Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-08-14
is ono thing to begin specie payment and it is quite

it ono thing to begin specie payment and 1t is quite
another thing to MAINTAIN it. 1t is quite probable
that the secretary of the treasury begin to pay
specie for greenbacks on January 1, 1879 and that
most, If not all of the banks begin to pay specie
greenbacs at the time but the great quest
remains, Gould c spec payment be maintain d?
If it could not why should the people be ground be-
tween the upper and the neither milestone in order to
begin specie payment somewhat earlier than the Con-
dtlon Of the country would insure its contnuance7
On this question: the following facts are OF value:
Great Britain and France are pre-eminently the
hard.money countries Of Chrstendom. The former
has, in coin and bullion, about three dollars for every
dolar of her paper money. Of course she
maintain specie payments at least so long as she
avoids France has more metallic than paper
money, and, When at peace, easily maintain
specie payment. But the Unite States have, at
least three dollars in paper for every dollar in coin,
and even little war, change III the balance Of
trade, might SO long as that disproporton exists,
Ike shipwreck of their pretended specie payment.
Accord ng to the best information I obtain. the
product of mines is likely to fall off. 1t is prob
abl. that the maximum product has been reached,
aud that, unless and valuable mines be dis
covered there viii henceforth be steady decrease of
production; bur, nevertheless, ii the balance >f
trade should continue in favor, the influx of gold
and silver, toge her with the product OF the mines,
would enable us to begin and maintain specie pay
meuts quite soon justice 10 the debtor class
would permit If this be true, why resort to forced
resumption? Why crush the unfortunate i'll o. der to
anticipate, by comparatively brief period, an adj
vent that would come naturally and unattended with
severe distress?
2. now turn to another topic, the expenditures
OF the government, TO Whicn TOO little attentlOn mas
| been paid. propose to compare Democratic ex-
penditure with Republican expend ture, III order that
you may judge which of the two parties is the better
entitled praise for honest and economical govern
meut; or, to put it III another form, which party
ought to be condemned for dishonest and wasteful
extravaganza.
The last fiscal year of Democratic administration
was that ending June 80, 1885, The ordinary ex-
penses Of he government for that year, exclusive OF
PENSIONS a. interest on public debt were S5S,955,-
81
These expenses, stated in detail, were (omittng
For the department ...........:. SIG 49, o2
navy ................. ll,ol4,o49
Indian % .....:........... 2,99l, III
q miscellaneous, or civil ......... 27,97,97S
Now compare these expenditures with those of the
last year in which the Repubca party had unlim-
tied CONTROL the fiscal year ending June &c. 1876 The
ordinary expenses of the government for that year
exclusive of pensions and interest the public
debit S142.O3,632; being $3.50, 1862 Ill excess
of the last year of Democratic administrator or,
ly two and half times great as the Democratic
expenditures. But it may be sud that our popuia-
ton was much greater in 1875 than in 1860, and that
this accounts for the increased expenses OF govern
ment. This explanation will not suffice. The polu-
otion In 1860 81, 4433jl, and the expenditures
al the rate of Sl.87H per capita. In 1875 the
population, as nearly it be estimated was Az
900, and the expenditures at the rate of
$3.50 per capita.
Again, it may be said, that the increase of ex-
not answer. In the figures have given, aud those
I shall hereafter give, exclude the expenditures
occasioned by the war, namely pensions, the lublc
debt aud theinterest thereon; aud coahne my com-
prison to the ordinary expenses of government,
namely, the cost of the war, navy, Indian and civil
departments In time of peace The increase i'll these
departments Is shown In detail in the following ia
Bile: