The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-12-04


great prcdccosso q. 49, - ., ,,,,
Tao present condition of our finances and circulating
r, nm is ono to which your carly consideration Is IN
viLcd ., - - .,,,
coun ry nhould bear to tho whoic value OIL TIC
nnuul! produce cirouitod by It's m=an' ID D
oIcs.i1n upon which political cconlmist1 havo not
arcod Nor clu It he contr cd ny cesaon ou' @ ilu,'
bo left t. the irrOyOcabic laws WHICH cvcS "Stu
Int comInc rcc aud trade Tho cir uating medium wiz
over rrcsis IDLY Dw TO those potS wcrc II Is III c4e
at demand he law OF dem IN ana supply is @ "a u''
crriLg that which regulates tiu uu a u t hh md
d md cd currn .cS, like tho uueo; ,''S tS' 'No ~
flows throughout the cVmniartiii "o.Lo' o,, ,,ror
A. tho be ming of the rebellion The banl-notc clrcu-
laon tho country amounted On, NJ, ,a .,rc o.ion Of
a.ioaIl Bank notes. uDd tneSe Au""h "a w. 4, =,
ds,a"iJ nearly sven huudrod mil l)hs' WI 10 =. "a
urccd by that this amount snou'o Dc Loh,1oi,
- IRA contend TINT decided rcducu IN IL aoSoiuoI,
sen Ia TO to at inLe css oil the county M ;" ~ ~
thrg. div rsi iniOns 1t may be wei u a'Gsi.,in @
real vaiuc OF onrppcr Issues wcu rnose lat us in
,ac couvc,ub curcrucy FOE 'nis pun pho hv
nrrc how inu ii god aud ailver cCuI Do Paiona1 ~ =!
tic sevel hundred millions o' paper nCn'J NV .,
chi tor7 Probably no. more than hail .he uniouns "
cnn Ilt,r-showiu, init when paper currency IS
compared with so and silver, It's coii.-u Nh s
couprc cl intJ three lundrol anu MY t =.
.tlLii. tict make, II thu cDvou' GUY VI -o
t M =, Iy as m ~ lo co. sidcnt vi ,hc principles
o. SOU political my, 10 taho S.Su - 20 80 >,
wi. c40 the holder o its not-3 huu , . go snori,
,,ouu uks 20 ccuvcr tncn without Ioss iuto spo-e
mr. ,,y cuuiya!cn rcduc ion of our paper circulating
III .diuu Ic@d not nccc sari'y ioi oW' IL, % NJ,
would Icl end Upo INC " oI ueii 'r I ';o - iaroI
h,urh il should 10 bo uc in mind tat by naKine e9a
ndr anu pauk uo as convertible into coin or II equV4-
lent their pr Seat spocc value IN Inc Ia ns ~ "a
40 dcra wou Ec enhanced one hundfed pEf e I 5o
Le isation the ucc mplisAlncnt OF fesI'. % 49, ~
ar.b,c is dema ndeI by tho yhest pupnc
The Constitution couleinpa e' nat tne - ii-3 ord
dunn OF tic ntrY snail DC ulnor", - qy H.. Let
VAIL at tho hno OF ho form tol VI iu's n,' ~. ,s
, u,trv II n, inst enerIed ron the war OF tue heTc-
uio ana sulcrln from the cneits Oi S -
uu worthless Iuycc currency. Tho sa2c5 o. ina Pc
| r6t,a IN r,rJtO
owls which thy tae nscves had e1 'eflenc.u u iI@s
~ providing circulating medium, they conerLeu W -
EcuCres5 tue power 70 coin money "nu feeuia.y - "a.
-In .ncrc Il; q; The I'M, prohlolnn6 Ito States
OH mailing auyt lug but god anu hi''ef "no'' -
paymont OF Its. . l., &, etr;,,.
i,c contrast Wit, hal which or16lLahy ces 8Eeu'
our circulation emDIaces MS hoteS u VIC ~
~ yauks winch ale made receivable lot aii oues 10 liz
meat excluding impost and ny oil It's cieatoIs'
tInc in yment OF in crest upon It's bones ano to
80 ur les ihcnlsev 81 second gaitcnder note, l4sueu
Dy III United Stlcs and VII ch 'e law req snaIt o
receive rs well in ra! men OF uli deos
of nh tioycume II dues excepting lmposts; anu thiro,
gold aud silver coin By the ope alton oi ouI -
lin nee, however the ueillc currcncy' WIEN so.eC
Cd reserved ony Tor ono class o. -, a.
