The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1870-01-13


other nation eau exhibit: From these y
appears that the amount Of bonds purchased
since March /, 1902, for the sinking iund
WAAt ", o00, 900, and the amount purchased
subiqr| 70 Congress- t64,OOO,OOO, being IN
all 100000. The same proportion 81
pure n1.e for January and February wo Il
Ihee2a -, 900, makinga sum-total 81 tlOsl-
4. gOopN for one year, And, notWlihstana-
lng IN outlay, we nnd In the Treasufy
l69,0Oo, and In currency sl2,1iS, 600, max
Ing sum-total OF SlSl,ss2,OOO. And yet
with these tokens OF national resources
manifest to the world, our bonds are below
par, and our currency IL lnconvertiblc paper
This should not be, permitted any longer,
l1Wthtu these resources there must be a
way even u we were not taught that Will
aiNAys nndt . way. -----
Ihs reiundlng q an exciting loan Implies
Two distinct and Independent tranaactlonsi
hrse the extinction By payment IN some form
OF the existing loan, md secondly, the nego'
tatlon Of q new loan TO an amount equal to
that oxunguished. -rr.....
The Dill now before the Senate contem'
plates the prompt extinguiahmento Of the i've
twentles OF lso2- But would not have this
Important work entered upon until the Gov
eminent b fnliy prepared 70 say that, aher
4 certain period Of notice, say ak months,
O5GS, ssAs OaD. S0 .SS a. kIToRs may
1858 ShAll cease, and The boads DO foIthvIth
nedeemed In coin. There should be no coer'
oion Of any kind upon any holder, at home
o. abroad, 70 induce the acceptance ofa sub
Sttute bond. ] am happy V believe that
With the judlcious use Of Eve per cent. ten
fortloa all tho cola necessary for such lnde-
pendent action may Be assured IN advance.
Believing that such I'VE per cent. bonds vii
. | "A al hW inwnaf.ra a. hla n
coin, would give the holders Of the old
bonds the nrst opportunity 70 subscribe for
the new. such as elcct coin VIII make room
Tor othere ready TO give coin In exchange for
such bondn. no 7iE~ #rIf .. ...
IL We look a. the Practical consequences
We shall 20 encourages IN this course. The
lrefunding OF the alxee OF 1859, being up
wrds OF I've hundred millions, Into hyee.
a. authorlEed BY tho first section Of the bill,
10y. Pl,..,. tne PsJnv a IIou Wvsen'
h.srS ~ src.s. ~ 49,, ,.sa,is. .hora NV,
aSa brnSrod ,.IiIIo.., ,,rc'la.d r., M. sr
n,,.i r.dnr,I,. N I.t.l,', -, ,hs, L. Iii
be Al asa ga. Tbo rnb,tItntIon ~ th,ss
undrsd nnIIlInn, ~ Sorrs n, ! liz .r,nno,
~ sJrss .ss ,rovjaad IN M h,iI wii, onSysIa
a srr,Ssr sly,ns ~ a. ooo noa ny o.A.0
snn..to,al ~ al ssS Sie ~ a. 49,
mlIiIons- Thar yin ibsn remaIn but 400 !.
| 11s ann .nhiast ~ raSsrat,,ia. 49,, a..
tgnn,Is. ~ Lad 's N'0
| n1,Jng ths vear 1871 The fur,h.r .,,,, =,
a6aS sss 40 hslng ys'tweniiss ~ daa 4
wiII faII WithIn ne Control m ths aoSoSn,
ment, when. al II scans 10 me And accord,
/ inc n the coptenniation nTths nm ~
/ eredit of Tho GoSarnmsnt viii hs Al men !
i nltch th.t ave hnndso5 r,IIiio,s sar u. -
/ mndsd. In fonr and a h.If nsr csnts I'm
me addition of thIrty.sIT mIiIIons naid From,
| Inc Treasnrv- thns tanning Z f1r,har -
| mai r.Snr1ion N a ZOO oqo a. a ,oI.i -.
s..i -. ~ Sat saa ne - 800 ~.
49, .s'it,to. " "s.eh aoVu.
o ons may % sayea aenng the
G,il ny ycah heIe iIL 'ne present. We SOP.
ouI hnse.ess-Payng aeos cannot DC Inrther
meiioLa.oo oeIote Lots, mhen three nun
urea ana soventy-nlne millions, being ave
tWenuee OF ieoIl wn become rodeemable,
sna Inen N 700 when tortytWo millions,
oelnt entHentles OF lSoo ana eonstltut.
ing tne oaianoe o. our optional skies, VIII
So si, Isoeeheoie, Al o. when ! gladly
Ssn,. nSJ,aS ~ ~ Ie'S ,hu , ~ .ns iout Per
so,iS, ~ .psi Mo pIe,eu' Viii, 70 pe
IonoMsa 20 Lon oy REDUCTION OF the origl'
nIi ssn-iS's s lnso I sini is oonas;
~ ~ .Ja III i hro I'm! me ol under
~, :" 49, w" ~ tno MnO.o uIspCseoie ma
sI1Via H9y'. ho AMOUNTS - winch nave
sHggn WIN " aoInu IN the treasury taoles
81 ~ y .inS,y ~ ,ass, ana Are irrespective OF
'AS " INV " an ~ tu'poseu surplus.
al, LOU % tnSse aetahs ! Pass 70 consider the
o'1 Tt ~ " am, Hnu Piinolpes.
| my PIoPoslion N1n Mhlcn 1egln - 70
Iu ~ III en- ny Nv h oI lo91'
S amounting ~ upwards OF I'VE hehafed mill
. nyns my nYe PEI cent. ten,loItes. 10
s.lS VIC 'eilh ssnIVI,les auopt tue de-
-. =. ov h uSu NOV hnonn nnu Popu i Y,
~ nvI 1 hnu noioaa hhose payment IN
S ~, III sIPu un NJ ~ sne 9,lgl9al
". au'noIsing the issue; Inc oond oegins
T WIN gooa name wnlch VIII commend u.
me Interest which propose is larger than
4 wouia propose ior any late bond. lt Is
Important II not necessary, In order to
c0anteraet the suspicion which has been
AioNed 70 ial upon our national credit
Even our sizes are now below par In Eu-
rope. But tney VIII unquesuonably share
tne elevation OF the new hyes substituted.
oar nrst attempt should be with the latter.
have par -ery,erywhere. 49, 80 '"-"
In this procesa ira fr.t atag. 4. tha oo,.
yictIon that All ouT bonds VIM be naIS IN
the universal money or Tho world. AIibonds
whether fyes or sizes. Win linen adyanea,
kna,w NJ 49,, O.. ,,AI.h All. -. ..I..I.I -