The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1867-01-09
$S4O,O00,000

FSfo,oVoiOOo
To which should be added for practical
considerations the State Bank circulation
and the very large amount OF small bo"ds
of $50 and 500 drnomlnatiens largely en-
tering INTO clrcu!atl0n,. and We Will have
5000, ,OlH). 900 or $1,000, ,O0O.UUU Of paper as
against not much over 500, OOH 900, OF re-
dCcmabic paper money be fore the war, with
probably double the amount OF business III
the country then than nnw. And II we are
to believe the money and trade repo, Is of
the press from all quarters, there is an u
usual stingcncy in all lost every branch OF
industry; so that an increase Ct S203, OG0,-
900 to the National Bank circulation is now
agitated in Congress.
Or readers are aware that MoWSand
millions United States bonds are payable
within the next eighteen months; some
800, 900, 00l or more OF which bear seven
and three tenthS interest and are due the
current year and payable in legal tenders
unless the creditors will take six per cout.
gold interest bonds whirh now command a
large premium i'll graenb cks.
There is strong and growing sentiment
in many sections among the people in favor
of printing off a thousand millions Of legal
tender greenbacks and paying this thousand
millions of bonds at oEce when due, on
which at seven and three-tenths interest
they are paying mere than seventy milliont
| year, drawn in the shape of taxes out of
their hard earnings; and treating the re-
manning bonds when due in like manner.
| The advocates of this scheme say that
| 5000, 600, 900 currency is entirely inadequate
to the business of the present population,
as the applications to Congress at this time
for additional monetary facilities show, and
| that this would only be responding little
| liberay to the present cal.-anl upon the
basis Of 5000, 900 900 to cur present census
Of 35,O0O000 of. people. the increase Of
population aud business in forty years it is
contendcd will require an amount of Gun
rency equal t3khe $1,000 0O0,O00 Of public
debt, all Of which it is proposed to pay off
in the same way. In advocacy of scheme
it is urged that an abundant ard safe cur
rency would be provided for the wants of
the people, and the payment Of the public
| debt voud at once be provided for, without
! drawing for cent upon the industry of the
country or postponing tor moment the
payment of any creditor
Without caring to engage in the discus
| sion Of subject so plausible in its state
mcnt and satisfactory to its advocates, we
have no doubt it will mset with the sup
| port OF strong party, lrrssp ctlvo Of pc.
| itical creed, both able in argument and nu
merous at the ballot box.
The Economist OF Il late date, in com.
| mcntpg upon tn; Imports and exports of
the country for tho year just past, says:
Tho imports into the United State, for
| the calendar year will aggregate about $435-
| 900 900 With the duties added this
would represent total cost to the impor-
ters at about s620, 900 0O0 in gold, or say
| SS63, 900, 900 in currency. With the sub.
sequcnt prof added it may be estimated
! tina. the eo.t of these goods to the consum,
CT will reach 81. .l30, 1000, 900, or S32 head
to each of the entire population
! While orr total exports for the year, cx-
| elusive of specie. ann unit IN 9reenbaeks to
| but about $175, 5,000,oJO.
| This, It should be recoiecfed, is exclu-
sivc of the enormous amount of contra
hand importations at every port from the
| British Possessions on the NORTH, to the
mouth Of the Rio Grande, and thence to
its source; and from Lower Ca ifornia on the
| Pacific to the British Possessions again on
the North Aided by the corrupt and OK
pert officials, whose bribed services. the re-
suit OF unprecedented temptations that the
most extravageit and unHise revt nue. laws
have ever before offered to a people in any
civilized cpnatry on earth, it is probable
that the Secretary Of the Treasury under.
rates the amount Of balance OF trade acGu
mulated against us from this saurcc