, 1876-03-08
PAYING DUTIES III gREENBaCRB,

ton. But the end Is not Jet.
"-
PAYING DUTIES IN GREENBACKB.
There can DO little doubt that tho most
ignorant man in the United States Senate is
0lr. BoaY, of Missouri. His panacen for
hard timos consists Of two prescriptions:
First, to water tho cusrancy up to $3.50, ,000,-
900, which would require about $3.50, 900, 900
moro legal-tenders to be issued, aud TINT, Of
itself, would havo tho elect OF reducing tho
value Of the currency about 20 to 25 per cent
below what 1t is now, for in proportion as
tie quantity Of iretloenable notes aro in
creased their purchasing power is diminished.
Tho second prescription is to receive groeu-
backs in payment of duties. "Dy doing
away with the large dernand for gold to pay
duties, amounting annually to between $780,
coo, 600 aud S175, ,oo0, 900, and creating q de-
1nand for precisely like amount Of legal
tenderB, tho difference between the two would
soon disappear" says Boor in his speech.
We have expressed tho opinion that ho is tho
biggest ignoramus In tho Senate, clBo he
would not stand up in his place and utter
such absurd nonsense. At present tho i'm
porting merchants purchase with grconbacks
from tho gold-brolkers tho necessary amount
Of coin with which to pay the dutios. II tho
Government accepted greenbacks for duties,
il would have to buy the gold from tho brok-
ors with legal-tendors, instead of tho n,er-
chants doing 1t, and how would that reduce
tho domanl for gold or tend to appreciate
tho value OF greenbackB? The employment
given to tho greenbacks would actually DO
less than now, as We ahall proceed to demon
atrate.
BY Doox'a plan the importing merchants
would pay grocnbacks to tho Government for
duties to tho amount Of aay $150, 900, 900 in
tho courso Of n year. Tho Government, as
fast Us it received tho notes, would sell thom
to the brokers for gold, obtaining gay 81 per
cent. or 9l.o, 500, QUO, being o loss Of S2aa,-
600, 1000 Of rovenuo. Tho present way is 10
require tho importing merchants, instead of
tho Government, to soil grccubaclsa to the
brokors for gold, and pay the snmo into tho
Troas,ry for duties. With gold ut liz, it
takes sire, ,010 Of greenbacka to purchase
tho requisite amount Of coin. This the pres
ent plan gives demand for tho uso Of S322, 500,-
600 moro greonbacks than would RoaYA p1an.
SO fnr. thcn. from his acl,o1uo oddinn to tho
usa ct croonbackg, it would diminish such
use to tho cxtont OF saa, coo, 600 pcr aunum.
md Mt Tim same tiu,o dcnriyo thu Govern.
mont NJ II mr. ccnt NJ thu rovonua Il oov
derives from duties, thereby leaving n deH-
cheney Of moro thnn $22 2,O00 900.
Tho Government requires about $3.50, ,o00-
900 q year Of coin for the payment of interest
=, ,o1,t anil tha e;n1;no furd ,vbotoror
a,7 :. -o.o;,,oo fro, d,,t;es T., ovooos ~ +,,;n
Co., o a ao1,s ~ rroonhoc,,a on5 novo t,,o,r,
49, 49,, ,or o~ron.oa trhia oivoa m o;iaitiona1
s'..,a,,,ort ~ ,o,o1 to,,3or noto, -, ,,.h:.,,
49,, ,,o,,11 Ia donr;vod hv no,v,a NV
~ .horo "a vot arother mi vorv sar,or. [
~ s,s,,,t;n1 ~ - ~ .onona 80 ~ .h;a s,,1r - s,'a
oosaor ~ uOI5 pnl1;on :" no nvsros -raa
oo,.o1 orr n,nor cnrro,cv In. = ,,r~
s,...;,,, .,a-,o. nsoo,,n1,, o,,,o1 =. ,.a ...1,1
s,.luo trho ;r,r,r,,n, r,oro,,.,t, o,o oon
tinna,,v nnrcbas;nc co1d for dutiea NJ lin
vorv ,cvast n,lco IN cpocnbocka flint t,,ov con
oot n Thov atu1v tho no1d mor]tct with tho
Utmost oso;,1,;t,, md ao,,o,t,,do rb,,, ,,so
| ovorv aov,.a,,,o oonns In oocnro ,lo l;a,o.t
nr;co ~ ,,o;r ,-oon,,o,,,, TI,ov o-o ,1,vova
s.beoran m t,o oo,d ,norLot toor,ro ,1oyr
;.a ,,;ce and st,fr,no tn al, t1,o;r nona~
money M near,v n, ,ar ,vith ,,o,a y. noss;;,,o
hoconzo Il Ia ,bn,- i,,taro,t .e xan,;7o H. 49,.
nricn for II flat con In o,,to;rod nho ,,o~o
III ~, ,ho ;,o,,n. -, .A1., As'o
oot the fower orcenbocts It taIos ~ nv w
t1ut;ea or 10 Inv e.chon1o nv fora,o,, [ ~a1,,t. ~
...a /.,v ,,a,,,,r osso.,I - ~
Lii liza rtonx con soo ill.,, 11s ~ :.
49, ro,,,o ~ mr. irrcdcoma,ia o,s"ss1.. ' 'ns =.
s;u.s;asa ~ H., t,,. ;,n,,or.,na s'sy 90
~ .,ta,ast xc;,. u con In rns,",, sa l." a' ~
c",nasa . no,s int tho Goyornmou. a,,an.a s...,