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THE WILMINGTON POST.
W. P. CANADAY. EiTr & Prop'r.
TIIK FINANCES OP Til B NATION.
We print cncmgh of the report of the
?ecrctarjr of
ihc,-Trea.-:ury- to rive our
; reader some idca'bf the -J-udirmcnt
i'lXANTE AND COMMERCE.'
WILMINGTON. X. C.
J-U.NJAY MoRXI"0, Ii:c. 11, 179.
Senator Kansom in made to assert
that the negroes of thc.south generally
aro Democrats, and tbat tlic conversion
of uegrocB to Democracy Las of late
become wide spread. Wu do notj be
lieve tbat Scuator ltansom ever said
any euch thing.
. --
Wade Hampton says tbat lie believes"
a solid Hipport of IlayardV resolution
by t Ijc ' southern Congressman will di-r
abuse, the northern people t-hat the
south want an inflated currency so
that they can pay their state and pri
vate debts easily. He thinks also that
the nouth ough to be warned by the
late elect ions. !
III f,he upper cotton counties of Loujs
iaua the Republicans went to. the polls
with the rallying cry "A fair vote or
Kansas." The cry now is ,,Kxodus,"
which promises to commence 7n earnest
and continue until northern Louisiana
is stripped of labor. This will be I
price paid for bull dozing-
i in: i:i;poiit or tub sHureta-
ll Op THE TitE8URY.
j which is-f xerdied in managing the -!1-' following is an intelligible ab-
!-.vrt financial traotactioii tof our coun- : struct rf Mr. h.rnian's report :
j try. The annual financial traajactioiw ; T.talv. i.ihi.iry rccci', ?273,S27,1S4 16
; of our goverr.uui.t a mouut to 2.?3,0OO,- lftal-rriiiuary rxpendi
! OCO, and wc carry a public debt of 1
p,7''; P'Tt - A':,'j -vcl ur ur : Lvavli a ,urplu.s of $0,879,300.93
V -t v-. VM.V ...... j... .t i- r..
j lie amuutji uut ine smiving iuiiu iui
20G.917.8S3.S3
The griHt Cincinnati bo:ith,cni Kail-
road, on which that city has expend jd
tlS.UOOHKV and which connects Cin
cinnati witli Chattanooga, is complete
Wben our roadjs couiplctul to Ahje
ville and down the rrench Uroad. iliit
ever is, Wilmington will Le within
miles of .Cincinnati. This great work
imposes i,-r)0,0UO annual tax tipjn
Cincinnati,- but it opens to that amij
tious city a ."olendid arterv of trade
into the south.
A pleasant, atl'.iir occurred at l'laiji-.
field, N. J. Mrs. Ui.therford 15. llayi
hewife ofthu lVesideiit, was visiting
a friend in the town, when. hc was Li
vited tv visit the lligii and (.Jramuiar
Kchoots. yn. Hayes gratified nil t ie
children by shaking hands with tneu,
d .made
r-
happy.
cciiid,
r elai
in lorcign money .markets. TiiUisiuc,
it is true to Uie fact of our cueTinoiis
surplus prodiiction, whic h .is -evidenced
by the fact that we sold to the outside
world during the last fiscal year .nearly
I5ut it is due also tu the hzh financial !
honor which ytervadea our highc-t finan
cial circles, and which induces them
to guard our national credit as if it
were their own. But still more is.it
, the year w;is ?-:;i.;,l.33,001.Go, leaving a
deficiency n this ncvount of $30,07C,
3't:j.70. -. . . - -
The diflerenccs between Ahis and the
previous year are there given in detail.
T'or the present fiscal year the actual
and cstiuuited receipts wi!lbe: for the
quarter euding September GO, 1S79,
actual. $7i),-S-l';.;:-79 -10; estimated, $208,-
r,A:.:A.
due to the .sACflCily, forcKigfit, coolness ' . ... , ,
,. , c , , r . ; actual and estimated will be actual,
and judgment of the head of our great i , . ,
,. J . ,.n , : , , I .G$;j,:;v.l0. and, C!-timatcd, fl:72,
linancialIepcrtment. It is also ue-j ' ' .
caute the head of that 1 partment j 01 J ," " . .
, . - , r i i iota! reeoi'ts, actual and estimated,
of the great business1 and monetary
centres of this' country and luo world,
that this nation maintains its acen
daifcy in tlic money .markets. :
It is not to much purpose to call ai
tciilhm to the details of the .Secretary V
report, "inasmuch as it is arranged under
heads fco that it is easily unJcistood.
Hut it may be said that in the judicioun
economy with which the '.Depurtmeiit
is conducted il is re mar La UK'. .Such
things as the amui il saving of 'rl '.-S-1O..0O
by the n-funding of .the at? I (1
per cent, in - 1 per ceuit. b"i;d.-, . uch
navings in ihc collection, of "iir va-t
revenues, and in h iuiuorselct:tils (
ctual reform-, in all ar!s of this set ie'(
gives conlideuco and. sat i-.fj'.clio.-i, j i L .
onlv to the gn at f'U. in-. s-s inicrt ,(-.. 1-n.t
Baying kind words to -inauy, anj
tlic -'children very proud and
Mpngs were Ming, pieces were,
ahd Mfthtcr Vincent, of the scni
presemtcd the first of Ameiicaik ladies
with a Il'ra1 horse nhoc and a l:i.kcl'oi
'luinc of the pi oj
the in
to l lie Vo
M-IWS.
