The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-02-16
Resumption OF Specie Payments Presi-
dents Message.

WASHINGTON, ID. c., Feb. 3.-The fol-
lowing IL the Presidents message 10 Con-
gress on the subject Of the resumption Of
specie payments:
10 hs Senate and House Of Representatives..
by act Of Congress approved January IA. 1875,
To provide for the resumptionof specie payments
the st Of January. 1ss9. Is fixed 40 the date when
such resumption Is 70 begin II may not be de-
sirable to tx m earlier date when II shall acfu.
ally become obligatory upon the Government 10
redeem its outstanding legal tender notes In
CON, on presentation. but u is certainly most
desirable, and viii prove most benz ncia oevery
pccuniary interest OF the country, 20 hasten the
day when the paper circulation " the country
and gold coin shall have equal values.
retain equal values, 4 might become
advisable "a authorize direct resumption |
believe the time has come when. by simple act
OF the Legislative branch Of the Government
this most desirable result can be attained. 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 M home and
abroad. FOR the fiscal year ending June 30 .ls7s.
the exports % the United states exceeded the i'm.
ports BY 10, 2l3.l but our exports include
81 o sreele ana Dnon For s q I'M
Of the present fiscal year. from july ! 1875. 10
January ISL, the excess 81 exports over I'M
ports amounted 10 1854, 3. and the imports
OF specie and bullion exceeded the exports Of
precious metals by 90, lfs IN The same time.
The actual excess Of exports over i'm
ports OF six months. exclusive ~ specie
Tor the Time being the accumulation Of specie and
bullion Ia the country amounting 70 murc than
these metals for the same period total increase
OF gold and silver for six months far short o.
go 900 q q. II a. very evident that unless this
increase OF precious metals can ne utilized n
home in such way a. {, make IL IN some
manner rcmuneratiye 70 holders IL must seek
foreign market. as surely 40 would any other
proauct q the soil OF manuiaclory Any legis
ihtion which would keep coin and bullion Al
home will. In my judgment. soon bring about
practical resumption. and aid the coin Of the
country % the circulating medium, thus eccLr-
ing healthy initiation OF sound curreNcy 70
the great advantage Of every legitimate bus-
ness interest. The act to provide for
the resumption Of specie payments anihcrizedihe
Secretary ~ the Treasury 20 issue bond. or either
Of the descriptions named in the act ~ Congress
approved july 4. $50. entitled IAN act % an-
thorire the rcfunding Of the national debt, - Tor
] not less than par In gold. With the present value
OF the 4 f. per cent. bonds IN the markets OF the
world. they coud he exchanged ~ par for gold,
thus STRENGTHENING the Treasury g meet MAJ
mand, pending ite use ms a circulating medium.
At home. AL that would be further required
would be 70 reduce Toe volume q legal, tender
suggest an act authorizing the secretary 81 the
l Treasury o. issue four per cent bonds with iorty
Tor legal tender notes whenever presented IN
sums Of hfty dollars. or any multiple thereof,
the whole amount Of such bonds. BIO ever. not
y exceed ~ increase We no ,saa,
they be available for deposits in the tniied
states Treasury for banking purposes under me
various provisions Of the Law relating to Nation.
al Banks. would suggest. further. that Ma
tional Banks be required 70 retain certain per
cent Of the coin interest received By them from
bonds deposited with the Treasury 70 secure
their circulation. would aso recommend the
repeal ~ the third section of the joint resolution
for the Issue % silver coin. approved july y,
lr7i, limiting subsidiary coin and fractional
I currency 20 sa0, utO, 900. l am satisfied tnat
Congress will enact soine such law ~ viii Az
ccmplish the end suggested, they v M give relief
70 the country instantaneous in lie elect. and fer
which they will receive the gratitude 81 We
whole people.
lsignedl u. :. GRANT.
Executive Mansion. February 3. lsss.
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Miss Emily Peyton has been chosen