Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-01-08

says:
"TLc experiment OF chcA gold
20 far las been successful. u has
been offered 10 the foreign credi-
tors and they prefer our bonds,
which have gone to the amount, il
Is estimated, Of $3.50. OO0.OUO during
TIE last six weeks. Il j. no slight
ad vantage TO have got rid. once for
all. oftLe policy OF boarding specie.
The credit of the government has
been immeasurably strengthened
by the recent liberal disbursements,
and all that remains is to take adj
vantage OF this favorable feeling
and inaugurate a definite plan for
the resumption of specie payment
at a given time. The reduction
OF the gold premium, which has
operated so injuriously 10 mcrcan-
tile interests, will thus be made to
confer incalcuable public benefit.
The Secretary should not, and we
trust will not, stop half way, but
push on towards the complete and
speedy restoration OF public conf
deuce by a return TO specie pay
mcnts. He has demonstrated its
feasibility by his recent policy"
We present the following eXtrac.
from the Financial Chronicle as it
gives an encouraging view for
1870;
"A f,ir survey Of the coUdition
Of the country appears TO Us to
warrant the expectation OF a steady
prosperous business in 1870. The
abundant crops this year should
certainly lay the basis of an i'm.
proved trade. Our grain crops
have been such as to reduce the
prices of Hour 10 about the figures
of iSG0. The wool crop has been
so abundant rs to reduce the value
of that staple TO about ante-war
prices. Tie production OF coal Is
so ample that, in spite Of artificial
manipulation OF the retail market,
the late high prices can be no longer
maintained, while the decline in
gold naturally contributes TO u
generally lower scale Of prices. We
thus have q condition OF affairs
calculated 10 lower, by a natural
process, the general costs OF living
which supple, one of the chief
prerequisites TO q reduction ia the
scale Of wages, the high water
rates Of which are still the Dane OF
industrial progress.
Thes" tendencies toward Il natu-
raj decline IN pIiccs may not APP
pear very ~tl4ttcriug to surface Oh.
serycrs-iudeed, 10 the inverted
vision OF some they afford the basis
Of prophcsies Of disaster-Gut they
are really tue condition precedent
TO n soundcr condition Of industry
and trade, and are evidence Of a
uatiopal gain in production over
CONSUMPTION, and Of " consequent
recovery OF stocks of products in
The various markets.
Upon the whole, then, II we may
not look upon 1870 with Sauguiuc
expectations, neither may We view
II with apprehension. II the pros
pcct holds ont 40 great promise.
neither is it frgightcd with an!
special danger, and perhup, tic
mercantile community need less to
be cautioned than encouraged
From the .cpovt Of Commi,siouC
Wells.
Excess Of revenue over cXpcndi
lures, Sl9,4J3, li9,4G.
Reduction OF the national debt fol
ihe current calendar year, mort
than eighiy-Seveu millions.
Reduction since sept. Isl, 1860
about three Hundred aud four mil
lions.
Total cost OF the war, nine thOus
and millions.
The present increase of popu&
ton OF the United States is at thC
rate of about 100000 per annun
Us a minimum.
The number of miles Of railwa!
constructed since the war, 1900
opening 10000 square miles OF ter
ritOry for settlement,
The present valuation of real and
personal property in the United
States, is estimated at about 24,0U
millions including a deduction o
) 5000 millions for the loss of thu
war. The value of the gross annu'
|, al product Of the nation is estima
ted at 1000 millions.
Value of agricultural product
for the current year, upward o
5000 million. Other wealth pro
ducing industries, more than 4,0Oj
millions.
National securities held abroad
1000 millions. Other securities
S465. 100000.
Balance against the United
States, for foreign trade, SIG $50.
$40. Excess of specie and bullion
exported S37,4S3,GO4. $500,
With other matters added tn
foreign balance against the United
States, amounts TO upward OF 2U
millions.
TanN