It li.' pem'd that lit lite opcui:
Congress the; l'rt siU irt in hi-'nu
u-ed the i'olluwing laiouac ia ii
10 icgai u-uuers e r grce ia-achs : j . iris
my. firm cj iiVH'tii ii that tlic i- n'o'I
legal tendj-r papi ri njoney ba.-od nljoi'Iy
upon the u.t ho i ity and -cedit o!" the
govvriinient'. except in '.laine oiner
" ... . - . .
genc , is wiuioii'. warrant in ine cou-J
stituiion." And when some one ad
dressed hint a .letter icmon-Hatm;'!
against liis dtclaratioii, the rioi-icnt
? 2:001 hum i; total expenditures, actual
and estimated, $201,000,000, leaving, a
balance of $21,000,000!.' :' ' J
Alter applying the balance or . the
special .elep si; of United States notes
held in ti.e Treasury fur the redemption
of fractional currency, amounting to
?'S,o7.,.o 1, 'to'.- the payment ol arrears
of pe.: sions, as directed in section 3 of
the ; a'"t aj'proyed June 21, 1879, the in-crcii.-cd
-r.'Vt i i i - derived duriog the
nioiiths ed' duly, August, and Septem
ber! c'f tlic present fiscal year was fully
alistibed by current, expenses and tnc
payni' ht oi $10,:i7-J,l-l'.. 00 arreais of
pc!!s!-(iis acciuinjr under the act ap-pi-j'ved
Jan. 21, 1S71 Nolwithstand-
ing tiie.-e iihiisti.il demands, the de
pai Ian at. has been able to purchase
and :j-ply t the .-inking fund out of
the .-u: iiiu-- revenues lor the month of
October jdiH'o'i ,000 in 0 pea- ccnt. bonds
of 1 S i , .vui $070,0:10 in r perj cent,
bunds is iici u:ider the act of Mirch 3,
lSitt. 'I ho hilar is the .excess! of .re
deiliptiott i t' tin . ,; bonds over isjSU'S of
. ' pi r ceais ui;d;r the Ueluildioir acls,
. ! and uule-s unexpected appropriations,
'- i i avail. io:e-i'-; t'xpt iiUilurc within tuis
v -ar, aic. 1 : -1 - or e oiiiicss, tlie sur
I pin-, leveau-.s, in aliiiioii to paying rlf
the haUince of rre;irs id pensions, will
j probably 'enable the elepartmeni to ap:
j ply. to the r.-i uking fimd acc"unt:during
tins year the. sum ot $2 l.000,tOO
'The lever. in sot the fiscal year end
ing June l1 1 , ls, estimateeljlby ex
isting lav..-, wilt Ye total ordinary
reeeii't-, $2 -,i'ii0.J0U. j
1 he 1 "V-imaits of expenditures of the
-1.;:.' !Mi!:"t i .-(-.'1 i"i il (rn-ii' ! V.o 'fipv'r:4l
increased from $135,508,804.50 to $152 -737,155.48.
!
In accordance with the positron taken
in the lst annual report, United States
nates hare been received since Jan. 1,
last in payment of duties on import.
To meet the local demand for coin in
places other than New York city, per
sons applying have been paid silver
coin for United States notess, thacoin
being deliyered to them on established
expreu lines free of expense: and for
some time cold and silver coin has beeu
Ireely paid out at the several duo
Treasuries upon current obligations of
the government. ! .
There baa beeu, however, dui atue
demand for coin, and United States
notes and the circulating notes 01
national banks hare beeu received and
paid out at par, with coin in all business .
transactions, pumic or-i'm.iir,, im
parts of the country, i
The aecie standard thus' happily se
cured has giTen an impetus to all kinds
of business. Many- industries. greatly
depressed sinco the panic of 1873, hare
revived, while increasea acuvny uas
been shown in all branches of produc
tion, trade, and commerce. Every
preparation for resumption was .accom
panied with increased business aud
confidence, and its consummation has
been followed by a revival 01 ireuuc
ttve industry unexampled in our pre
vious history.
It is made the duty of this depart
ment to maintain resumption, aud for
this purpose, in addition to tho use of
surplus revenue and the fund for re
sumption j purposes, the Secretary is
authorized to issue, sell, and dispose of,
at not leas than par in coin, either 4,
Ai or 5 per cent, bonds of the descrip
tion set out in the Kefundinc act ap
proved July 14, 1870. This act is based
upon the idea that all the necessary
expenditures of the Government ap
propriated for by Congress will be met
by the current revenue, leaving tlie
surplus revenues and the reserve fund
available i for resumptiou. It is ais-
provided by that act that the amount
of United States notes to be ledeemable
on'demaud in coin tdiall be gradually
reduced to ihe sum of $3o'ooii0,imi
"The net approved May HI, JS78, iu
creases the maximum of Umteel States
note upon, which resumption is to be
maintained to the sum of $310,08 l.O'O,
provided to give confidence in, and
security for. sqch redemption. With
these conditions maintained, the United
States note will be readily received and
paid on all demands. While they are
maintained, ifio legal-tender clause
gives 110 additional credit or-sanction
to the notes, but tends to impair confi
dence and to create fears of overissue
It would seem, therefore, thai now
and during the maintenance tf resump
tion it is a useless ami objectionable
assertion of power, which Congress
might now repeal on the ground ef ex
pediency alone. When il is considered
tbat its constitutionality is seriously
contested, and thai from its t ature it ;s
subject to grave abuse, it would now
appear to be wise to withdraw the ex
ercise of such a power, leaving it in re
serve, to be again resorteet to in such a
period of war or grave e'uiergcncy as
existeddn 1802.
