The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-02-27
216,O0O,OOO
sI41.OOO,OOO

S441, ,000, GOO
If, therefore, we have favorable sc son we
will have, when we add the other articles ot
export, tobacco naval st@rcs. pc.roleum, &c.,
"L Ipnsi $500 coo 600 in vauc OF ox.,orts on tho
credit side ot the account, as tha aggregate
money value of our pro oluctions Tor The years
1870 aud 1871.
A no less Important clement however,, is tho
accre ate amount of our imports. Tn BAL
ance of commercial debt has be IN agaiuet US,
because in 1865 and 1856 VIC imported i'll value
more than we TX iurtcd. The cneapne5s VI
money stimulated tic consumption OF foreign
fabrics our imports were sIoatiy abovc our
ability to pay, aGd We were competed to send
our gold and our bonds to redress tho balance
of trade asaiust us. The contraction or the
curreucy-in other words. rolaciug the vol
urne of orr paper money by paying of por-
tiou Of the floating debt-wlil have the effect
Of lessening the consumption, and conse-
This, CO operatin. with the increased value OF
our exports, will soon bring about AL cqnlll9-
rum between our imports AID exports, ana,
perhaps. produce 4 balance of trade IN our
favor. If Congress would have tho moral
courage to reduce the expenses, and s'muita-
neously leduce the punlic floating debt, we
would be able to resume spcci'. payments on
CT before the first Of January, 1872.
1t is On these expectations We rely; tor 1t
would greatly assist tho object in view II that
body would authorize the Secretary OF the
Treasury to cancel legal tender notes to the
amount of $50, 900 900 annually, as they are
pa d in for taxes which would be It tho rale
only OF about 81 100000 per month. 1t the
revenue from customs, wlhch l. rtcelVaoie III
god, ard which, according to ali reasonable
c,;cua;inn. Will amount, on all average, to
S15O, ,O00O00. is appiic0 vniy III tho proportion
I one third, Y S5000J 0U0, to tio cXtlil-
punishment OF another $50 00U J00 0f 'ho n,a =
Ing deb;, We would have s10O,OUo QUO arp.lcN-
bic 10 that purpose. ibis suri, N tsiroa years,
will reduce tho tloatinS debt from i.' present
amount to $3.50, ,0uu 0UO. or, In other W: rdt, SO
improve ,l,,r pap I currel cy as 20 bring IL TO
~, e1ual value Tia gold. That IL woui't lot
cmt,arrass the Iro ,su.y by leaving :0r1'is
of g,id vi about $50 O0U 600 to pa, :, @ II es 81
on ;le naiional ,ic.pr Instead OF SoJ, ,UJU UJJ Or
Sl00 G0U 900, We feel assured. -.
We SUN up our reaspnln;. on this tuolcet IS
cones ey ss possible US folio Fs: l. Int Oh
paprr currapc, is IcCuIidant to aa :4;cn NV
b Jugs it TO about SIS pr head for tho #hoic
of our population, instead oi SlO per heal@l
NC NAL pro; ;ort on b :foro the war-sai Ill 20 e
9. That until we leiuce lh;s plot eih"rs OF pa
per money, VIC can ncver return pf,IaoneMtJ
to specie payments; for if We sliouid nave u
balance Of trade i'll our favor ann an I'LL. oi
golu, it Will be exported us nnrcflu'so Sc tS III
a better market. according to that iaT u c'r-
rencT BIZ which better currency cannot clf-
cnlate III company with an inferior Circulating
medium.
8 That an indispensable preparatory. step
to this end is to reduce tue hrating debt; III
other words, cancel Or redeem slOO o10 COG pei
ann,I:. Of this deb /; an1 that ioc Tins pur' SO
there shou d ne Y reduction Of public eEnCnul-
ture 10 at least $50, GOO 600 annually, with The
application OF ano her $50 GOO, 600 of Inc geld
Arrpus in the Treasury to tho ptymcnt OF The
floating debt, leaving the funded b. aa the
lesser eyll, to more propilious circunSt. ncas.
J. N. O.