The weekly Panola star. [volume] (Panola, Miss.) 1857-1881, 1866-09-15

w ffHpiHHH ~ 81 iH#HiiluH ~ N
iehi dlaaef N hHsbalsn and H'hefa.
aawlag Hfulieb wbi 4 bihf
1aalIalag ~ f0nfifHy. Hlih iiis "a
hWlhR famHfhf
Although " waa hplst ihti ~
fiis No enueHay oi llo county would
bHva been brought heHFff ~ NJ
fprlr Standard, ! am SIRE chat NE
people have Aauaa ff rongmiHlaiIun
ihai onf hnaneof afo IN 80 healthy q
condition aa They ere Alnfo NHfah.
1890, var las boen brought tnaHie
fesslul conclusion. Immenaa armies
hayo been dirlmnled, every soldier
haa beeH paid before mastering oai
~ ieryioe, MI maturing obligations
u Tie Government have been nlia
foioflly provided ipr, while ihe
national delt u nearly s25O,000,0W
less Than II was estimated u would
he N The present time, aud The re-.
dneiion Of ID has averaged for tht
paai year more than sl000O,000 pes
month. II no other nation cyot
rolled 40 a debt - rapidly, non,
certainly ever commenced The fcduc.
ton Of iis debt 40 soon after ~ crca-
lion. If our currency u deprecated
we have 80 far escaped the financial
troubles that usually occur among
nations at the close Of expensive wars
and which there was reason TO appre-
hend would happen to us at the
termination Of the great war in which
we have been engaged. II the busi.
ness of the country Is conducted upon
a changing and uncertain basis, il has
been subject to no severe revolutions
If our taxes are heavy, our resources
are almost unlimited, while the dis,
position of the people to bear cheer
fully their burdens Is n surprise, ever
to those who have the greatest conf
dcnce in the honor and good faith o
a free people.
In my opinion the people Of thu
United States are to make republi
canism illustrious among nations b,
establishing the fact that securities o
u republican government are th'
safest Of all securities, and that th,
people who impose taxes upon them
selves are most jealous of their ma
tional credit. / do not, however
disguise the fact that great financia
difficulties are still to be overcome
that our present prosperity is rathe
more apparent than real; that we arr
measuring values by a false standard
that We are, in fact, exposed to al
the dangers which attend an initiate,
and redeemable currency, which di
minishes labor; the true source o
national wealth, and stimulates spec
ulation and extravaganza, which lea,
invariably to thriftlessness and demor
alization.
Before the country becomes agail
really prosperous, the specie standar'
must be restored, prices reduced
industry stimulated, the products o
the country increased, the balance o
trade between the United States anC
other nations cease to be against us
all great interests Of the countr,
cared for and protected by wise AM
impartial legislation, and all section
of the country be brought again +
harmonious and practical relation
with the General Government.
That the country will be agar
thus really prosperous is as certain
as anything in the future. That j
should be SO at an early day, ant
that, too, without any fnancia
troubles, il is only necessary to hav'
proper legislation by Congress
economy in public expenditures, an'
fidelity on the part Of those who ar
entrusted with the management o
the public revenue.
Trusting that you will pardon m
for writing so long letter in &C
knowledging the receipt of you
kind invitation, ! remain,
Very truly, your obedient servant
HuGH McCULLocH,
Secretary Of the Treasury.