The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1876-12-07

enactment was hailed, looking to the con-
summation of an exigent measure OF pubic
necessity, was modified only by an apprehen-
sion of the possible inadequacy of It's terms
TO accomplish it's end. A return to tho con-
stitutional standard of values at any time
will doubtless, to some extent, involve
"a reduction IN nominal prices, and
consequent contraction of the volume
of currency, but this is not of itself neces-
sariIy an evil and, if it were, it is an evil IN
cident to vicious system, not cured by the
continuance of the evil, while the measure it.
self is demanded by the highest economic con :
siderations and principles of honest dealing
among men. Besides, the troubles likely TO
grow out of enforced resumption are believed
to be greatly exaggerated Restoration OF the
constitutional standard of values by resump-
ton, and the extinction of irredeemabie notes
current as money, and the enforcement OF
payment in coin, on demand, of the national
bank notes treated as the equivalent OF
money, are obviously alike of national oDll-
cation and public necessity. The suspension
was the act of the National Government,
and to the National Government the people
properly look to take the initiative In
resumption. Having, under it's authority TO
coin money, assumed to regulate the currency
of the country, and as the States arc inhibited
ssto make anything but gold and silver coin
tender in payment of debts, and, ss irredeem-
able and inconyertible paper currency ID essen
TALLY repugnant to the principles OF the con-
stitution and the traditional policy OF the
American people, it is obviously incumbent on
the Government to maintain and preserve the
money standard of values Of the constitution,
and to enforce the obligation OF payment IL
coin on demand, at the option Of the holder OF
all paper money.
ISSUE OF SILVER COIN.
Immediately upon the passage OF the act OF
April II, 1876, the department., through it,
| several. independent-treasury offices, began
to issue, in redemption of the outstanding
| fractional currency, the subsidiary SILVER which
had been coined under the authority of the
Resumption act of January II, 1875. To
further relieve the pressing demand through
| out the country for money of small denomina-
! TONS the silver coin in the treasury, previous
to the passage of the act above mentioned,
was also issued in payment of currency obi
cations of the Government.
Under the authority for the issue OF
silver coin granted by the act of July %, 1876,
the department, in addition to redeemine
fractional currency, whenever presented fol
| that purpose has also issued silver coin IN
exchange for legal tender notes as rapidly as
the coinage at the minis would permit.
| From the date fret mentioned to and IN
GLIDING October 80. 1876, there has been is
sued of silver coin, as above stated, $22, 096,
712.15, of which amount there has been issued
| for fractional currency redeemed and de-
stroyed, 81, 1858 ,259 43.'
The demand for silver coin for circulation
though growing less urgent, still continues
fully equal to the capacity of the mints tt
supply It. Until this demand shall have
ceased, the coinage Will be continued as rap
idly as practicable, to the limit authorized by
/ law.
/ EXPORTS AND IMPORTS.
The coin values of the exports and imports
of the United States for the last fiscal year
as appears from official returns made to anc
compiled by the Bureau of Statistics, are as
/ follows:
Exports of domestic merchandise 1925, 582 "a
Exports of foreign merchandise 1882, AZ
Total. s%ofO,oofsoI
| Imports of goods. 4oO, f41, ~
Excess of exports over imports. ......$ 79643, AZ
For the fiscal year 1875 there was an excess
of imports over exports amounting to $19, 562,
| 725, showing difference OF $99, 206, 206.
Exports of specie and bullion. ......S So ,3O
Imports of specie and bullion. ......... 1S,9S668
Excess of exports over imports. .......S 49,
Total excess of exports of merchan-
disc and the precious metals over i'm
| ports -pAGO, AZ