St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1873-12-12

last. The full effect of this disaster. II
it should not prove "a blessing i'll dis
guise" is vet to be demonstrated. In
either event it is your duty to heed the
lesson and provide hy Wise and we'll
considered legislation. as far as it lies
in your power, against its recurrence.
and to take advantage of all heuetts
that may have accrued.
SPECIE PAYMENTS.
My own Judgment is that however
much individuals may have suffered,
one long step has been taken toward
specie payment; that We can never
have permanent prosperity until >pc-
Gle basis is reached. and that Il spc-
cie basis cannot he reached and main
tanned until our exports. exclusive of
gold, pay for Our imports. interest du"
abroad and other specie obligations. or
So nearly :" us to lcase an apl,rrciHhl"
accumulation of the precious metals III
the country from the products of "ur
own mines.
The development of the mines "f
precious metals during the past ycal.
and the prospective development Ui
them for years to come, are gratifying
III their results. Could one half of the
gold extracted from the mines he re-
tanned ut home. our advance toward
specie payments would he rapid. To
iI,,rc,s,. our rxports sufficient currcn-
cl is required To keep all the industries
of the country employed: without this
national as well rs individual bank
ruptcN must cnSue. lmdue initiation
on the other hand, while it might give
t,mnnr,rv relief vuuld only lead TO in
tI,tinu ot, nr.ic,s TIN, cxnrt medium
! snrci, thc r.roruizrd medium
of exchange the world over: that oh
t,iu.d "a. Shall have = currency of an
,x,rt d.rI.e of elasticity.
If thcr,. b,. TOO much of il for the lr-
,ritir,,t. uuruns,.s of trade and com
mrrrc i, will flow ont of the country.
if roo little the reverse. will result. 10
hold what we have and to apprrcia1c
nur currcucy to that standard j. a prob
lem DESERVING of the most serious con
sid,r,tinu ut IGNORES.
TL,.xn.r;.uc, nf IN. nros,nt manic
L.,. ,,,,,.,.r ,L.+ RI. ,.ui.,.n,.v nt tL.
,.nuut,,. h,s.d nS II !. unnn ti,,. ,.r,dir
of tho rn,,ntr, !. thc hest thai has cv-
49,, I.,, doyi..d I.uoII, in timc. ot
.,,,.b ,ri,Is rurr.rc,. h.s hcrnmc worth
les. 80. 81 n,,,.I, J,.n,,.,.;,r.d in y,IrI,
tn intI,tc thr y,Iurs ot all the ucccss;i-
,;,. ,f Iir,. %. ,.,,rr,r,.d ,vith th,. ,.Iu -
reury
If !. p,tent ,o the most casual nh-
server than much more currrnc, or
money i required To transact the lcGlt-
.,Ii' en- .,rJ ,,'irt',r ,,,,,,Ll u:hen thn ,o.,
,rmns ,ro hr;nr removed than Jpring
d
VIII am. ,,r...,.,,t .,..,, rho .,r,our,
:, H. ,,,,,,,., ,,,,,,;,,' ,I,a ..,,,,,
~ ~ ,n ,o',l,i,,', ~.
-" - 80
d" q" ~ 'i w. c,
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i,', ,'i,I ,',,,.i,
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,h.',, ,,.;',,t In j.; I,a ,,,,,,r, ;,
n',,iJ H.. ai-,rI,od ,,,i,.s L,n,,ir,
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iNTEENN IENN>r"HT \TI"\.
.Cb,.,n tr,rsno,t,ri,u" i , suhicc,
,h.,t h.,. .,,t,.,,t,.I tho .,it,,,ti,n of LntI
,,,.,l,,,,,.,.. .,,,I ,,,,.,,,,,,.,., g., ,,.
t.,, ,,..,,. md h.,s c,,rt,iI,t..d IN II i
L.,. ,,, lo..,, en-. ,I;r,.,., ,,.,,so ,,t ,h. 49,,
,.,,,t ,.,,,i,. and ,,,i,,,,n,, A. tn,
arcs. ~ irs Inst .,,,inn .,n,,iur,n
Sr.,.i.I commune. tn inynlt,,,,,. hi.
whole subject ,uriuo ynrntinn and r.,
,,.,, -, ~ ,.,,;,,, ! l.,,a ,,,,,I,;,',r :.
,,,..,,,,,,,,,,I mil ,i,..;, r,.,,,,, !, ,'7.,I
r,I,,',,, ,,,,,, ,,',i' h,,,,.i,''', - ,',,
,;,,,,',I 'I,.,,,,.,., ;r uI,;,J, H., ,,,.,t,,
portion of the East and West. tn,
North ahd the south: ne equally lntc'
'st'"' |" "hich VIII ih\l' \o"l a'''h
non;
ne ''''r "i New iolk mas 'iii''
!, '"hh'''ih% lake Eric Win 'le ,i'' wa
Ter ON 'h' iin"S"ll river an" 'ie >''l
q "t lilii"iH HaS Il siihllii WORN connect
= ihS l-'N' MiT,iiSth VII" nav i@a"i' w"
'c's "u ''It il''i"lS !'\'i' mus ',''NI'E
Na'ct comm uiI'atl"h li'i"" '''N't
Tue East ana 'ho NtH' anu H""'h.
: i"Sr great ar'lil'ial water c"hrN',
are lnt property ol Tue 7'dtcs lhlo'G
I Nll'n 'htH pass an" p'iN ION 10 'l"'
! states. womb II NOT ne wise Sla''>
hl;lhSllil' l" pl"u%' THESE states ih'''
/ thrN VIII "Pcn these canals l"l the pas
SaSe "l large vessels the "ehei'l ''"H
rrhincn' VIII LOOK ailer ana Keep J.
iaNiGa"'' '"i''l'i"n tht great Pu"il
highways win "iilch IheN connect I