Orangeburg times. [volume] (Orangeburg, S.C.) 1872-1875, 1875-01-28
RESUMPTION. i, b !


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q {t KEStl W fJJ;IltN 50
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1Ato 1Ato = llutAce AhtsAce Dill Dill ApproVeu 70 " tile
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Senate bill No. 10 "A, to provide for the ro-
sumption OF specie payinents, is before lfio,
9nd TINS day rceelyes my sigIatureo approval.
L venture upon this unusnal method OF con-
vey1ng notice OF my approya TO tho honHe in
which the measurs originated, becauee toE its
great Importance to tho country at large, In
order to suggest further legislation, which
seems to me essential to mako this law effect
nal " - p plect OF. con- THAT q
meA5ure kas DecoiAe q faw which fike8 the date
when specie resumption shail commence, and
m9phes Y an Obligation on tl,a part fon congress-,
prove necessary 70 redeem this pronisel I'd
this end respectfully call your attention to q
Few suggestions:
i. Inc necessity for increased revenue TO
carry out the obligation OF adding to the Rink7
ing FUND annually ono per cent The interest
on the public debt amounts now to GS4, 600, 900
per annum, and to carry out the promises OF
tins mcasure TO redeem under certain contin-
Ssncies $50, 0O0, 600 of tho present legal-ten.
currency now In circulation. How to increase
tho eurpl!is revenue is for congress to devise.
But will venture to suggest that the duty son
Yea ana CONGO might be restored, without per-
aneh,iy nmd thay @ enhancing the cost to consumer
On articles speeiied II, tha law ~ Inne taya
be repeaIed TbS annnis ~ zoo .,,I an9yas, e,
aireadv on hond ~, Az IfI,ta 20 een au
in ali prohabiItv ba ndvaIc.S +, n,,;"o ~,
a1optinr this msasnSa h,;t ~ 10 h. ~
the adoption OF freq entry to tbesat aTt;slea of
necessity did not cheapon materiaiiv. or an.
hsnce the n.otfts ~ tba cnn,rr NJ
them. or of middlemen Of tSnsa c5nIp,t,jss 1vtb
have the exolusiye traf1e T., thnn, -" 49, ~,
a Tho first esrtion ~ tLa Iii r., ,oa,i I'll, ~ "A ;arI a.
sideration. trovides that ti,e lfrscs;dso al.
currency shaii ba reiaamed l., s,,o.
RAPIDLY ma nracticabIe ssar, ~ i =,
pfeyentipg the ,fiuotnationr, :, in = the tEa,nnnof
paper currencv nr tba ooid nra.;,,,, 1,o,,s,l
ing over ten per cent. aboyo fi1a i1
use. It is probable, almost certain; that ail9er
|. was put ont. until chance woniS becoIna az so
scarce aa to make.the nraS,i,,n, -, ~ sSns ~
the premiun, ON poid nr snfi;cien.Iv, h;nj, ~
mako it no longer profitable to bIy for exoort
thereby ca11sino 4 d;rect ioss 10 the comn,rnity,
at largo, and great embarrassment tn .tradcy
As the present law coinmnnds finnl rest,,nrf ioTn
on the frat of JanI,a aSrs 1870 and 10 tn e,htJ -
ceipts by the treasury are Iaroer than tSo s,oid
payments, and the c1rrency receipts than Cur
rency paymerts. thereby maxim q IN thio ssIn,
OF gold necessary to meet curre1t os,rrency nr
penses. it occnrs to me thaf thess d;SinyItieai
might be remedied by authoriying tbe, 5secras
tsry OF tho ~treasury to redeen,e IagnJ tandar
notes whenever presented i'm surna az not Iesa
tliaI, S1p pls md pul
"a i0a sots y, es,ta per cotAt. isH interest,",
az. a. tns .at9 OF 20 per cent. per annum, from
t;,,, ~ .Is VI 100 10 the date OF put
th;5 ,na,,!; .,s inM my operauof, ana diminishing
snit au Ha1.aL;. 81 ~ tle same lato until hnai ro:
S.a,,,, .;...a aS.nS 'no Iate oi Fremunm ucinhndcd
n,,a-,o'.to ~ s,io 10 INC interest amounts sto
rat df ;ntaroa, oio %sPq Pqt Geit. suSsest thlh
rono,, .t ~ .n;i ooon9so "9utu prinS cur
law 2or ~ s,aI M,a Soiu az tno oa:o nkea py the
nov .o,t .no -. nas n tosunipLioh,: Suggest ton
hoc,,,an II,,;ao o Pieiuh Pi? at tne beginning,
rotamtio,, ~ a;Iu suie ia'e WOULD secure 2thul
Tho nros;s;a,,a ,,e an, ~ tho Colhtry LOT ohanSc.
will Hrevamt Observation-Disclosures omI seo.ion oi tno hce
baus, tho transnn, 10 .; ootrS Laaue 10 OK
IL is nrcsnmnhIo ~. ~ T, .,a Will ,,,I susn law,
for mot r"nn;roI ' ~ u bH,a bei;,; Muuia pe cansu
mnrnoses Whon ,aua ua ioS,.ate at business
lhni,id phnppIidses, 3D. , Mnen large, amounts of coin
nond;n1,,, i,r'a an'n,. .he .seasury. corres,
bo N;tIdyo,r, "a, oi currency Wonia
snajc;ort str;nr,amn, -, ,e.N, 'uus Seustins
ontf,nw NJ cnit, ar,a 81 tt, S,S iSmoS " stop tle
rencv oI f;Yai Ina,r y. i,n. 1s cur
reached. Tn NV on;o;o,, h., IL so.u o, aaso ~
sucI n law bns;,opa a,d ,I; mS ouaS.nons 1i
revive. and tho boninn;u,, ~ ,ros..;ti. moatiu
on n firm, haa;, wo,II hIees .no,i,pU pU.its,
means of incroasinn liza rn,,o,r,o ,1,. Unel ..
surrested should 1rn,,,hIv In do,,;sn .i, thHs9
also other legislation. in fact Io carry on. tl,a
frat sec,ion ~ tio ant ~ Gu. 4ut ine
that fixed bv law f"r mai snei;o piioa UvS4nu