The Canton times. (Canton, Miss.) 1893-1906, 1895-12-06
Domestic Affairs.


As we turn from a review OF our foreign re
| latiOn, to the contemplation of our nationa
financial situation, we are Immediately awar
that we approach subject of domestic concerl
more important than any other that can en-
gage our attention, and one at present in sncl
| aperplexing and delicate predicament as *
require prompt and wise treatment.
we may well be encouraged to earnest ef
Tort IN this direction when we recall the steps
Already taken toward improving our economic
and financial situation, and when we appreci.
ave now well the way has been prepared for
further progress by an aroused and intelligent
popular interest In these subjects.
Dy command OF the people, o customs rev.
enle system, designed for the protection and
cement OF favored classes at the expense OF the
geat mass OF our countrymen, and which
while inefficient for the purpose of revenue,
euiIalled our trade relations and impeded our
entrance to the markets of the world, has been
Superseded by tariff policy which in princi-
~ Is based upon denial OF the right
lne government to obstruct the avenues to
euI peoples cheap living or lessen their COM
iort and contentment, for the sake OF accord
w especial advantages to favorites and
ralcn, while encouraging our intercourse and
Maae WIN other nations, recognizes the fact
s sad. american self-reliance, thrift and ipge-
auty can build up our country's industries
anu develop its resources more surely than
eneryating paternalism.
REPEAL OF THE sILvER-PURcHAsE LAW.
me compulsory purchase and coinage Of sill
w w ~ tne government unchecked and unregu-
% aseu ny business conditions and needless of
v va currency needs. which for more than fifteen
w syais uiiuted our circulating medium, under
a %lnsd confidence abroad in our financial
oosy, ana at last eliminated in distress and
, ESa, IL ~ nome has, been recently stopped by
i sss repeal OF the laws which forced this reck-
seeo Sense upon the country. The things thus
~ Hss.aompllshed, Notwithstanding their extreme
sRas, and beneficlent effects, fall far
suv !, q curing the monetary evils from which
sSysas as result OF long indulgence in ILL
u'iseu financial expedients.
THE GREENBACK CURRENCY.
uo tae currency denominated United States
N.Y., 800 :. ana commonly known as greenbaclxs
war aSS IN large volume during the late civil
renc, aau intended originally to meet the ext
s'l Sats, Of that period. It will be seen by
!, e,erence to the debates in congress
Wy time the laws were passed
at 1hn;lg the issue OF these notes.
lendea e ~, advocates declared they were in
emergency o ~ temporary use and to meet the
hsn Utmost, II not all, the laws relating to
MAI s oone provision was maue contemplating
arge oua uui;ary or compulsory retirement A
Dot ana miny9, OF them. however. were kept on |
ou1trv ~ with the currency OF the |
nav so that at the close Of the year 1874 |
M M, ~, Ihnlolnted to 1881 ,999,O7b Immediately |
,assaS Su . uate and in January, 1875, law was
aynents ~ lung lor the resumption OF specie /
~ was 20. oy which the secretary OF the treas
Ion ~a aoquired whenever additional circula- |
retira ~ issued TO national banks 1
80 nar o onited states notes equal in amount |
lrcuia,o1te cent. OF such additional national bank
3O.Ooo a0o until such notes we're reduced TO
nd afsar rms law further provided that on |
nited S,o, .ne ISL day OF January, 1879. the
redas,s.eS notes then outstanding should
IA n,e,a aed In coin, and In order to provide
tie treasv ior such redemption the secretary
M ~ ~ Plus revenue OF the Governments hut 10
Sosus OF the United Ststes and disnose
4 nnr,i lor coin, and TO use the proceeds for
In MI, os IS, contemplated by the statute.
,IntaS y, Io,o, and before the date thus an
ese na,o tne redemption and retirement OF
nf mat = another statue was passed forbid |
me N ~ .urtner cancellation and retirement |
deernsdt a an mad, however. been previously |
tlonal r. sno cancelled upon the issue of ad-
he Ia a'ionai bank circulation as permitted
lndins =. VI 1870. so that the amonnt out ,
rbidS o. the time OF the passage OF the act
Ina ~ thelr further Retirement was e33o-
ohih,,,ane law OF 1878 did not stop al distinct
novIns ~ out contained, In addition. the
Ana Express provision:
eued snen any OF said notes NAV be re- ,
} lse oe received into the treasury. under .
Iunp ~ ~ any source whatever, and shall
ire5 IN. sne United States, they shall not be ! ,
r.Issnsatn ceiled, or destroyed. but they shall
alton. ana paid out again and kept In cir I
q J sss the condition Of anaIrs on the Isi !
2 Tssr- - less, which had been fired upon
redcnr,S.ore - The date FOR entering upon /
'n ana retirement OF all these I