1 The government derixeA an advant
age in circulating its .notes without in
terest, and the .people prefer s.uch notes
to coin as money fr their' convenience
iu.use in their crtaiu redemption in
coin 011 demand Thisiuutual advant-
$370,848,750 six per cent, and $193,"
890,250 five per went.
The total amount of aunual interest
on all 5 and G per " cent bonds refunded
since 1S70 was $81,639,684.50, and the
total amount now paid is JGT,73$,$3$.
making an annual Staving of $19.9.0,
846.50. . -
The five and six per cent Ih)ih1s hich
wiil mature in 1880 and 1881 wi l
Amount to $782,071.7. . Of these the
Secretary recommends as follows:
It is respectfully suggested that au
thority be civen at the iresent session
of-Congress to issue, sell, arid 'dispose
of.'at not less than par in coin, four
percent bouasi 01 tue iescripiun ssi.
forth in the said act of July 14, 1870,
and refunding" certificates of the 1
scrintion set forth in the act of February
26, 1879, with like qualities, privileges,
and exemptions, except as hereinatter
stated, to the extent necessary ti re
deem thetbonds'.fallingdue on or before
July 1, 1881, above described, and ;o
use the proceeds lor 1u.11 purpose
NEW '..ADVERTISEMENTS.
cise of - epu-Uionable power, nor neeel
any inconvenience arise lrom the re
peal ed" the leg d-tender clause as to
future contracts. Contracting parties
may stipulate h r cither gold or silver
coin or current money. In the absence
of an express - siipu'.utioii for coin, the
reasonable presumption would exist
tuat the parties c iiu-nipiaie;il payment
in cuire'Tit m uey, and siich presump
tion -might propci ly be ebicl.ired by law
anil The contract enhir. ed accordingly.
The Secretary, h-rd' h'-. respectiiilly
submits to Congress whpivr-ihe legal
tender clause t-houid n)t u iw bo re
pe.iUei' a- to a'.i future i:itr.icls, ami
partus be left to subulate the mode ot
payment. I' n ited :at .-sj no'es should
tiii he iei";ival'liV i-r ajli dues to the
overiim.-'niy lli.v Aioeiid ho promptly
redee-P'-d ci demand, .11'id aiiii!e pro
llo!i ma le to
tl.'ti. :
M1N I AMI 'IN
a-' may be secured' wiiii-mt hc oxer- It is hoped that the. advancing cretl t
of Ihe country will euaote ine Secretary
t sell such bonds an 1 certificates at a
a premium, but it serins better to main
tain the general conditions of the four
percent, bond rather than to under'
take to sell a bond at a lower interest.
The four per cent, consul now uni
versally known. The rate of interest
is as low as will generally maintain the
bond at par, and the premium will
measure its advance above par at favor-,
able periods. The certificates should
bear the same rate and be sohl on t?ie
same tTuis as the bonds. It is imjwir
taut tbat the authority granted should
include the power to refund, from the
passage of iImj act at the present se
sjou, and to prepay the e.vlcc-ss ot inter
est 011 the b uid to bo refunded prior to
its maluritv. The present is believed 1
" 11 .-I 1. 1 . : J I
to te nn xceptionaiiy iitvoraiue iime
Wfttche. ofleu buyin at at l.w ..,...
Irnth llieir value-, nml in no ln?t tiin- u,v,.'
wo pa M over one-rlxth the in niii(.i.-!Ur,
priw.Wnco startlDK we hav.- alw .
abt l JtsHsi e' tiis ciil in iu.. -.,
nivl lliroushour reculrfu:mrr tlir...,.-,
ut the country nl nearly rei;eilar pri.i-,
f.il as wc i-ouKl riH-ur ihu'i. im ,.,Will : u
Ihe litre nurutnT of f.tllu!- n m'ui--bravlt-lUt-ulorsMinl
iiiaiiul.kCu;r r.Uir..-i .t
out litis ami other etnntrit-s rturin f;,',
months of June, July ami Auutt n)lr t!1 ....
when the Jewelrr hustnt ss t .-Uiwnsnt:
have now on lianil an iatmrn-v. ti-k i.iH,.
niivt leslralle khiIw hav cv,-r lutu.:..t
anil whlctt w have loithl l low or j , , ,
(hani'trr bfloro. ln'orilor tlip'(-,,; ti, iS
i-utiro st.H-k in Ihe iuut ' n ,y m inn -r
pia.ltle,anil inakerootii (or n-w on, u j, ,(
wo h:ttl continue to buy. wc h tve m- hi v',.
lit follow Ins novel plan:
V propose 'o give you a list r ;v ,
llolthle ef Ihoe CiXKls, pivia- .
-each article its rejt,uUr,rtctl'vainr.u:iJl
In vim at the rateoftive lKllat' w..mii '
$l.(). For luslaiie-. on receipt i.r y cu, vv
will se'iiil vmi, revst l.v I v. any urii.-w ., t) .
valnd of V ": on re-ipt of ll.tut irtu- i x,,
Ihe value of -".'M, itil ,n throin-!iiiit ii.,,
enlire 1 it lU-low we Kle- a lil 01 Hi, iu
vain iMe oHef.koiils.
