The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1876-08-17
$3.50 per Annun.


as Intolerance to resumption. 1t then
demands its repeal, and also demands
| the establishment Of judicious system
| of preparation t5r resumption.
1t cannot be doubted that the substi-
tuition of system of preparation, without
the promise of day, for the worthless
promise of q day without q system of
preparation, would be the gain of the
| substance OF resumption in exchange
/ for its shadow; nor is denunciation un-
merited of that improvidence which; IN
| eleven years since the peace, has con-
sumed 81, 800, 100000, aud yet could not
afford to give the people a sound aud
| stable currency. Two and half per
cent. en- the expenditure Of these eleven
| years, or even less, would have provided
all the coin needful to resumption. The
distress now felb by the people in all
| their business aud industries, though 1t
has the principal cause in the enormous
waste of capital, occasioned by the false
| policies Of our Government, has been
| greatly aggravated by the mismauage-
ment of the currency. Uncertainty is
the prolific parent Of mischiefs in all
business. Never were its evils felt more
than now. Men do nothing because
they are unable to make any calcula-
tiOns on which they can safely rely.
They undertake nothing because they
fear loss in everything they would at
tempt They stop and wait. The mer-
chant dares not buy for the future cen
sumption of his customers. The manu-
fac turer dares not make fabrics which
may not refund his outlay. He shuts
his factory and discharges his work
men. Capitalists cannot lend on secu-
rity they consider safe, and their funds
lie almost without interest. Men of en-
! terprIse who have credit, or securities TO
pledge, will not borrow. Consumption
has fallen below the natural limits of a
reasonable economy. Prices of many
things are under their range in frugal,
! specie-paying times before the civil war.
Vast masses of currency lie In the banks
unused. a year and half ago the le
gal tenders were at their largest volume ,
| and the twelve millions since retired
4 have been replaced by fresh issues of
fifteen millions Of bank notes, In the
the meantime the banks have been sur
rendering about four millions a month
because they cannot find profitable use
for so many Of their notes.
The public mind will no longer accept
shams. 1t has suffered enough from illu-
siOns. An insincere policy increases
distrust An unstable policy increases
uncertainty. The people need TO know
that the government Is moving IN the di-
rection of ultimate safety and prosper
ity, and that it is doing so through pru-
dent, safe and conservative methods,
which viii be sure to inaiot no new sac
ri6cs on tie business Of the country
When the inspiration Of EeW hope and
well-fouRded confidence will hasten She
I r
perity will begin to return.
The St Louis Convention concludes its
expression in regard to the currency by
a declaration of its convictions as to the
practical results of the system of prepa
ratiOns it demands. It says: "We be-
lleve such a system, we'll devised, and,
above all, intrUsted to competent hands.
for execution, creating at no time an ar
tihcial scarcity of currency, and at no
time alarming the public mind into a
withdrawal of that vaster machinery Of
credit by whic b ninety-fve per cent. of
, all business transactions are performed
"A system open, public, and inspiring
general confidence would, from the day
Of its adoption, bring healing on its
wings to all our harrassed industries, set
in motion the wheels of commerce, man
ufactures and mechanic arts, restore
employment to labor. and renew in all
its natural sources the prosperity Of the
people.
Tue government of the United States,
in my opinion, can advance to a resump-
ton of specie payments on its legal ten
der notes by gradual and safe processes
tending to relieve the present business
distress. If charged by the people with
the administration of the executive
I / 4 - \
ercise the powers with which it has been
or may be invested by Congress as best
and soonest to conduct the country to
that benefeient result.
CIVIL SERVICE REFoRN
The Convention Justly afirms that Re-
form is necessary in the civil service,
necessary to its p1rifcation, necessary
to its economy aud its efficiency, neces-
sary IN order that tho ordinary employ
ment of the public busineas may nof'bs
"a prize fought for at the ballot box. a
4 brief reward OF party zeal instead of
posts of honor assigned for proved com
petenoy, and held for tidelity in the pub
lio employ The Convention wisely
added that "Reform is necessary even
more ia the higher grades of the public
service. President, ce-President.
Judges, Senators, Representation, Cabi-
net Officers, these aud all others in au-
tn 7Tity are the peoples servants. Their
Offices are not a private perquisite thoy
are public trust"
Two evils jnfest the ofical service Of
the Federal Government.
One Is the prevalent and demoralizing
notion that the public service exists not
| for the business and benefit of the
y hole people, but for the interest Of the
Ofhce-holders, who are in truth but the
servants Of the people. Under the in
fluence Of this pernic' c'Ous error public
employments have been multiplied; the
number of those gathered into the ranks
of ofice-hUlders have been steadily in
creased beyond any possible requirement
Of the public business, while ineficienoY,
peculation, fraud, and malEersation Of
the public funds, from the high place Of
power to the lowest, have oyerspread tho
whole service like lepFosy.
The other evil Is the organization Of
the official class into body Of political
merceaaries, governing the cau3uses and
debating the nominations of their own
party, and attempting to carry the cleo
tions Of the people by undue influence,
aud by immense coTruption-funds syste-
matically collected from the salaries or
CONCLUDED On fourth page }