;Jrs Who hoiuiu la bouds semi-1nnua ~ reco We 'nc
interest in ooin IRON NauOnai treasury. my tS
tilu II 10 occupy invdi US postion WHICH M
DC ,cd 10 rengthen the arguments oi tnose "no "ou
or;n inio tsreIu the obi atoms If the nation. III
he payment OF all It's debts. the plSnt aii Vi iS
Cover sho Id be iuvcGby Inaln'alhed' Dut "nc
IL acts Wild Il .e.l,y tOWuIu tilO
M money h t the Integrity Ct tho Union might Dc pre-
served. /. should o. Tie scmo hlno opscrVc eoou a
with he great Of the people, WHo nav nk
he Union from The peril5 vi Rebellion, now pear tne
ur,,ens of taxation that tho Government may DC
iLle III I'll ITS cIgigam ,nts lhsre Is no reaspn
VIII h will be accepted as 81 sacory oy tne , ne
SO who dcien. Us on the lano and protcc' US
&c sea; the :nion uyon the grItitude OF tne nl-
ioo, bearing WOUNDS recoNe1 "iiie i i.s
Jerve ta- public seryIDts IN tue var Gus nn ao
OF 20 Government; the f.rmer who suppl es the soi
i.rs ot lLe army and the sailors OF the navy Tue
4rtisan who tolls in the nations WORKSHOPS VI we
mechanics and lIGorers who poi'd3 i'5 euinceS Auu
cons ruct, its iors and VI war-snouu IL pay.
ent Of thoir lust and nareatned Iues, receive uepre-
iated lper another cllss VI the country nc
deserving, are paid IN con OF 10 anu 'o snYea
oual eud exact ustic reg lires that ali The edtor
II tho Government should be paid III currency Pos-
;esstle Uni orl value. his can only De atcoLipisH.
ed b. the les oraion Of the currcnc! to 'be ss~ndard
st1b.ish,d by tae cons itltion AID by his means
W. would remove discr nlinl ion which may II nus
ot Already create prejudice taat may oecoine
eep-rJoel and widespread nd lmpe IL Tie ni''ona
creIit. ..a !
The fash lily OF making our currency correspond
vi the colstu ional standard ray be seen py refer
- TO few iacss derived from our conaS-ciai s'-'
tis!.cs.
49,. product Ip-eci'1i metals 10 the Unlted Sta taf
iroa 1919 70 1871, inclusive aLonntsd 10
rom 1853 10 1861 lucu ,ive to S.3I 6OCOOJ; and from
1851 to 1871 Inclusive 10 S45 5o0 0oO-aAins the granD
Iggrc ,a,e OF products sinro ls49' sl,ii4 OVo0VO'
ne amount OF specie co ned from 18is 70 1884,
Inclusive. sA3s 0OuJO; from 1893 70 lSoU
BPS w ~. o; from isGI 10 lo67, iLolislve 80 u
JoJ 00-ulking the total coinass since Ie4. >of
~. From si9 to 1857. Inclusive, tie LET txpos o.
,pe,ie aro pt-d to QUO; troL 1858 to leG0, In
usi 10 s143roo.ULo; f:on 1851 10 1871 Leu
,ve, 1922 UJ-makIG tIe uEgregate oil net exports
since ls49 s74luo0o00 These tgures ah W sn ex' ess
J p oduce export OF SiS5 t0JOoo. Ihere UT.
ia TIE Treasury Sill C0000 IL coin, sonnet lug noIt
S&U,0I0 0J0 In Circulation cn the racine coas anu
l lew milo IL the nad nal nld other oan's-la i
lJou Sl6o OJ0 001 This however taking INTO aIcoui
the specie in tho coun ~ prior TO l9 elves ri0re than
.nro; nua red mill rs OF doarl whi;h nave NOT 20
ccolntod for by exp rtAon end thece orc may yet re-
.nai3 IL the country.
