The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-14

sscontracton OF tee truth" But woat - tne
wha. for practical purposes constituted our currency
az tho end OF and Tor several years
i shall co mine myself the three years ana mali
ths, have ELAPSED since tho passage OF the Resumption
AGA January IA 1875, and 70 what 10 undeniabsy cur
rencv-nanlely grcenbacks and nstionai bank notes.
Now on January IA 1875, there were outstanding
or green bac in round numbers. SsSZ 600 0oo
On june J. oso'o'i'oAo
On January Il. 1875. there werc ouiss anding -
OF national BANK notes. SOL SOL so0
On june ]. 1875 Szz'oio 700
So that, since me passage Of the Resumption act,
The decrease greenbacks ana bank notes
$35 32 9S4, plus 500 $685. 4S5-has produced conrsc-
ton OF $64 46a ii 10 added the Sill soa
Of greenhouses on deposit IN the Treasury or the re-
sMaassSn from nt e ns. he
70 ovor ooo beias AZ me rate Of u
But ssy the aavooa.cs Of the Rsssnpt,ea aos th,s
payment su January !, is7s Now. fellow oilzons, i
another thisg to maintain ~ y " quite probable
,ha. the secretary Of The I.s,sary can o
s Sssa i R .s Rss az. ms. ss AZ q the
banks begin to pay specie or gresn6scks a. the
:aan sp.oo sss y could
why should the people b ground between the upper
ssa tbs neither ~ of sn 90 Ssgn sPeS hs
country would insure us conunuanceY On this quss-
ton the following facts are OF valus:- !.
Great Britain and France are pre-eminently The
hard money countries of Christendom. the iormcr
mas coin and bullion, about three dollars Tor every
dollar OF her paper money. OF cOurse she Gan main
tain spsce payments; at loast long she avoids
war. France has more metallic than paper money,
msnt Blu, the United States have, At least, inrss
dollars IN paper Tor cvcry dollar in CON- and even
little war or change IN the balance OF trade might,
OF their pretended specie payment According 20
the best Information l. eau obtain the product OF
our mines Is hksy TO fall oil. II Is probable That
the maximum product has boon reached, and that,
unless and valuable mines be discovered, there
will henceforth DO steady decrease OF production;
pul II the balance Of trade should con-
tinue in our favor, the inhux Of gold ana silver,
together with the product the mincs would enable
us to begin aud MAINTAIN specie payments quito AS
soon justice TO the debtor class would permit II
this De true why resort to forced resumpuonr WY
comparatively brieiy period, an advent that would
come naturally and unattended with severe dstressF
'st.A GOVERNMENTAL EXPENSES.
2 now turn 70 another topic, the expenditures of
the government which Too n;ie attention. has been
paid. propose to compare democratic expenditure
with republican expenditure In order thar you may
Judge which OF parties IL tho better sntsied
70 put II in another form, which party ought to DO
ned for dishonest ana wastcfui extravaganza
IN. las. ass.i year o. sSs s
OF the government Tor that year, exclusive OF pen
SONS and interest pubic debt were S5s 1855 49,
THESE expenses, stated In detail. were (omssing
For the War Department. 2o2
For the lndinn Department.. &v9i,i2l
For miscellaneous or CIVIL. ~, 97797S
Now, compare these expenditures with those OF Inc
hast year IN which the republican party had I'M
limited CONTROL the dse yeur ending June 80. 1875.
The ordinary expenses OF the government Tor that
year (sxcIusve OF pen sions interest the pub
l,c dsbt) were @l42 o73,632. being $S3 117.6s2 ia
excess OF the, last yosr OF democratic adminisira
ton; or. IN other WORDS the republican cK-
penditures were nearly two aud half times as great
as the democratic expenditures. But ~ DO SAID
that our population mach grcatsr IN 1875 than II
was IN $780, and that this accounts for tho increased
expenses OF government This explanation will not
suiIice The population In 1860 was 81 443 321 and
Tho expenditures wero ~ the rate oil 81 81 captd
In 1875 the popu ion, as nearly us IL can be est
matod was 4S, OOO 900, aud the expenditures were
sbe rute of S. per capita. FesANs A3laew1
ARatu IL may 10 SAID thxs the increase OF expenses
grew out OF tho war. THIS explanation viii not
answer In the figures ! have given add those
snail hereafter give exclude The expenditures oc-
casionea by the war namely, pensions, the public
dcpt and the interest thereon; ana cobfne my oon
pnrisou TO the ordinary expenses OF governments
namely, the cost Of tho war; navy Indian and OWL
dcparfm snts in Of peace The increase In these
departn,cnts Is shown in detail IN the Following
table, ''t' ~
1850 1875 Increase
War Department. sac 202 SAL 10 GAS $24 443
Nxyy........... l1,5l4,649 q, ,626 y9S2 977
Indian........... 2,99l,lI sSS4,t56 5,3Y3,5s5
Ncelaneous or t.r1aL-
CIvH... ZJ,SsttoSo tlOiO,fuS 4o,U5z, ga