The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1876-02-10
SPECIE RESUMPTION.

Mr.. EDIToR:- The champions of hal
money" are ELOQUENT in their speeches and
editorials, on the profound bliss that is 10
come with specie resumption. They Lever tire
telling the shrlll OF jos and glow of satisac-
tion we are TO e1pel leLce when the Jungle of
the gold shall be heard again in the land
Still these most learned and profound fnan-
clers do not tell US where the gold with which
20 resume is to come from. Nett CIR do they
seem able to point the way through the dark
ness in which they shrOud the question, or to
suggest any method that shall dis pei the
gloom and doubt with which they leave.their
hearers and readers befogged.
The indebtedness OF the government is
about two billions two hundred millions ;
that of individuals, corporations and cLnpa-
MES, about eleven billions, three hundred
thirty one millions nine hundred and seventy
til ousaud five hundred and seventeen dollars
Making total of $l3 531 970,5i7. This at
the low rate of interest of eight per cent. per an
mum, would amount to 81, 082. ,641 The total
amount of manufactured - less spirituons and
features machinery $1,0l8. 104,6 5o. Of farming
implements 1886, 878, 429 of live stock 1867 648,
ono. Making a total of $6.434 956,540 Interest
terest maturing annually at the above rate 81 $685.,
354, 1850. The amount of farm products raised and
yearly turned upon the market 2447, 53S 65S. The
value of spirituous liquors annually produced
$36, 19l ,133. OF malt liquors e55706,643, The
taxes on all of the above amounts that mature
yearly, at five mills on the dolara Der Geo estl-
mates 112, 481 S17. Making grand total that an
nually accrues without Including interest and
taxes on any real estate, of 80. 272,4l5. The
amount of gold in the U is estimated at $40,
eco 900. OF silver $50. COO Total $72 100000
Being a little over too ssius on the dollar toward
the amount that would be necessary to transact
the business of the country for year. While in
some few trades and branches Of business money
could be used over twice ring the year. yet
there are but Few that will yield a return before
tie close OF year, and this would be overbaanc-
ed by the addition of taxes and interest on real
estate. The New York Tribune.a bull;0nist our
, nal, says government must have 10000, COO OF
gold on hand with which to resume specie pay
mert. If that be go, w. h dett of little over
two billions, then individuals, corporations and
companies at The same estimate, must have 81
520, 100000, making total gold necessary to
this fact we have only $72, GOO 900 gold and liver
on hand toward getting ready Tor those days OF
"bliss and yellow birds' Aud yet the advocates
of hard money, the learned democratic editors,
kind of money the deficiency of 81 800 600 600 is to
be? Can they assure rs 1T will be tOlerasle
wild cai," or decent stump tail?'' Money
that will be worth eighty cents on the dollar in
the state and worth from Fifty to twenty cents ON
the dollar out of the State
On the S1st day of August. 1865 there was more
government paper money af10at han in any other
day Of our history. That year here were $50 fail
throughout the Union with liabilities of $17,
| $4,000. Now, just as we are getting down to
'har6 pan''-ho1est money-the failures in 1875
were 774O: liabilities $aOl 100000 An increase of
failures of 1910 and of liabilities of 1888, ,000
Ana 1876 will record more than last year unless
the resumption act is repealed. France has been
accommodating gold for three years. yet she dare
s4Tot resume specie payment. 1t would canse such
| drain on the gold of Europe as to increase the
rate to such degree az to plunge France into
bankruptcy, or an overthrow OF the government
or both. What we heed is gresnbGcks,a full legal
tender, and interchangeable with bonds bearing a
low rate of interest.
The report OF government gold sales of certain
amounts from time to time is 6oG1. HALF of the
SO repcrl cd sales of gold are simply gold certif
Gates. For The week ending Sept IL, 1876 the
total of payments for duties at New York was So,
O32 certificates For the week en- ding Jan. 9Th,
1876, $l3l 900 gold and s. 40 A46 certificates.
close estimate would make gold $20,00U,O00 less
in the u. S. than The amount have given, say
about $52.Q00,O0O. And with this small amount
on hand and no possible way to increase it, it is
preposterous TO talk Uf specie resumption.
Bristol, Wis. G. /. s.