, 1876-03-07

Al tt@uS NJ No VIII E!NIGa
pront. Ii ,ooepooo Il silrer coin i hald b our
Rsss H.. 4 t as %
tiey would taks sioo, ,o0o 90: md no doubt enough
r ksn f 5saesn 81 y % sd1 '0n' eron'' h's
And how, ths anfs remaining question Is,
CAN We REDEEM on MA1NrA1r A. fAh
~ the LIST dAJ Of tannarys 1879, tbs United Dsses
Tho Amonnt Of ihs1n oatsanding to-day Is $s1ooso-
:o1 loss thoss lost and de.troytd. New, 1nany who
II. sss f. sss o1 d. %
toy havs counted IN tho number Of tons q gold that
VII ~ reqlsea 70 % 4. Tncy nsure ~ ths iatsress
sdditton 10 our annual nesest account. II ts net
necessary TO reply e such o1aasernstons: nor 'sit
brted R.stea potts would circulate 1t par in coin,
They eoui lha, he adn receivable foE customs dues
killer sss i Psss1. s fs. Il s , % r1,y Tay yo I'D
States. They could u supported by The power 70 sc
eeasso, - supported By ns sGos U sod 1sses1a ia tho
Treasury They would take tho place Of certificates
Now, air With all these advantages, With tho grow
ns wealth md , credit ef o's county, DO not bsaoxo
largely II my. reduced 70 fcep tlon nt pr viii. coin
t37,12o. .77a7s, md currency bsi.uce # ~ s2'.g
s t1,o ta balance is subject to overdue and sccruing
dcmsnds fully stated In recent letter Of thu Beere
dasanas .,"ays REMAIN no.iies IT, md. when pr
aentel, met by accruing rerenue. Suppose twhat
g. osiS ia IL coin ~ @ eef.e.tea ' md
5000 oov n eon. does ybody doubt hnt q VII b
denss @
doubt will be. ressued without o. With The lcgs.en-
their credit secured, esFabl,.e Il par in coin. ey
will mt only ctzeuiate IN Toxins and on tho Pacific
ieRG Il Z af as o S oGa 81
that havs commercial rel&tions with NJ,
Les IN p,raao tho argument. takiue the full burden
num-. Tho rate Of interest now In currency may DO
atate1 at per cant OF ~ pos cent In coin. Thus
ihe extreme burton of spsciq paynsens Rr, lie anf-
Ing fund In thrre years amounts to moro than the
soo go GOO yGS sre to tep H. rost,ve IT, savng
VI! msts oy Tie funding into ~ per cant viii 10
Cd. The saving 81 sl.ooo,ooo on tho appropriation
hil' ,ent 70 ~ WI eyer ths eost u.y 9 sents
en s nos s ssed e o S M K 3, &. s
stoa viii do It, Tho Increased value Of our tax on
wa,.k, .n toe.eco boi paid In coin will twice do It,
wngnE ia THE GOLD 70 COME FROM
to snab1s 70 roaumo7 Not only u the gold OF tho
world opan to onr competition, bus arc shc largest
year, anu ainRlc yeara product would than
gold nya greater than any othor nation. !" But thS
gold is e1porad." 10 It because Wilt not II
~ tho othct uati0ns TO. tre occupation hero on1
1t will remain hGIc and tho products Of fatms md
wnrhshops wilt 10 exported Instead. II Ia said We can
mako standard Of something also that 4 not oxrnt,a.
Sic 90 w San by cutting oussslvoa OF from she civ
And now. ill., 1t III turn frou, tho msiu question
and briefly. o1aminn tho Third question: Arc tho
zgencies and Meastos prescribed by tho act OF 1876
nUrFfCftHr ron THE ruErOsE I
fe.i bound To soy that 1t contains a.nls asancde.
iho addition ] q M single Provision by Congress- rho
rst suction Of tho bill ls limited to Tie redemption OF
fractional currency. Th.s as haye shown. s.n now ~
redeemed in silver without oss hut Tho actual coat
tha1 tAo printing Of ,lo fractional ourrency. Tbo
stopping oi The issue ct frae!ton7i currency wall
&C. sSs NJ Wea sa:s 1ho ThS 'sss s sso ssa IT, cur
rency only rcnemo II. and Il must b. replaced BY
another note within yssr; ss, the wisdom q thts
tho House unanimously refuse 10 print tho currency
and on,and Tie !0suo Of tho sityor coin, while two
prasticaSc, nhanl. 10 ~ now at spceo bssis Tor
WI ses oa i ia' s To- M
no.s.. s. 4 H. aad = { I'd bo WHOM Se appIossh
Uniicd Stale, notes for gola 70 sooa "a tic note viii
buy ~ much ~ gold.
But 1t i said we ON only hu, tic ailvsr bullion BY
issuing bons. That is tgue now. bocnuao our surplus
reyeuaa y not hrgs; but how will The United katea
rsy ia notes 1t cheaper rato7 ono million u
silver bullion to make ooo fu lubsdary siivcr
coin. When and how can tils operation Of paying
pono payment lad deatsiy Il has been sad that the
6per oent bonds authorized have bean exhausted. Mob
so Tin aH - plain aud expreas. and waa 50 desiane0
aud iuttldcd to authorize tho Secretary OF the Treas
sus son. ana dispose II At not esn than par IN con
6ta1es described in tho act" tor refunding the
pnblic deht Tho Itcnd!ng act to only referred to
Tor thu description nt tho bont.s authorized lut
kt1S tif1ttT fhn
''tnat alt provisions q law Inconsistent Win ta aet
are hereby rupea!etlr Tl'nr. not Gully To public
csodii, ss represented BY either Of tl,ros kinds of
honds T. ass s ,aoss bserns " sS yet cent H.
Is tho naouat That wl cnnhio him to execute tic law
rho only limit Of pr!eu ut which ho can se ths bonds,
The Eaoona section IL only material ii teuda to IN
ss tIo ~ e. s SI y s % ~ Sans
which ojlcnlatiu{ noto4 aY Do Issued but i, Issued
ii viii bo With fll snovc1go that In duo time tlsY
Aoldsr.
Then comes The proyiston-
THE VITAL p1oyIsIoN-
At. A. D. is7o, sho sscsssa.y Of ia rrsmnsy shail
retoan " coin Tic Uniied States icgaltendAr notca
thSn On ths tas gfs4ea91 fos
Aud to enahla ia Secretary o % Treasury 10 rso
psse und provide fos tho rsdcuption In this oct hu-
plus rurenus from tiuc 10 hno In tho Treasury not
othsFwtno appropriated mud to tssus sel and ispoas
IT, :. no; e.s thsa par I = oo ethsE of tAs s
and such Rre Tho powsts conferred.
Bir In t.a rcsleet, 10th the powers and dulles Of
der which aroat Drttaln rnsnnied mud Franco 10
ttsuuatng. Who can doubt t4at with Or ~thout
Bsofssary s s So VII oSoy I'd IL o.eeas is sW H.
power to propare for reaunpuou u broad tss.
undr 1f1H,ea duy7 7nna hons Hut trf&