The Jasper weekly courier., 1876-08-18

legal tender notes OF the United
see 81 be Asslslni gsfp9n Treas9Te1 cy Of NSr
York. IL authorizes thr secretary % prepare
and provide for such resumption oi specie pay
ments by the use Of any surplus revenues not
otherwise appropriated and by Issuing IN his
discretion certain glasses Of bonds. More than
one and a half of four years have passed. Con-
gress and the President have continued ever
since t0 unite In acts which have legislated out
of existence every possible surplus applicable 10
this purpose. The coin In the Treasury claimed
10 belong 70 the Government had on tie Both of
June, fallen 10 less than sf5, ,tOO,oOJ against
go 900 ,OOu on the lat OF January 1875, and the
availability Of part Of that sum IL said % be
questionable. The revenues are falling faster
tnan the appropriations and the expenditures
are reduced leaving the Treasury with dimin
ished resources.
RErRoGRADE Foley.
The Secretary has done nothing under
his power 10 issue bonds. Tho Legisla-
tive command and The official promise
fixing a day for resumption have been
made There has been no progress; there have
been steps backward; there is no necromancy IN
the operations Of the Government the homely
maNims OF every day life are the best standards
of It's conduct debtor who should promise %
pay loan out Of "A surplus income, yet be seen
every day spending all he could lay his hands on
in riOtOus living would lose all character for
honesty and veracty. Ills offer Of new prom
lee or his profession as 10 the value Of the old
promise would alike provoke dcrisiOn. The 81
Louis platform denounces the failure for eleven
years 10 make good the promise Of the legal ten
der notes II denOunces the omission % aCcumu-
late any reserve for their redemption 10 lie
nOunces the conduct which during eleven years
of peace has made no advances towards resump.
tiOn, no preparation Tor resumption, but instead
has obstructed resuu ption by wasting our re-
sources, and cNhausting All our surplus Income.
and while protesting 10 inten a speedy return
% specie payments has annually enacted fresh
hindrances thereto, anG having first denounced
the barrenness Of the promise OF day of Tesump-
ton IL next denOunces that barren promise as
hndrance TO resumption. IL then
demands It's repeal and also demands
the establishment OF ludiciOus system OF prcpa-
ration Tor resumption. II can not DC doubted
that the Substitution Of a system OF preparation
without the promise Of day for the worthless
promise OF a day without "A system Of prcpara-
tion would be the gain of the substance OF rcsump-
tion IN exchange for its shadow, nor is the de-
nuncatiOn unmerlted of that improvldence which
in eleven years since the peace has consumed
a. 5OO, 600 TOO, and yet could not afford 70 give
the people a sound and stable currency. Two
and half per cent. on the expenditures OF these
eleven years, or even less, would have provided
all the coin needful 70 resumption. The distress
nov felt by the people in all their business and
industries. though II has its principal cause In
the enormous waste OF capital occasiOned by the
false lcies Of our Government has been great
ly aggravated by the mislnanagemeBt of the cur
rency. Uncertainty Is the prolific parent of mis-
chief IN all business. Never were its evils more
felt than now. Men do nothing because they are
unable 10 make any calculations on which they
can safely rely. They undertake nothing, be
cause they fear a loss In every thing. II they
The merchant dares not buy Tor the future
consumption OF his customers The Danufactur-
or dare not maze fabrics which may not refund
his outlay; he shuts his factory and DISCHARGES
his workmen. Capitalists can not lend oa secur-
ity. They consider il unsafe and their funds lie
almost without interest. Men OF enterprise who
have credit or securities To pledge VIII not bOr
row; consumption has fallen below the natural
limits Of reasonable economy. the prices Of
many things are under their range In frugal
specie payment times before the civil war; vast
/ al lie in hanks "A
and a half ago legal. tenders were 4 their largest
| volume and tsclve millions since retiTen have
/ been replaced by fresh issues OF fifteen millions
| OF bank notes. In the meantime the banls have
been surrendcrng about four millions q month &.
because they can not find profitable use for 70
\ many Of their notes, the public mind viii no
\ longer accept shams; il has suffered enough from
! illusions. An insincere policy Increases
/ distrust; an unstable policy increases
I uncertainty; the people need TO know that the
I Government IL moving in the direction Of ulti-
mate safety and prosperity, and that it Is doing
| 80 through prudent, safe and conservative meth
ods, which will be sure 10 inflct no new sacrifice
| on the business of the country. Then inspiration
/ Of new hope and well-foundcd confidence will
| hasten the restoring processes Of nature, and
prosperity will begin 10 return.
/ The st. Louis Convention concludes its expires -
| sion In regard to the currency by declaration of
It's convictions as % the practical results Of the
| system of preparations II demands. IL says
/ 1--WE believe such system, well devised and
above Nll intrusted 10 competent hands for reNecu-
tion. creating at no time AN artificial scarcity of
/ the currency. and at no time alarming the public
mind into a withdrawal Of that vaster machine
| Of credit by which - per cent. Of al business
| transactions are perfOTmed-a system open O.
I the public and inspiring general confidence
from the day OF it, adopuon-would bring heal
inc on it, wings to all our harrassed industries
| set in motion the wheels OF commerce, manufac .
tures and mechanic arts; restore employment TO
! labor and renew in all Its natural sources the
| prosperity of the people" The Government of
The United states in my opinion can advance TO a
| resumption of specie paymehts on its legal tender
1 notes by gradual and safe processes, tending 10
relieve the present business distress. IL charged
by the people with the administration of the EN-
| ccutive Office. should deem IL duty 80 20 exer-
else the powers with which u has been or may
be invested 10y Congress as best and soonest 20
conduct the country 70 that benehccnt result.
The convention justly afirms that reform is
! necessary in the civil service-neces-
sary 10 it's purihcation; necessary TO
its economy and it, efficiency, necee-
sary IN order that the ordinary employment Of
the public business may not be prize fight at
the ballot box. reward OF party zeal instead OF
posts OF honor assigned for proved competency ,
| snd held for fidelity ia the public employ. The
| snvention wisely added that reform l. neces-
sary even more in the higher grades Of public
service. The President. Vice President,
Judges. Senators, Representatives and Cabinet
| officers. tisrse and all others in authority, are
not private perquisite; they e a public trust
Two evils iniest our oflic al service OF the Fed
eral Government. one Is the prevalent and de-
moralizing notion that the public service exists
not for the business and benefit OF the whole peo-
Pile. but for the interest Of Office holders, who
are in truth but the servants OF the people. I'm.
der the influence Of this pcrnicious error public
emplOyments have been multiplied, numbers
OF those gathered into the ranks OF
Office holders have been steadily increased be-
yOnd any possible requirement Of public busi.
ness, while inefiiciency. poculation, fraud and
malyersation OF the public funds from the high
places of power 10 the lowest have overspread
the whole service like n leprOsy The other evil
L. the organization Of the official class into body
of political mercenarics, governing caucuses,
debating nominations Of their own party and
attempting {, carry the elections Of the people by
undue influence and by immense corruption,
funds systematically collected from the salaries
or fees OF Office holders. The official class IN
other countries, sometimes by its own weight,
and sometimes in alliance with the army, has
been able % rule the unorganized masses ever