Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-09-22

people. and activity and vigOr impaired to
every branen OF ind1stTy' 0ur people .lss ness
from the effects u th= rebellion and n inlu-
dicious legislation; and 80 should be the aim
of the lverument TO siimulafe them By the
prospect of an early release from he burdens
which impszfe their prosperity. II We cannot
take the buTdeus from their shoulders we
should al least manifest willingness 20 help
20 bear Them.
OUR CURRENCY.
At the beginning OF the rebellion. the bank
note circulation Of the country amounted 10
not much more tbau 20 hun ired million dol
lars; n v it is near seven hundred million
Probably not more than half this amount OF
gold aud silver could be urshased with our
paper currency, and this fact makes u obvious
~ The duty of the government 70 take such
meas 1res rs viii ena0ie the holders OF tts notes
aud those OF the nstOual banks, To convert
them, without loss, into specie OF It's eQuiva-
medium need not necessari y follow. The con-
sututiOn coutemplates that the circulating
medium o. the country shall be Uniform IN
quality and va ue. At the tine OF The forma'
tion OF that instrument, the country had just
emerged from the var Of the revolution, aud
was suffering flom the sfects Of a redundant
and worthless paper currency. The sages OF
that period we're anxious 70 protect their
postsrlty nom The evils they them
selves had experienced. bene In
providing circulating medium. they
conferred upon congress the po yer TO
cola mo : = and regulate the value thereof
al the same time prollbiung the states flOm
]
IN pay ment Of debis. The anomalous condi
Il IA Cf " currency Is IN strikin contrast
villa that which was originally designed.
Our circulatI. now embraces, first, notes Of
the national banEs, which are made recci va
Bile Tor all dues 70 the government, excluding
imports, and by al 5 creditors, excepting IN
payment OF In lerest upon It's bonds and the
securities themselves; second, Legal iender
notes, issued by the United states, and which
tie law requires shall be received a. weil in
pay ment OF all debts between citizens AS y
all government dues, excepting lmPosts; and,
third, gold ana silver coin.
CLASS PRIVILEGES.
By the operation Of our present system of
finance, however, the metallic currency, when
collected, is reserved only forO e c,a-s OF gov
ernment crsJitors, who, holding It's bonds,
semt-sn1ually receive heir interest IN coin
from the national treasury. z here Is no rea-
son which will be a. cepJed as satisfactory by
the people, why those who defend u o. TIE
iaud ana protect Is on the sea the pensl0ner
upon the gratitude OF the nation, bearing the
scars AID wounds recel ed while IN It's SER
vice: he pu 3lic servants in the various ue-
psrtmeuts o. the government: the farmer
no supplies the soldiers Of the army and the
sailor OF the navy the artisan v o tolls IN
the nation'- wora shops, or the mechauic and
laborers who build IL edihces and construct
its forts aud We -sels Of war-shOril in pay
ment Of their jus. and hRTd- armed dues, re-
ceiye deprecated paper, while aEOJner class
OF their cOuntrg men, no more deserving, are
paid Il coin OF gold and silver. Equal and ex-
acI Justice requires that all editors Of the
government should De paid IN a currency pos
complished by the restoration OF The currency
10 the stRn1a ard eStabn he'd by tue consJit1-
ton; and BY this means we would remove
uiscrimi nation which may, II II mas not al
Ia done 50, ere te a PREF adice that may
become deep-rOoted Snd wide spread, and i'm
peril the national edit The {. a. b.llty OF
m king our currency correspond wi the
constitu .iOnal standard may b. en- by re er-
euce TO q eW facJs deriy ed from our CONNER
cial statistics
GOLD AND SILVER HID OUT.
