Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1867-12-27

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United States notes, making in all cur
rency in some form of $1,000, ,000, 900.
Surely there need not be any apprchen-
hension that we shall not have currency
enough.
He thought the government should keep
on hand liberal supply Of coin. In
round numbers the government has now
$s2,00o, 900 Of gold, while its own demand
| paper afoat amounts to over $S5O,O0O,-
900. II is doing banking business on !
gigantic scale, and to maintain the credit
Of its issues for circulation it must bold
stiong reserve of specie. The Bank Of
France is very strong in coin. and the
Bank Of England, also sustained By tho
credit Of Great Britain (for Il issues no
bills which are not represented by either
coin or consols) has much larger reserve
Of specie in proportion to its liabilities
than that held in the Treasury Of the
United States. Mr.. Morrill, explained the
provisions of his bin. ae'ss sA~ p'a
To guard against the dangers appre-
hended from the power Of The Secretary
Of the Treasury TO increase or diminish
gold at his pleasure, the bill provides that
the Secretary shall only sell gold at stated
periods, previously announced, together
with the sums to be sold So
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-. s'nu'l' ''''' - ''ey nov oo'a'n ''i upon
'nc Soiu ii''eres' received upon their oonds,
ana 'he'r di'iuehus VIII De curiailed, but
we shaii restore them 70 their legitimate
functions as banks OF discount as well as
OF circulation. Hitherto they have been
too exclusively institutions to make money
for their stockholders, rather than associa-
tions to lend capital for the ~taaiFnosis-
tion Of the public or to nsn agAgaa "a
ordinary business. Having letfaed Aido
spread hostility by so dom hey should
promptly mend their course or thay win
lose all chance to demonstrate tilat The
system, as national one, possesses, NJ il
does possess, many admirable qualities,
The present national systenl 81 5anking
owes its chief vices TO tie fact ihat ri1
currency the banks are forces 10 USE. wiki
out their fauh IS far below The stan Sscd OF
gold and silver. lfthese as assoeiatioos shall
be found p-ipetrating these wees. III re-
sisiing efforts made to eleyale gtsess ioses
to par, they will do il At tseis ean peril
and in due time find that tley liavc com
mifted suicide
ne iast section OF the bl1 provides 'te
pena.y o. 'ofIe'tpre on all e o4s! hanks
wa'c" shai' iai 'ocothpiy ehsa fae ANSfe
Il Prosisio''s.
"a oioS'Hs' inr. hio'r'ii stiN
IL WIN DC sad day whel any faes shah
din 'he cfedl' OF our county me Ne
preserve our puoic creoit hosati'sa, thstS
is no one among the naiios q me earta
we need fe tear or envy. 5aousa We "
lured py the prospect OF ishs,ossfy eaU
10 swerve from the standar v gs NAtlan
al honor SO FAR as 10 mal ifsNseefrn3ls
paper without intrinsic valae z pexnaneat
legal tender, or so tar az e esa7soy tae
smart excuse OF the peti ifogge' i9f tas
avoldance OF contract safsfy II a9t
onlya from the understand ug u al pas-
ties except the Government bat iror ihe
understanding OF all who reqAetea for
and spoke in behalf OF TIE Government
that moment we fall TO low e rank q ine