The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-01-04

/ lS49, oi 81 ia ,O00, 900. The amount
of specie coined from 1840 to 1857, inclu.
sive, was s439, 100000 from 1850 to
1860, inclusive, 1926, 600, and from
1861 to 1867, inclusive, $4,000, 900,
making the total coinage, since 1849,
1874, 900, 600. From 1S49, to 1857, in
elusive, the net exports of specie amount.
cd to 1921 600, 900; from 1850 to 1860,
inclusive, to S14S,000,000, and from
1861 to 1867, inclusive, to 1922 900, 600
making the grand total aggregate Of
net exports since 1849, s747 ,0O0,0 900
These figures show an excess of product
over net exports of s433, 900, 900. There
are in the treasury Sill, 100000 in coin.
something more than s40,000,000 in cir.
culation on the Pacific coast, and few
millions in the National and other banks !;
in allabout $3.50 100000 This, however,
taking into account the specie in the
country prior to 1S49, leaves more than
$500, 600, 900 which have not been accoun.
ted for by expectation, aud therefore may
yet remain in the country.
These arc important facts. and show
how completely inferior currency will su.
percedc the better, forcing it from circu.
lation among the masses, and causing it
to be exported as a mere article of trade
to add to the money capital Of foreign
lands. They show the necessity Of re.
tiring our paper money, that the return
Eof gold and silver 10 the avenues Of trade
may be invited, and a demand created
Il. 81. 4
Of at least so much of the productions Of
our rich and inexhaustible gold.bearing
fields as may be sufficient for the purposes
+ of circulation. II il unreasonable to ex-
pect a return to a sound currency so long
as the Government, by continuing TO is.
sue irredeemabe notes, fills the channels
of circulation with deprecated paper
Notwithstanding a coinage by our mints
since lS49 Of 1914 600, 900, the people
are now strangers to the currency which
was designed for their use aud benefit, and
specimens Of precious metals bearing the
national device arc seldom seen except
when produced to crafty the interest
excited By their novelty. If deprecated
paper is TO be continued as the permanent
currency of the country and all our coin
is to become mere article Of traffic
and speculation, to the enhancement In
price Of nll that il indispensable to the
to the comfort Of the people, il wolld
be wise economy to abolish our Mints,
/ thus saving the nation the care and ex.
pcusc incident TO such establishments,
and let all our precious metals be export
ed as bullion. The time has come. how
ever, when the Government and Nation
n Banks should be required to take the
most efficient steps and make, all necessary
arrangements for a resumption OF specie
payment at the earliest practicable pc.
rioG. Specie payments having been once
resumed by the Government aud banks,
all notes or bills issued by either, of a
less denomination than twenty dollars,
should by law bo excluded from circula'
ton, so that the people may have the
benefit and convenience Of u gold and
silver currency, which, in all their bust.
ness transactions, will be uniform in
value, at home and abroad Every man
or property or industry, every man who
desires to preserve what he honestly
possesses or to obtain what he honestly can
earn, has a direct interest in maintain.
ing a safe circulating medium-such a
medium as shall be real and substantial
mot liable to .vibrate with opinion
not subject to be blown up or blown
down by tho breath of speculation, but
to be made secure. 4 disordered cur
rcncy is one of the greatest political evils
1t undermines the virtues necessary for
the support of the social system, and en-.
courages propensities destructive of its
happiness. 1t wars against industry
frugality and economy, and it fosters
the evil spirits of extravaganza and specU.
lation. 1t has been asserted by one oi
our profound and most gifted statesmen
that of all contrivances for cheating the
laboring classes of mankind, none has
been more effectual than that which dc.
ludes them with paper mouey. This is
:, the most effectual of inventions to fer.
tilize the rich mans field by the sweat
of the poor mans brow. Ordinary tyr.
amy, oppression, excessive taxation, these
bear lightly on the happiness of the mass
Of the community compared with fraud
ulent currency and robberies committed
by deprecated paper. Our own history
has recorded for our instruction enough
and more than enough of the demoralzing
tendency, injustice, and intolerablc op.
preston on the virtuous and we'll dispos
ed, of degraded paper currency, author.
lied by law or IN any way countenanced
by Government 1t Is the most success.
ful device in times of peace or war, expan.
sion or revolution to accomplish the
transfer of all the precious metals from
the great mass at the people into the
hands of the few, where they are hoard.
ed in secret places, or deposited in strong
boxes under bolts and bars, while the peo.
pie arc left to endure all the inconve-
nience, sacrifice and Generalization re-
sulting from the use of deprecated and
worthless paper money. The condition
of our finances and the operations of our
revenue system are set forth and fully ex-
planned in the able and instructive report
of the Secretary of the Treasury. On
the 30th of June, 1866, the public debt
amounted to $2,783,425, ,879. On the
Both of June last it was 1852, 199, ,2l5,
showing a reduction during the fiscal
year of $9I ,226664 During the fiscal
year ending June 30, 1867, the receipts
were S490, ,684, ,010, and the expendit-
ure $346, ,729, ,I29, leaving an available
surplus of $l43, 1904, $50. 1t is estimated
that the receipts for the fiscal year end
ing June 80, 1868, will be $417, ,161 1928,
and that the expenditures will reach the