New-York tribune., 1872-12-03

circulation until "a OF the same value substantially s ss
coin This beng accepted M tho settcn puiposs " wv,
r,untry there can bo permanent incroa-e oI "n IN
a"cn hctw"e, raror and coin. and An ofiuuty WIN
BE- sivqp 70, Che Influence o. d"aS5a Ha ccnGioD Va
nay coint drst among those tho ncroaHs of p0puianon
and ts distribution oyer new hel9s o, nncr "i
pcr.ons having property. and udna ana honing
money, will ipcrchse next we may hn'ipia ppcia stst@s
by which. prartcally, for tho rest OF ibo country,
The volume OF paper viii bo dminishod ard i,ns no
auantty OF coin Increased facts tending 10 produce
an nquaIIty of value. Tho Influence Of these natural
causes viii be coaueraolod IN some degree by tho & IN
pont 20 another and by tho greater use OF hank checks
and certificates OF deposit The rapid trans, o, ar er
or 10 tho time Of IL production IL agency Of similar
sort, giving 10 these views tbcir full weight.
YpAsciaL IMPROVEMENT PROBABLE.
am prepared 10 say that the experience OF tho iaet
three years copcdos with the best Judgment form
and warrants opinion that. under the influence OF
existing natural causes. financial condition VIII
gradually improve During the last fiscal year there
wero several circumstances OF unusual character
tending to counteract the natural course OF al
fars. Our reports OF cotton fell of D7.OCOOOO
aud thoro were excessive Imports OF wool, tea,
coffee and sugar The stock OF wool in ware
house ON the SOh VI June sufficient for six months
consumption OF sugar for ~ montbS, OF coffee for We
mobths' and Of tea for IA months. In the ordinary
OF trade the importation OF these articles WIZ DC
small durug the current year. with consequent iaYor
able effect upon the balance between this ana
countries. This anticipation OF the wants OF
the country in connection with the decrease OF our
exports augmented the balance OF trade created an nc
tive demand con and advanced the price. Notwith-
standing these adverse Influences gold has averaged.
substantially. the s0ne premium from jan 10 NOV OF
the prese for the corresponding perOd OF lo
Not doubling that natural causes VIII In time produce
the result sought IA yet advisable 10 bring tho power
OF the Goyerement IN aid OF the movement as iar az
practicable.
The revival OF foreign commerce ia ono instru.
mentality and perhaps the most efficient OF all "
the annual Of American vessels were $40 100000
instead OF S0OQ0, the difference In the amount OF ex-
adverse balance ordinary years. Tue experience OF
Europe tends TO show that the ability OF
country 20 maintain specie payments quo
largely TO the condition OF is foreign trade
proves the channels transportation between the sea
hoard and the aud Praingrowng regions Of the
country or lessons the cost OF freights adds some
thing To our capIcy to compete successfully In the
narkets OF tic world. Finally, those measures
when encourage American manufactures, es-
pecially OF iron, wool and cotton, and discourage
ihe Importation Of Ike products, AFFECT favor,
,ly the balance Of trade and help toward the end
we seek This statement in these parts is general
statement OF policy that In my opinion, VIII ald the
reaching condition when IL Will be practc-
able 20 resume aud maintain specie payments. Ahucl,
uai Ing that day anticipate also that tue burden OF
will rest upon the GOYerntent
There now are now more than 1900 banks In the
country and cannot Imagine conditon OF lhlnXs SO
times 10 redeem their in specie only without pro-
recdng To discussion OF the subject D detail, thnk
that ali will have hecn gained hat Is or value Whcn
Tie Treasury shall be prepared to pay he demand notes
pared 10 way their notes either In coin or In egatender
otcs aud then good fortune will clearly appear IN
THIS tat paper currency Is not exclusively OF ma
Ona bank notes exclusively OF United states notes
GEO. 5. boutwell,. Secretary Of the Treasury
Hon Jas G. Blame. Speaker Of the House Of Repre-
sef.tttlNns