Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1868-12-19

vo1ue. 1a0 en- 0oly be oecoopeoood ~
~ resaorikiea of Tho euSreScy 10 tksi
saasdarl esssbksAed By dhe' Co6stitisioa.
O. tlhs fbtudaaiod and By thn neans VI
eosld pdt ~ eaH toa discFiAiss6ss which
nay; \ il hA not slreaay dsie =, ertsae 4
prs1ddi3S tlixt hkS b4codGY desplj footcd
ssd wide-spread aud impair The 1htiosaI
credit. The po.sibility II tAakiag odt cur;
rsscy correspond with he Cou6titutioasf
standard nay b sses y rslIssnpe to Sew
fac(s derived ffoo or ts1inseicial saatis-
ties: The aggrtoptg pjeoGeG q ne pre-
eapus metals IN de Unitef otst4a ffoW'
lS4S TO 1857 amounted y q, III, 900 900,
while for the same period the net exports
Of specie were e7ll, ~ -. This SHOWS
On excess Of products over the exports q
e483, ,OOO, 900. There are in the Treasury
el03, ,4O7, 1856 III coin; the circulation id
the States oIithe Pacific coast Is aboHt 80, =
OOO, ,OO0., and 81, ,00O, 900 atc in the nation
al and other banks; in all less than $780,
OO0,O00. Taking into consideration the
specie in the country prior TO 1849 and
that produced since 1867, We have more
than e2OO, ,OO0, 900 hot accounted for by
expectation or BY the returns Of the Treas
ury, and therefore most probably remain
iug in the country. These ore important
facts, and show how completely the inferi-
or cHrreIcy win supefsede the better, fore
ing at will its circulation among the masses,
and causing it to be exported AZ = therc'
article Of trade to the money capitals Of for
eign lands. They show the necessity Of
retiring our paper money, Chat the return Of
gold and silver to the avenues Of trade may
be invited, aud the demand created which
will cause the retention at home Of sonhuck
Of the products Of our rich and inexausts-
bic gold bearing fields as may be sufficient
for the purposes Of circulation. It is
unreasonable to expect to return 10
sound currency as long IS governments
banks continue to issue 'irredesmable notes;
with the chances of Circulating with de-.
prcciatcd currency Notwithstanding the
coinage Of our mints, since 1849, of $S74,- :,
O00, 900, the people are now strangers to
the currency which was designed for their
usc and benefit, and specimens Of the pre-
cious metal bearing the national device arc
seldom seen except when produced to graf
ify the interest excited by their novelty.
II deprecated paper is to be continued as
the permanent currency Of the country
and all our coin Il 10 become mere article
Of traffic and speculation, 70 the enhance
ment in price Of oil that appsrtains to the
comfort Of the people, il would be wise
economy to abolish our mints, thus saving
the nation the care aud expense incident
to such establishments, and to let ell our
precious metals be exported in bullion
The time has come, however, when the
Government aud national banks should be-
required to take tho most efficient stops,
and make all necessary arrangements for
resumption Of specie payment. Let spe-'
Gle payments once more be earneStly in'aug-'
rated By the Government aud Banks, and
the value Of the paper eireulatiod would
directly approximate specie Standard:
Specie payments having been resuneA BY
the 0oyernmsnt and Banks, III notes or
bills Of paper issued BY either; of 3 lsss
denominatsoa thsn twcaty dollars; sIyUua4
BY law be excluded from cireu1htios, ~
that the people may have tho bsteot9 {
gold and silver Circulating nasdiua h ell
basiness ttanssctio.s, whick viii he uaifbsat
in value a home and sbrod1d. Etery nhn
Of property Of incdssryj svcry Gh6 Who
desires TO preserve xhc honestly possss-
sesses, or TO obtain what he can housstly
earn, has djrsct interest ID nthintlining
- the circulation medium such : mxdium
n shall be real and substaitial, md not
liable 10 cvaporate with opinion, and NOT
liable To bs 6lown upot down By the breath
Of speedlators, but ~ be- made stsbse and
secure. A disotdsesd currency Is o1e OF
tho greatest politicai evils. Il undstninss.
the virtues 1sessssary for tl5 suPPost q
the schial syIstsim sud eSIloo1rgsA 16opShI
sitiss dsstrlbtivt Of it, 1hppinea4j Il 1sFs
axsinva iaddut&y; ffdxiSlily ~ ssoIony
ana fosters sa svil Split q etxtsay1glAcS
and speculstt0a. i Il has beea assorted by
dHH of eur prufoupd aaateusu thst Il u
coItrivanecs for cllslainy tho hbotiIg elas-
ses Of maukind, nehs have been moro -
fSctuslI shan tAst which dsllzss thsx wkhl
uapof mouey. his h the mobt t1Sct1al
df iitSntioSh 70 leftlisS thS riSh naa's
Ssids by shs swsas Of t6s pest ma4s brow.
OrdidASy anly-epprSssieaby e1tEsDS
tcxss;on-sAsss bsar 6atEN upea ~ hip.
uirsss Of he mass a tksccunnuniAy, soa-
rruSa With fb.1dilaat eurreaey Ard IL
robssriss sonnhttsa by depEscisasa pdPst
Our own his>ery haS f1eotd6d ~ osr II.
strxosiod suouEh h-snd noss thai seoset
of ths dsusrsiiiisg tssdsuey II tash3Ss-
dcs ada istosskahN ePpssasiss a. II tis-
tIjous and vsll d6spuss4 y dsgtsdxa -
PIT sursssey, susl.osi..d hs, ~H s:y
= ous q tlis nGdbe ssesGlne6l dsvis6s n
Gpsh Il pns or VA, ~ sxPs.isess1a ~:
vukiaa6. 10 ssesnp1sh ths tiln1or q sl
IL pstsiouh us1a6 ltsa ths oBsat - ef
IL pssylS ii>6 ~ - q { ~, whss
tatsp sss hsssasa i ssssss psss = Aass
~ us1sr bslb ~ bao. ~ ~ psspb
~ ~ " ssdsss q ~ tss,avssi.ess.
ssexiGss ed dSaosl6iiag sss1ltiag asa
~ - = dsprssiaAsd ed dwsssAlss Psess;