The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-12-13

tof specie amounted to 1871 ,o0O. 600;
from 1853 to 1860 inclusive, to $780,
100000. aud from 1861 10 1867 inclu-
sive. TO S522, OO0, 600, making the az
100000.
These figures show an exe.ss Of nros
duct over net exports of S4SS, OOO, 600.
There are IN the Treasury Sill 900. 900.
in coin, something more than $40 900
900, ia circulation on the Pacific coast.
and 8 few million in the national and
other banks. in al about Sl6O, O0O, 900.
This, however, taking into account the
specie in lhe country prior to l849 leaves
more than $500. 900 900 which have not
been accounted for by expectation. and
therefore, may yet remain In the country.
These are important facts, and show
how completely inferior currency will
supercede better, forcing II from circu-
lation among the masses, and causing It
10 be exported as a mere article of lrade'
to add money and capital in foreign lands.
They show the necessity of retiring our
paper money, that the return of gold aud
silver to the avenues of trade may be To-
vited. and demand created which will
cause retention al home of at least 60
much of the productions of our rich and
inexhaustibie gold bearing fields as may
be sufficient for the purpose of circulatien.
Il is unreasonable to expect return to
q sound currency, so long as the Govsra-
ment, by continuing to issue irredsema-
BILE notes, fills the channels of circulation,
with deprecated paper. Notwithstanding
the coinage by our minis since 1910 OF
eight hundred and seventy four million
dollars, people are now straugersto & cur
rency which was designed for their use
and benefit, and specimens of the precious
metals bsariDg the national device are
seldom seeO, except when produced to
! crafty the interest excited by their now
city. II deprecated paper is to be con-
tInued as the permanent currency Of the
couHtry, and all our coin is TO become =
mere article of traffic and speculation, 10
the enhancement. 10 price of all that Is
indispensable 10 the comfort of the people,
! it would be wise economy TO abolish our
minis. thus saving the nation the care
and expense incident to such establish
ments. aud let all our precious metals be
exported ia bullion.
The time has come, however, when this
government aud uatioual banks should be
required to take most efficient steps and
make all necessary arrangements fer q
| resumption of specie payments 1t the
earliest practicable period. Specie pay
menIs having been once resumed by the
! government and banks, all notes or bills
of paper issued by either of a less demon.
ination than twenty dolalrs. shORld by
law be excluded from circulation, so that
the people may have the benefit and con-
vsnience of q gold asd silver currency
which, 10 all their business transactions,
will be uniform 10 value at home and
abroad.
Every man Of property or Industry. sv.
cry man who desires to preserve what bs
honestly possesses, or to obtain what be
can honestly earn, has direct interest in
maintaining circulating medium; such q
medium az shall be real add substantial.
and not liable to YIbrate with opinions,
not subject to be blown up or blown down
by the breath of speculation, bat TO be
made stable and secure.
A disordered currency is one of the crest
political evils; it undermines virtues uecss-
sary for the support of the social systsm,
and encourages propensities destructive
of its happiness; 1t wars against Industry,
lrugality, and economy. and it fosters the
evil spirits OF e1travagance and specula~
ton. II has been asserted by one of our
profound and most gifted statesmen. that
OF all the conLrivancss for cheating the
lsbOring classes of mankind, none has
been more efectusl than that which de-
ludes them with paper money. This is
/ the most etfectusl OF inventions TO fertil.
izs the rich mans fields by the sweat of
the poor mans brow. Ordinary tyran-
ny, oppression aud excessive taxation-
these bear lightly on the happiness of a
man OF of community compared. with
fraudulent currency aud the robberies
com mitted by deprecated paper. Our
own history is recording Cor her instruc-
ton enough and more than enough ofths
/ demorsllzIng tendency, Injustiss aud in.
tOleTable oppression on the virtuous and
well disposed hf a degraded paper cur.
rency, authorized by law, or in any way
countenanced by the government. 1t is
one of the most successful devices of the
times, peace or war expansions or revolu-
lions, 10 accomplish the transfer Of The
precious metals from the mass of the peo-
pie into the hands OF a few, where thsy
are boarded in secret places or deposited
iD strong boxes, under bolts and bars.
while the people are left to endure Ell the
inconvenience, sacrifice and dem0rslIztion
resulting from the usS of deprecated and
worthless paper money.
The Condition of our finances and on
erslIons and our revenue systems ars set
forth and iully explained 10 the able and
inst ucIiVe report u the Secretary of the
Treasury. On the 3Olh of June. 1886,
the public deb amounted to So 797, 1885,
879 On ihe 3U,h OF June last II was
SO 692 1919 879, showing a reduction dur
! ing tue fiscal year OF S9I .226 666. Dur.
ing the fiscal year ending June 500,
/ 1867. the receipts were 1890 634.OIO
aud The expenditures 1916 .729 l29 leav-
ing an available surplus S143 9O4 $50.
L Is estimated that the receipts fof the
fiscal year endiog June 3Oth 1853, will be
SAT-, ISL .929, aud that the exped,Eurss
will reach the sum of 1898 269 .926 Iest.
ing in the treasury surplus of 8 % $685.
7O9. For the fiscal year ending June
3O.h, it Is estimated t at The receipts vii
amuunt to 1891 600 600. and tbes the
the expenditures will be $4,000, 900,
showing an excess pfSe. 900. o00. IN favor
of the govern ment.
CHICAGO exDended SsOO O0O - ILL