The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1876-08-17

{ AIAI llOIA4Oi95 VI lNEil btiiiASict 80 III
\ 4diyiduals may, from time to tins
ldesire to convert for specie use, or il
order to lay by in coin their little
stores Of money. TO make the coin
'lnow in the Treasury available fol
Sthe objects Of this reserve, 10 gradu
s.ally strengthen and enhrge that re
tserye, and to providefor such othei
Iexcoptional demands for coin as may
farise, does not seem to me 4 work o
difficulty. If wisely planned and di
3rectly pursued, ii ought not to cost
Fan ysSaofifioe to?the business Of tht
lcoqnty,' It shonld tend on. the. con
.trafy to q revival Of hope and conf
Eyienee.
Tbe coin in the Treasdfy- on the
i80thoE Jane, including whatsis5he
9gall< CON eBgtitirateE, amounted K
near i1lll The toiirreat pl
fof otrseodhtry for eleven ears from
July LIST, 1865, to June 30th, 1876
averaging Aearly seventy-fve mil
lions a year, was eight hundred and
twenty-three millions in the whole
/ period, of which six hundred and
seventeen millions were the product
of our own mines.
To amass the requisite quantity by
interrupting from the current flow
ing out of the country, and by ac-
quiring from stocks which exist
abroad without disturbing the cqui,
Ilibrium of foreign market is result
to be easily worked out by practical
knowledge and judgment with re,
spect to whatever surplus of legal
tenders the wants of business may
fail to keep in use, and which in or
der to save interest will be returned
for redemption. They can either be
paid or they can be funded. Wheth-
er they will continue as currency or
be absorbed irto the vast mass of Sc
curities held as investments is mere
| ly question Of rate Of interest they
bear. Even if they were to remain
in their present form, and our gov
n rate Of interest moI,inr fbnm dc.
sirabIe rs Investments they would
soon regulate and take their place
inaI and 6ther cornorote and nrivote
bonds of which thousands Of millions
ovist on,onrms Tn tho norfact aoco
With Which, thew can he cbon~cd
rrnm on roncv Into Investment lies
the onIy dan Sor to he gnord"d 5goinst
in tbo 3dontion Of go1eraI ma9snres
intnndnd tn romovc = clrarly oscnr-
tainoI snrnlns tbot If withdrawn is
M Ionrnr = monentoxcess heyond
tbc wants IF hnsincss Even more
miscbieyons wonld he any moasnrc
which Affects the public imoainatiop
win tbe fsdr of nm annrebonded
scnrcjtv In a community where
credit IS ga, much useA Auctpotions
Of valuations and business ore reodi-
| ly causcd bv the temporary beliefs Of
men, even before those beliefs can
conform 10 oscertoined realization
The amount Of necessary currency
at n riyen time cannot be- detcrmin.
ed orbitrariIv and sbon)d not he rs.
sumcd on conjecture, That amount
| is subject to both nermanent and
tempororv changes An enlarrnent
of II which seemed to he d9roble
ILonnrncd ot tbe brrinninc Of thc
civil war, by n Substituted use of cur.
rencv in nl9c" Of Individual credits
/ II varics with certain statns Of busi-
ness, It auctuates with considera-
blc regularity Mt difIcrnt seasons Of
the wear, In autumn, for instance
when buvers Of rrain and other arri-
cultural products berin their onSro.
tions. tbdv nsnolIv need to borrow
conitol or cirrnlating crcditshvwLirh
10 make t6nir nnrcRoses ond want
tLase finds in currency canoble Of
heinc distrihuteJ in small SIMS
among numerous settlers, the addi.
tionoi usc of cprrcncv nj such times
is five or moro nor cent of the whole
volume, and if 4 surplus beyond what
is required for ordinary use does not
happen to have been on hand at
money centres, scarcity Of currcn-
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