The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1879-12-05
Full Line Of
&c preslaenfs agessnge.

ne Ic-iOSut~ message opens Wltl
congratulating Congress on the sue
oessful execution Of the resumption
act, ana says:
at the time fixed and IN The name
contemplated by law. United State
notes began TO be redeemed In coin
Since The frat OF January last the7
have been promptly redeemed N pres.
entntjou, and in al bu-iues- tran,ac.
lions pulsic and private. 10 oil parts o
the country, they ARE received aud paid
0at as the equivalent OF coin The
demand upon the treasury for Gold
and silver in exchange for Uui-J
State notes has been comparatjycl,
small. and the voluntary deposit oi
coin aud bulliou 10 exchange for notes
has been very large. The excess ut tbe
precious metals deposited Or exchanged
for Uuifed State notes redeemed /,
about 80 600 600
The resumption OF apccie payments
has been followed by o very great re-
giyal Of bG-iue-s With u currency
equivalent 10 value 20 The money o.
the commercial world. We are entitled
to enter upon an equal competition
with other nations 10 frade and Droiuc-
ton The increasing foreign demand
for our manufacturers and ogrieu turul
prod has caused q large balance of
trade IN our favor. which has been
paid in gold from the 1T Of July last,
20 Nov Is 10 The amount Of about
$50, 600 600 Since the resumption II
specie payments there has also been d
marked snd gratifying improvement Of
the public credit
SILVER COINAGE.
The tendency Of the proposition for
unity OF action between the United
States sud The principal commercial
nations of Europe TO effect perfect
system for the equality Of gold aud
silver 10 the recognized money of the
world. leads NE 20 recommend tbat
Cougre-- refrain from new legislation
90 che genera subject The great re-
vival o trade internal aud foreign
will supply during the coming year.
Us own distinctions. which mas we'll be-
awaited before attempting other cxps
rimsntal measures with the coinage I
would, however, strongly urge upon
Congress The importance OF suthoriz
ing the Secretary of the TGea-ury 10
suspend The coinage Of silver dollars
upon the preset legai ratio The mar
ket value of he silver dollar being
uniformly less thai the market value
Of the gold dollar. IL J. obviously im
practicable 90 maiut4ja thsm ~ PR
with each other ii both ure coined
without limit It the cheaper coin Is
forced into circulation - viii Il c3iurd
without limit, seon become the sole
standari of value, and thus defeat The
desired object, which is a currency OF
both gold aud silver. which shall be Of
value. dollar for dollar.
with the universally recognized money
of the world.
RETIREMENT OF LEGAL~TENDEHs
The retirement from circulation of
United States notes, with che capacity
Of legal tender 10 private contracts Is
a step to be taken IN our progress 20
wards safe aud stable curreucy
winch should be- accepted as the policy
aud duty Of the Government. aud th-
interest and security OF the people T.
Is M firm conviction that the issue o.
il Gal tender paper money, based shot
iy upou the authority and credit Of
The Government. except IN extreme
emergency, IS without aarrunt 10 he
Constitution. ani a siolariou 81 sound
fuaucia principles The issue of
United States notes during he hare
civil war With the capacity Of legal
tender between private iudieidual- wa
Dot authorized except as means Of
rescuiuG the country from Imminent
peril The circulation @! these note
as paper money for any protracted pc
Rod Of time after the Accomplishment
OF this purpose, was not contemplated
by the trainers Of the law under hich
they we're issued They anticipated
the redemption and Withdrawal o.
9 he-e notes az the earliest practical pc
Rod consistent with he attainment Of
the object for which they eere pro-
vided