Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1868-12-19

tcplihH va ufte- Nu--utu anu Ftr
Yer ouin. ky lhe operation of our
pT sent SYSTEM oi finance, however,
tho melallc onFreney when oolls eIed
is reooiVed onl y Tor one class oi
government creditors, who holding
ils bonds, annually reeely their la
lencsl ia 00in irom the National
Treasury, There Is no reason which
viii bo accepted as satisfactory 10
the people why those who defend ns
on lhe land prCleel ns on the sea,
the ponshner upon the gratitude Of
tho nation, bearing ihe scars and
wounds receiyed While ia lis service
the public servants ia the various
departments ol lhe government, lhe
farmer who supplies tie soldiers og
tho army, and tho sailors OF the
navy, lhc artisan Whn tolls IN the
nation ; work shop, or the mechanics
aud lnh0rers who build It's ediiiccS
and construct is forts AMI vessels
of war, should IN payment of their
y just aud hard earned dues receive
deprecated paper while another
class Of their e0nntrymen no more
deserving, arc paid ia coin Of gold
and silver, Equal aud exact justice
requires that all the creditors oftho
government should be paid in a cur.
roncy possessing n uniform value.
This can only be accomplished by
the r s,oration of the currency 10
the standard established 10y the con.
situation, and by this means we
would remove n discrimination,
which may, IL il has not already
done so, create prejudice that may
become less rooted and widespread,
and impcril the nf ftioual credit.
The feasibility of making our cur,
rency correspond with the constilu
tional standard, may be seen by re-
ference to few facts derived from
our commercial statistics. The ag.
gregate product of precious metals
in the United States from 1919 TO
1867, amounted TO Sl,l74,000,0O0
while for the same period the nest
exports of specie were SII,000,C0O.
This shows an excess of product
over next exports of Sl33, 900, ,O00.
There are in the Treasury sl03,4 ,407,-
9s9 ia coin, in circulation in the
States on the Pacific coast about
$40 ,000,0 900 and few millions in
the National and other Banks, in
all less than 100000, 900. Taking
into consideration the specie in the
country prior to lSl9 and that pro-
duced since 1867, and we have more
than $500, 900, ,000 not accounted for
by expectation or by the returns of
the treasury, and therefore most
probably remaining in the country.
These are important facts and show
how completely the inferior cur
rency will supcrccdc the better,
forcing it from circulation among
the masses, and causing it to be cx-
ported as an 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 will
cause the retention home Of at least
so muchao Of the productions of our
rich and ineXhaustiblc gold bearing
fields rs many be sufficient for pur.
poses of circulation. 1t is unreasona-
bic TO cXpecta return to sound
currency so long as the Govern
ment and banks by continuing to
issue irredeemablo notes 1ll the
channel of circulation with depre-
ciated paper. Notwithstanding a
coinage by our ,.mints since 1S49 Of
1914, ,000, 900, the people are now
strangers to the currency which was
designed for their use and benefit,
and specimens of the precious me-
tails bearing the National device are
seldom seen, except when produce
to crafty the interest excited by |
their novelty. If deprecated pa
per is to be continued as the per-
manent currency of the country,
and all our coin,is TO become q mere
article of traffic and speculation, to
the enhancement in price of all that
is indispensable to the comfort of
the people, it would be wise econo
my to abolish our mints, thus saw
ing the nation the care and cxpen-
incident to such establishments, and
let all our precious, Metals be ,eX-
ported in, bullion. The time has
come, however, when the Govern
ment and National banks should be
required to take the most efficient
steps and make all necessary ar
rangemcnts for the resumption. of
specie payments. Let specie pay
ments once be earnestly inauguat-
ed BY the Government and banks,
and the value Of the paper circula-
ton would directly approximate a
specie standard. Specie payment