The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1869-01-05

l.,
in the country at that time TO be 1885,
100000, which l have no doubt was
much short of the actual amount.
The Comptroller of the Currency Mr..
Hu.5urd) in his report las. year,
our mines from, the 5osh of June,
$780, the 30th of June, 1857, at Gall 100000
ing The same period were e -. 7s,s1s,5s7
The products of the mines during the
year ending June 80, 1868, are esti-
mated at.. io,v"o'VoV
Making in the aggregate. $40, ,23s, ,ss7
To which may be added the gold circu-
lation in California and other gold
above Observation-Disclosures att. 100000
Making in all all..................$ss $500, ,25s.5ss
Deducting the amount of gold exported
during the same period. 471,f4o,9oo
Leaves balance of..... .s1l2, 81, ,s7s
There is also another large import of gold
into the country from Europe of which
there is no official record the amount
of which can only be guessed at. l
mean that which is brought III small
sums by emgrants, who come to our
country at the rate of half million
year. have heard various coujectures
to the amount thus brought to the
country, and none have put it lower
than $4,000, 600 per annum for the last
eight years, making the sum of... l6o,ooo,ooo
Which added to the above, makes total
OF. Pof Il oiA,ofo
But to make an allowance for mistakes
and exaggerations, I estimate the gold
and silver coin in the country at S4OO,-
100000.
The currency is not redundant, as l
have before undertaken to show; and
contraction should not come this
side of redemption, and only by the act
of retention. The greenback notes
| redeemed may be cancelled, and the
coin paid out for them will take their
place in the circulation, and the currency
will become mixed, but the volume of
it will not be diminished. Bringing the
greenback notes to par will, in chemi-
cal language, s'set free" all the gold and
silver in the land, and pour them into
the volume of the currency, thus lnhat-
ing it, but the imitation will be legiti-
mate. Then national banking may be
made free, limited and restrained by the
requirement Of redeeming their notes in
coin Then there will be one currency
for ali the people, and one mans income
will be equal to another's of like
amount. Then our bombs, having kept
pace with the appreciation of the cur
rency, will be at par, and their d sas-
trous flow to Europe will be checked.
Then the Government can sell four
per cent bond in the market at par, and
with she proceeds pay off the present
bonds, if the holders refuse to exch ange
them, and thus reduce the aggregate in
terest on debt more than 34O, ,0O0,0 900,
per annum. Then the business of the
country will be upon solid foundations
and its prosperity enduring. At the
end of five years reconstruction will in
all probability, have taken place; the
blessings of peace will prevail through
out the land; the prosperity Of the
South in great part restored, and cot
ton though never more called king will
play it's former part in our foreign ex-
changes.
After the ocean has been swept by
angry tempests, that have egulphed
gallant fleets and strewed the shores
with wrecks and the bodies of the dead,
comes calm. The mountain waves
sink to gentle pillows; the fierce gale
lulls to a prosperous breeze: the sun
shines forth in splendor, and the sur
viving mariners with JOY full hearts again
spread their sails, resume their courses,
and speed away to their destined haven.
So with our country when peace, recon-
struction, and resumption have come.
1t has been swept and sent by the
storms of civil war. The land was
strewn with the dead, and everywhere
are visible the vestiges of the conflict.
But peace has come, and with it recon
struction. The bright sun of prosperity
shines forth in q cloudless sky. Indus
try, trade, and commerce again flow IN
their accustomed channel with acceler-
ated currents. The tide of emigration
rising higher and higher, sweeps across
from the Old World. The wilderness
of the West yields up its golden treas
ures and blossoms as the rose, and our
country moves on gloriously to its great
and final destiny.