The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-12-12
~ reforo,,ca to 3 few facts derived

y
iron our commercial statistics.
The production Of precious metals
in the United States from 1919 TO
1887, inclusive, amounted TO 1919,
600, 900; from 1858 TO 1860, inclu.
sive, sl37,5O0. 900; and from 1861
10 1867, Inclusive, to S+57 50D, 900;
making a grand aggregate ofpro.
ducts, since 1919, Of 81 Ia, 100000,
Theamoant Of specie coined from
1919 10 1851, inclnsive. was 1885,
900, 900; from 1858 TO 1860, inclu.
sivc, Sl25,0 100000; and from 1861
to 1867, inclusive, $4,000, 900,
making a total coinage since 1919,
.of Ss7f, f,OO0.0OO
From le49 to 1857, inclusive, the
net exports Of specie amounted to
S2Tl, ,0CO.0 from 1853 to 1860,
inclusive, to sl48,O00, 900, and from
1861 to 1867, inclusive, to S322,-
900, 900, making tho aggregate Of
net exports since 1919, S74l,000,-
900. These figures show an excess
of product over net exports Of
S433,OOO,000.
There are in The Treasury Sill. !.
900, 900 in coin, something more
than $40, ,0O0,00 in circulation on
the Pacific coast, aud few mil
lions in National and other banks,
in all, about Sl6O,OO0,000 This,
however, taking into account the
specie in the country prior to 1919,
ieaves more than $500, 600, UU0
which have not been accounted Tor
oy expectation, and therefore may
yet remain in the country.
These arc important facts and
show how completely an interior
currency will Superscde better;
forcing 1t from circulation among
the masses, and causing it to be
exported us mere article OF trade,
Lo adj 10 the money capital of for
eign lands. They show tho ne.
cessity OF retiring our paper money,
that return OF gold aud silver TO
tue avenues Of trade may be invit.
ed, and Il demand, created which
will cause the retention ut home ol
at least 50 much Of the pro iuction
OF our rich and inexhaustlble gold.
bearing fields as may be sufficient
for the purposes of circulation. II
IL unreasonable to expect a return
to u asound currency so long az the
government, BY continuing to is.
sue irredeemable notes, fills the
channels OF circulation with do
preoiated paper.
Notwithstanding the coinage by
our mints since 1919. of 1871, ,OOO,-
900, the people are strangers TO the
currency which was designed tor
,hcir use and benefit. Specimens
Of the precious metals, bearing the
national dovice, are seldom seen
except when produced TO crafty
interest or excite by their novelty
Ii appreciated paper is to be con
tinued as the permanent currency
Of the country, and all our coin il
10 become q nero article OF traffic
and speculation, TO the enhance.
!ment in price Of all that is inds.
pcnsable TO the comfort OF the peo
plc, ii would be wise economy t.
abolish our mints, thus saving the
nation the care and expense Incl
dent TO such establishments, and
lot all our precious metals be OK
ported in bullion.
Tho time has come, however
when the Government and tho n
tional banks should DO required t,
TO take most efficient steps and
make all necessary arrangcmcntt
for u resumption Of specie pay
ments ut tho earliest practicabl,
period. Specie payments having
been once resumed, by Govern
ments and banks, all notes or bill,
OF paper issued by either of q les,
denomination than twenty dollar!
should by law be excluded from
circulation, 80 that the people may
have the benefit and convenienc,
Of u gold and silver currency
which in all their business tran
factions will bo uniform 10 valu,
at home and abroad. Every MAJ
Of property or industry, every maj
who desires to preserve what h,
honestly possesses, or to obtain
what he can honestly earn, has
direct interest in maintaining SAT
circulating medium; such me
dium as shall bc real and sibslan
tIal, not liable to vibrate with opin
ions; not subject to be blown up o
blown down by u breath of specu
lation, but TO be made stable an,
secure.
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