Natchitoches spectator. [volume] (Natchitoches, La.) 1867-18??, 1867-12-19

than $500, 00O, 900 which have not been
accounted for by expectation, and.
therefore, may yet remain in the couns
try. These are important facts, and
show. how completely an, inferior cur
rency will snpefsede better, forcing it
from circulation. among the masses, and
causing it to be exposed as mere ar
ticle of trade, to add to the money capt.
tai 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 re-
tention at home of at least SO much OF
the productions of our rich and mex
haustible gold bearing fields as may be
sufficient for purposes of circulation.
It is unreasonable to expect return
to sound currency SO long as the Gov
eminent, by continuing to issue ire
deemable notes, fills the channels of cir
culation with deprecated paper.
notwithstanding the coinage by our
mints, since 1910, of 1914 ,OOO, 200, the
people are now strangers to the eurren-
cy which was designed for their use and
benefit, and specimens of the precious
metals bearing the national device are
seldom seen except when produced to
crafty the interest excited by their
novelty. LEataNa sta ti
1t deprecated paper is to be continued
as the permanent currency of the coun-
try, and all our coin is to become mere
article of traffic and speculation to the
enhancement in price of all that is indis.
pensaple to the comfort of the people, it
would he wise economy to abolish our
mints, thus saving the nation the care
and expense incident to such establish
ments, and let all our precious metals
be exported in bullion. a3atE
The time has come, however, when the
Government and national banks should
be required to take the most efficient
steps and make all necessary arrange
ments for q resumption of specie pay
ments at the earliest practicable period.
Specie payments having been once re-
sumed, by governments and the banks,
all notes or bills of paper issued by either
of a less denomination than twenty dol
lars should by law be excluded from cir
culation, so that the people may have
the benefit and convenience of q gold
and silver currency, which in all their
business transactions will be unifoI m in
value at home and abroad. Every man
of property and industry, every man
who desires to preserve what ne honest
ly possesses, or to obtain what he can
honestly earn, has direct interest in
maintaining safe circulating medium;
such q medium as shall be real and sub
stantial, not liable to vibrate with opin-
ions; not subject to be blown up or
blown down by a breath of speculation,
but I'd be made stable and secure. b
A disordered currency is one of the
greatest political evils. It undermines
the virtues necessary for the support OF
the social system, and encourages pro-
pensities destructive of it's happiness; it
wars against industry, frugality, and
economy, and ii fosters the evil spirits
of extravaganza and speculation" II
has been asserted by one of our profound
and most gifted statesmen, that "of all
the contrivances for cheating the labor
! ing classes of mankind, none has been
more efectual than that which deludes
them with paper. money. This is the
most effectual of inventions to fertilize
the rich mans field by the sweat of the
poor mans brow. Ordinary TYRANNY
oppression, excessive taxation--these
bear lightly on the happiness of the
mass of the community compared with
a fraudulent currency, end the robberies
committed by deprecated paper. OuI
own history has recorded for our iustruc
tion enough, and more than enough OF
the demoralizing tendency, the Injustice
and the intolerable oppression OH the
virtuous and well-disposed of a degraded
paper currency unauthorized by law OF
in any way countenanced by Govern
ment." 1t is one of the most successful
devices, in times of peace OF war, ex
pansions or revulsions, to accomplish
the transfer of all the precious metals
from the great mass of the people into
I the hands of the few, where they are
boarded in secret places or deposited in
strong boxes under bolts and bars, while
the people are left to endure all the in
convenience, sacrifice and demoraliza
ton resulting from the use of a depre
ciated and worthless paper money.
The condition of our finances and the
operations of our revenue system are
set forth anil fully explained in the able
and instructive report of the Secretary
of the Treasury. On the 3Oth of June
1866, the public debt amounted t.
80, 1888, 425, S79; on the 3Oth of june last
it was S2,692, 199, 215, showing a reduc
ton during the fiscal year of $91 ,226,
664. During the fiscal year ending june
80, 1867, the receipts were $500, 634 ,O1O
and the expenditures S346, 729, 100, leav
ing an available surplus of $143, 9O4 $50
1t is estimated that the receipts for the
fiscal year ending June 30, 1868, will be
! Sl17 161 02S and that fba aNYnAD6ituras