The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1867-12-11

"iNo IiiIilplo VI uoiidio hhNi ho' y
net been accounted for by exporta-
tion, and therefore may yet remain in
the country.
These are important facts, and show
how completely the inferior currency
will supcrcede the better, forcing it
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 demand created which
will cause the retention at home of at
least so much of the productions OF
our rich and inexhaustible gold bear
ing fields as may be sufficient for pur-
poses ofcirculation. 1t is unreason-
able to expect return to sound cur
rency so long as the Government, by
continuing to issue irredeemable notes,
fills the channels of circulation with
deprecated paper. Notwithstanding
coinage by our mints, since lS49, of
eight hundred and seventy-four mill
ions of dollars, the people are now
strangers to the currency which was
designed for their use and benefit, and
specimens of the precious metals bear
| ing the national device are seldom
seen, except when produced to CRAFTY
the interest excited by their novelty
If deprecated paper is to be continued
as the permanent currency of the
country, and all our coin is to become
mere article Of traffic, and specula-
tion, to the enhancement in price of all
that is indispcnsableto to the comfort OF
the people, it would be wise economy
to abolish our mints, thus saving the
nation the care and expense incident tc
such establishments, and let all ouI
precious metals be exported in bullion
| The time has cCme, however, when
| the Government and National Banks
should be required to take the most
efficient steps and make all necessary
arrangements for the resumption OF
specie payments at the earliest practi-
cable period. Specie payments having
been once resumed by the Govern
ment and Banks, all notes or bills o.
paper issued by either ola less de
nomination than twenty dollars should
by law be excluded from circulation
so that the people may have the bene,
ft.and convenience of a gold and silver
currency which in all their bushes,
transactions will be uniform in value
at home and abroad.
every man ofproperty, of industry
every man who desires to preserve
what he honestly possesses, or to OBJ,
tain what he can honestly earn, has ;
direct interest in maintaining a safe
circulating medium-such medium
as shall be real and substantial, MOI
liable to vibratc with opinions, not
subject to be blown up or blown down
but be stable and secure. A disorderet
currency is one of the greatest poltica
evils. 1t uudcrmines the virtue.
necessary to tLl.6 support of tho soc;a
system, and encourages propensitie;
destructive of its happiness ; it wall
against industry, frugality, and econo
my, and it fosters the evil spirit ofex,
travagancc and speculation" 1t ha
been asserted by one Of our profound
and most gifted statesmen, that "ofal
the contrivances for cheating the labor
4 ing classes of mankind, none has beer
more eilcctual than that which delude
them with paper money. This is th'
most etlectual of inventions to iertiliz
the rich mans fields by the sweat of th'
poor mans brow. Ordinary tyranny
oppression, excessive taxation-thes'
bear lightly on the happiness of th'
mass of the community compared will
a fraudulent currency, and the robbcr
les committed by deprecated paper
Our own history has recorded for ou
4 instruction enough, and more thar
enough of the demoralizing tendency
| the injustice, and the intolerable op
4 preston on the virtuops and well dis
(posed, of a degraded paper currency
authorized by law or in any way
countenanced by Government" 1t i.
zone of the most successful devices, il
times of peace or war, expansions o.
revulsions, to accomplish the transfer
Of all the precious metals from thu
great mass of the people into the hand
1 of the few, where they are boarded il
secret places or deposited in sirens
I boxes under bolts and bars, while tn,
people are left to endure all the incon
veniencc, sacrifice, and decentralization
resulting from the use of a deprecated
and worthless paper money.
I The condition of our finances ant
the operations of our revenue system
are set forth and fully explainedin th'
able and instructive report Of the Sec
retary of the Treasury. On the 3Otl
of June, 1866, the public debt amount
ed to $2,7S3, ,425,S79 on the Both o
\ June last it was $2,692, 1925, show
ling a reduction during the fiscal yeal
| cf S9l ,226,664. During the fsca
ye;,r ending June 3oth, 1867, the re
ceipts were $3.50, ,634,0lO, and the ex
penditu,es s346,729,l29, leaving al
available s;,l'plus of $l43,904,SSO. l
is estimated that tue receipts for th'
fiscal year ending June 30, 1868, vii
be $417,161 1928, and that the expendi
tures will reach the sum of 1898, 1868,
226, leaving in the Treasury surplu
Of S23,S92,7O2. For tie fiscal yea
! ending June 80, 1869, it il estimated
that tie receipts will amount TO 1881 !,