Wyoming democrat. [volume] (Tunkhannock, Wyoming Co., Pa.) 1867-1940, 1867-12-11

derived from our commercial statistics. The pro-
ducton of precious metals in the United States from
lSi9 to 1851, Inclusive amounted to $579 900 0OU:
from 1859 to 1850 inclusive, TO Sl37 500 900 and
from 1861 to 1867, inclusive to S457 500 600; max
ing grand aggregate of the products since lSi9 of
81, LA ,0OOO0O. The amount of specie coined from
1919 to 1851, inclusive, S439 000O 600; from 1858
10 1860, inclusive Sl25, 600 900 and from IS6I Co
1861 inclusive, S3l0 00G GOO; making total coinage
since lS49, S6I4 .OOO.OO0. From l3i9 to 1857 in
elusive the net exports Of specie amounted to S27l
0OOOOO; from 1853 to 1860, inclusive to Sl4s OOO,-
OOO; and from 1861 to 1867, inclusive 90 322 OOO
GUU; making an aggregate of net exports since l849
Ut Sf4l ,UUU,OvU. These figures show an excess of
product over net exports Of 433 600 C0o There are
in the Treasury sl 600 600 in coin something more
than SiO UUU OUU in circulation the Pacific coast
and few millions in National and other banks-in
all about $50 goo 600. This however, taking into
account the specie in the country prior lS49 leaves
more than S}00,Q00,000 which have not been ac-
counted tor By cxpOrta ton, and therefore may yet
remain in the country. These are important facts
and show how completely the inferior currency will
supercefs the better, forcing it from circulation
among the masses, and causing it TO be exported as
article Of trade 10 add to the money capital
of foreign lands. They show the necessity Of rctir
ing our paper money, that the return of gold and
silver to the avenues of ira may be invited, and
demand created which will cause the retention at
home of at least so much of the productions of
rich and inc nexhaustble gold bearing fields as may be
sufficient for the purposes OF circulation Jt Is un-
re lSunabe to expect q return to sound currency so
org as the Government by continuing to issue ire
deemable notes fills the channels of c culation with
deprecated paper. Notwi'E standing a coinage by
our mints since l69 of SS74 600 600 the people are
DOW strangers to the currency which was designed
for their and benefit, and specimens of the pre-
cious metals bearing the national device are seidom
seen except when produced crafty the interest ex
cited by their novelty If deprecated paper is to
be continued as the permanent currency of the
try aud all our coin rs to become a mere article Of
traffic and speculation, to the enhancement in price
of all that is to the comfort of the peo-
ple II would be wise economy to abolish our miute
thus saving the nation the care and expense incident
to such establishments, and let our precious metals
be exported In bullion. The time has come howev-
/ err when the Government and National Banks hGud
be required TO take most efficient steps, and make all
necessary arr DgemcntS for q resumption of specie
payments at the earliest practicable period. Specie
I payments having been resumed by the Govern
nent and banks all bills of paper issued by
| either OF less denomination than $50 should by
law be excluded from circulation so that the people
may have the benefit and convenience of a gold and
silver currency, which in all their business tranSac
| tions viii be uniform in value home and abroad.
