, 1869-01-06

than me tolal snount 81 United states notes now
outstanding. A. prssent the Treasury has no !
TUE hut TWO methods present themselves flr iA |
attstI neut. y7z.. either 70 hoard and accumulate
gold ont Of the NATIONAL surplus 1eveuue, or to
reduce the volume Of the currency, either by di.
rect pa5menl Or hy funding Witch L. IN one sense
aiso pay tnert. to point where the ablty Of the
~ b. 20 s2 as sna
ent upon many contingencies; the second can be |
edected d norr rsptdly-pc1haps as rapidly as may
%ees on1 ol ae un
ttoncr bas rightly stated It's conditions much of
the diHeuseisn which Is continually taklu9 place
Sc Of it people tor is contnusnee Is oi I COM.
paIauveiy Iittle n mcus. -
~ beaf1cg upon the proposition to accumulate
i is important 70 consider the enact position oi
the United states IN reapecta 10 furci91 CONNER
i; Thus il appesrs from tic statts,,es OF com.
metce and nnyigssion, that the Imports and e1.
pos;s OF n:e'chAId Id!se-c1ports reduced to gold
a. spceie-ior the aseai yeaf ISIS, wess % a. iol-
Net imports Of merchandise. .s,.T,sta sos
Net exports oi nefchanotse....:..... ,oI
Apparent balance against the United
70 setie tnis treasury balance, ana iof oses
ss ns ase;l Z. ss.E - 1ssses s., specie and bullion e
amcun: Of s1to 900, Io0; and that this aadilloaai
amoq ~ syefea tsis 70 Of
Import. Would ndeais, is evidcpced B y fae r.es
a tlas eaceangs dining .ns whole pe!1od IN CUES
Un,'eu stsAs. This indebtedness was undonnt-
edly ereated through the following agencies:
ri.d " iorc,en vesseis; SECOND, expenses Of
Americans travelling IN foyt,gu countries; third,
1nt.1e,t on On puhlte and p:tvsse sccn1tt:es held
Wl1h aaralu Of gold out Of the couEtry IRON 1e.
g1tItn tie causes therefore In exre.s Of 1he an
at work which tend to increase rathes tnan d.
mlL.sn s1ch movement for the fut11c, the ptac-
t,sahllty r accumnlaang wltntn any Bic
to insure the couttnuatce OF resumption. without
at the came t1me uruducipx great disturbances In
buet1 eet a. peafs to the commissioner to DC al
TO- eth.r proolt mattcai
t Apait, a. bearing upon the proposition OF con-
trsclon as nelhoa of nrraylLe az resumption.
the Conn. sss!o !ouef belle yes thSt no man can loo
7 os4k tu the enod when moderate contraction
was authorized BY Congress. ana put his dtgcr
on Ole stIEle oaa result assumed 10 hare flowed
from such Contraction, which was not one, IN tue
Diet instance, 10 " hoil5 Imaginative Influence
| sLe, fut;hrtmote,. the tvmm.stlurc asseEta
Ss aa q
| ~ittuut feeling eonvtn.rd that thote wn., during
s1eh time, ie from March. 1856, iJknuAry, 1858,
| 'enuthcy 10 u grsuual ana healthy sh1ipka,: oi
saiuts shd prices; ana that me ehriuksRe IN
| prltta Which actua " dId occur VIA e1ulyllcut,
n n1.s.1s ~ the tpasehans q
to dim'r n'iou ol tne power VI the currency to
ertet exchanges. Ihtr increase was estimated
<.N,A0.uO
abe =, nml.siolcl sees no economical ohjec
| t1on 10 al increa-e OF the National sank cifcuia.
u equal 70 Lhe o1o4eu decrease Of the United
etates lotes. Il -asmuch as ths banks are required
y IT, ~ o .ass
| intreasc u Eatiolal bark notes would be tmue
| dlattl1 aVaitn OF in tic cyent o! monetary sum
| eeLcy, bat not utherwite. II 10 assume inat tnt
aggregate pap<r circulation Is not 10 be increased
ntN. sprc,e payments trc iailI restored, tue
comtntsefonts csnnet conceive ofany Deter mode
@ giving dcxsbility 10 the currency than this
| i IL alleged that an undue propoftt n OF tnc e1
trtng CIRCULATE % Issued uancf the National Dank
"c.t II d south afe enutleu. by vir1ue OF the,l
p"pu ltioI. 10 Ert atof tttlo Than they uoH have
II ibis Be unc, ~ tse ccnamissioutE helscvse, the
| sdctt,ern T.! amount here coLtempta.ed might prop
csfy ass1Rnt to those states where the x1iegct
i iIrQueluy - eonp.alLed Of. thua Restoring tht
squiiis run Contemplated oy law without laklns
thcJ LOW erjo5.
AtfurD1Ao or TIE NATIONAL DEBT At LowE1
\ BATE CT INTEREST,"
The national hcncs md fhs leFaktcndcr note
pelIE ohce truuXht tU par with gold, acd th
reianeirg Of, ,hc cebt Al lower rate Of snteres
ls ~ sps afs s is1 s.t
caus. pt,neipls should be kept CLEARLY IN vic,
which nerciofo1e h.s not always bsen done ia ID
vhicI Eoeerrntnt. a. borrow j. In M icatcd i nc
b! tie NJ na,n. Estes Of interest which they na
ones, hut BY The pticc OF taelr stocks. They ms
Wi CT. h1 once fof III IN is.ntng loan lie II
ttrc.t Of which they wtl have to pay. bnt the IL
t,'et. ~aen nc indy dual Ind holder VIII 4
pr.ce at wrict he b1ys hts e'oek." Whoever, .
