Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1877-02-10
SPECIE PAYMENT.
Message from the rrcSidcnt-Tf Currency
and Coin shOu'd ueHch Equal Sal.
ntS, u 1I',s Rr"nso.. AdviAahiE
O. DikeCL ItesmmptiOn.

The following is the presidents message to
congress on the subject of specie payments:
To the senate and house of representatives.
BY an act OF congress, approved January
"A, 1879, 10 rr0re Tor the resumption of spr.
Gle payments, the lst Of January, 1879, is
fixed as the date when such resumption is
to begin, 1t may not be desirable to fly an
earlier date when It shall become obligatory
upUn the government to redeem its out,
sanding legal tender notes in coin, on pre-.
sentation; but it is certainly most desirable,
and will provide most beneficial to every re.
cuniary interest OF the country, to hasten the
day when the paper circulation Of the com,
try and good coin shall have egual raIue, it
might GecOhie advisable TO authorize, or d.
rect the resumption,
believe the time has come when, by a
simple act Of the legislative branch of The
governments this post desi.abs result can
be stained. am strengthened in this view
by the course trade has taken in the last two
years, and by the strength Of the credit Of
the United States at home and abroad.
For the fiscal year ending June 30, 1876,
the exports OF the United States exceeded
the imports by Sl202l3,1O2, but cur exports
include $40 ,56962l of specie and bullion in
excess of imports Of the same commodities
Tor six months Of the present GsCsl year.
From July l, 1876, to January |, 1877, the
excess Of exports over imports amounted to
SlO,54l s69, and the imports of specie and
bullion Exceeded exports of precious metals
by S. l92, li7 in the same time. The actual
months. eyrnsiye Of Snec;n and bmIlion ,A
Amounted 10 SIf3 72- OIO ebowing for tbo
time heine tho occnm,,iatior Of s,9oo;. ,''I
LulIion in the cornt.v ororn,;,,c, 70 ,,o,.a
than 2E 0o0 Goa in addition ta r. n,t,,.ni
nroJuct of tboso n,etoIg fn, tha ,.i,,5
a totoI incrnosn oT ,,oiJ ,,,J IT, g;.
monthq mot f,r sbo,t of go ON ono +, i,
varv evident tbat nnIoes this ,,ra3t i,o4ooea
of nraniouS matalg nor no ,t;Iiga,; o+ L,,,,,
In sucb a way ne to mal,n il in snn,o ,,,a,,,a.
remuneratiya In boldare II ,nnst. saol, n r,..
eirn market as surely 1e vat,ld any, 'othon
nrnJ,,ct Of tbn yoiI or r,an,,f,a.',,,!. Sm,,
IegieIation which will leo,, on;,,',n,j' brli;na
otLn,no will in nv in,i,,,,,,,t l,,,, L.t,,,,
abort nr,cticaj rasnmption and Vii odj Ic
coin of the conntry tn ths nircnIatin,, mo-.
d;,,,r Tins eacurini, n LooIn,,, i,,ant;o,,
sounJ currency IN tbe ,,roat od,,a,,taI,a 0r
e,,srr 10 .itimate Lusinoss intorost NJ oot
10 nrovide for tbe rpgurntion of suacie
r4vruuts authorized tha iarratory o} tL,
treasury to issue hands of eitber o4 tho ia.
scrinti6ns named in the act nf congre.s @ an.
nroycd July 4. $50. entitled GAn act to an.
thorize the refunding of the national debt,
for mot less than mar in cold With tho nre.
sent varne of a. per cent honds in Tho
markets of tbr world. tbry conId no ey.
hanged at par for cold. tbns sfrnngtbeninc
tbe tTaasurv 70 meet tbe final resnmntion
and keen the excess of coin over the demand
nendino IFS permaneut use ne a circnIating
medium at home. All that would bs re.
nrirej wonld be 10 reduce tLe yoInmn of tbp
IrgaI tender notes in cirrnl, tinn. To ar.
nnInrli,h tbis | wonld suagest an act an,hor.
i,ing tLe secretary Of the treasury to issmo
fonr f9 ner cpnt ho2ds with forty ve5rs to rHn