The Conservative. (M'connelsville, Ohio) 1866-1871, 1867-12-12

may be used To strengthen the arguments Of
those who would bring into disrcpute the obli-
cations of the nation.
In the payment of all its debts, the plighted
faith of the Government should be inviolably
maintained; but while il acts with fidelity to-
ward the bondholder, who loaned his money
that the integrity Of the Union might be pre-
served, IL should at the same time, observeg good
faith with the great masses Of the people, who,
having rescued the Union from the perils Of
rebellion, now bear the burdens of taxation,
that the Government may be able to fulfill It's
engagements.
There is no reason which will be accepted o.
satisfactory by the people, why those who de-
fend us on the land and protect ia on the sea,
pensioners on the gratitude of the nation, bear
ing scars and wounds received while in its
service; public servants in the various depart
ments Of the Governments the farmer, who sup
plies the soldiers of the army and the sailors OF
the navy; the artizap, who tolls in the nation's
workshops; mechanics and laborers, who build
its odifces, and construct its forts and vessels
Of war-.hould, in payment Of their just and
hard q ned dues, receive deprecated paper,
while another class, their couhtrymen, nc more
deserving, are paid in gold and silver.
Equal and exact justice requires that all cred.
itors Of the Government should be paid in a
currency pOssessinga uniform value. This can
only be accomplished by a restoration Of the
currency to the standard established by the
Constitutions; and BY this means we would re-
move a discrimination which may, " II has not
already done 50, create a prejudice that may
become dcep-rOUted, widespread, and impcril
tho national credit.
Tho feasibility Of making our currency cor
respond with the constitutional standard, may
be seen by reference to a few facts derived from
our commercial statistics. The production OF
precious metals in the United States, from ls4Q
To 1857, inclusive, amounted To S5Ig,000 900;
from 1855 TO 1860, inclusive. Sl3i 500, 900; aud
from 1881 to 1867, inclusive, to S457, 500, 900
making n grand aggregate Of products, since
ls4g, Of 81, ia, 900, 900.
The amount Of specie coined from ls49 to
inclusive, was S43o, 900, 900 from 1858 to
inclusive, 1925, 000, 600; and IRON 1861 to
1867, inclusive, $4,000 600, making a total
coinage, since l3l9, Of 1914 200, 600
From ls49 to 1857, inclusive, the net exports
Of specic amounted 10 1921 900, 900; from 1855 to
1860, inclusive, TO Slis, 900, 900; and from 1851
to 1867, inclusive, to 1922 ,0OO, 900; making the
aggregate Of net exports, since 1919, sal 200, 900.
These figures show an excess Of product over
net exports Of $433, 600, OO6.
There arc In the Treasury Sill. 600 600 in coin,
more than sac, 900, OUO in circulation
on the Pacific coast, and a few millions in Ma.
ard other banks; in all about $lGO, 900, 900.
This, however, taking into account the specie
in the country prior to 1919, leaves more than
$500, 0OO, 900, which hav not been accounted
for by expectation, and therefore may yet re-
main in the country.
These are important fucts, and show how
completely an inferior currency will supercede
u better, forcing ii from circulation among the
and causing it TO be exported re a mere
article Of trade, to add to the money capital of
foreign lands. They show the necessity Of re-
firing our paper money, that a return of gold
silver to the avenues of trade may be in
vited, aud a demand crca ed which will cause
the retention At home of at least so much Of
The production Of our rich and nexhuustible
gold bearing fields as may be sufficient for the
purposes Of circulation. II is unreasonable to
d return 10 II SQUAD currency so long ms
Inc Government, by continuing 10 issue ire
leemaIle notes, fills tho channels ofcirculatiUn
with deprecated paper.
Notwithstanding The coiuoge BY our miuts.
since lsle, OF Ss74 900 coo, the people are now
strangers TO the currency which was designed
for their use and benefit. Specimens Of the
metals, bearing the national device,
are seldom seen except when produced to graf
Ify interest or excite by their novelty.
II deprecated paper is to be continued rs the
pcrmanent currency of the country, and all our
cOln Is to become a mere article Of tire iic aud
speculation, 10 the enhancement in price Of all
that is indispensable TO the comfort of the peg
pie, it would be wise economy 70 abolish our
thus saving the nation the care aud ex-
pense incident 20 such establishments, and let
our precious metals be exported in bullion.
The time has come, however when the Govern
nent and the National Banks should be re-
luired to take the mosteiicient steps, and make
necessary arrangements, for a resumption of
ipecie payments ut the earliest praticAl period.
Specie payments having been once resumed
By the Government and banks, all notes or bills
IF paper issued by eitherofa "A less denomination
han twenty dollars, should, by law be exclu-
led from circulation, 30 that the people NAV
have the benefit and convenience of a gold and
silver currency, which, in alltheir transactions,
will be uniform IN value at home and abroad.
Every man or property or industry,
every man who desires to preserve
what he honestly possesses, or to 90.
tain what lie can honestly earn, has Il
direct interest in maintaining a safe
circulating medium--such a medium
as shall be real and substantial; not
20 vlbrate with opinions; not
subject 10 be blown up or blown down
10y the breath Of speculation, but to be
made stable and secure.
a disordered currency is one the
greatest political evils. 1t undermines
the virtues necessary for the support
OF the social systom, and encourages
~propcnsitics destructive OF its happi-
ness; il wars against industry, frugal.
ty and economy, and it fosters the evil
ofeXtrayagance and ~spCcula-
zion. '
II has been asserted by one of our
profound and most gifted statesman.
that OF all co~ntrivancos for cheating
the laborlng classes Of mankind, none
has been more oiIectual than that
which deludcs them with paper mon.
ey' This Is the most cifectuaI Of in
ventions to tcrtalize tho rich mans
fields with the sweat Of the poorman's
brow Ordinary tyranny, oppression.
excessive taXation-theso bear lightly
upon happiness OF tho mass of the
community, compared with a fraudu.
lent currency and the robberies com.
mitted by deprecated paper.
Our own history records for our in.
struction enough. and moro than
enough oftho demOralizlng tende 1cy.
aud %iutolcrable unnrns.ion