The Russellville Democrat., 1876-08-17

, made no advances towards re
 sumption but instead has ob structed resumption by wasting
 our resources; and cxhausting al
 our surplus income, and while
 protesting to intend a speedy ro
 turn to specie payments has an
 nually enacted fresh hindrancc.
 thereto, and having first dcnounc
 etl the barrenness of the promis,
 of a day of resumption, It next
 denounccs that barren promise a.
 hindrance to resumption. l,
 then demands it's repeal and also l demands the establishment of { judicious system of preparation
 for resumption. It cannot be
 doubted that the substitution ot
 . system of preparation without
 the promise of t day for the
 worthless promise of day with
 out a system of preparation would
 be the gain of the substance of q
 resumption in exchange for its
 shadow; nor is the denuneiation
 unlncri.ed of that improyidence
 which ln ele~en years since peace
 has consumed $4, 300, 100000, and yet could not afford to give the | people sound and stable curren cy. Two and half per cent. on the expenditures of these eleven
 years, or even less, would have provided all the coin neediul to
 resumption. The distress now
 felt by the people III all their bus
 mess and industries, though it
 has it's principal cause in it's enormous waste of capital occa- stoned by the false policies of our Government, has been greatly az grayated by the mismanagement of the currency. Uncertainty is the prolific parent of mischief in all business. Never were its evils more felt than now Men do nothing because they arc una ble to make any calculations on which they can safely rely. They
 undertake nothing because they fear loss in everything. If they would attempt, they would stoE and wait. The merchant dares not buy for the future consump- tion of his customers. The man ufacturer darcs not make fabrics which may not refund his outlay he shuts his factory and dischayg- cs his workmen. Capitalists can not lend on security. They con sider 1t unsafe and their funds lie almost without interest. Men of enterprise who have credit or securities to pledge will not bor- row; consumption has fallen be
 low the natural limits of reasona, ble economy; the prices of many things are under their range in frugal specie payment times be fore the civil war; vast masses of currency lie in the banks unused; year and half ago legal ten ders were at their largest volume and twelve millions since retired have been replaced by fresh issues of fifteen millions of bank notes. In the meantime the banks have been surrendering about four million a month, because they cannot find 9 profitable use for so many of their notes: the public mind will no longer accept shams; it has suffered enough from illusions. An lnsin. cere policy increases distrust; an unstable policy increases uncer- tainty; the people need to know that the Government is moving in the direction of ultimate safety and prosperity, and that it is doing So through prudent, safe and conservative methods. winch will be sure to inhict no new sac fiiice on the business of the coun, try. Then inspiration of new hope and well founded confidence will hasten the restoring proces- ses of nature, and prosperity will begin in return.
 The St. Louis convention con cludcs its expression in regard to 1 the currency by q declaration of i it's convictions as to tie practical ! results of the system of prcpara- tions il demands. It says; We ! believe sucn q system well deyis- ed and above all intrusted to com petent hands for execution, crea | ting at no time an artificial scar city of the currency, and at no | time alarming the public mind | into a withdrawal of that yaster of credit by which 95 | per cent. of all business transac- tions are performed--a system open to the public and inspiring confidence from the day | of it's adoption-would bring healing on it's wings to all our ' harassed industries; set in mo tion the wheels of commerce, manufactures and mechanic arts restore einploymedt to labor and renew in all it's natural sources the prosperity of the people The government of the United States, in my opinion, can ad- to Il resumption Of specie on it's legal tender notes by gradual and sac processes, tending to relieve the present bus nnsS lioi~nAn If nLnrn.nll h,. H..