The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1872-01-18


at par in gold, no one ought to doubt the
ability OF the Government to resume at any
moment. If The Government would redeem
on presentation, lis demand nO!eS cancel nd
destroy its fractional currency, and pay out
to its creditors either gold or legal tenders
as might De demanded, there can be no
doubt that the who'e amount Of greenbaCk>,
with the exception of the fractional, would
be kept in circulation, and the intoleraule
| nuisance of fractional currency would b.
abateG With small! coin. Should such prov,
The case. then the only apprehension OF a
contraction would be from the National
Banks, whleh mlg INT fear a demand for coin
The National Bank currency is now we'll
established in public confidence, and their
circulating notes arc all guaranteed by Gov
efnment securities with an adequate marnit,
| OF contingencies, and such notes issued in
Massachusetts, Kansas or Texas, circulate as
readily IN wisconsin as in he neghborhOod
| where emitted, and they are now so scattered
over the entire country, that it is not likely
they VIII be collected and sent home tor
resumption, unless the banks themselves
Iesorted to that policy and were mutually en-
gagged In destroying one another.
Cold Is only maintained at its present pre-
! mum by the demand for it for specific pur
pose, VIZ: to discharge balances abroad and
! 10 pay tariff duties. Take away any
considerable portion Of the demand, and the
value OF gold and legal tenders will at once
nearly approximate, and when that result il
reached, n" one need apprehend danger from
d resumption.
Authority from Congress to collect one
nail the tariff duties in legal tenders w0ud
Destroy the demand for 100000, 600 gO!u per
anhum, and would still leave the Cow.
mcnt with its large coin reserve in a pos ton
10 meet al It's engagements, and wouG so
appreciate the legal tenders as to make re-
sumption safe and easy tor the Government
aud people 1t is recommended that Won
nj morallze O. ngreSs in favor of the payment
OF coin for all its deb s.
POSTAL TELEGRAPH
The Presid' mt, in his late annual message
recommended to Congress the adoption OF a
Government telegraph system in connection
with our postal eys TN. 1t would seem that
THIS recommendation ought TO receive the
approval of all parties except such as now
control the transmission of the intelligence
o The country by telegraph, and the gam
blrrS and STOCK jOberS by whom the tc!e
graph is now SO largely used and whose Uccu
patiOns would be gone if il was made SO
cheap and reliable as to be within the reach
OF all. Though The telegraph is an American
invention and he character Of our people
aAd country is such as to make it certain,
That undrr equally favorable circumstances
1t would be used here more freely than in
any other couI,ry--the fact is, there is hardly
any civilized country on The globe VI here h"
telegraph Is used so little by the masses s IN
thc I'M ed States. In Europe, nearly ftty
per cent. OF ali messages are upon social and
family matters, while in this country the
same class OF messages scarcely reach five per
cent, aud 1t is evident that our country is
about to be the last enlightened country to
receive the full benefit OF that wonderful in
vention
The opposition to the assumption by the
government OF the telegraphlc business Of
the country. is based upon three objections
LIST. That ii will tend to largely increase
the patronage of the Government and the
concentration of power at the national Cap
ItaI. .....r.. ......-.
I'd. Thatit will place all the social and husi-
ness secrets of the public in the possession Of
he Government.
Sd. The great expense that the adoption
"t he system would entail upon the Govern
men and peop'e.
al these objections. in my opinion, are
grOundltSs The connection OF the wires
with the pOStotf1ces viii not add to he mum
Der OF pos masters It is true that in many
offices the pOStnasttrs would he compelled
10 employ one or more operators to assist
them in the discharge Other duties, but he
ina uguration Of the new system OF Civil Ser
vice Reform will inSu the appointment Of
teegrapherS on the, ground OF their fl ness
alone, without regard to their political Opin
ions, and they will only he removed for
pioyed as Operators, and are found 10 be very
capable and expert in he discharge OF their
duties Ii the system should be adopted in
This country, no Doubt it would open up EN-.
ployment for large number Of women 10
obtain an honest livelihood. Nor would it
be cause OF regret to see one branch OF gov.
eminent employment opened to them, which
they can fiji with advantage to themselves
and the pubic.
That the social and business secrets of the
people would be in The possession Of the Gov
ernment officials would not be serious Oh
lection Telegraph secrets must De in the
possession Of somebody. Is it not better that
they should be III The possession of persons
controlled by efficient and stringent la VS.,
than as now wholly without law aud vlrtUa y
irresponsible? One great objection TO The
present system is that there is no responsible
party to whom the public can complain for d
redress 0: grievances with any hope of sue
cess. The expense attendant on the adoption
of the SYST, IN has been greatly exaggerated.
Better tlAn the exist ny lines can be built for
not tc exceed $40, 000,00O. Nine.tenths OF
all the lines in the country are controlled by
one company, which, having watered its
stock many times, is now represented by a
nOmina capital OF over $40 900, 900. 1t is
understood that majority Of The stock Is
held bY one man and his immediate friends
so that in truth the power OF transmitting
reIegraphio intelligence is in the hands Of one
man, anu NC Luo JdlS COG LHOuOpOlIob al Tue
country. Can worse Capitalization of pow.
er be imagined
Less than one year ago the stock of that
company was worth in the stock market, less
than SO per cent. of its WA cred capital,
which was it's full val Tue as dividend paying
stock, and the present quotations at more
than double that sum in no way represents
it's true value, but simply an intention to
impose upon the Government in case it
should determine to buy the lines. Ii the
Government cannot buy existing lines at
talr cost, it should proceed at once to build
new lines. Lines covering all the territory
now reached by the telegraph could be erect
I'd tor one fourth OF the nominal capital now
representing the lines. That sum. raised
upon i've per cent. bonds, would involve an