Tncse arc import mt facts and show how completely
the Inferior currency will supcrs de thu better iorcing
rom circulation among the asse;, cad 'auslng 1t 10 Ut
eyporto IS article OF tad, &c fdd 70 tnc money
capital OF iorcgl laads. lbey show tho nccessy o re
ii - our peg ole4, that the return o.3od and silver
ID Tie av .ues g tcadc may he invted acd ceoGno
c.cltc which vii clusc tho reon Ion J. nome OF IL les
n mn IN OF TIC u-oducous OF or nth aud lnexLeus1
DC godbcarinC tcds 81 lLay TO SUN lent ior purposes
OF circulation J. 10 unre sonabo 10 expect return &c
sou currency lon;. IS he Government, oy condnu-
70 to redearnab notes. ills the cnannels o1 clr'
.u!.:ioc with depreiated paper. Notw!tnsianulnG .
onag by olr mints, slGce lS4 OF eignt hundrea ana
,cvsl y-fvur mi lions OF oolar' tno peope are uu"
stranger, to the currency which was des gncd Tor ntlf
use and 5clo3t, aud specimens OF the precious mets
90 ring national device are seldog seen except Wnen
oroduc to crafty the il e1est excited by their novelty
ii depreciated paper be continued as the permalen
currency the country aa a our coin Is to become
article or traffic and speculation 10 the enha.ee
incnt i'll price al! that is indispensable to the
romlort OF the PEOPLE, It would be wise economy 10
lDolish our mnts, thus saving the haaon Tue
care expense incid iut 20 su'n essaonsnmens
and let oil our precious metals be exported IN 6unoi
Tho time has come, however, won the Government
and national blnks should b. required to tax the mol
eHcicnt steps and make al necessary arrangements io
resumption OF specie paymcnt9 at the earliest pracu;-
bio DC. ioI. Specie payments having been onco re-
5uned by tho Government md banka al notes or biLs
Of per issued by either OF less denomination than
lnty dollars should By law ca excl uded from circua
io so that the .opc may have the cement ana conve
ncnce OF gold and sllvor currency Tnlcl IN oil the1
business transactions will bo uniform in 7aue at no.
ana q road.
livery man of property or industry. every m1n who
Scs .s to preserve what he honestly possesses, or t.
OBTAIN what nc honestly earn, has direct In
ioro,. III m intaining eaic CIR VI ting modiun-
such medium sh II bo ROLAND subs anil notIiaoh
To viortc with opinions not subject to be blown up or
blown down ty the breath OF spcculition, but to be
made stable and secure disorueed currency Is one
OF tho rcltesl political evils II unecraios the virtues
necessary 10. Ito support O! tso aJcll system anu en
cJura-e prop nsitics destructive 81 lis happiness
wars against industry frugIity, aid economy, and ii
loslers evil epirts OF exravagance and specuauon
1t Us been ct by OF our profound and most
gfc stat sncn that 20. al Ia coa'-a ices ZOE cnea
ing the 2borug ca see OF nanIni uonc Lag been more
eG .ciual than that which dcludes them with paper
money. Tais Is tho mos cfecu OF inventions to Ter
izc the 1ich r2aa's fields by he sweao OF me poor man
urow Ordinary tyranny oppression. excessive
these bear gat! on the happiness OF the mass Oh the
community compared witt fandlilcht currency, and
the robbcries committed By dpreciased paper Our on
hiltocy las recorded fo- our INSTRUCTION enough aad
more than enough Of tho deulorAiz tendency the ILL
il ticc and the lntoeabe oppression on tnc Vrtuous
aud weld sposcd OF degraded palcr currency author-
ized BY law any countc anced oy Cover men :"
II Is oac ;he successful evices in times OF peace
c. ar expansions or revusions. to accomplish the
scansie. OF all the pr cioas metals fson the great
mass OF the people ro tie hands OF the
few w.ero they are boarded in secret paces or de-
posted In tronS boxes under bolts and bars, wnl the
D. pie arc lei: endure u te inconvenience, "A rih c
and e.nora zld ting from h; u.s. Of deprccia-
d ani he paper money
The eoadt OF our The operat rs o!
III venue stem Set forth aud irl ) explained in
c bi instr c;ive rep, I he seer ta OF til
rr suy on t o SOt of June 1866, the public d bt
amounted 10 s2,73 425 s79; 3Dti Jun 8, 1t
vas - CO., l90 2l5 owing Ieuci durtn tn fiscal
yes 20 &9l. .o6i. Du gt c e year endi June
&c. 1867 TIC ecepts $500 49,. o10 and the pc d.
tu $40 l2V. lcavin an vliab u Plus OF sl43-
94e3o L. is sLnIted til tie cecei L '"rt Is,as
YEA cnding June 3d. 1868 VIII SAT- 1928 and that
ihc p-DGi ures wi reach sln of 393 269226 cv-
~ in Teasury surplus OF 81, ,S92. '02. 10 lhc
ii.cli yer eud ne SO, 1867 i; 10 stiua.e that TIL
receipts | 1ou tt s39l 0O0G0Q, auu II t e.pon
dtucs lbo $372 co., 0U shown an e-cessoi e9CcG0OJ