, 1873-10-11
Government and Trade.
Grant, Boutwell, & Co. on the Suspcn-
sion of Political Economy.
Truth sC0slnnp0litan, but Not Mt
tiOnul."
Notes on Passing Faces.


what tho positisians llavo hocn doing for us III
anticipation of tile into atrngency mud alarin'
nourw1:1tt Al SIR ORACLE.
Mr. Boutwell, has been Presltont GRANTS
alsdaa Tor about four years. LII llla report to
apcakef H!athe, tlatoa ucc' q 1o'at ho "foto
1our I'LL pages OH tho currency aha oAchalso'
1lo atated TIC oaRtacle Of ING any az 1ol'o"H:
rho circulation OF each bahk ID 1iSoa afoi-
trarlly ny rue OF INV. lno aggreea1o c'fcula-
ton ~, therefore, IKEA sum, a1la consequently
moro IL practically no reserFo 10 "eot tnu 1h-
ctoasoa uemaha LOT money o"o oceaslohnAy u
e3tfAorulnasy eFehta III holno Ut AofoMa' aho
ar'slne nefioaseally Will LILO incoming ot tho naF
Fost' Inc GU esaso'pa'ls aSstetn III sotho.',ioe
commended lof the q"@u1y toimea e'osstcng
put TINT qa1ahty' as ionlm Ill TIM systoM, was
Luz pf'he1i"l so'lce VI 4lhaie'.'' u'7a'o1: onoo.
TINT systom IN tho apseteo OF present aomanu
Tor conn., thefo was pfactsca1ly NO hm1 10 tho !s
sue OF paper currency IL ean hoVor DO
wise to allow banka or parties WHO haso poctl-
mary lhtofosts As staRo 10 ll'cteaHe or dlHtn'sh
the volume OF currency III tho country nt their
pleasuro.'
MIR. boutwell, tlon gives up tho conandr1lm:
Nor DO lo'on u lind IN tho condition OF
things law Or fulo OIL which wo can safoly fo-
IT,"
Ihcro 49, inaeen' no proposition oetore tho
country, except TINT long advocated by Horace
Grca1av. John LYNCH. md others, to naka orr
1or,1. on,or,,l,Io III, o,ronor ~ viii opd t1,o
uon'.o INV ~ 49, "Is s4,o
ca!fehcY oo"1laiesS 10 lho po''us,-ineet1ht onls
being the check upon Oil excessive application
for currency.
rur TnAnr.no11Ap AMI EXCHANGE.
aroot axroctntiona oro ontortainod of ,ho
oNt@ ill.,. 49, c.,.,,,",
pulesanco OF our now tfado-doilar.- Spanish
and N{c1icau silver picco }ankeo'zed,-to mako
New York tho scat of cxchnneo for tho g1obo,
;,utoad ~ 1omhord atroo. Richnrdson nirondv
.""so - ..:u' "a@a.'a..;s., - 1,a.,;,, ,,,,ot.
hppea's Will IL fccoAltlle''''A'loa W po6i, auu.
ing foreign exchange from our standard, with
tho cent for tho deviation, nstoad Of fractions
| of tho mound, 1lorin. and thaler, Even Gen.
! cront hou ,,oo,, ,rr;tinc oxercsoa m cxchanro.
ulans M t'aS noon "ll''s usoae''0 -, W. aa,I'o
anu t'ao Aaf'o"ot 1seln*oeteon !" ooaple-
| loaded announcement, said, last Friday, that
"IIe expressed tic opinion TINT tho merchants
aud solid businessmen Of tho country would
ta,o a,1vnrt,so ~ t,,n Inv roto ~ oxchanro nor
tAHo a,!SA"tatn VI tno ~" 1".o " ~"
prevailing Ill tue management OF THOR 1a'4 o'1sa
a-tranAactons."
