Vas rfAsqHtJ apprehrn(b would hapn
pen US at the termination of tile great war
. in which we lave been engaged.s the,s
1! business " the county Ia scopdlcted npOni9
b achanging and lincertaif basis. it has. b. en-
subjected 10 no severe revolution. IL ouf,ss
taxes are heavy our resources are almust0f
uhlimited. ;whGle tin disposition Of the r
people to bear chesrnlly their burthens Is q
a surprise even TO those who have tlie,i
greatest'cohtfdehce in tile hoBor aud good8t
faith of free people. H'H ' joL du
In my 6pfhioifathe people Of the UHiteda
I States are t9 make ,Reppblicapisms inustri-
GUS among the nations by establishing the
I, fact that the securities of a, Reppblican
Government are the safest OF all securities,
and that the pe'ple who limos AtaXi's upon
, themselves are the most jealous OF their, Ia
tional credit. 10 NOT, howe er, Disguise
, the fact that great financial difficulties arei
still to be overcome that our Present pr0sT
perity is ratherapparenE than, real; (; tiilt we
are measuring valles by a false standarff;I II
that WE are, in fact, exposed tDiall thr dam
gers which attend an inflated aud redeen-
able currency, which dlmiuishes labor. the
true source of national wealth, and sJimIiE
lhtes speculation and extravaganza, which,
lead Invariably to thriftlessness. aud de-
mOraliZation. r" ''l '-f' .' "I'.'lI H4l
Before tile country again becomes really
prosperous; the specie standard must be re-
stored, prices reduced, industry stimulated,
the predecessor the country increased, the
balance of trade between the United States
and other nations cease to beaganSt us, all
the great Interests of the country car d FIR
and projected by wise aid Impartial legis-
latiOn, and all sections OF the c0untry be
Brought again to harmonious apd practical
relations with the General Goterhment.L
That the country Will be againltihs really
prosperous is as certain as anything in the
future, That it should be 20 at an early
day, and that, too without financial
troubles, it Is only necessary that there besd
proper legislation by Congress- economy in #
public expenditures and fidelity on the
, part of those who are intrnsttd with the
managemeift Of the piblict revenue o H9E
Trusj1g you wiliparlbn INT, tor writing
so long a. letter in acknUN ledging tue re-
ceipt of your kiiid fnvititlon, remain,
very trulF your obtdient sjypMt, 81 lo
[Signedl HUGH MCCHLLoCH,r I7s
-...t..,.,.. Secretary of the Trea .ury.
Messrs. VIM. Gray, Nathaniel Thayer Tlios.
B. Wales. AudrewiT.i Hail. and Others,
lBoston-y ylI.u-r- uL--l -. nl-.--a