The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1877-12-07

lawicSs incnrstons into our country from :hc
Mexican side have been cf zoo frequent occur
renee.
Orders were given for the utmost vigilance
on the part oi our troops for the suppression
of these raids and punishment OF guilty parties,
~ wen ar iht tScfpture ol propeftN sfoten
Tine Mexican authorities were Inv tied TO aiti in
the suppression OF these Inarsuders. This poi-
icy has had the effect somewhat To check III ase
depretntions Wtn an increased rorce and
the re-estaoiisbnneht OF several additional
posts on the Rio Graude. peace may be pre-.
served. Hc eoncurs with thc Secretary or War
10 recommending that authority be given to
recruit ali companies of infantry at least
fiffN men ana all batteries of artillery TO at
beast seVeHty-uve men. with power in cuiergen-
cies 20 increase To 100, AND the latter To l22
, men each, II" recommends the com pcteIrc-
vision OF army regulations. Touching the In
dim question. he saNS are now at peace
with all the Indian tribes and IL VIII he the OBJ
jcct OF his earnest cndeavors to preserve that
peace by u just and humane policy.
REPORT OF TIE SECRETARY OF The TREASURY.
WAsHiNcToH. Dcceur her 3,-Ir his report for
the year ending June 90, 1876, Secretary Sher-
n:an says The ordinary receipts amounted 70
t@uE OO0,fsb t2, and ordinary expenses tO fE5S,-
3iO,d7 t9; the residue applied to the Sinking
fund leaves deficit of s3.3ss, ,25j.5l. Both ex-
pe.SSs aHd receipts have oeen reduced in about
the same proportion. On basis OF the past
makes somewhat reduced estimates for the
present year, and recommends a further rcd nc
tion of at least 81 ll.G0n.ODO. In regard 10 specie
resumption. the Secretary holds that tht s9O,-
cD,VJ OF notes srill out Stuudiuy y.uunry Ist
ls,6 according To law viii he reasonable. The
Secretary ventures to express the opinion, that
the best currency Tor the pe0ple of ,ht. IniIe
states would bc Al carefully limited amount of
tnltcd States notes, promptly rcdecmablc on
presentation in coin and Summarized IN. un,n!e
reserves OF coin. aud supplemented by Il sys-
ten OF National Banks, oryhniZcd under geu-
cfal laws, Tree and open TO all. with power TO
issue circulating notes secured 10y United States
bonds deposited with the Government. and re-
d"cmahle on demand in Unitcd States notes or
coin. Such II system vii! secure To- the people n
sale currency OF equal value In all parts of the
country, receivable for all dues and easily con-
VertibIc into coin.
The question of the issue OF a silver dollar
Ior ciTcuin'lon as money tine been much dis
cusscd and carefully examined ny II Commits
sion organized by Congress, which has recon.
men'tcd the coinage OF the old silver dollar.
w IN such legislative provision as will ma intain
s i,s curfchn s value at par with gold its issue is
respectfully recommended. A gold coin of the
denomination of one dollar is too small / or cor,-
Nenlent circulation, while such a coin in silver
wOH!d be convenient for multitude OF daily
transactions, and Is in n form TO satisfy the mai
ursl instinct of JoHrding.
of the metals. silver is Of most general II So
Tor coinage. IL is part of every ,stcm OF
coinage, even IN countries where gold is the
sole legal STANDARD. Il best measures the com
mon wants of life, but, from its weight and
nnlk, - not a convenient medium in The la rgcr
eIchanecs OF commerce. Its production is
reasonably steady in amount. The relative
market value or silver and gold is far rnore
stable thAn that of any other two commodities
still, IL docs vary. 1t Is not i'll the power of
human la to prevent the iution Til. in
hcrcut difficulty has coup,.Ilrd All p,iious to
adopt one or the other a. the sn.t. stnn,isrd of
value, or To authorize an alternative siuuJa rd
ot Pilh'f' M 20 coin both metals a n arbitrary
standard, and to maintain one ~ par win the
other hy limiting ITS amount and legal tender
with the other.
II has been the careful study Of statesmen for
many years To secure n bi-mctaIiic currency
NOT subject to the changes Of market ynluC.
and 50 Justed thar both kinds can bc kent i'm
circulation together. ana Alternating ,vith rat n
other he growing tendency has been t.
ADOPT. Tor coin the principle ''redc. ruabijfy''
applied TO different forms of paper money
5N uniting tokens. silver and paper money to
the amount nee led Tor hnsines-. and proruptIy
receiving or rcdccnin2 ali HAT may at any
tune he IN excess. all these forms rn1ry can
be kept IN cIrcu!HtIOn III large amounts, at pa
win gold. In this way tokens OF inferior in
irinsic value are readily circulated. bur do not
htIfcciate bciOw the paper money into which
they are convertible. The fractional silver
com now IN circulation. .houEh the silver of
which II - composed IS OF less market ynIue
IMAM the paper money, passes readily among II
classes ot people ana answers all the purIuses
Tor winch It was designed. AMI the silver
HollHr. ~ restored To oar courage, would great
" add IL TIA" convenience OF the pcoplp. IUt
thiS coin should toe hjcVt the same. rule. as
10 issue ana conTcrtih!i!tN, rs other forms ur
money. II the market value of the silver IN 4
were itSs 'hnn that Of guid coin oi tn. same
nDmInHtiOn. Hud IT were i>SIrd in Unlimited
qInuittirs and made Il legal tender Tor al ichts
II ""uid dcmonctIze gold and dcpreciutc our
paper currency.