, 1876-08-26

of SlOO,O0O,0OO Of bank noes. In the
meantime, banks have been surrendering
about four millions per month because
they cannot find profitable use tor so
many of their notes. The public mind
no longer accept shams; it has suffered
enough from illusions in an inslnccre pol
icy which increases distrust, and AN un-
stable policy which increases uncertainty.
The people need to know that the gov.
ernment is moving in Il direction of uti
mate safety and prosperity, and that it is
doing so through prudent and safe con.
servative methods, which will b. sure to
n lflict no new distress ON tn. business of
ythe country. Then the inspiration OF
new hope and well founded confidence
will hasten, restoring the prices ol MT
,urr, and prosperity will begin to return.
The st. Lous convention concluded its
,apression in regard to the currency bill
| by the leclart0n OF its convictions as to
the practical results of the system Of
preparations. We believe such system,
well devised, and above all, intrusted to
competent hands for execution, creating
at no time an artificial scarcity of currpn-
cy, and at no time alarming the public
mind into withdrawal of that vast
machinery of credit by which 05 per cent
of all business transactions are performed
IA system open to the public and in
spring general confidence-would, from
the day OF its adoption, bring healing on
its wings to all our harrassed industries,
lset in motion the wheels of commerce,
manufactures and mechanical arts, re.
store employment to labor, and renew in
hll its material sources the prosperity of
lhe people. The government Of the peo.
pie the United States, in my opiniun,
tan advance to the resumption OF specie
Aaymcnt on its legal notes in gradual
bld sak, processes, tending ID relieve the
resent business distress II charged by
BE- people with the administration of
Y Executive Office, | should deem it
n duty to SO exercise the powers with
bch it has been or may be invested by
ongrtSs 80 as best and soonest to con.
~ the country to that beneficial
hlt.
Tie convention justly affirms that re.
a is necessary in the civil service, nee.
ny to its purtication, necessary to its
somy and efficiency, necessary In or.
hat the ordinary employment of the
C. business may not be the prize
ht Tor at the ballot hox, brict reward
rty zeal instead Of posts of honor
ped for proved competency aud held
|ielIty in public employ. The con-
on wisely allowed that reform is
Fary even more in the higher grades
DI'c service, The President, V ce-
ient' Judges, Senators, Representa-
Cablnet officers and oil others in
N are not a private perquisite-
Ye public trusts, Two evils infest
icial service of the federal Govern
one Is the prevalent and dem0r-
notion that the public service ex-
pt Tor the business and benefit of
role people, but for the interest ol
po'ders, who, in truth, are but the
OF the people under the influ
tms pernlcious error. public EN-.
nus have been multiplied, and the
oi those gathered into the ranks
nolders have been already in.
beyond any recruitment Of the
BUSINESS; while inefficiency, spec
'saud and maladministration in
business, from the highes. to the
'aces OF power, have overspread
service Ikea leprosy. The
Is the organization of the Off.
into body of political merce-
p'ern'ng csucuses and directing
'iA''"nS OF their own party, and
ag to carry the elections of the
undue influence, and by an
Of'apt'Hg fund, systematically
''m tue salaries and fees OF
'e"' The official class in other
sometimes by iss own weight
,uss In alliance with the army,
.'s 70 rule unorganized masses,
universal sufferage; here it
!sa! grown into gigantic power
s,; n'as sound public Opin-