The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1880-12-10
[coNr1NUED FRox THIRD PAGE.]

6St1mateQ rcCe1pCS 1Of the rem8luOcr VI Tue
year, amount to $3.50 700 900, which viii be
sufficient to meet the estimated expenditures
of the year, and leave surplus of $9O, 0O0, 600.
1t is fortunate that this large surplus reye-
rectly applied to the payment of the public
debt soon to be redeemable. No public duty
has been more constantly cherished In the
United States than the policy Of paying the
The debt of the United States, less cash in
the Treasury and exclusive of accruing inter-
est, attained its maximum of s. 756, 43l 81 4s in
August 1865, and has since that time been re-
duced to 81 ,8S6, 0l9, 50465. OF the principal of
the debt. Sl0S, 75S 100 has been paid since
March l, 1877, effecting an annual saving of in
also been diminished by the sale of bonds
bearing a low rate of interest," and the apph-
cation of the proceeds to the redemption of
bonds bearing higher rate: The annual
saving thus secured since March !, 1877, Is
81. go. $3.50.
Within q short period over six hundred
millions of five and six per cent. bonds will
favorable opportunity not only to further re-
duce the principal of the debt, but also to re-
duce the rate of interest on that which will
remain unpaid. call the attention OF Con-
gress to the views expressed on this subject
by the Secretary of the Treasury in his an
nual report and recommend prompt legisla-
ton, to enable the Treasury Department to
complete the refunding of the debt which is
about to mature.
The continuanceof specie payments has not
been interrupted or endangered since the
date of resumption. 1t has contributed greatly
to the revival of business and to our remark
able prosperity. The fears that preceded and
accompanied resumption have proved
groundless. No considerable amount of
redemption. while very large sums Of gold
bullion, both domestic and imported. are
taken to the minis and exchanged for coin or
notes. The increase of coin and bullion in the
United States since January i, 1879, is esti-
mated at S2S7 3S99 42S.
There are still in existence, uncanceled,
S346 6Sl Ol6 of United States legal tender notes.
ure, made necessary by the exigencies of the
conflict in which the United States was then
engaged. The preservation of the Nations
existence required, in the Judgment of Con-
gress, an issue of legal-tender paper money.
That it served well the purpose for which it
was created is not questioned, but the en-
plOyment of the notes as paper money indeh-
Object for which they were provided, was
the the law under which they were issued.
These notes long since became like any
other pecuniary obligation of the Govern.
ment-a debt to be paid, and when paid, to
be cancelled as mere evidence of an indebt-
edness no longer existing. therefore repeat
year, that the retirement from circulation OF
United States notes, with the capacity OF legal
tender in private contracts, is step to be
taken in our progress towards safe ana sta
BILE currency, which should be accepted as the
policy and duty of the Government and the
interest and security OF the people.
SILVER COINAGE.
At the time of the passage of the act now
in force requiring the coinage of silver dol
ars, nAhs g. ',s ha Sfn,,nG nv rnanT of
the supporters of the measure, that the silver
Sonar, "nien ~ ,tio, 10 t%o t",v ~
'II, .nt % AZ ,,,,iS GoiIaT Tbauo
LILY t1,r ~ of fSa biiI who While
Iney uouD.Su as 70 , un1 ~ y. ' ms &c
sun. nevertaSess Mere Mns ~ sa's IN. .ne ~
peIent aair .a,, Viii a,, ,yo,o t,'ot tho
silver dollar authorized by the bin continued
W 1e VI 'esS n EOAnieioioi ''liuo 'A'n 'Ao ''"A"
ara goio 0onar: ..,.. ao,,. aor
al, Inc coa soS u enSG hs,o uon al Marcs,
1910, anu mas mas peeM M, co o,,a.oeo 90.
requTeu Oy tnS act. Inc aVeIaSe IaIe
per ,-e o os 70 tne pseS t,S , nus ~ tSa
first OF Noyem IN! s last was s;2st1 '9; O TINS
amounC $500 renain ~ tIe i,eas ~ ny,
anu ohy $1,000 ar ,o eC Ia, -, e ~ s ~,
People. cOnstane enorI mas Deen nlauS : "
cradle expense has been necessarily incur
Ted Ior TINS PURPOSE, 1ut us reCuIn 70 tne
~, Is pfORs anu SUI e 4, e;as,T ~ ~
the measure at the time Of its adoption, the
VaIue OF Tue suver uOnar, cOn.asniHS .iIN
grams oa snveI, haS ~. acaea s ~ i;'i
Sne !cal P.oI ~ .ao p"SoaSI y. w w - ~ ~
% us q oaS aS fo,,, ,,;n ot .r t
siiver wnlcn II cOnSa.ieu was non ,un .s ~
medy,swo cehSS, as pa t;,a WI msn smr
Stanuaru gOio uplar. DuL " 'nS aast ySar
tne aserage marcy s value .. "a .ne Sel uoaaf
h1s Deeh y.,at ts,a LIZ a;siot;o,, ,t .ho
rs sd' ~ ie ~, fa y. .i ~ , .mss
Cong1ess IN regaL9 70 Snvea, 70 t Us ~ waS "
Oaseu On an alctp1eu a.sT ~ .nG va t..;Io VI
s s as Iesut % liz. s;, nS MS,o
70 prut . sne emSUs " Hn fp ,';S ~ 70
tongeI .ne iaw N 1 - ;o' SEin S, e
goes tne c9lnage OF Elm uVn t wmnc
~ saot t;S ,,,, III g. Iii No f",,od -,
sne uanger snaS ohiS III os o o ~
stan4arI Ot raue, IN ta,, - amu . t
' y. ~. ~ ieSS P utf ~ 20 " "
M,.n III .me xS,n VI o Stota.a
,,aS e,,S;ny ,,,S,,o;,,ias ' nUd o,,r Hast ;ate,
tI III nt ~ t Jul a,sII ha1.o
as its leg al tender money! both gold and sill.
yer coin. of an intrinsic value, as bullion,