The Evansville journal., 1867-12-04

There are In the Treasury Sill OOO,-
600. in coin something more than
$40, 100000 in circulation on the Pa
cific coast, and a few millions In the
National and other banks, in all
about $160 000,000 This however,
taking into account the specie In the,
country prior to lS49, leaves more.
than three hundred million dollars
which have not been accounted for
by exportation, and, therefore. may
yet remain In the country. These
are important facts, and show how
completely an inferior currency will
supersede a better, forcing 1t from
circulation among the masses, and
causing it to be exported as mere
article Of trade, to add to the money
capital of foreign lands. They show
the necessity of retiring our paper
money, that the return of gold and
silver to the avenues of trade may be
invited, and a demand created which
will cause the retention at home of at
least so much of the productions of
our rich and inaxhaustible gold
bearing fields as may be sufficient for
purposes Of circulation.
1t is unreasonable to expect a re-
turn to a sound currency so long as
Government, by continuing to issue
irreAeemable notes, fills the channels
OF circulation with deprecated paper.
Notwithstanding the coinage by our
mints, since 1S49, of eight hundred
and seventy-four million dollars, the
people are now strangers to the cur
rency which was desigaed for their
use and benefit, and spf linens of the
precious metals bearing the national
device are seldom seen, except when
produced to crafty the interest ex-
cited by their novelty. If deprecated
currency is to be continued as the
permanent currency of the country,
and all our coin is to become a mere
article of traffic, and speculation. to
the enhancement in price of all that
is indispensable to the comfort of the
people, it would be wise economy to
abolish our mints, thus saving the ma
tion the care and expense incident to
such establishments, and let all our
precious metals be exported in bull
lion.
The time has come, however, when
the Government and the National
Banks should be required to take
most efficient steps and make all
necessary arrangements for resump-
ton of specie payments at the earliest
practicable period. Specie payments
having been once resumed, by Gov
ernlnent and banks, all notes or bills
of paper issued by. either of less
denomination than twenty. dollars
should by law be excluded from cir
cuiation, so that the people may have
the benefit and convenience of a gold
and silver currency, which in all their
business transact ons will be uniform
in value at home and abroad Every
man Of property or industry, every
man W 90 desires to preserve what he
honestly possesses, or to obtain what
he can honestly earn, has direct in
terest In maintaining d safe circu-
lating medium; such a medium as
shall be real and substantial, not
liable TO vibrate with opinions; not
subject to be blown up or blown
down by breath of speculation, but
TO be made stable and secure.
PACIFIC RAILROAD.
Since the commencement of the
second session of the Thirty ninth
Congress, five hundred and ten miles
of road have been constructed on the
main line and branches of the Pacific
Railway. The line from Omaha is
rapidly approaching the eastern base
of the Rocky Mountains, while the
terminus of the last section of con-
structed road in California, accepted
by Government, on the 24th of Octo-
Der last, was but eleven miles distant
L, = - \ L l.
The remarkable energy evinced by
the companies offers the strongest as
surance that the completion of the
road from Sacramento to Omaha will
be not long deferred.
PUBLIC LANDS.
During the last fiscal year 7,041, Id
acres Of public land were disposed of
and the cash receipts from sales and
fees exceeded by one half million dol
lars the sum realized from those
sources during the preceding year.
PENSIONS.
The amount paid to pensioners, in
cluding the expenses of disburse-
ments, was $18,619,956; and 36,482
names were added to the ROLL The
entire number of pensioners on the
Both of June last was 155, ,474.
PATENTS.
Eleven thousand six hundred and
fifty-fve patents and designs were is
sued during the year ending Septem-
Der 80, 1867, and at that date the bal
ance in the Treasury to the credit of
the Patent Fund was $286,607.
THE NAVY.
The report of the Secretary of the
Navy states that we have seven