Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-12-10

accounted Tor by expectation or by the r,turna
oil inc treasury, and therefore most probably
remaining in the country. These are impof.
tant incts, and show how completely the inf.
rior currency will supercede the better. forcing
1t from circulation among the masses. and
causing IL 10 be exported as a mere article of
trade and 10 add 10 the money capital of for-
eign lands They show the necessity of retir.
ing our paper money, that the return of gold
anu SILVER 10 the avenues OF trade may be in
vited and a demand created which will cause
the retention at home Of Mt least az much Of
the productions Of our rich and inexhanstihls
gold-Dearing fields as may be sufficient for pur-
poses OF circulation. II Is unreasonable 10 ex.
pect return 10 sound currency so long az
the Government and hanks, by continuing TO
issue redeemable notes, fill the channels of cir
culation with deprecated paper
notwithstanding the coinage by our mints
since 1919 Of 1914 900 600, the people are now
strangers 10 the currency which was designed
Tor their use and benefit, and specimens OF the
precious metals bearing the national device
are seldom seen except when produced TO grat.
iiy the interest excited by their novelty II
deprecated paper is to be continued az the
permanent currency of the country, and ali
our coin IS TO become mere article of traffic
and speculation to the enhancement in price
OF all that is indispensable to the comfort of
the people, 1t would be wise economy 10 abol-
ish our minis, thus saving the nation tho care
and expense incident b. such establishments
and let all our precious metals be exported in
bullion The time has come, however, when
the Government and national banks should be
required to take the most efficient steps and
make all necessary arrangements for resump-
tion of specie payments Let specie payments
once be earnestly inaugurated by the Govern
nent and banks, and the value Of the paper
circulation would directly approximate a spe-
Gle standard. Specie payments having been
resumed BY the Government and banks. all
notes or bills Of paper issued BY either, of a
less denomination than SEQ, should by law,
be excluded from circulation, 50 that the peo-
pie may have the benefit and convenience Of a
gold and silver currency, which, in all their
business transactions, will he uniform in value
at home and abroad Every man Of proDerty
or industry, every man who desires 10 preserve
what he honestly possesses, or 10 obtain what
he can honestly earn, has direct interest in
entertaining safe circulating medium, such
medium as shall be real and substantial. not
liable to ybrate with opinions, not subject to
be blown up or blown down by the breath of
speculation but b be made stable and secure.
A disordered currency is one OF the great
est political evils. II undermines the virtues
necessary for the support of the social sys-
TEN and encourages propeusities destructive
Of its happiness it wars against industry,
| frugality and economy, and it fosters the
evil spirit Of extravaganza and speculation.
II has been asserted by one Of our profound
and most giftod statesmen that, 4" on all the
contriyances for cheating the laboring classes
OF mankind none has been more efectual
than that which dsnudes them with paper
money!
This is the most effectual Of inventions TO
fertilise the rich mans helds by the sweat of
the poor mans brow Ordinary tyranny,
expressions, excessive taxation, these bear
lightly on the happiness Of the mass Of the
community compared with fraudulent cur
rency aud the robbcries committed BY de-
proclated paper Our own history has
recorded for our instruction enough and
more than enough Of the demoralixing ten
deney, the injustice and the intolsrable OBJ
precision on the vrtuous and the well
disposed, Of degraded paper currency
authorized by law or in any way counte-
nanced by government.
II is one Of the most successful devices in
times Of peace or war. Of expansions or re-
vulsions, to accomplish the transfer Of all
the precious metals from the great mass of
the people into the hands Of few, where
they are boarded in secret places or deposited
under bolts and bars, while the people are
left to endure all the inconvenience, sacrifice
and decentralization resulting from the use
Of deprecated and worthless paper.
The Secretary Of the Interior in his report
gives valuable information in reference IT,
the interests confded TO tho supervision of
his department, aud reviews the operations
Of the Land 0hic', Pepsion Office and the
Indian Bureau.
During the fiscal year ending June 80,
1868, $685., 700 acres Of public Land were
disposed Of The entire cash receipts OF tho
General Land Office for the same period
were 3 ,632T45, being greater by S2S4.-
$50 than tho amount realized from the
same source during the previous year.
The entries under the Homestead law
cover 9, 1923 ,623 acres, nearly one-fourth Of
which was taken under the act Of June q,
1866, which applies only to tho States Of
Alabama, Mississippi, Louisiana. Arkansas
an6 Florida.
On the 30th of Juno, 1868. l69 ,64S
names were borne on the pension rolls, aud
during the year ending on that day, the
total amount paid for pensions, including
the expenses OF disbursement. was S2i ,0l0,-
982, being S5,S9i OPS greater than that
expended for like purposes during the pre-
celing year.
Duriog the year ending tho 30th Of Sep
tember last. the expenses Of the Patent
Office exceeded the receipts by tl7l, and
including reissues and designs, IA, 1853 pa
tents were issued.
Treaties with various Indian tribes have
been concluded and will be submitted 70 tho
Senate for constitutional action. l cor
daily sanction the stipulations which pro-
vide for rcserving land for tho various tribes
where they may be encouraged to abandon
their nomadic habits and engage in agri-
cultural and industrial pursuits. This
policy, inaugurated many ycars since, has
.-;.k .;.,ra an ocess han IL hal hean
pursued with good faith and with becoming
iibcralitv BY the United States. The me-
cessity for extending it as far as practicable
in our relations with the Aboriginal popula-
ton is greater now than at any preceding
period. hist we furnish Subsistence and
instruction TO the Indians and guarantee tho
undisturbed enjoyment Of their treaty rights,
We should habitually insist upon the faithful
ohaerxanea Of their agreament 70 remain