th!e uocnt nt, hu3t In Europe our bones, nom
eoi psacne,!ly sxp.esses tie iacs H.; the es ~,
Al which II su1ts him 10 tend money 70 the Cnlte
.iates is eight p;r cent gold per nnum; IN
States or any o,her Eoyelnme1t can hclp ,src
WHO advantape IN this matter, except 10 60 Il
elevate III credit as 70 render the nu.chaec Of ii
stcurl'lcs al tlxher figure deatr4olc, CT. Whist
. The eane thing. Induce 4 loan to Itself from 1h
ptts lst at lover rate Of Interest. so, lonl
therefore. as thu government credit Ii dspssetatet
. any advantage to be ccr,vct from the iseuc
hones hs annR soxez rate Of interest, Will I
i, lnllf compensated by the reduction In nrit
market; =. in sshel Words. he only M m mcsne sne
: aEstiaole alike to nations ann tnc1viduals for II
Atta', meIt Of low rate ost1tcrest IA TO offer pc
. tsci teeaElty. Furthermore, with the elevation
ne aaoLl sec II ties TO pas,the tssus OF NaaoE
~ bank currency, based upon bonds, will
or 5S;s nss1y rs 20 to n. ,.:ns Of
: tiort either IN specie or teaenr5 notes. teg.
: 'e1aen reaeeuaole in specie., which eoald
safely remove Ill restrictions from nee barkiE
and al!cR The demand for currency to rrguIs
| lis HSae.
- coN1R4cts on COLI BASIS
One Of the most wholetonc measures. In t
Ic 1udcmsEt Of the Conmis.lone1, !os smooth
f. INC wy 10 sret te resumption, would be an
oi Tie bss 6 6.a q tne eoant1y nsa Il
NJ sHt posed is now trAnsActed IN gold. the o
~ lies relying upon the rule. OF eomucTeial
Il 1ectt7 io1 the tutnllDent Il cantrscte when
law aa1'a 10 provide for tbetr cniorccu ant rht
N tEanta"l"ns re!ste principally To foseln goo,
,e TIE cost Of which u elvayr compated ID co
| IndCf e1lsflNE LAVE &c citizen III
=; aIytoEtFast fox sht deposition Of his psope
1sa paa9s y sa IL 7ashss "a tie
n. star Dr. r.ad5 to er1osee II When he barSs
L. ,os god or rs equtvslen, he becomes p1seucs
.1asT ,,pe 1se ol sa's po:y
500 sreI eein znG suiitos L a. a. S1a .more
sEo aIll .eiute 70 s.ss wpsp tbess i III ~
.. II II Is ele for 10 eIps 10 srta.n The prod
nas ns ofonr owl uiEes ne refrsc to S,ve It as q
rs The qresnon whether Tho int.o 1ue,1on Of
b t.ano atas possessing unequal "a Nc. inio &C
se. cred o> the isct mat no nAru haa come fe
e. The eml3oyEerE Of gold a. the s!andatd n re-
10 the i1uoducIicn OF 4. better ca1tc1cT l
SSSi. sasS ,, 1hs erfss 70 Sf.ssiars
or mistt be % advance the pnce Of soio By crest
RI. | 1sucden densrd without AddlrX to the tu1t
ou1 L 10, Ss aosa
mi ssered BY unlocI1nR boarded gold. by cheek
n: the e1poTsuon Of button, ana by calling Ia
IS. Is5Rs suppl, As might be needed for 'esssts1
H. tfas been os]eceed that An act l.Qal,zing z
e. e ca u ssef 1osas
he ths@ on 3oia s5sts n, p5assisay ,asssa:
n.l that this pp]ecr1on is f4llactou1. The fcndc
- none! VIII al~ayb eharee the no.rowE lgt
10 20 l loan Is pssatle. saea rlsk nMi aIEsy: De q
e in a. u1sdeenaole p9per ,.s eu!Es
,ss T. u.nl ~ i,ws o. NAY asga1ass. bai
~ ese1rqn ,nis p1lneiple, winch 4 as well e.
~ luhed A. any fact N economical sslenee
tss .nd suppl9 e Ieaaa y Is espt md IL
10 tltular upon The natuse Of tho security ode
si e s e .apsg g9tf
,oss II, butlt WI, furnish higher secur.s1 ior lo
lite Payment cannot nt deusndcd apon outstant
.ses Nhen 1h,1 iaji dne The payers viii tettle
M TIE pA,ees ACCORDING to tnoee principles. AT
= 1ss fssasi 81 fessaa at TIC security
1ts | better.
.Rs You'd 1eGs K sos. ro9sot
,on. ought not to deny to II cirzcns IN tine OF ?,
''u' he right 10 put eli husiuets upon suhsta
6s u 4 Il spin. anoas ,oa i Is 81 s nj
re inpollt,e 70 compel them To resort to gan
gold rskaso AEo ecaESe ~ ~ T.n !. reoH,rsd n
ma mo A1s calc1fuun. the prooaole auciuaro
lsnd tue eal!eRe5. a1o tosse w uepsEusus ps asu1
able cum etahfee 70 none!pI. aA0 Col1PAta1eu .Is !
and potGme Andft & oonIse1cLeG an .okssI4 )
d1n.-l NC HANE 1rLEnhJ NAutesoA AAr.0A A0asppJ !. Y
Tba nen loektng up 0! large amount OF lcz.1re
the neN A he nnAIc n eeo!fs u tne counttJ.
nc which Neferp trtIre \; pAnsr-1nd tearsa an !
e,al declme In The prices Of property. y