The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-12-08

! their use.
Second-The medium Of exchange in use
being of q fluctuating value, for after all 1t
is only worth just what it will purchase of
gold and silver metals, having an intrinsic
| value just In proportion to the honest labor
10 takes TO produce them.
RELATIONS OF LABOR AND CAPITAL.
A longer margin must be allowed for
profit by the manufacturer and producer.
1t is months from the date of production to
the date of realization. Interest upon cap
ital must be changed and the risk Of fluctu-
alton in the value of that which is 10 he re-
ceived in payment added, hence high prices
acting MS protection TO the foreign pro-
Queer, who receives nothing in exchange
for the product of his skill and labor, ex-
cept currency, good at stable value the
world over. 1t seems TO me that nothing
is clearer than that the greater part of bur
den of existing prostratiOn for the want OF
n sound financial system falls upon the
working man, who must after all produce
the wealth and the salaries of the man who
superintends and conducts the business.
The burden falls upon them in two ways
by the deprivation of employment and by
the decreased purchasing power of their
salaries. 1t is the duty of congress to de-
wise the method of correcting the evils
winch are acknowledged TO exist ana not
mine, but | will venture to suggest two or
three things which seem to me as a ALSO
lniclv NECESSARY ton
RETURN TO SPECIE PAYMENTS
The first great requisite in n return to pros
perltY Is that inc regal 'ehuer ciause 10 INC
law au,horiZihg 'hc issue oi currency ny
the national government
SHOULD RE REPEALED,
In take effect Ms to nil contracts entered
into after n dav fixed i'm the repeating net
not TO apply. however to payments of sal
aries by government or for other expendi.
tnres now nroyidcd by law TO he paid in
currency. In the interval pending between
repeal and final resumption provision shall
be made by which the secretary of the
treasury can obtain gold as it may become
necessary from time to time, from the date
when specie redemption commences. To
this might and should be added revenue
sufli GENTLY in excess of expenses to insure
an accumulation of gold in the treasury to
sustain redemption. / commend this sub
iect to your careful consideration, believing
that favorable solution is attainable, and
that, if reached by this congress, that the
present and future generations Will ever
gratefully remember IL as 'neir 9eIiveicr
rom rom .i'la.,uo'' vi e''i ""' "'Hs'"''
WIN resu'np''oh'
FREE BANKING
may he authorized with safety. n,v.n. suii
nrntect;on to hill holders ,yhit.', ,hpy have.
r,,dor oy;st;ng lave I,r.,t I wn,;,d r,.
rard fron hanlin,r 4. essential It would
S5,;xo ,-onor alas iiciiv IN ,ha currency a.
,,,oro cnrrorcy shonld he renuire1 for IN,
,ro,,eoct;nn ~ logitimn,o hnsinees nn,>
hanks wonld Inc started and in retnru
hanks would wind IN their business wher
it was found there was superabundanCt
of currency. The experience and Judg
ment OF people can pest decide just no"
how currency Is required lor the 'ransac
ton OF the business OF inc country.
unsafe 10 leave the settlement Oh 'nis ques
Ton TO congress- lhe secretary Oh lhe urea
sury OF thc executive. congress shoul'
make the rc9uia.lon unuer winch na'lN
may exist put snouiu not 'laNe ua''hi's
monopoly ny innit'nS .hG a'''oun noun, VI ~
ueenapie paper currency Una, 1""ii W ",'
thoriZcu, nuch Importance 90 1 a'1aen :.
TINS SUBJECT, ana 80 earnestly w l. com /;
e memo IL 10 your a..c,.lol', 'ia' 4 ~
prominence ny introducing '' ''c oo
ginning Oh this h'essasc'
/, OUR RELATIONS WITH OTHER COUNTRIES.
During the past year nothing has occur
red to disturb the general, friendly an(
cordial RELATIONS OF the Chiteu ota'cs VII
otheI PoMeis .,,. t,, OBSERVATION-DISCLOSURES Sc oo
nn UNI ;ts a;r,om,a,,o renrcsortat;vss os ala
" .,;t ,bo REPRESENTATIVES. of other counir,e,
Mi'n sne ,;.soo,ou', oo,J,,;o,, of iii ono,
s s q ','ao, ,ho iyr;,nd States tho mos
e s .,So r;oo and With feSy excention
- 80, ,otarn,,oo 10 horcofto, made M
e eI,. "o af an,, lint nf diffnroncr ~ l.
"Jiuatod
" TIE BELGIUM lEEAtf'
= The notice directed by the resolution {
n congress of June 18th, 1874, to be gwen
II terminate the convention OF July, II, 1877
o between the United States and Belglu'
l. nas u.ou Son ~, ,ho irst d,v of mi,
~ 1914. This convention seemed to give &c
~ tain Belgium vessels. entering the ports
. The United States, exceptional privilege
i winch are not accorded to our own vessel
- Other features of the convention la,
"a nroyed satisfactory and have tended to Il
~ cultivation of mutually beneficial cor
~ merciol intercourse and friendly relation
W between the two countries. hope tn
- NEGOTIATIONS which have been invited W
= resul, in celebration of another trea
q which may tend to the interests of bo
countries.
orp MI ,rtoxs WITH CHINA
,,;,,,a 10 lao friendly Duriny fine no
o. ool.'n .,' ~ ~ - Sae,;,;,;os hot,Seen Chi
C. yen , ano Se", , vi "nt of ,he LANDING
On anu yala" Sno",nS ~ tSo ;s,and 81 Err
r. ~. al,ieu ,oiIo upon as si mneos;ness
r. ny .ilc ia,.c' lns Snnrar ,ho d;f,icn,,;
CHI Is ealncs.p huie' so I'll, he aims,
o. nii1'"I a,'i 10 o" advoMoe of civil;zat;on
M those anes nnnires may moi he retarded by
ms tnesc empires may Nv, -. 20 ,ha ~,
nd slale o. "aa ~ uon ni,;rana &c ,ho init
lst .anen o' o,I'a v uitn o W renresrn,
res States. III TINS eApGul'i , o't i;,s,r,,'
rs; ,ses ~ ,nosc COUNTIES ,h nav covcrnmnnts
nd ca ca 10 impress upon '''o N"'''''''''
", oliha anu '"P"n
ng TIE FIRM INTENTIONS OF THIS COUNT
M 70 MAINTAIN strict neutrality in event
nv hos,iIiijes and ia carefully prevent any
90, na fraction Of law on the part of our citZe