I.I-T OK-J'KWFXKY AT WU' l.:s 1
li.-ii s N( stjln Soirf KinUiT 1'nii . .Xs'.V
Mfevi Hutlons, Kiirt:it tr
WonNetllns.. s, .
msint KttiU.', ls.Dgravi-U orsUnn
fettins .-.
Kountl or loiig i.iuk A t c haia
atul flutrni t
or Ijt'Mvj.' "laln. Itaivil, K.t:iry
Stuui or UmiiM .llins. :
I .i.lii ' 1 u; or Kuuuil an-y IWotu
11 11 .-
Mone or Kngraveit Kitjr-lr s to
m urn
KtiKruveit it ml Kunex I
An v 1 hreo ot lh nttove arilc
ehl .jLy tn:iii. p.t-i-ao piihl, on rc
i-i-lpl 01 Mi i-'s.
I jtilles' ltr..avl ll.ttfl I'.i ,t. 1 'els.
'if Kirst-e"iiis-s t-e,t!e liln
llOitrt. Sflilt-lkl. etc....
"urt Pin
-s w ill 1.,
, 1Ku)..i
fr tiPtit'o ltriltiant f't-iimmit .s-1
e-ire ,mic!i iedemp 1 for fucli refuudiug.
i NATletNAI. 1! VK.
Til.
v.tine o
tip
;d
topiair eie-
ic'lll dtirin;r veir iv; vlM.'ji.'.ll'.';
ol M.tml.ud si
01 .-ubidiary -
lit i nor voi u , I'. , 1 'is. total IJGS.o I 2. o'J 2 o' ..
ver d ..l.ers, 27 .-J27 ,oV&,
i-dver eo;p, :J.S,--"U; of
(.iol.l
! .-.r.vt r w r s;:;kir.tieil iu .the
Mowers, saying that 'these gifts ivefre 1 replied stiil moro cmi'hatieally ' ltat
presented as a. token of esteem foiv';the "the only const it iTtional legal tem'er isi, cxm,.jvc tU pai liuciils aie as follows
wile ol our It,iiori-a president aim Ui.. goiu ana si. ver. jnc 1 rcsai. .,t ais..,;
dislinguisheih and worthy repiWeiihi- said in "liis iiussr.ge: ' The smio ol
live of American women." Well said,
Master Vincent ! and there w.is-a prelml
iiii.l m.iiliii.r llir.1.1 lmritlr...! si-lui.il i-li.l-
ren who, w ill never l'.rget the kuidne-s means rescuing ine' country irom ni.
of the gentle lady. .'; j. j mineril ri I.- The' circulation f tht.-
' ' i ! notes ' as Taper mrnev- f'-r i;nv pro-
toial, -. 'J7s.i''J7,:jii 1 r.'.l, or, an etima'ed
surplus .f ''Jo j;'3.".;i.
Should t'ongii -s increase the appro
pri iiioi-s lu-yond this limit, or repeal
United Slates notes will; the capacity'!
ol legal tender, bt lwteu private --i'mli-l I
vidu.Us jW-as; not atitlu.nz-d except ;-s a ,. mJucc existing taxes, other sources
o;"icviJr,ue 1 1 ; 1 1 -r be 'provided. Should
this course be determined uponj which,
.if
of
Vorwo.oil, Tresiilent of the Chamber tf
Ojinmoroo vt J .ivi-rpoed, England,. Was
. introduced ku 'Cliatige in Cincitihati,
-. . I '
and niddei a mIi'M t uddre--', in w.hieh
Said hi' had uiadi an exten.'ivif lieu
thf cotton -tales, and ihougii i; '
somewhat' liiu.lrd.i-tis to attempt to -
mate tlie cotton "crop in this c'wintiy,
he was alilied the increaso this ycaj
would be between 2:),0(o and j :5'.M.titV)
bales, lie was. glad t .-ay that it had
lieen produced cheaper than li-u al, .and
was being gathered, packedj aud ship
ped in much better order than ever be
fore, lie congratulated tho city on its
; eutcrpri-e in building a road to the
Kouth, and tin whole country en it-
' prosperity,-ami. yetiturod l hp opinion
th.tt-.the-present good tinies -.would he
enduring, and that hi- coiritry wiuild
mh'ii be enjoying the Mime blessing.
sll KUM AN.
loliii Mierni.ui ha- been i'i unuitef-
rupted pnhle;: Mite lu in-.iiivl jtw en.ty--tive
years, as Member it Congress,
I'nited s',ales Senator and Sccic.ta'iyj ot
the Trea-ifty.: In all this, titiu he l;.i
ln"en kuowii t the Uepuidicaii l the
whole-l'iiion a- .t nnii of cotirsce and
.cemviclns, & fe.iTlv-s c'.iau,,V'.-'v -f freT1-
; '.i.-v. 'i -f J-rlliv
- : I -. -; . - . 1 : .
