, 1877-05-12

| 1t Rhohld not have been taken, they intended
to furnish tho money to support tho Com
n,iaaioners, Secretary, md dependents who
will havc no occupation for two yoara, and
who ought not to bo employed cvcn II thora
were ything for them to do.
RESUMPTION AND THE ADMINISTRATION.
The rostponoment Of tho extra session Of
Congress till OCT. Ii will give tho Admin.
istrslion abundant time for framing policy
on various matters Of vital public importance
which 1t may bring to tho attention OF Con-
gress, and with which the time Of the na-
tioua1 legislators can be much moro profita-
bly, employed than in hot-headed debates
over tho old Hndworn-out Southern question.
Among these tho 'most conspicuous will bo
tho method Of resuming apecIe payments.
There Is on the statute-books 1aw passed
two years md half ago pledging tho Coy
ernment to resnne specie payments Jim.
l, 1870,-n year and a half from now. Tint
law contemplated certntn future preparations
! for tho retirement and redemption Of the
national currency, without which 1t will
necessarily be dead 1qtter. To pursue the
old plan Of purchasing outstanding bonds
will, &ha urr,,1ra ~avarrn on1 ,,,.,s,., th,,.
In tta oref1;t ~ .ha .;nt,n. f,,rd .as, .ae,,
.n,,.t,no -,.~o1. aaona,. III ' ~ 49," . ~
,or..t ~, H. t,nn5aa H.. =. /, ,.d 49, 80
Vii, ,rava ,ho oaovornn,ont ,1sss y, ~ ~,..,
ont tho term. ~ tho tav 1rn - ~. .,,,,a >
there have been no systematic preparations
| for resumption. It is evident TINT the pow
| ers conferred ty tho law upon The Bocrotary
ol,toInc,1 bv aoi1i,;r hon,1s mn, .hs ,,ovos,nn
Of tha s,,rn1ns -evsnro mt otl,arw;sa a,,n~r
nriatcd. will bo a,tooctbor ,noi1oono,o n cor-
strued In tho ,nt.past ~ tho 1o-orn,,ant
md sltooethtr nnv;so n ,;toro1lv followed
rba nroi.ct ~ accnmr,ot,r1 ssaso nm ooo -
mid in tho 11n,foa sta,ea Tro,e,,rv whit,
| tbe .naco of n vcnr md bolf world ,,nlo
rcanmn,,on Inn f1oar a 1r.nrv r. In t,o~ns
with nattence bv tho noon1c..for tha i,ro,,,
upon Tho cotfl markots a. tbo world ,ro,,l
orhause thc novcr In all hon,,u for oo,a
et mar 1on1 heforo tho roc..oo~~ .,,e"n.
cor,d be ohta;ncd md ,ro,,1d ran,,;ro = .ao'
rif,co Of millions nnon million. ~ ,1ol,or. l.,
discount md ;ntaraat II vii, ho nocoseory
| Than n tboro IA tho .,,,btoet ,r.o,,t,or :.
! mamma in Ism Tint conereea shall ,,as, ID
f7it;ona, Ieo;oiot,on od,,,tttnn ~ n,ha- ,7~ae
.rationa and II IL to .,,is tbst t,,a prsaidsr. r
viii nroha11v diroct ;.a a,fort,on vii, ~nn
on1ncndotions ~ IN vhat nss.nr.a n III.
{nf,onort ahor1a h, sdcoto5 Thox. a.a 49,.
savor,1 motboi1a xvb;cb ao,,,d h. ot,van..a.
ona1y comhtnad tn ths con,mo, ~ MI - ''-'
rrna,- the ,rosant e ,nm ,tn f,,,,.os r s,..ua
con rasnr, n en1d o,ora rh;a u ana,~ s
tha ,.w ~ ,a7a ,s,',ot s,,;..,s 49,, ~ ~ ~
s,,vor co,,, ~ ,ao,a.sa, ra,n. 49,, t ~. ua,s ~
.ha naiv 1..f, ,anmas - ' ~ aaa ,e.s so.u
cont the notiona, notcs w,,o,, ~ ~ .r,,',saf .1
=, ra,,ssn, md ~.ti-a MI. a,n.a ~ " H. etoes n..
srrn,ont ~ trnn, ,,a ~;,ta.. .ss, 49,. 49,.
sh,nao,. ...,.s axes,.... ~ ~...pA 1'1 .,.", o1'
-.a ~ ,ho .,.,a - 49, ;,s.. ' ~ ~, ""
ha,t. md ha,1 hssn 49,. ~ ~. $500. oea. :.
tbo rotion,s nrsor fr,, .nJ an,.i tasaI y.
v,tt, oo,1 l., 49, arana..,o,, -, ST.. ~
ia deii.r rh. 49, 49,, to~au, .es..., ~
i'm :. tn rostoro tha III, ,naans ~ -. s -aaaalp
ina a.. row.r,,r.nt na..1 T., 80. 49,.
no ,,sonfa sna-oso, Ssoa,a h. sF =. IT, - .n".
.na,d ~ H., n1-nos. -. .ha .,,,s .,.s ~
.-nmant rotas w.rs ;ssna1 pasn.a.,a,, - a wv. ~,
o,,Iv ha offsotad viii aa,a 10y .i,~.. 49,. ~ -
constitutional v,onov - IN 11n,.as e.a...
.na not viii ao11 .fon. n,,s ss.s,ss s' 49,
~o-a .na tho sc,na, 1;n,1ni.;o. ~ ssa-
tfon x,,1, i. iosson.1 ,,x 49,. 49,.
~ ,,,,, hx a..,a.,a. .sa ,..as', s@ ~
moro~ - 49, mn,,.a s,.tas ~ s ,'s
.,h,t u a1v.r. ~. .,;or :. 4o,o ',
what evervhoix s.,11 sunpnso, Il uax I'm M ~ , -
ve.r or oiohtcen montha ooo when tha snr.