The Rzgrega e product Of precious metals In
the United tales ON 1873 TO 1867 amounted
70 sl.l7t o., %, while, for The same period, the
net exports Of specie were S1il 0O0O00 Tuis
snovs excess 4 product over net eXuorts
OF $4,000 90 There are 10 the treasury si03.-
s07. .ss5 In coin; in circulation In the -tstss on
the Pacific COast about s41OJO,000, and a lew
millions in the natl nal nd Other banks-in
all less thRn slbOiu 10. Taxi into cOnhld
erauon e specie m the country prOr ls4O,
and that prOuus~ siuce 1871, and we have
more than 500. 100 90 not n counted for By ex-
portation or by the returus o. the treasury,
snd therefore most probably remaining H. the
country. These are lmpOrrRnf facts, aud snow
how eompls'eiy lhe inferior currency Wil
supereede the better, fOrcti it from circula-
4 n among the masses anu causing it 70 be
exported as mere article OF trade, 10 add to
the money capital o. 70 elgn lanus. They
money, that thu return OF gold and silver 10
the avenues OF trade n ay be invited, aud a
demand created which Will cause The reten-
tl0n at home OF a. least 50 much OF the
productions OF our rich and inexhaustible
gold bearing fields as ma. be sut1cient for
nr1rpOaes OF circu alton. 1t Is uuFessOns bic 70
fvrs,r ! rafuru 10 a sound currency Z s long "a
tha governme Mt AMI banks, by cOuu1uing b
issue trIe0 eeTnable notes, III the channels or
circulation W tn depreciated paper. NotWi b
standing q coinage py our m nJs, since lsl4,
Of eight hundred and EenLy IOur nli4lOns Vi
q liars, Lhs psOpie are now stra- grrs 70 the
currency which was designed for their use
and benefit, and specimens OF the precious
metals bearing the national device are seldom
seen, except whea produced 10 crafty the in
terest excited by their novelty. through
ages and in al. couutries, people have held
gold and silver 70 De valuable. / con { care
VII shape II 10 IN, EnelueF FoQnd Or q al IN
mOuey, or In ingOts, 10 VIII bz1ng It's Iall value
IN eytry part 81 the globe, ana il would al
most seem a. II Provideuce ce designed II or d
uniy. rssl circulating medium.
ONE TERN FOR THE PRESIDENT.
Just few words aoout mater that is nov
attracting much attention, ] am in favor OF
the President OF the United states being
elected Tor but one term, and that he should
be elected directly by the people, thus =
pensing with all congressional czucuses and
national conventions, which is a ten pat Ou
10 ds>igninz Office seekers and iutrl Eul Dg pol
iticisns 70 ~ tEe ar ang smeats FOR the omces
and p4trO' age Of the government 20 D. u
Vlded amOug themselves ana thrir sp- cial
friends. The time has arrived when n sse
conventions should be dispensed with, both
; Rts auo rational an0 me election OF the
Pres dent as have already stated, be directly ]
~ tn peOpl-. be election by the people l. I
simple and ntirely pracLcsbie, Tie rtates
70 the whole numbe OF senators aud repre- /
sen UAtives in the congress OF the United 5 ates,
WhiCn Is the basis Of the eclOTal co4eEr. /
Tbe ele tors IN each electoral district could !
vote directly for President and Vi e-Presi- 4
dent, the candidate receiving a InsiOrlts Of /
al the votes cast IN Rll the electoral districts
Of the L Uuited stat should be DEC AIRED fr ST. !
dent aud President. In the event thers /
.hOnid be more tBau two CANDIDATES, and no /
ole receiv n q majority OF ell The votes, the /
two highest shOulu re sent back 10 the people |
IOr election instead Of going 10 the house o. l
f. election a. now ?. esUri0ed /
0y the constitution OF the United tales
This would b bringing the government closer 1
10 and more directly undyr the control OF tne
people.
USITED STATES SENATORS TO BE /
ELECTED BY IHE PEOPLE.
There is one other amendment TO the con
stitu ion that I W. uid call ! our attention TO- /
aud that Il, 10 tIauBf-r lhe election OF sena- /
y8rs TO To United Sta es senate 'rlm tn le4- /
I-la ures 10 the qualified voters OF he respect
I've States The peO pie a g 70 be trds ed In tle /
cle1 JiJn OF senate =, as experience has fully |
aud painfully demonstrates, IN pre- erence 20 |
leRlslatures who are constantly corrupted by /
the use OF money when senators are TO B. |
ouesfian faltner than 10 call your attention |
o : messase e and three amendments offered |
t. the constitution In 1861, which gives nv |
views more fully upon this important Quss-
ton.
HIS POLICY OF RES OR TION NOT RE
COSSrRU -TION.
The charge Of tsrdiness has been made
aga Dst me by some OF he people OF my State,
aud they Say 4 have not been rs just as
might have been ia The restoration OF our
St lte-I do not say ecOHSfTuctt0n, as believe
there T. no sus b lhif As rccoustr cti n Ia the
south; it was only TesiO oral on. think l
have not been tsrsy nor just. On the our
teenIh day Of March, i-b5, Nj Ii coin Was