The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-12-01
New Election Laws Called For.

cage In printed here this mnininH He eonara-
tulatea Congress- on tho nupnessrul execution ~
the resumption act. The demand unan ihe
treasury for gold and nilyar In ayehanpa for
United Htates notaa haa haen comparatively
small, and the yoln ieuoaIt nf coin aud
bullion In exchange for nntea hae bean very
large. The exress of the precious metals ~
ruaited or exchanged for United ptntea moi na
over tho amount Or Unitel ntatoa naioa "a.
deemed n about forty million ~ lnra lle
refers to the consequent revival If trade anL
aavs the increasing foreign demand fnr eur
manufacturers and agricultural rrndunta haa
eauaed u large balance VI trade IN our favor
which has hapn paid III gold frnm tAp lral of
July 10 November ~. 10 the amount of fsa pna nNn
Since the resumption of specie ppvmanta
there has aao haen marked and gratifying
Improvement of the nnhltn credit. The honda
~ the government hearing only uer cent III
tereRt have heep sold NJ ~ above rar sufficient
In amount 10 my Of ell the national lalt which
waR tedeen,nbIe under thn prnaent laws The
amount ol intaraat saved annually hy lhe nro-
seea " refundlng the deht ainee March ipi7 u
siA,7a7,tff. The haude cold wnrn largely I'm
small sums, and the nunhnr W pur citsana
now holding the nuhlie securities "a much
greater than ever before.
rnE FuNnlNa OPERATIONS
The amount Of tha national d,ht which ma
lures Within nsa han two yenra ~ ffn9 tqt 700 W
which tNenaoa 600 aea inereat ut he rate 81 per
hhh t1f 49, t'HAS i'Nt lNA y htN
cent intereat II ie believed that THE patt ~ Tho
public debit can he refunded hr the iaamo o. per
cent bonds and by the redemption II into,aa
which will thua ha oIaotea about si, oio .aen can
be annually a4vad to the traaautF ~ sornIe
this M MimpoTtant reduction e i9teraat io he pali
auired which Il "a hoped will ha urovidnd Nv
oonRress during its present eoaaion.
our COINAGE
The eoinnae of gold by the minia oT the
United atatea during The Lac, Npnal year was
aaoese,pp. The coinage Of silver dolRta since
the paasage q the aol tor that purpose % M
vemher |, 1870 wac slE 900 $50, OF witch sip 700
Pa have been iaanad frum the treasury aud ara
now In circulation. and se19oo 500 are sill IN Tho
poaaeasion of tho sovafnment The nendanry
Fl the uropeaiton for unity ~ action bewaen
the United States and principal commercial /
COR the eusty II gold and ays G h, IN tho Tssss ra"eR
nsed money cf the world. leads ma to teoom-
, mend teet & oons,esa refrain FINN , new, lesala,
pf trade, internal and taraian will sunuly dur-
Ing Ing the coming yg9r tta own inetrn 'tioppa,
experiments with ootn.
rnF sIrvRR rotLkh
would; however atrnngly urge uren Con
Rreas the Importance of authorizing tho secro
tnrf af the Treasury 10 Rnapeud thp coinage nf /
ailver dollars upon the prea"nt legal ratea, the /
market value of the Elyer dollar bang uni
OF the gold dollar. II IL obviously impraoticable I
to maintain thom II par With each other If both |
h forced into circulation il will. II coined With
out limit, soon hAeame tho sola standard pf
value and thua defeat The Desired oneot. witch
ts currency " hAh E"ld Rnd alser. which I
shall be ot equivalent value dollar fnr dollar
with the univerRally recognized money ~ tia
world,
faE RETIREMENT W. uRFENpAGKa
), The retirement from circulation Nr Unitod
statea notes with the capacity u legal tender on
private eontraeta tH q Rnn !" w taken ~ our
which should hn accepted aa The policy and
duty of the government aud the utores and
security ~ Tho pnonln. II ~ my nfm onnvia4
lion fbAt the lsAun al lppHl tpn dor M
based wholly uron The authority and oredu af
NJ wttAant warrant In the canatitnttGu and a /
violation nf sanpd financial rrtOcttra Fha3
Issue ST United s'atea natea durlnR the latn
tween private individuals waa Me- authorized
except a. meane NJ reaauing the country from
imminent peril Tho circulation ST those uotea
~ payer money tT any pratrd.tcl pettad W
time after the ~ Nmpishmeni of this purpaan
was not contemplated ~ the trnwnrs " Hi" INV
under which they waro fssuad rhnv an}tai-
patad tia redemption ANA withdrawal Ill the
notes at the earliest practicable reroa eensia-
tent with III" aitaiumnHt " the ahjaat with
which they were providnd.
nEcREAstNt rHE NATIONAL Drpr
The policy of the unttei Staiaa steadily AL
hered 10 from the ADDITION Of Tie constitution
has been 10 avoid the creation OF a national
debt. When from necessity III tme II wnr
dehts have been created they haye heaa paid daf
with this view, aud fof this purpoae it il re-
commended that the existing laws W tha acau-
mutation of sinking fund sufficient to extin
sush the rublic deht within limited prfinl ha .
maintained ~ r" {
4 rpry IN a.. III, ,ar,rr ,,..,,.,,~-,,.,,
,,,,.,.. 49,, ~ Ns 49, >
.ns .n'tlAG ~ N0gst@ nF ttNts wv TAXATION ~
that axnartnnas has sf M tr,t > ~ ~
ai a nsa ", M MI t' s " .h3M ~ 'nsa IL II oatA 1ih 10
sba "a, fi ] a & = ~ ~ = ~ 'let "uhan
which yili aiI aa>arai n,iIiiNns IN lI a4n @
npaily 10 fha tre,snrv = 81 9
r Il
HoLvaANN. h
In me sntNaet et paSsaniY thN President n
saya; Utah las prpulation sugci4 nj d eu- 9
IN ~ N Yra NJ il