How could Il merchant tlo this WHOM tllcro WIS
m currency lo tlo il with7
,, 1,.tt,.o,, ,,,7ny !, mi. ;,,,,rt,,,+ s,,,3o,,
hAl' !'o"'"o' ''""o ~ ''''o ''''lu' ''''1 ".1.1s
lit iils hut report Only ny b"s1"G s1"t' ~ our
annual oarningB rs vcnsol-owners wero $780, 0o0,-
0uO instead Of 3o.goo,000, tic difference iii tho
omouut ~ cxc,mnco avo;,nh1o o,,rond wou1d
oot ,orro ~ ,"r nf i1,o n1xarso Inlnnco ;,, or.
orv Huor vonSs M i iii. ~ onoicr romar from tho
np''s nmi '0'''' N' 80 "oo'S' 1''' '@'o
contr;vnncoa M " to s',a. in.ormotiMn1 no,t}dopco
ed s,,bst;tmte tI, for frc;nhtaMtnof ;ts oririn
T., t t,," ,,oraoct;nna - laws Win ,arnd mt sfuJ
their y goid over lie highways Of medieval aud
nac aao1s ntier thn;r Mrttcn nlicotinma f. eivj.
stn o'lS. .ma ~ ~ h;1aut nttn;,,,ot, nv
;a ~ hrstnn ~ y H. t1 Il e. i,a bnat es 1,oths-
n, ,,nIaa T. ~ 40 % 11orry iow@ ,anf]3ca ~
Iii - nxnL.n1a ~ .a1.nu ~ ;.oi,a Tro,, ;ta roro
t;ai;'i, II ond ts + orivas fran, Iho nos;sro
tsaes ~ 49, ; ~? ~ H.! ~ foa - va, t";ti,n,1tt
,,. nond;t na w;o I'm 1rcs;1a"f ,,nn,
hnyro,' nny cnnIitim Of to cnrrouey coI1nralatos
. 1aafem ~, ~ ,,or .H n,,ors;,r i Inv are
so o,'o'o ,'o sn,fsat. ~ la,v ~ na"co Viz u Ihnt
, ~ XIII p oxca"an - 1ha caa rciat,vo1v i
to tho t,,rrn,ovs tho fawnF htIa of "xchnnro. tho
o ,',oro ,,onty ,o1nt;pnlv IL monnv II e. wall
o,o e'i., hgxovar i3r II M ircsaont r. ro
wau6a '9r ~ III ,n ,o'r,. n.u int tho
~ ',nvcynmnnt tho r',Jnc;nias of noliticai ocnnn
nv ~ nro nntionn}. nnd mt cosmo,5ojtan." The
aa,,a , ~ ms" i,o nj, cf ho Inv If rrnv;tv ,1ndcr
sae ,m n no 1 n t aa NV r. for oynno
un.on nf ,lr,,nEnrn mirl.t apnoar to tlomsolyos
10 10 III i"''.,'x Ills "p%S1o'. p%S1o PREDICTED,
M nontws in 1872 sssfssd tho psssen
crro'ry for ovur ~ NJ ta sros o od nisne
Il ~ nnoo vhon tl,af work Il annn. irhin il q
Nv uID ,vnr o o "dJs Menl cnnnoL ho con.
M1aI ~ H." hn Ink n t,,o rronn,,rv nonnrt
as - I,.tool r. "nswarinsr h;a "wn 1noation
1Ipn'' H. nomiwell v Il thon SAW tint higI nro.
oei tect;on morn Amarica,1 SHINING. and moro
trnnsmortatinn iatwoon tia fioI,ls Of nroil,lco
aaIot a,u1 tLn "r mnrts ad.1cd to IN sturiv ro.
f' fs,1 tn aid fo tho no,,or in circmlalioll.
.,sI hr;nr al,nnt enacn. .nnvnonts throurl 4 nurh
matnpa1 r co.ea !" i.r1a n,nninra ca,,scs nnn
wnm1i th;m,t onr croton iinameors meant. In
|
Of nnr i,oota oyer s,,cccssivn tcr,acos ~ nnnn'
r. In @o1Ian, tnhlosiand f11~'
~ wv nnu cnSnlr,nw a. m crpnrycv
N;,atconA AM1,tIrc1.nld bonIs whirh t,yn aboyo
sino mn nm of hanl.notnn thorofnr. au,1 tln n
i,nui,,n.s nr ss70 nnn ndN IN lila adj :si0f, G1i,
a of iTnitci stntcs -ton,1or notos md fra,.
tfonoi nj rnrronrv ,rotaf moucv nrnilnb1o in oY-
tro,mt,, roii ~ s.ann i'm nm "~' '''"''"
@i M ti,o "lovc narorron1 NIT IN tne momory
n lpp1I XII ~ ~ ~S'o p'A "f'' Wv ~ ~