/ - Every man of property or industry, every man
who desires to pr serve what he honestly possesses
or to OBTAIN what he can honestly arm, has direct
| interest in maintaining safe circulating medium
such medium as shall be real anil substantial-nOt
liable TO vlbrate with opinions, not subject to be
blown up or blown down by breath of speculation
| A
currency Is one Of the greatest political evils 1t
dermnes the virtues necessary for the support of the
social system and encourages prOpensites destruc-
tive Of its happiness 1t against industry fru
galy, and economy and it fosters the evil spirits Of
extravaganza and speculation" 1t has been assert
ed by one Of our most profound and most gifted
that " Of all c0Atrivauces of cheating the
| laborng classes of mankind has been more ef
| fectual than that which deules them with paper
money This IS the most efectual Of Inventions to
tertilize the 1ch mans fields by the sweat Of the
! poor mans brow. Ordinary yraEny oppression, the
excessive taxation these bear lightly on the happ
| ness of the mass Of the community, compared with
| fraudulent currency and the robberies committed
by deprecated paper Our own history has recorded
for our instruction enough and than enough Of
the den9ralzing tendency, the injustice and the in
| tolerable oppression the vrtuous and well-ds-
! posed Of degraded paper currency authorized by
! law, or in any way c1untenanced by the Govern
ment." 1t s one Of the most successful devices in
times OF peace or war; expansions or revuiS JnS. to
accomplish the transfer Of all precious metals from
the great mass Of the People into the hands of the
! few, where they boarded in secret places de-
posted in strong boxes unler bolts and ibars while
the people are left to endure all the inconvenience
sacrifice and decentralization resulting from the use
o. deprecated and worthless papermoney.
The condition of our finances and the operations of
our revenue system set forth and fully explained
IN the able and instructive report Of the Secretary Of
the Treasury. On the Both of June, 1866, the pIb
Tic ueDI ,4&o SI9; on Inc SUN
june last 1t was 81 692 100 2l5, showing reduction
during the fscal year Of S9l, <25 Gel. During the
fiscal year ending June 39th 1867 the receipts
$3.50 63 lOlO and expenditures S346 729 l29, leav-
ing available surplus of Sli} 904 $50 1t is esti
mated that the receipts for the fiscal year ending
June 3D. 1865, will be Sil7 l6l 925 and that the
penditures will reach the SUN Of 1893 269 226. leav
ing In the Treasury surplus Of S23 S92702 For the
fiscal year ending June 90 1869, It is estimated that
the receipts will amount TO 1881 900 000 and that
than III
excess Of s9,O00O 900 in favor Of the Government
THE REVENUE SERVICE.
The attention of Congress is earnestly invited to
the necessity Of thorough revision OF revenue
! system Our internal revenue laws and impost sys-
TEN should be adjusted to bear most heavily
articles of luxury leaving the necessares of life
free from taxation may be consistent with the
al wants OF the Government, economically admin
isered. Taxation would not then fall unduly on the
| man of moderate IEeans, and whIle none would be
entirely exempt from assessment all in proportion
TO their pecunlary abilities would contribute toward
the support of the State. modification Of the in
ternal revenue system by large reduction in the
number of articles subject tax, would be fol-
lowed by results equally advantageous to the citizen
| and the Government. 1t would render the execu-
tiCD of the law less expensive and certain,
distractions TO industry, lessen the temptations
to cvade the law, diminish violations and frauds per-
perra;ed upon its provisions make its operations ess
inquIsnOriu! and greatly reduce IN numbers the ar
my of tax gatherers created by the system, who
'' take from the month Of honest labor the bread it
has carmel " Retrenchment, reform, and economy
should be carried into every branch Of the public
service, that the expenditures of the Government
may be 1Uced and the peoI lie relieved from oppres-
sive taxation sound currency should be restored,
and the public faith N regard to The national debt
sacredy Observed. The accomplishment of these
important results together with the restoration of
the Union Of the States upon the principles of the
Constitution, would inspire confidence at home and
abroad in the stability of institutions, and bring
to the nation prosperity, peace and good will.
WAR DEPARTMENT,
The report of the Secretary of War ad interim ex-
hibits the operations of the army and the several
Bureaus Of the War Department. The aggregate
strength of military force the Both September
last 3l5. The total estim ate for military ap-
preparations is s77 l24 707 Including deficiency in
last years appropriation of SIS $4,000. Payments
the Treasury account of the service of the War
Department from Jan. to Oct. g. 1867, period
Of ten months amounted TO Sl09 S07 600 The ex-
penses of the military establishment we'll as the
numbers of the army are three times NJ great
as they have been in time of peace, while dis
cretionaTy power l. vested in the executive to add
millions to the expenditure by increase of the ar
1 NV In he ma Yimum STRENGTH allowed bv law