bo has i--ir.a! v in.unl.t uit-si U
traded period of time-after the accMiu
plishiiientr ol Uiis-pnrpij-e, w. s n,,: c'ii
teniplateil ty 1I10 rtimt. ol' i!ie la.w
tinder w'sieli li'cy wrr? TV.ly
anii'cip.'.t.d the '.icde.mpt ;.! . :! wi;;-
ieiwever, the
ii!fiii,l,'.he woubl suggest, as a means of
'nd 0 tii-. the dilKieiiey, the restoration
ot' :t'm..detr.i:to ilutv en Ira and coltee,
Secretary eloes uot;recom-
inamit.u imis i l piiuii, as hereinatter
ii
! rv i a . tlie atli u; 10
10 be ileariy ;b ',"
lion o '.'-ild ! :t't, I
e'l'i 1 1. 1 i- y e.ii -
b'-s th in .iliati ! tli
caused by a dimii.ui
the mines of Nevad.i
s-J'l.rVJrpJ ;7
T in .-liver, a
and tin - and
the amount outstanding at -the date of ; Mints a.i l the -- iv i;iliee in New
tue passage iu 1 tie aci. 11 aisu proyio- iurK.10 i!ie aiiioniiL ii
as follows : "And when any of said in lvo-I an I t"U.iS4..i!
iietes may be redeemed o( be receive-1 tjjtat i c:H , 147 ,n7S '.'1,
into the rreasury under any law, lami 1 uuparted t..ir-jwere in if
any sou re'e-whatever, and Miall be.ong ,.' 1 iV.'ro.M 2 osr -ol;
to the United Sta'e, ttiev fshall notlbe i ..y2 I I o! .-.;lvt4; Tlie
retired, cauceled.or destroyed, but they ! O.iin- g nerajllv anf
shall be reissued and baill out ngaiin, I dition. and tiihi eaf;
1 j a . i. 1 .1 . li
ana Kepi in circulation.- 11ns net j to meet tue a niin
must be Construed in couieet:oii with ! bar-.
the provision of thc-Cpnsitut:oti that
to
Tho report of the C.imptroller ot the
Currency gives complete statitics rela
tive tithe, iterations of the national
panking system from its orgtniiiliou
until the present tinie. j Tho number
of b vtiks 111 operation on October - ot
the present year, tho. el.tte o-f llieir Sa-t
reiorts was' 1!.01S and j tho aggregate
! capital, :H"l,Oo7y)i; sJurpIu. $111-
4Sr,.)S, null vi'lual elepo-its, 1 :'... ,-
in the- amount ,ri(.'.; specie, including jlJuited States
and ,0'lV,- 1 coin certificato, flj,17J,i7 JI,'J;:;; legni
Minis and Ass tv I tender notes, laciuditisr l nited -t:its
irk rcelle'iil con- j 'certificate.; $0j,!'7M.:1 1; loans, $i7o,-
itjy is sulhcient : 010,107. The total circulation iittand
j- c linage and ing on November; 1 , was $.'5;7,lSI, tl$
fl
rev
f he verv large taxes p,iil bv national
f i'iu-lhe mines batiks to tho national, Mate and inuni-
r itlie last tear js I cipal authorities, have been a gret aid
... . . . e. 1 . .. . . ' ... r. .
.r oi me .uiui ! in relieving other property irom tiie uur-
K'.'f the propoi- den et taxation, and, iu the xirzrotfalt
i-itir licing ittioiit ! are more than the iulero.-t at lour per
II'
I'HM
"No money shall be. dfaWu frun the) 1 he buliioui pi-di
Treasury,but in cousiipfen -e of appro j f the V id cd t ate
pnations made by law. '! ;l j estimated by tiie li
Ine reserve lund created by the Ke
sumption act could not, without further,
legislatiein, be applied to the payment
of current appropriations ; nor is it to
be presumed that Congress will omit to
provide -ample revenues. to meet 'such
appropriations. Therefore, unk- fx- ! open v-1 j'.r Uy ik
isting law, tte notes reeeivo-1 "V; --i ' ti m in . 1 In f pi it est.
Treasury in exchffnge .owi ' wiil j enimtte- thojcoi-i ;i"n!
always be available for the purchase j Oct. :l, ls7oJ;.t s;!o ;7
of, or exchange lor, coin or bul. ion. ; and Ul , I ',:; ot -livkr; the bullion , (.iiiee the iis'ane ofi the act ol J.tuu u v
Any. c uiicu ciaies notes in mer iroas i in .Mrnl amiitiie Aew ork Assay yi
urv may ue excuangeu lor coin u-mier ! lice at ih it ,i-tu
l'recedii:g vear, the large amotint of iiou-t
iin the yield of States boud he'.ej bv thei
producti on U ; cent, on their entire circulation, l lm-
taxable I niied
111 becariie tax-
wu.cli was not able, and these taxes are in l ib ct pai l
rea-ed produc- 1 for the franchise they enj y of t-Mi ng
Ihe Ibreetiir ' i-iri-iir:ilin. nofes i
I tie country on - -
.l '7 of gojd, ! Tlie circulati-Ai of the banks wiiuli.
