, 1874-10-03
Specie Bank-Notes to Be Issued by
the Government on Seouri-
ty Of Bonds.
All Government and National Bank
Notes to Be Changed
into These.
Rcsutnntion on This Plan Clnimcd
to 30 Devoid OF AL
Harlships,

4 Proposition Likely to Attract Con-
siderable Attention.
Special Dsspa,ch 10 Tie Chteaeo Tribune.
New YonK. Ost. 2.--Tho following letter,
ON tho resumption Of specie payments, written
by DR.. Erneat Frlgnot, Frcuch lawyor sud H.
l41Ancier, will appear Tomorrow morning III tho
Tribune. Herald, and lorid:
o Hon. john hernn. chatxaan Of tie Con.,ntt'ss on
t"aset ,. 1n,sa "> . %1sf r IT, .hy 4 ~
oifeneo to 10 ona Ii assuno tuat S ouly differences
of ppon which stii exist anong Practical statesmen
N a s S s
Of resumption II Mn right III th!4 particular
neea mike 70 aGosy Tor s1k stent1pn md
(Which yon are 50 ACTIVE n1!d SO asinguiHhed men,
e. 70 rosft% 70 Of hrnE aDSt tho % ef
Gun DO carried Into cHec not only without onlbnr-
Taasing tho industry and business interests OF tho
prnpons and to tlo people to to Natioual Dsn4 aud
ito tho ta1~raying producers Of tho Union.
nf tho United stncs llaa been watched With tho moat
Lively interest w tho statesmen aud ltrsncers Of tho
e, h sssa Tor 0nn Of hs net e N .s
Atlarsic as ynu ara doubtless awasc IL duo to the pen
nfa leading Austrian ecouomiat. The prosperity Of
social aud financial condition Of tho modern world;
md you VIII periaps permit mo to saY before enter
sho aubicet, forced upon ,.o IN tho administration of
very considerable interests nt Of onterIrtso which
art Ieen muro or eHs tlrectr anccse from t1aao 10
speaking, therefore, aa busii'ess man 70 business
Tie instantaneous resumption of spcea payments II
te United States ~ 50 ias fr1m nenG mnts9r o. d
with tho abrone and safety by vrry sl-
le t tlos not nyoye aly diseoytr} u tbe
Representatives Of tho people, whenever they 8hAll
HsS ao 10 e1frt fs !sif ssue %t ,op n]ov mo to sct
!. NJ FIRST panrnsaf ..s. floS 10
U.s. uiat the bass ot ~ rehlnilon o. sEeeie payment
the nnqnestionasp sm @ natas!s1 pao9 @ efsit o
the United states Ihn poG!c sr'ds % 2, TUG united
Tor two good md sufficient rsasong Iho United
States Is iae ply useat iu"cf w mten n"n uaso pfe
c!so pcrio4 thirty Seafs} lor tho o. It's
public dcbt and fhs United states " tao olly uFcat
Power which, by Its Typographical position and the con
attton Of ~ ueaTess netghuofs ~ exempted from to
necessity Of 1naS'nE feeatsa toaus ior TUG niahe,
other statct by esea. htandng army Ilis neccs-
Europe.
II. MI SECOND PROPOSITION
S. that upon ihis bssss Of thu pubc credit Of tho
Uncl States nothing moro Is ncotc to bring nbo,,t
tho resumption Of spsclo paymena than snlple uct
TIC United States debt consists Of two main CATO
gories:
Funded dob.5 aud Per cent s. 900 900 900
------
Tota exclusive of minor ites.. 3s2 ooo 600
rae, If these ,t,ror3rs IN e,,a,ly y,,a 10 tha credit
Of us Republic, aid each must bo sacredly and
exactly disc,argcl. II, thcn, by an act Of Congrcas
4,n Tnoti,,n cif m ina farm n Surrcncy nntcs sfnul
In tTnnsfn1mei nto fun1ed tlebt ut i ner couf Tin
csnord Thc two caternrcs xo,li In ;uSu,eI into
s,,n 1he ransai At thn 1st ,sonM san ho tbe xa,p
III nv .ry1xn pnopos1Ttor
a. thai III, aoaIt sht sl.nntd ha trnueformed .nto
fn,ncti Ieht MT at its Assumed ya1a al ernrcsse
an tIe faco Of tho uotcs Int at te real yaiue IN cx
.a -. ~ -. 49, ,..n ~ az r,ter Il, III ~ ~.