, 1877-08-18

pfC,ss Will BIZ eItrtrii 10 all the !htcfnas 1tcvc-
rnvins Of EXPENSE.
TIE rorAL AsNuAL REDUCTION
made hae tnr in the rents ind by The United states
mcnt II ss, ai2 anl hs leases fall In. this rrlnc'
tton will he largely INCREASED.
larger public buildings wcso founded upon the
principle af The uoycrnmcnt paying to tic con-
tracora tic Gust Of the labor and material employ
tic n,e of Tho State, War and Navy pepar,n,csntts
fss e as - suepy o chi NJ Fr,ns the
tourt-1inuac 1t Phtladeiphia and the. castort.
House nt Cincinnati hare been modified IN raeh
iar cnnven arc 10 be- msr in The con.tnctr for ent
ftnno for thr II. lnhts Custon- aaonae mo ettsn'
sion Of the i'ost; ;ohice ant snlrl1Sa'Ysy NJ noa
tho Government
Still. MORE DANGEROUS Glass
Of payments from tho Treatur. was for old elsns
e'"a Se stassens Many Of tasse have Seen suspend
s. g.. n .Ss ass + r {Sea.S 4,e e o f S
Treasury large run,r Of money: and hope Can.
gres. n,sy 10 tlsposcd at IL next session. H. &c.
ssns. sn ess weS, SSS IN many sases EXPOSES tho dow
crnt,,ent 10 orcn mil Elhrtne fraud.
nny s'ea thf's x eatss 81 .a1
every lransh Of Tho 1o.srnmsns ana, no d0nb.,
s e.: g:u,ss ss' r's Ia. " ws: ns nraaest ss
n,ar wonld adopt IN his own. The Govetnmsnt
ought not 10 be niasst1ly and stfngy n public 1ls.
that il .ncs not fairly pay fns; bnt wastc OF pub
holding. but den'oral!zcs al who are engaRcd " II
Service upon the hns!e Of correct bnstncss.?r!n.
ctplcs will bring onF national expenditures within
ss sosieeo auS g besi s aS seasonasy
tsetlon to our own Industries. viii not cripple our
rantaga in foreign competition. believe tho
ADMINISTRATION Is rERrEcTLf w!LliSo
10 share with ConRFce n tho labor OF taess %.
Mncs, the largest reduction in the public cxpcudi.
turc has been effected IN the Reduction OF interest
The great body uf tho pnblc debt IL now payable,
at the pleasure Of the United States nt par In coit
A. this debt benrs m interest OF per cent. It
rutc, The old bonds cau lie pad un uud the reduced
interest lcsscns 10 that extent The burden of tho
dent. Prior so ths 1T Of March ny predecessor
co!u, The proceeds of which had bcon applied 70
thcrepcmptson Of per cent bonds. sinec the 1t
G r u. s esns aas9
amount Of U pas cent bonds have 6ccn paid on or
.Te p:a "a ard 4. ssfn Il n
toe os !sis yess az" and eaes year
in May lart became Fa.l4acd that the credit Of
the Government WAS 90 aayanced ind THO money.
market Was 10 favorable, that could sell al pne In
coin bonds Of the United States bearing Interest nt
per cent per annum. and. with tlg sanction Of
r. s :s SS sSs s osJ q pe! e w tss
bot,de, md substitutug4 per cent bonds. There
vas great Doubt amons banker, and business .n1en.
eena. q ~ pss mi lad 5 en.y svec
undertake tho ta.k. Germany, Iow ono Of tho
great Powors OF :he world, hAa rscensly offered
per- cent. The Russian Government, now under
The ,tfess Of war. ceiling III bonds at such a
rs ,lt lied ,stn. ysa o'ss a ,!us per cent:
Count. M tire.s Britain. the highest in credit Of n!
1T Ian:e discount, md now, although they aro =
u b per cent viii Win 5iss tsso!sele eoaai:
yzci throughout the world. money lying idle in
great hoarts, with orr credit untarn.dcd. our Na.
Wo4Ii sS WITH arsat resenrses, Believed that tho
public Interest and public duty demanded that tlu
effort to sell these ! per cent bends should 10
mlda. and that 1t would be ahccuAef4l
THE 0HEAT NATIONAL LOAN
was opened by popular subacrlpt!oIriH tho Unltet
ssatcs on The 19th II nne, and within thirty days
mud $lo: 200. 600 In Europe. making ST. *oo, o5o
sold. This sum. when paid and applied to the
purchase Of Q per cent bond.. WI @ maks q aanua!
81, 55i,, 600. The a4gtccate OF tho sarlns. from
both elastss "f @ 9ona, g., .nce ths 1t 1t of March,
Ne may confdently hope thnt. r. no adyer.e Is1ia-
Iatloh stial! oc nau tnat WIN lNlnInMaJ AnSct tRa
public crcdit me ent!fc ashouNt 81 ~ rnne aen
bearing interest," ~ ~ dn nse5 TX pes een, NV "
70 heaty w: ~. =. ht ~ - - n'a,,
deenian!e, % eoafeftoa 'nIo ooaas not '4eetaAhS
per cent .-.--..-...,.,,.-
sPEclE-rAIMEk1s-
Aud now, fellow. cltixcEs, this ornYs mo t0 the
question upon Which thcru l. NO much diversity ol
opfnion 70 many strange dcluaiuns: and thnt ts.
I thu question Of specie payments. What do VIC
mean by thia phrnso7 Il II that Wo arc to hase nc
paper money In citcnIatlon7 II 10. am Oh inuch
oppoycd to Il aR any OF yon. Ia It that We are to
Fttlra nur grecnhack- -cfcuntlony II 10. l nm op.
poscd to II, aud hnye often 10 sRid. What n,eau
| by spccle. payments II simply tAAe paper money
puVhI to ba made equal 10 com. that. wlcn you
recclyu it. IL will buy ~ much bccf, corn, cloth
! in. a. coiu.
! Vow, tte Importance Ut this cannot b. oveFestt.
| mated. A deprecated paper money chcAts and
Tubs every mntl who xuceives IT, Of portion Of the
reward or his labor or production. and, In al
tlmos. Il has been treated by statesmen - ono oi
| tho grcltr4i evils th1t can b0fait people. There
nro Times whan auch money ie unavoidable ~ dur
In. was ut great public caiamlty; but II has alMaYt
beer tho anxons care OF statesmen to fGturn aEalt
10 the ao.l standard Of coin. Therefore 1t II tha
sprcie Payments ur 4 1rccfe- e-atandar, IL prosted
/ by the Ersat body Of Intelligent men who stud,
these questions, ~ an Indispensable prerequisite
fos steady business and good tta.es;,