1-- .:.-! . 1 . . i :
10 :iv u h i u neerta iin . 1, i r- .--t : . i n- r
dran ti of the.-c no;-.,- ai ii . . . 1 ; t ' if. 'vii; 1 1 --. iri thi ounct-riotl. to the 1 "fully refomniendcd tpiatlby law th re- t have Wvr. .
practic.iili- in i e d c.-ii-i-li r.t -, o ;;ii ' ". i - - 1 -'J-, '-iljj( 1 1, lO, j suiuptioiiifuud bo speci'i -ally 'delincd a e rei.: 1
-and set apart tor tlic! 'redemption ol . cxn-rt a id
atv 111 i;
per: a.-
alliii..mc;il t t.ie upjcit ir w ni'cii i.tjeS'
were provioe
The Secrel
"Tho bgal tt iidi r ciiui-e, ctvis
d'.tiona! 1 : 1 d ;t -1 sar.c' i-01 t.f ti.e
.out ti n. !- to unfair c s; lidt 1 ce .::.d
create feai- il' -oveti-ue. It w .' is Itl
seem, tucrtb'to. U..U i.w aiul
llio n.ainti iKir.ee of ie-un.p:i.':i
itouinn- in- purchase or payment 01 1
per cent. I the entire debit of the
I r.'pe l . St ,tt'c. within - each fiscal year
after the l-t d..!y of, Inly, lStl2J to bj set
apart as a .-inking fund, and the inter
est in like ni.i.inei' to be applied to the
pure!: i-e r payment of the public debt,
a.- tho -1 r, t.iry .-I' the Treasury may
: i in liiuf in nme dirict. These-acts
k'i'iii " ( a"' ''T1'"'1' '! itnpoMiig upon the 5ec
.' 0 I Ve.t..itv. the duty ,1-1 providing for the
' '7 - .-irt its' mud ut of tho si rplu. reve
u ta.i.i ! uuc- 01 -the vcniHioPt! It ha b;4en
United States notes, niul that the inotrs ' L'o'd .m.l -i
1 ! 1 .11 . , '1. , -! " . -
reuecraw gnau oniy ie4 lseueu in ex f aris a:i l to 1
chance for, or purchase bf, coin or bul- siderablo I u
lion. The great convctlence and easy , ' ductiou ot
transportation ol notesri ;has thiis'.f.ir ''av.iiI.ibio i
enabled; the Treasury t.yejchanje them j. tempt h.i- :
for conijor bullion at allth centre 01 1 aupi'.jnt
production : of gold and 'silver in thi j tiie 'New
countryj, and iso to paor large sums nih s tlie p
of foreign coiu at tue v-ay Ulli.e in j.cons'iin-d f
.. .. 1 1 - . j , i; r.uiid it 1 mi 111 iil if:itr -ii i
u-e.e-s aiiii . t j. i ;...nauic assert ,.n ta.1.1 nue- u -the --vt rnnienr; It ha b-en on the resumption fiimif and it i- he- i ,,. t
ot power, which Congiess npgi.l iiVj-:mp-si:c to comply' with Jhcse re-1 lieved that (hi yedjjuljiry exchange ' irtdics', -- :
rtoieal n'n I .'..t' .. ,,-.':.... .,- 1 !li i I Cili' ' s vl 1 1 11
aloce.' When il i- coiishie.-e l tii.u
cihis;i:u.iioii.iiiiy is Miioit-u- i . ';:i -:"i
and that from its tiatui-o it is Mtt-jeei
ppcar tu
s:;e:
hi ad-ii.'ics
the authority of 'section 15,70'J of the
Kevied Statutes. When notes cannot
;ui! the Icvuug of an intcrnai tax upon f be used! at par for that purpose! thev
must, iuLrssn,riiT remain in ine ireas- i,i't).'. 1 lie c
ury. ! . j, the c'lnfy
i o.i' rv i . '.tie atuu'ion -o In avoid all uneertamir. i; i r ,!- ,!iiit
a v
am l'iinte l t ( s-P''tl 0
?4."m: I nf -r.ver, m
ainouit -of ciiin an 1 In
tun 1 1 n i ir o
it i o v i v e
i s
::u
v.-r a
.n!i
'or i
lIlCi tllilll J(
r eirs lliai I
en !'i i ij- !
si-.-d lr n
rk -:--y
Hi' ip.i p i
r : ;i r: pu
ei.i'fil'ji.-.
Biting colli
iio.n, -lSl,t'
, the
i t;:n. i- a
.r, ..iii't,,!
red 1 r .'ii e
Of- ; 11, 1 si7", lias largely ik-crea-ed, is now
agf, ! iucrea-ing in ; its aggregate -amoutit;
j. .. i , - . . . i . . i
ana i gnow ing tuai inei
total 1 nromotlv let ihe v t
It - i
Jl.- ot bu-iness.
specie iu ' The aJ vantages '
grave ah'.we it.ws'tild mn
ie to w :;1
power, " A;";,!
that l'i"e coi.tiaj.
v juii'om.-:!' ibiiing tlie p.l lew years, i will, in ordinary tiiiieil furnish t,ti-: for pui'p-.0
',, ing t" th i. s- ui icvcnue coiiheipaent I Treasury with all the jcUfi netessar-v, ; ! aee.-j .. . -t
ii ,
to
i . iia! depression of business U .-ouU oulr Ag . ,.,5,,r4.rv , !
' - i Mint rl- I .ii t I h I . I . : ! 4.
nut. Mt;v lit i.ir.... a rtVft I.L..I. i.
t. r iiu i .1-1 d revenues r nlariri" 1 .,.;. ij . s. ... i . .
