Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-12-04

\
rived from our commercial statistics.
Inc prouuction OF precious metals IN til
Onited states, from iS4S TO 1851. lnciusiv
ahounsed 10 SoIS'uoU,ouu; from icoo 10 100
inciusive' 10 Si3I,5Oo,do0, and from 1851
10 1901, Inclusive, TO $l0I,oou,OUO-makin
grand aggregate OF products, since ISL
OF Sl,lI4,ouU OOu.
The amount OF specie coined from lo49 I
1851 inclusive, was 39,0O0, 600 from iSo
to 1851, inclusive, Sl25,00OO 900, anu froi
1861 to 1857, Inclusive, SslOOOO,000, maxim
total coinage, since ls49, of Ss14 1000.
From lsl9 to 1857, inclusive, the net es
ports of specie amounted tn Il,000,0 600
from 1853 to 1860, inclusive, to $l4S. ,0Ot
and from 1o6l to 1867, inclusive, to S322 : 900
O0c, making the aggregate of net export.
since lS49, S14l,00O,OOO. These figures slo,
an excess OF product over net exports O
Si33O00,0OO.
There are in the Treasury ST. ,00O, 600 il
coin, something more than $40 900 COO in cir
cnatlon ON the Pacific coast, and few mil
lions III National and other banks; in all
abont si6o o,00o'OOo. This, however, takin.
into account the specie in the country prio
to lS49, leaves more than $3C0, 900 whicl
nave not been accounted for by expOrtation
and therefore may yet remain in the coun
try
These are important facts, and show how
completely an inf rior currency will super
sede better, forcing it from circulation
among the masses, and causing it to be ex.
ported as mere article of trade, to add to
the money capital OF foreign lands. They
show the necessity of retiring our paper
money, that return of gold and silver to
the avenues of trade may be invited, and a
demand created which will cause the re-
tention at home of at least SO much of the
production OF our rich and ineXhaus-
Iinie gold-bearlng fields as may be sufficient
Tor the purposes of circulation. 1t is un-
reasonable to expect return to a sound cur
rehcy SO long as the government, by con
tlnuing TO issue 1rredeemaoie notes, nlls the
channels OF circulation with deprecated
paper.
Notwithstanding the coinage by our mints,
since lo49' OF Sod4,ooo'ooo, the people are
now s'rahSers 20 the currency which was
designed TOT thelr use ana neneht. SpecI-
mems OF the precious metals, bearing the ma
tiOnal device, are seldom seen except when
produced to crafty interest OF excite by
their novelty.
If deprecated paper is to be continued as
the permanent currency of the country
and all our coin is to become a mere
article of traffic and speculation to
the enhancement in price of all that is
indispensable to the comfort of the peo-
pie, it would be wise economy to abolish
our mints, thus saving the nation the care
aud expense incident to such establishments |
and let all our precious metals be exported |
in bullion. The time has come, however, |
when the Government and the National |
Banks should be required to take the most
efficient steps, and make all necessary ar |
rangemcnts for a resumption of specie nav
ments at the earliest practical period
Specie payments having been once resum-
ed by the Governments aud banks all notes
or bills of paper issued by either of a less
denomination than twenty dollars shOuld
by law, be excluded from circulation so
that the people may have the benefit and /
convenience of gold and silver currency
form in value at home and abroad. 9t-f
Every man of property or industry; every
man who desires to preserve what he hon
estly possesses, or to obtain what he can
honestly earn, has direct interest in main.
tanning a safe circulating medium-slch a
medium as shall be real and substantia not
liable to vibrate with opinions; not subject
to be blown up or blown down by the breath
OF speculation, but to be made stable and
secure.
disordered currency is one of the great
est political evils. 1t undermines the vir-
tues necessary for the support of the social
system, and encourages propensities destruc-
tive OF its happiness; it wars against indus
try, frugality and economy, and it fosters
the evil spirits of extravaganza and specula-
tion.
1t has been asserted by one of our pro
found and most gifted statesmen. that of all
cOntrivances for cheating the labOiiug class
|
than that which deludes them with
paper money. This is the most etfectual of
inventions to fertllize the rich mans fields
with the sweat OF the poor mans brow. Or
dinary tyranny, oppression, excessive taxa i
~f H. oe.r e upon tne happiness
,,;th f..,d,Ia,,t +. tno uo.un.sy' compared
.' a anu the rooeries
n,,n ',,,, Iy is. tepreciaoea aca paper.
+inn ar"n,rh a~5 9nu, Us ~. our inserue-
Ja,,or,I;xir,, tandann ;nn ;.,;,.;n VI the
auaI.I'. I,.,,.,;s'.'.s nJsooo' anu III Coi,
t1;,'ao,'1 e o VIZ Va, ouous anu wen
~, iv ,", -. papo. currency au
NV ~ iaM' u ~ any way couiitenanced
80 ~ Sf,t da,,;ons ';.,ai o oi Sne osC sue
s;ons or rarol,,+;"ns + 81 ~. ca APan- I
S 10 " aoooniPisn OF trahs- c
i1i Iuo Piooious Iie.,iS iIoni lle great mass t
~ ehe p1op'e in.e 'ne nailus oI lew where
!ney arg noarueu ' III secret places OF depos-
lIeu .s'!, ~ sSronS Jokes 9naeI Doits anu bars,
.e "ni.o 'nG poopie are lei1 70 endure ai the 4,
inoons onioh0o' e.,oiinoo anu ueHorailZatlon i
,vorthlass ,,a,,or ,oo,,au - anu
The cnnd;tion of our finances o,d +ho
onor.t;ons Of n,,r ra,,a,,,,a s,sta ~ oe e l.
firth and fnIlv eynla;nnd in tho aI,Ia Ill =;
strnctiva renort IF tbe Sanrataru .f .I.a :
Treasnrv 49, - - W. G
On tbe 2otb of Irno 1856 +ha ,,n,,1;, 1oh. a
.monnrad 70 e, 9sa -, 800. nu tt. ,o.I uops "
Of 1ast lima r. was e. 10, ,oo % 9,s. sne Hosm VI
a rednction dnr;n~ the fiscal yaar of soias
oee ccS ~ ~ JeAA u @oi~'- ]
G,.o A., % ,.- :
A., -.s 80 -. - =. :. 100 CD, u,nS o"o 'o' va r
d;.,,a sssc 700 ,.,o I; sG.o, anu 1ue eH-
P'..I..sc &c 81 40 % ~ ,s,o 90 ho'AnS an a'aitoie
eui Pius VI Vl4o''o4'ooo' ~ 7
1t Is tstimated that the receipts for the ,
fsca, yetr ending June 30, lS6S, will be
S!li l6l,93S, ana that me expenditures ,
VIII reach the sum o! S393.269 226 leaving S
LII the treasury surplus OF $23 S92 702