The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1877-05-24

drawn from circulation. IL would still
further promote the circulation Of specie
10 their place. The large amount Of
legal tender notes now in the treasury,
being about $50, 600, 600, gives the
Secretary undoubted power to control,
to a very great extent, the denomina-
tions Of that currency to be kept in cir
eulatiou, and be will no doubt exercise
his discretion in way best calculated
to facilitate resumption. Silver coin
en- now be obtained, free from the ex-
pense OF transportation, BIZ dcpcSltIng
notes or fractional currency with any
United States Assistant Treasurer. or
national bank depository, or national
bank notes may be seat to the United
States Treasurer, free Of expense, and
silver coin will be returned therefor in
sums Of 81, 600, or even multiples there
Of
The effect Of the European war upon
the negotiation Of our bonds ana the cx-
Portation Of gold, of course, cannot be
anticipated, depending. as it does. upon
the extent to which o.her governments
besides those Of Russia and Turkey be-
come entangled in the quarrel. If Eng
land and Germany should conclude to
take hand In, 1t would weaken the de
mand for our bonds. but would in other
ways strengthen our ira de TO an extent
to more than compensate for the loss,
while our own production OF gold, wlIch
promises large results, would make mp
for the loss of the foreign demand, and
establish a home market for bends.
Business is fast adjusting itself to the
new order Of things. Prices of manu-
featured goods are getting down to the
specie basis. Rents are sympathinng
with the fall in goods. Expenses are
coming into a more close relationship
with incomes, and healthy and SAINT
airy system Of &c nomy, both public and
private, is everywhere exhibiting itself
With wise forecast of agriculturists
and manufacturers to meet the home
and foreign demand for their products,
steering nicely between oyorproduetion
and q iull supply Of every want of the
market; with the adjusting of strict
business principles to all our business
transaction; with fair. honest and up
ri ht dealing and jealous but liberal
recognition OF the rights of all classes.
prosperity will come aud smile upon us
once more. Fictitious values and i'm
aginary wants are to be exchanged for
1859 h~an"!a down to realities Politics
n trade should be abandoned, and
onI y looked upon as a science to Which
philoaopbic principles are applicable, and
not vehicle upon Which to ride into
Office. The business demands of the
country call for the talent that has been
most unproftably expended in machiua
tons and divices to secure political pre-
ierment, to engage in carrying on the
more real and substantial interests and
economies Of our great national common
wealth.
1t is both fortunate and proper that
the author of the resumption act should
BE- the one to whom by virtue of his
ohi e is iutrustcd the duty Of du Getting
the execution Of It's provisions. aud we
trust that the confidence of the Govern
ment and OF the reopIe-in his fnical
ability will not prove to nave been mis-
laced, nor our hopes Of a proper and
permanent adjustment of the currency
question be disappointed Busi-
ness aspects are ecoming more and more
hopeful, and the observance of rignt
principles, on the art Of the people. and
a steady aud intelligent euidpnce on the
part o! the Government, will finally
conduct us to the grandest results
State journal.