. II ....... ... ,,...,4. V I US lltl ;
fk '
.;e-1 e. c-0 oi. l i i. :i a
ieC' niiot iei .
e ot silver -'-.ni l i c.i
ii.. . ..
ir.t! o.'s I' r l in 1 1 ai il rt venues rn larii .n .. .i 1!-AW .,' . "' . '
.i -
fc tu tno- rent w eel aclivitys in all , ,., ;., r......!-IX,i i... . l :''' ' n
or.uich. , . j.i lu-e'v. h M-enis proper , i.t i.i.r .t...i.i i:kt ..... Ji . .
-., - - v.. . ,l .u',,.vi; i5- uu h;i k"
..:'. i m iiurt -i ii. "a i.f ' i . . ' ; ; 1 . - i . i .
...."-V . , l0.-ct anv extraontinarv; a.-m.tn.l f .r th
at: ti.;- I.
. ii ' ,
il Uappciinl .'
a ir... 'r.tv el ;i,; ;
are thr.t i t-.etc -!..
at a-.', on ll'i.tlie l.l,
I
a fc at--;- a 'U alt 1
'.e iesty'. At ,S :
;i : i e i .. !
;M;i.'t.s
( . i:
a. i.iu
. i
- m, ct.nc to-.-. b.iga.i-.ns croae4' by 1 cse j rcdcmp io ofnot4l micht pi , .
. cr- is i. ,;,d that -V.- bljr J.;;. The Secreiarl i. l,ereforo ' t. ,
Oc n-.u.i l r mu: purpose , u, ,h'c opi,,,:,,,'" uii the! pruti-iori ot ' f?-dui.n.-
tnc ue.xt year, , Uxiini'law flr an,, cnaLie lLo . . V
i i e .-h: i. tear' e.tiN .5 u m. t :-n to the tLpjrticii: t maint.ViSi r-e-umpti.iii, ( ,, ;
r-M. ,,,!,!; i -! ' e . vp. nditurcs.and ' eve" lf'tf ;Wol vojme of I'nite i ,iu', ,-t'" ,
V.I
it
it'
.11 It
t !' ti 1
lit, u
Ilium r.
I" -
ikt
a'.i!-i
r i ' cij.
; i-uie note, l n viar itotiv.v
... .i l.l.t
.; !. !
v.tii pruicp.r-
i ii -i'; ti.i . '
A'-.ii
piikiii -
i. .
iii.i
u i
Thi i- the fourth time the Ctif ha
vcaped a-av-inaiion. In l.i -pctch
tt tlu committee of reception at Mo--cow
he stj.l tuat ho was anxious chieily
fur the welfare of liussia. that had
placet! liiiueif"in the hinds ol 1'ruri-
toe ri Ci uiiiie ;ui a '. :
and the Sec dart.
in it. d that -lac ."-upi. rue.
llttcriit all i j i:.i. :p .i.- i,;
it: a;i
- I i I
ui!! be
I'll
.ik
ne 11
Ui .!.: I : 11
. ; ,c c !!;:: -
't: 1 cm :a m t
t
IV s
at
.ml tiu i
in
ays . a;iv svs'.em o! lei.',.
r l arethst :b-:r cireu:
i:i- eurfd b.yof.d .peril
.lit', tnrv are t.1 uaivi
oi , c u:itiv wherever i-m
11,1c pcrieetsy preiteciea ir.im ooiiuicii r.ior
on- ; th-y -iUH'ii' exeli.tntes between dis-
ti
t! 1.
te
'. ( S alt
hystcm rcsoinls
ig r'-ipiiremcnt
uii.re
- t l'-.:o-l
..U'lllli
v ii . d in
lai-.u.i im
Ii 1 1 1 " l lie
r tiie sptcie proitintlv r-deciueil t:
at- ' tominou place, the
tli- j.-ct to a strict and vigilant surveillance j
ol by wvbpnlnt otbeers o iln govern-;
nieui; -ttieir con lition i lu.pientiy
n, a. nl ,ii
' a 1 1 v at
th r, e ..-.!
'"p'o. vln.-!i
in if, i i
catli.-e ;
crei.t .
o. I aev ar.
HI lit! a 1 ,
l.onn K:tiiey.shuw t or (lo un Pui,
l-joiey t,xuusi'ju t.ar-iop!. 1 1
iitalen..... vjt---4 ' .. p.
e.'en' s C'liy x, AineUiv hi Or UM':itMit ve
lilltlOUM.
tlnyas.Ainetlijtstor Tpp.ii rsiHtii
si uas e.
' I'Jiiifrt anil other -soue It.iiv i
lam..:
Ili'itvy , laiik t t lmin
i leu in .,.
I- ir l iin'Si jo Kiiifsur ',n.
Any 1 ivo ol tin' :ttov' atlti-;i. s wu, i
"nt illoil free lo nn) a lilroM-mi it.ini
ol 1. 1 Hi. i :
eient's l.onc New Sit to V h ill, imj
I'li.trm ...
Scarl Kins hii1 1'f.l-. Nih
s.l It's ntul K U i I- in.
lUat y "sit s-touO. a.l .Oi.
r-lu.ls , j
i-l I Jl.lu"' t it 111 l X. A lltt.l l l: ,i i ,
Onyx slu-vi t.iill.ni
hi-I .Helu s' t iimeo. A i:i : Mji .i;, -.
.itfu r sMoiie ll:n-:v r
I.;iltf'-' I. o'li; : -'..I i'r l ,.li. i ;:1 I ti,,,
1 xl i t I ini-hni i n v . :u ; i,
;-il.l r.rjtiavi .1 P us . j
llMrn l-':iil-ltoil t N. in-, t 1 -st i.
ami laiil-ivi-l P.o l'i..- !
