The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1867-12-10

same time prohibiting tie etates truta
making aaylhing bai gold and silver
tender iu payment - debts. The ano
msloas condition of our curreaey Is IL
striking contrast with that which vas
originally Designed oar cremation
nov embrRce FIRST. notes II National
Banks. which arc made renewable Tor
az dues 70 the Government, excluding
imports and by at tts creditors e&cep.
ting ~ payment Of interest upon It's
bonds aud the securities themselves.
SECOND, lelssl tender notes iSned by the
United States. aud which ihe AN r.
Quires shall b. received ~ Vel IN paw
ment 81 an debts between citizens AZ ~
al Government dues. excepting imports
and third. gold anil SILVER coin. ~ thc
operation ~ oar present system 81
I finances, however, the metallic currcus
7 cy when collected, is reserved only iar
one class ~ Government creditors. who,
holding lts bonds. semi annually receive
7 their interest III com from the National
4 Treasury, They are thus made 10 oc-
cupy an invid'ous position which may
81 used 70 strengthen the arguments ~
those who would bring into disroputc
the obligations % the nation ia the
PAYMENT 81 All its duts the plighted
/ faith Of the Government should bo in
wclably maintained But while it acts
with fidelity towards tho bonaholdor
who loaned his money that the iniog-
rity Of tho Union might be preserved.
lit should at the same time observe good
faith with the great masses Of the peo-
pie, who, having rescued the Union
from the pcrils Of rebellion, now bear
the burdens Of taxation that the Gov
eminent may be able to fulfil its en-
gagcments Thore is no reason which
will be accepted ms satisfactory by the
people while those who defend us on
the land and protect us on the soa, the
pensioner upon the gratitude 81 the IA
ton, bearing tue scars and wounds TO
oeiyed whlo III its service, the pubic
servants IN tho various departments 81
the Government, the farmer who sup.
piles the soldiers Of the army and tho
sailors OF tho navy, the artizen who
tolls in the nations workshops, or thc
mechanic and labcTcrs who build itt
edifices and construct its forts and YES.
sels of war, should in payment Of their
just and hard earned dnes receive de.
preciated paper, while another class d
their countrymen, 10 more deserving
are paid in coin OF gold and silver.
Equal and exact justice requires thai
}, Ia the creditors OF the government
, should be paid in a currency possessing
a uniform valuo. This can only be nc
, complished by the restoration Of tic
cnrreucy 10 the standard established By
the Constitution, and by this means ",
would remove a discrimination whicl
may, if il has not already done SO, ere
ate prejudice that may become deep
rooted and widespread, and imperl
the national credit. The feasibility d
making our currency correspond will
the constitutional standard may b,
seen by reference to few facts deriseo
from our commercial statistics. Til,
] production Of precious metals IN tn
, United States from 1849 to 1857 lnclu
/ sive, amounted to $4,000, 600; from
1858 to 1860 inclusive, $l37, 800, 0UU
and from 1861 to 1865 incl isiye {,
Si57 BOO, 900, making the graed aggre
gate OF products since 1919 $l,17i,U00
. 600 TIE amount Of specie coiueC
from 1849 to 1857 inclusive, WAS $f33,
0O0. COO. From 1858 10 1860 inclusive
$l25, 600, 900, and from 1861 to 1867 in
elusive, $4,000 coo, making the tota
coinage since 1649, $374 100000. From
l849 to 1857 inclusive. the net export
Of specie amounted to $27l 600, 600
from 1853 to 1850 inclusive 10 $l4S,00O,
600, and from 1861 to 1867 inclusive b
1922, 600, 600; making the aggregate q
net exports sinco 1910 $74l, 100000
These figures show an excess Of pro
duct over net exports Of SI33, Don
There ARE in tho Treas. Sill 100000 ii
coin, something more than 4O,000,O0
/ dollars iii circulation on the Paciti
coast, and few millions III tile Nation
al and other banks, III all about loo,
900, 900 dollars. Tins however takInI
) into account the specie IN the countr
| prior to lS49, leaves more than tire
: hundred millions OF dollars which hay
D not been accounted for by expectation
} and therefore may yet remain in th
country. These ale important facts
| and show how completely the inferlo
currency viii snpelsede the better, fore
. ing it from circulation among the mass
5 es, and causing it to be exported as
mere article OF trade, 10 add to the mon
ey capital of foreign lands. They sho'
I the necessity Of retiring our pape
3 money, that The return Of gold an'
i silver to the avenues OF trade may b.
, Invited and demand created ~hlcl
will cause the retention at home Of "a
s least SO much Of the productions Of OH
I rich and inoxhuustibie gold beaIinl
/ fields as may be sufficient for purpose
: Of circulation. IL il unreasonable L
q expect return 10 Il sound currency II
[ long az the Government by continuing
| to lDsue irredeemable notes fills til
: channels 0f circulation with depreciato'
| paper Notwithstanding u coinage b
! our minis since lo49 Of eight hundrel
: and seventy-four millions of dollars, tn
! people are now strangers to the curren
: cy which WAS designated for their us
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