, 1877-02-10

littlo Commissioncrship; they conl.l not
havo seriously hoped that tho Electoral
Tribunal would uphold 80 preposterous
quibbfc.
THE GREENBACKEns' MISTAKE.
Tie Chicago Greenbackers have been in
session. and, following tho cue given them
by Judge KELLEY in Washington, have de-
nounccel tho Presidents special message ,1rg-
ing Congress to take advantage OF tho ncar
aprroach of groenbacks to par with gold to
bring about specie resumption. Tho Ian
g1ago Of the Chicago Gro enbackers ia Us
follows:
Httotr<d, That VIC fcgarllthe schome roposcd By
President GRANT In his second special mcasage .
Congress, looking to the speedy resumption Of apo.
Gle payments. a. tho csowning folly Of the present
Administration put forth in tho interest Of tho
money powcr and calculated TO plunge the people
sltfl deeper into bankruptcy and financial ruin.
Rfso'rtd, That the only proper why Of placing
grccnbacks on q ras with gold ls to make them
fnl and legal tender, receivable for ali debts, pub.
itc and private.
From this VIC 1cnrn that the Grcenbackernnze
no longer opposed to the appreciation of tho
Government notes, rs they wero formerly,
but they differ from tho President Ms to the
means whereby tho grccnbacks con be made
cqual In valuo with gold. This concession
on tho part Of tho Grcenbackcrs is evidently
dno to tho logic Of facts which they could
no longer resist, Tho erccnback hns heon
increasing in value during the past year IN
spite Of oil their opposition. From being
worth 81 and So cents in gold. il
has become worth oi ennts. md H..
49,, - ., "'|1A te' s,As ~ .osah'Ps'oa
Tho philosophy of tho Groonbockera haa not
been as powerful NJ the philosophy of tho
themselves forced to abandon speculation
and resort to increased production. They
have also found TINT thoy can no longer buy
on unlim'tcd credit, and have been compelled
to retrench thcir expenditures within the
ctsh means they could control. Tho effect
haa been demonstrated by the radical change
In tho relative sales aud purchases abroad.
During the year Just closed tho yalue It our
exports Of merchandise waa $500. gel 783,
while tho valne of tho imports Of mer-
cllandiso was 3tcG ,dto, 7oC showing M in.
crease Of exports of $7o,G73,36l, and do.
crease OF Imports OF S7o,64o,o3o, az com.
pared with the previous year. But this does
not tell tue whole story. We exported coin
md bullion, Or l'nld on account nf balances,
the sum of siG, 35t ,4G5, and received In coin
mud bullion on account of balances :a4,47o,-
A91. Thta makes tho showing Of tho total
exports and imports for lilo year 1876 as
lows:
E1rosts m of msret,aHdsc @ u go !a3
- >0''' "'@ ""'''"''''''''' N..@ ~, ~. -oo
,r,s. vctai m cxpo.st. n7 :ia
Imports Of cufn aai bullion :. ...,.... W.s31 :Ny7
r,,,,, ,uao.,u 50, -. ,..
Value sxpotts oser Imports iS5. Ss5 i9s
Iu other words, the peonle of tbix co,,n.
try, on tho trnde Of the wear. haye ata5..
est. IL due them, which viii bo no.tlv mn.
ulicl on tho foreign Indebtedness that ba,,
previously accumu1ated and partly received
in coin. Hence tho ncccssity no longer az.
lists OF scntlinR American coin abroatl tn INV
differences: in fact. not only ;locx tbo ,,n1k
Of thu colu produccl IN tho country rcmn;n
here, but that previously sent abroad Ia In.
ginning 10 return, Tho Government credit
improving constantly. and tl,e Legitimate psc
of coin for cxnort Declining. co;,, anil f,ov-
crnmcnt notea naturally nnnror;tn,to IN
value Tho Government credit In. ham
improved ly . number of circumstances.
The interest account has been largely
REDUCED bv tbo erchonoa NJ hon,;s
t,~arino 4 nar .o1t IL. ,,.ss,.
bearing ucr rent inta,sst Thounh
Tho rcccIpta Of tha Governmcnt from
customs layo been notably re,1,,red tha ~.
ceipts f.o,n internal revenue hnyo becu In.
creased and tho expenditures eurtailca ~
that Tho reduction of The n,t;onn, d.ht ,;,-
inn tls seven months i,,st r,osed of tho nrcx.
ant ascal vear fas 5a7 77a, ~ within ~ n,,,,
ions OF tie reduction for tho corresr,ontlpu