The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1868-12-18


ii is in greatest demand. The Law o.
demand and supply is as unerr'ns s'
tina, which regulates the tides OF the
ocean, and. indeed currency ike
tides. hs. its Gibbs and flows through
out the commercial world. At the
beginning Of the rebellion, the bank
note circulation Of the country
amounted to not much more than
5000 600 900. Now the circulation
Of the National Bank notes and
those known as legal tenders is near
" s709. oeO, oo0, A reduction is
demanded BY the highestPublic con
siderations. The Constitution con-
templates that the circulating me-
dunn &C the country shall be uni
form in equality and value. At the
time of the formation Of that iastru-
meu, the country had just emerged
from the war Of the rebellion, and
was suffering from the effects Of a
redundant and worthless paper cur.
rencv, and the sagcs Of that period
were anxious to protect their poster
i,y from the evils which they them
selves had experienced. Hence, In
providing circulating medium, they
conferred upon Congress the power
to coin money and regulate the value
thereof, and at the same time pro-
hibitiog the States from making any
thing but gold and silver = tender in
the payment Of debts. The anoma-
lous condition Of our currency is in
striking contrast with that which
was originally designed. Our circu.
latiou nov embraces first-Notes
Of the national banks, which are
made receivable s.- oil dues to the
Government, excluding imports, and
BY all its creditors, excepting in pay.
ment Of interest upon its bond. and
the securities themselves. Second
Legal tender notes issued by the
United States, and which the Law re-
aaires shall be received rs well in
PAYMENT of all debts between citizens
as Of all Government dues, excepting
imports. Third-Gold and silver
coin. by tho operation Of our prs-'
ent system Of finance, however, the
metallic currency when collected is
received only for one class Of Gov
ernment creditors, who holding its
bonds. semi annually receive their
in,ere., in coin from the National
Treasury.
There is no reason which will be
accepted as satisfactory by the peo-
ole WHY those who defend US on the
land and protect US on the sea, the
pensioner upon the gratitude OF the
nation, bearing tho scars and wounds
received in its service, the public ser.
wants in the various departments Of
the Government, the farmer who
supplies the soldiers of the army and
the sailors of the navy, the artisan
who tolls in the nation workshop
or the mechanics and iaborers who
build il. cdi6ces and constructs its
forts and vessels of war, should not
receive ia payment, as well as their
countrymen no more deserving, coin
Of gold and silver. Equal and exact
Justice requires that all tho creditors
Of the Goverumen. should be paid in
currency possessing uniform
value. This can only be accom-
plished BY the restoration of the
currency to tho standard established
by the Constitution--not by paying
one class their hard earned dues in =
deprecated paper, while VIC pay an
other class in coin. BY this means
we would remove n discrimination
which may, If it has not already done
so create prejudice that may b.
come deep rooted and widespread
and impsril the national credit
The feasibility Of making our eur
rency correspond with the constitu'
tional standard may be seen by ref
erence TO a few facts derived from
our commercial statistics. The az
gregsts production Of tho precious
metals in the United States from
1912 to 1867 amounted TO u, ls4,
900, 900, while for the same periot
the not exports Of specie were Sal,
100000. Ths receipts Of the gener
al land okee for the same perios
were 1859, 7i5, being greater b.
s2S4, 1888 than the amount rcalises
from the aame source during the pre-
vious Year,. The entries under th'
homestead Law cover 2,32s 1923 acros
nearly one fourth Of which WAS takel
under the act Of june 2lst, 1866
which applies only to the States o
Alabama, Mississippi, Louisiana, Ar
kansas and Rlorida. On the Both o
Juno, 1868, 16s,6A3 names wer'
borne on the pension rolls, aud du
ring the year ending on that day
the total amount paid for pension
including the expense Of disbursc
meut, wss s2A,0iO,9s2 being Is,
3sl OPS greater than that expended
for liks.purposes during the previuo
year. Tho year ending the both o
September last, the expense Of th
Patent OfEcc exceeded the receipt
by si7l, and including Reissues an,
designs, l4,153 patents were issued
Treaties with various Indian tribe
have been concluded and will be sub
mitted 10 the Senate for it's cons::ta
tional nction. The stipulations pro
vide for reserving land for the vari
Gus tribes, BY which they may be en-
cour,ged 10 abandon their nomadi
habits and engage in agricultural an
industrial pursuits. This policy, in
augurated many Year, vince, has me
with signal success, wherever il ha
been pursued in good faith aud will
becoming liberaiity BY the U. Slater
The necessity Of extending it - far
practicable in our relations with tn
aboriginal tribes, is greater thu
at sny preceding period. Whil
We furnish subsistence and instrue
ton to the Indians aud guarants
the sndisturbed enjoyment Of thoi