, 1873-12-03

-
but would hnvo this work conducted at tlmea
when tho rcyot,nos Of the country would Abnn-
dnntly justify 1t.
Tho rovct,ncs have materially fallon on Tor tho
Inst iyo months Of tho present fiscal yoar from
tho general pantd now provalf'ng which COM
n,oneol abont the middle Of September Inst:
lilo full effect Of this dIsantcr-if, it dooa not
prove 10 ho blessing n disgnisois set TO ooo no
duty to head tho lcseon and provide,
BY wiso and woll-cot,aidosed legislation, as
Tar AZ IL lies In your powor, against its roenr.
may Gnvo accrued. ny own Judgment is. that.
I however mulch individuals lnny hnve Hlnerotl.
ono long step las been tnkon toward specie pay
nonta; that wo can novor ayo permahons pros,
sreclo basis cnnnot DO roac]lcd md maintained
until our exports, exclusive Of gold, pay for our
Imports, intorost duo abroad, aud other spccu-
la,ions, SO heavy As to lonve an !appreolnblo
| accumulation of those metals In tho country
from products Of our mtnoa. Tho doyolop-
mont OF tho minos OF precious mosalH
during tho past year.. and tito Proapeotlye
development Of them for yeara to come are
gold extracted from 1nincs be retained At homo,
our advance towards specie payments would be
rapid 10 increase our exports, sufficient cur.
o required to k'eR %sat s ha ts natono
AZ e,,p sclt u; "s ,niyidns bsnruptoy must onsuo.
T. Wnduo DUO, inilatiou hn on tho oter hand, Wills i
might give temporary rellof, would only lead
~ ~ ~, " ,,,,,rSo,a ~ I'm nTocts of
Romas Ros Iii. ii I and Labor md ropoated REMOVALS. Of
experiences.
THE ounnEScY.
Elasticity to our specnlating medium, thorc-
1orn' anu 5nst eonS" ta uotrv and IT, sssn so
leemate oususa u ~ ,a. ;a ,aat nnt So,irn Ia
Tug oxacs odau ~ apuu,pi aria .uu c.
mealahi OF eAcnea .e ~ ~. n,oot
ta'nea ana We sna 11'9 aasn -, T. " r,Sn ~
1cEIso ~ i.st ,,,,.a,sas ~ trs5o nmi ANU
meTco, WI now ~. y, to ~ Xxx ,,i,at ~ ~
ntt!o the TeqoFso wll tcs"!s. nou "t"t IVY ~
IaYa, hnq ~ .zer,,,e Un - H. rast
atandaEd 10 proplena acsoane u r, .no nluss
SERIOUS conslaolason u oons'asn >tn. pt,at
otlce Oh the ple7on. pa"'p nao no5 p,o55'n - snI =
tho currency OF tMe country, uasoo ~ - -
upon shE cIau.t a % " a.,., .au Iia,si1v t
~ pess aas Aan n;e's ~ ~" b,s hcomn
W9ILnleas, ut ~ III ~ aaaos,r;aa ~ ia "a ~
innate VALUES % u ~ tne ~ ". LII,
uonpasea e T,m na, 'oo pT;n - anose ~ i m INV
ing IL has peon nMAun7 10 ~ ndnry5 y
ttime' w" W. "A:nonn .ie,. r III LII l., frr,ar
OF ouIlonoy noa'9 ~ ns .nes ~ Ely s"tamt ~ 70 tl.a
experiences o. o =. 10 ~
hiost ctsu9 oosutx wi sa. e, H. io~it;rna9a
or money IT, s fn ~. a,,i ss;,,sor
AZ 1,uft.
mooths' "'ela 'no Snns etup' M'p ,'.,o,ca ~
TehoVeu, tnTn ~, uua.ns tno III 'Arv nn,,,,s,
sne Soa,. IT, saw ,rn,o,,o,t ~, vear rcsm;ng
u an Standardization nm @ Of al the surpus caital Il
Tue con.'?, I9un % INV eiIin, tarnta1 thera hg
ttto crops Las!otn Gltes XIII 'nenr
onets ~ I'LL ma ;',.nrn.t rn;1 tx,i,
pat ha;,, snhiact t cai1 r. cnn bc oancJ
P19:. oois sinjoet s =. ~ , I rahant s ~ ,aan,,
onay ~ psls ~ nus1 @ ~ sae ,.on ~, ,n.tnr hov
Iactsel .ui sosu i,n T.; ~ t,so an',,1rv n
alten M h5ta Iae kao,nv W. ,aco .tE lila
Wouia w apaorpou paosn sa III p@Io a;Iastnrs
vounoi a''u puA.es, attinSehoJs Sst "L I.tt;tr T.,
mua,u wv r,,,'e*, u'er s",to,n ~ "N'A'
OUT money systen. s..4 l.. ,ht,;x,,, er.t ,,a
LUIS - .ao ',s;,,1a ~ r,rnn.ion ~ III ,,ao
m op1 us i IN b stn nnd other sneeics Of specua
y. ~ ~ ~ ao,'e ~ @ at.ar - aos,. - 1na tLat
Don ront .n,,i ha t"cn hv nroiib;t,no fla
NY scop fro,n vr, m onns,ts
~. sa';i aha, - Xxi P;nr roucruas IL 1l,ais
, o;rn vnu;fa nui hv forn nv them inlo rosu,nv,-
zion. though It would be only in lcsaI-tcndor
m"tca n. 'A Tar this nurnoao / would snggeat tho
ostabliB,1meut Of Cleatiny-H Houses for your con-
s;iaraI;nn
M tccnra TIM for7nor advantage. referred tt
> above. uany plans have beon suggested, mos,
or nnn,uellinr tho Goyornmont. on tho other, te
, | INV intorcst withnnt corrospoud1ur benefits
: Inn, tho s,rnlns fu,,ds of tic couutry, durine
/ lie scasoup whou otherwise unemployed. sub
, m;t for yor,r consideration whether this dill
ouit, ,,,;cnt nof Ia ovorcnnn hv authorizing t',f
] snc;ctnrS "f tle Treasury to issue Of auy time
' to 1lomnal bauks Of issue any amount of thoil
a ~" An mr. co,t nnrn the h.nks t|ononitiua
t With the Treasurer Of lho United States al
0 amount Of Government bonls equal t.
! tho anouut of uotes demandol, Tho banks K
. ro,fo;t ~ tha 9nvor,n,ent anv mr. cant ar
!. tno ,mtorcst nccruins, IN lila binds so plodgol
{ dmr,nr tho tina thoy ron,ain with tho Treasury
D M nes,ritv for the fforenso of circulation. iii
bond, No i,lodced to be roJeomablo by tile bau;s
nj .j,c;r uieaa,iro oi;hor in whole or in part, b
= ~a+nm,;,r 4i,nir avn h;tI4 for cnnceatinn to nj
!, amount oaual to t1o face Of the bonds with
: drawn,
. would further suggest for your conniilerat,o,
Il tho proproty OF authorizing Natioual Banks t.
ii diminish ffnr atapt]iur insra at uleaHur
d BY roturning for cancellation their owl
u bills, and Withdrawing 30 many Unito
9 Statos Louds rs nro pledged for tho bills re