The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1877-08-02

the entire debt for equitable revision,
which arrange in well devised series
OF easy annual payments, all at matu-
rity payable in coin aud bearing semi
annual coin interest"
Then, according to his figures, he
shows:
"This, as think viii appear, saves
the Government the annual payment
in coin of S44, 42l, 474.03."
We have not space TO follow this up
but il will be seen that his PROPOSE
ton, then laid before the public, is
adopted eleven years after. The
whole series of articles, in the light
of subsequent experience, are inter-
esting, especially to those who have
given National finances study and
thought.
la connection with the scrap book
Mr.. w. appends the following conclu
sions:
Mr.. MURDOCH In renewing these
abstracts in connection with the ready
acceptance of the recent eighty million
four per cent. interest loan, the prac-
ticability of its adoption at the time
these articles were written, in 1866, is
most conclusivcly proven. The money
Of the country was then in the hands
Of the people, and especially the Ia
boring classes, then seeking places o!
safe and remnnerative investment, or
deposit, which is manifest in The or
ganization of ihe many savings banks
throughout the country since that
time.
1t would have saved the Govern
ment in TIE last eleven ycsrs five hum
dred millions of dollars in interest. 1t
would have placed permanently i'll the
hands of the people and the market
an annual equivalent of one hun dred
millions of gold, with reserve that
could not be exhausted. 1t would
have brought United States currency
to par with gold in less than twelve
months from its practical adoption,
which is specie payment, aud the only
resumption healthy prosperity OF
the country can hope TO see or it is
safe to accept.
The United States notes in circula-
ton to-day are the virtual issue of
stupendous United States bank. The
N,+;o,ol bo,ie ono no mara nor lase
than the fiscal agents of this United
States bank. They are controlled by
a well digested and efficient system;
extending security and convenience
to all classes and regions, and an i'll
despensible auxiliary in the bealthful
financial system of the country at
large. Is it not strange, in view OF
the actual capital that must be invest
ed in them, and the great service they
render the commercial world, that
they are made the subject of special
and most oppressive taxation? We
can see no reason in this except that
it has become popular in the short
sighted and vulgar mind, to tax and
enthrall money and monied institu-
tons. This is the most fragrant error
sane legislators ever perpetrated.
Money is as essential TO commercial
life and prosperity as air to physical
life and organization. The great
good giyer has placed no 1.-THE upon
this first and most essential of our eX-
istence. If we would have this great
first essential (money) most healthily
applied 10 our commercial life and
prosperity We should seek to make ii
free as our native air. 1t should be
disenthralled by wise legislation from
every embarrassment except its IRE
vokable excellence. That it may be
made abundant. When made album
dant it viii be cheap. When cheap u
viii promote manufacture, agricui-
ture and commerce, and when lrfe-
yokably good il will stimulate SOUND
and enduring prosperity.
These four per cent. bonds are first
step in what should be u wisely ad-
jusied system of public finance AHA
leads the public 10 hope for an early
future contamination of judicious
system cquaiing United States cuTrell-
cy with gold.
VIC. WooDMAN.