The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1868-12-15

hAtssta-t+ Ns tt-t AtistS ttiAAt.A#ts htA COUNTY,
bod just emerged from the war of tho
Revolution, and was suffering from tho
effects q a redundant and worthless
! paper currency. Tbs sages II that I,o,
rod were anxious to protect their pos
terity from the evils which they them
selves had experienced Hence. in pro.
yiding circulating medium they con.
ierred upon Congress the power 20 coin
money and regulate tho value thereof,
at the same prohibiting the states from
making anything but gold and silver a
tender ia payment Of debts The anon
alous condition Of onr currency is in
striking contrast with that which was
originally designed Our circulation
now embraces First, notes of the ma
tional banks, which are made rocciva-
ble tor all due to the government, ex-
GLIDING imports, and by all It's creditors
in payment 81 interest upon its bonds
and the securities themselyos. Second.
legal tender notes issued by the United
States, and which the law requires shall
be received as wen in payment Of all
debts between citizens as of all govern
ment dues except imports And: Third.
gold and silver coin. BY tho operation
OF our present system Of finance, how
ever, the metallic currency when collect
ed is reserved only for one class Of gov
ernment creditors, who, holding its
bonds, somi-annually receive their in
terest in coin from the national treasu-
rY. There is no reason which will be
accepted as satisfactory by the people
why those who defend us on the land
and protect us on the sea, the pension
er upon the gratitude of the nation
bearing the scars and wounds received
while in its service, the public servants
in the various departments OF the gov.
ernment, the farmer who supplies the
soldiers Of the army and the sailors of
the navy, the artisan vino tolls in the
nations workshops, or the mechanics
and laborers who construct It's edifcos
and build its forts and vessels OF war,
should, in payment OF their Just and
hard earned dues, receive deprecated
paper, while another class of their coun-
trymen, no more deserving, are paid in
coin Of gold and silver Equal and ex-
act justice requires that all the credit
ors of the government should be paid
in currency possessing a uniform val
ue This can only be accomplished by
the restoration Of the currency to the
standard established by the constitu-
tion, and by this means we would re-
move a discrimination which may if it
has not already done 50, create a pred
judice that may become deOp-rooted
and widespread aud imperil the nation
al credit
The feasibility Of making our curren-
cy correspond with the constitutional
standard may be seen by reference to
facts derived from our commercial sta
tistics. The aggregate product Of prec-
ious metals in the United States, from
1871 to 1867, amounted to $1,174, ,Oo0,-
600, while for the same period the net
exports Of specie were $741, 600, 1000
This shows an excess Of product over
net exports Of $ll3,0O0,00 There are
in the treasury $l03, ,407. .985 in coin in
circulation; III the States on the Pacific
coast about S40,0O0,000 and few mil
lions in the national and other banks;
in all less than $lGO,O00,00O. Taking
into consideration the specie in the
country prior to l849, and that produc-
ed since 1867, we have moro than $500,
100000 not accounted for by exporta-
ton or by the returns Of the treasury,
and therefore most probably remaining
in the country. These are important
facts, and show how completely the in
ferior currency viii supersede the bet
ter, forcing it from circulation among
the MASSES and causing it TO be export
cd as d mere article Of trade to add 10
the money capital Of foreign lands
They show the necessity Of retiring our
paper money that the return Of gold
and silver TO the avenues Of trade may
be invited, and demand created which
viii cause the retention at home of least
SO much Of our rich and inexhaustable
gold bearing fields as may be sufficient
for purposes Of circulation. II il un-
reasonable TO expoot return to sound
currency soiong as the government aud
banks, by continuing to issue irredeem-
able notes, till the channels Of eircula-
ton with deprecated paper Notwth-
standing a coinage by our miuts since
lSi9 Of eight hundred and seventy -four
Of dollars. the people are now
strangers to the currency which was
designed for their use and benefit, aud
specimens Of the precious metals bear
Tag the national device are seldom seen, /
eXcept when nroduced n, gratifv the in