Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1880-12-08

of the loan of 1853, 10000 90
Of tnnuorlry loan ,,,,., ...,.. 100 90
OF hnunty land scrip ............. Is 20
OF comuound interest notes ......... $500 90
~ : 3o nnotes of ISil,5 .. $3.50 90
OF one AMI two year notes ....... 10, 90
~ old demand notes .,,......... 4gj 90
Total ............... ...... S73, 96s, Ns7 Al
,,,,,,,t 1,,,, t,,, s,lir, f,na for tbie yoar
ne 5im5 w., 'ue ''iT " ,,, a. 10
Mne 81 on e. ~ s9 DC "a. i S.o .ss
of the actual requirements for the year The
aggregate OF the revenues fir IN all sources during
the fiscal year ended June 3d. lS>0 was
Of $j9699, $3.50. The receipts thus far, of the
current year. together with the estimated receipts
for the wear, amount to S35OoOl,OOl which Will be
sufficient to meet the estimated expenditures of the
year. and leave surplus of 81 'OOI 900. 1t is
fortunate that this large surplus revenue occurs at
Il period when 1t may be directly applied to the
payment of the public debt soon to be re'ieemable
No public duty has been more constantly cherished
~ tile EnI,g oS'e9 .I'''' ','I pooI Vi pa! ms tue
,,, urn, ,C ,,ypr
IN. o''-'C Di"'
The dent oil the CnteI states, less cash IN the
treasury and exclusive OF aGcruing interest," attain
ed its maximum of S3756,i3l ~ i3 IN August, 1862
and has since that u'he been reduced 20 S,soh Ol9
IO4d3 VI he principal OF llc ueDl, SlVs,rs, Oo mas
been paid since March |, 81, enGctlng an annual
saving OF interest OF S,lOl,5B: The burden of in
terest mas also peeh diminished by te SAFE OF ponds
bearing low rate pl Interest," ana tle Application
If the proceeds 70 the redemption OF bonds bearing
higher rate. Iheannual saving thus secured since
h1TGh /, io.h Is ,,,r, iu,a
f fro anI CIV nov rnnt hnns viii h"cnma radao,n
lbe. This presents Il very favorable opportunity
nt sG to rninre tho rnto of intarnst an tb,f v%i,
will remain unpaid. call the attention OF conSress
to the views expressed on TINS SUBJECT by the sc re
W. vI r,,t ~ % liz t "t
department to complete the refun'ilng OF the debt
WHICH Is "oou' 10 'h't"'e'
9iE''t "a "INi''
The continuance OF specie payments has not been
INTERRUPTED or en- langGred since the late of rcsump
ton Ii has contributed greatly to the revival of
lulainnss and to orr rpmarknbp prOsunritv The
taIr. thot nracel Ia an / nrronuonie1 resI,nntinn
nave prove1 rruundless No ronsilprlble amount
of rniel sin es notes have been presented for re
IemptiOn, while verr large sums of gold bullion
both domestic nnd imported ire taken To the minIs
and exchanged for coin or notes The increase of
coin aud bullion in the United states since January
t. 1873 is estimated at Sl2i 39g42S
49,. ,.'.,,,, -.
bE"N"'' EN'H" N'lhH'
There are stlil IN existence unCdnCclel, T346,6S q,
pi6 OF United states v2al-tenler notes These notes
were authorized rs a war measure nude necessary
by the cXigcncies of the conflict in which the United
states was then engaged The preservation of the
Nations existence required in tn" judgment of con
gress an issue of legal tender paper. That it served
well the purpose for which 1t was created is not
questioned, but the employment of the notes as
paper money indefinitely, after the accomplishment
OF the object for which they were provided was not
contemplated by the trainers the law I'm which
they were issued. These notes long since became
IKE any other pecunllry obnga ION OF the govern.
ment-a uebt 70 he pau, amt, when PAID to be can.
celei us mere evllcnreo an lnie e'lnesr no longer
existing. therefore repeat what was sad IN the
ilii,i mes, e "t ~ S1ar, t'' tie rtIrehent
capartv of LEGAL ten Ter in private contracts is a
step to be taken in our pro grc.s towarl A SAT-, and
stable CURRENCY which should he arrcptal M the
policy and duty of the government and th, interest
and security OF this people
rur st,vrp ,,o,,,,
' 7''' IN ''E"AN
At the Tune OF the passage OF the act now in force
requiring the coinage OF silver dollars, liking their
value ana giving them legal-tendcr character, it
2e.eNe' ~ many oi Ong supporters OF the measure
speedily become Tner the ,ner,t,ons "T tha I,y ",
equivalent value to the golI dollar There w,.r'
other suuport.rs of the bin who while they ii ,rht
cd as To the probability of this result nrverthaess
were Willing to give the proposed experiment A far
trial with a view to stop In coinlre If nynnrianro
should prove that the silver doll r aut6nrizrI nv
the hin continued to be of less conmerrini valng
Than ina st,n,I,rl r,II lnI,r MA .,''I,, ,a - W
YER dollars nndar the net retprrrI tn Iegap in
March ISjS and has been continual os reanirei h,,
the act The average rat. per month To M. nr,,S,t
fImp h,. hann - 81 tgp Thn total nmnnut ,',;,,
nri0r to the first of November lHst was - ~ IA
Df mis- nmomt Il 0sl l50 renin in tho tr',,
and only sli1,} 1gi nr,, in me hands If tbo nal
4 roust,,nt ntrnrt h1s noon mai, tn Laar r. ,.
rency in circulation and considerable pynsnsp has
been necessarily Incurred tor this purpose, but its
rttGfn TO tne treasury Is prompt and sure Contrary
" tI'u N"nI't"t anticipation vi INe irlehls OF the
~ ac tiiC u. US aopIoi, Cie va ue OF the
9ilNt' "pl'' containing AZ grams 81 silver mas not
hcreaScu. DulihI me year pflor TO the passage OF
le IN "utloIlHiiS us cohtEe' the market value OF
t'ie SILVER Whlch IL contained was from ninety T.
hlnt NV" Genus rs compared WIN the standard
Sol" dolla' during the last year the average mar
het value Oh te SILVER d3ltr mas been eighty eight
am nan ceh's IL Is obvious, that the legislation
VI u'e 'et congress IN esar 70 slNcr' so lar as IL
was osel on an anticipated rise IN the value of sill
yer as lGsuI ~ taI legslatlon, mas lalled to pro
luec .l'e chett tlen Preucled' me longer the law
Ielns ~ ioT'e' reiuILls rs uoes the coinage OF
a nominal do II, winch, IN reality is not dollar,
tlG greater p,co'hes tne danger mat this country
mlll DC loiHcu 10 acoept slnSe metal rs the sole
it6ai VI naue' III l'tulatlon, ana TINS is
st' , y. YES saue t'n ~ Purports TO be worth
im , t,le W ~ .ioleH VI 'ne world me const
IIeto' VI que u''i'et trs' souhI Lhanclai prncl
PIES anu our pest interests all require that the
country shoulu nave as It's legal tender money! both