'r I ...ni; I'l-ol .1 i(-Is ilavil tli
l--jiii.- N ii U t tiAin aii.l i !i,..n
,n Six ui i In ii'intr ntii,j;i ... r.' f...
li i.i Hi- I Ii i e on 1 1 r. l('t ot : ; "
t leitl - S.ittl.tire or t'lus't 1 1. ii i .. ' . ,
I Pl.tumiikl I'm-
1 " --. it t- Slon... A u.-l ij.i' I i ii- I',..
I Hum I --luK . .;-
' ft.,avy ttre s..; iptin .- i,fi!.t
i - I i.tii'l 'iaiiouul t- i. .--i i,.)
: ' l'utt- l-'iiii.-hi'l t.niii-: l.U. l,
i li.ini .m l t h.ii in...
i l IV N'l!-y llli. I I lil. 'l Vim
s.'itt l Knu;- nml Pin.,"
I " or f.a'liv-' I'.ituiM, tny .i .1
A'niel hyst slft'Vf I'.iiHi'i.
I,i I.. .- l.li e.M-itu Ni-cKl.i.-es. i t
: 1.I12 iipoiit an.l eiu ill ! :l . ; I
im hi a v
Atisliallali I iu n l nii 'l .:!, t
I mii'v Pi us ami I ai i ii ... t.
' St. .nf -.-', an.l ol lo r i .mi .- " i .:
11 lis '
Ilvy l-aiiirv t-.l .. kf
Mm in e -
" e'li.i.-nt lii .tt eit 1 l.i.i.'.t. . .
htit y ....
Any Klvht ill llic iitum i...
ni.iv uleit will ! Il;l' . t ;.. . ;i
Irt'i on rt'iTipl nl f i ii
t i ll.- Fancy Nick IT ' X, ,
lion i hum. in l .u; i i i.uii
Ji vyel t ,'i'tln S.
!-oni tpfl.t t liii'l -,' ti 't m it !, .
mi! -Sliile U I 1 s. 1
llraty lir-i- M uiaiuii- M J .
l:ou Livkil
1 1. -av v .1.1 :.. I . H I li . .
i .tim.iMe.laih.ini Pui 1 l...
i ! : i
' . i l ienl k M i-H P -- s; i.i ,
P ... u: I , ! ;
" ' ! .i. i.t v I ' urn rl -. - !-.-,
i. tli. -i ui t ',i v .';,!.
,l..'i it p.. .':;;..' ...
i-i t in
! - I' ' lO I I .
jll!l!:l
ot t.iiU i"aiin..t A . ti.i : i.
till V Sl.-A. 11. .it
pr e tint-' parts of the country; lin y aio , to to lu .i ltoi; laa Ma-;t.
, lit,. il. .: . ..
t lntir or
demand a', !!
b.iuls arc -ub-
S..C " ;U ,
fur-
rl o! up: tlll.li j uiadr nonn to the public. .He! thev
e-, an l l-rom : cititrib Jt-e a verv lar.j p. rcenlage !
e ten their prt.riK in the tray f i.tso-. A
t ill, system of banking that, alter an e.i-t
Iion ence ot riitcen jears, ihroiigh war and
U in peipid of great mlUtion and grettiic
r
i r-rs. 'l"h
iph I - ill d
il couvni'
I C iU Igrt
l-ii.:C llli'U
I S . :l
ail- n'i n to
lt!,,!! liu'. i,-
1 ill I l '1 ,1C t'l
i- i a i l
c.i!.- tiie .it
" MU!' Tt ll;c
1 1 ,. tht
A lf I I' 411 I '..I I I l. -LI
-loir aii. I I .in- .i a : -
al..) I i 1 1 4 ;
St !)! i. i 1 1 1 1- r..M.tn;
kl i i - . i ; .1 r , Si
A t I'll oi 'P.- !,. .ui. ;. ui
r! . i , 1(, p j i , , l i l
Ail ; t !, ' - J . i i i t v . 1
ll!,'(i.i.tjcllii . , u i 111 i . . ...
m tin-ii ; im I ii si ii; , : ' , . .
re of ii urn. h ittirr .jiiiii't. .. . f
H..H. I.-- i'i li-at r. liiiu ll.i - , . .
i i ' i i
I .1-
l.
m i. ii-
tc
cn
ue :
I i, ' s. 11, IV
I iti'i ! !;.-. itnd
: io:i "i the gotf
re hot n br ihe
va n,- of tic
ii i
t!t.
l,t 'i-y-ue -noli , pa;vr, -ccpt
.i
a .
I liu .;--,;:c, er
i i ii i ul t'lm . .
... i . . .. .
i i .t . . t t. . i . ii t.t..- ni.e
ivuc, iiiii uiantoii iiau iHiM'mu nun. ' .. i , . . ,
, t - : . ;,thfn agaui the vid
A U-p.l!e.l IfeHU 1 tldianpeiis jy- C t re d lii.'.t iiu. u . ..-.-.t ,
tht 7 tiere tmigrafits arrived t'.ure j lhi niru:uy' i.t;, i.i..iit ,
and wcro As-ijnc.! comfortabfe 'vurtei-t, j ifgai lci.d r, n.-s dfi 'a?,,1 to (
ami were aKecwara- n.trtcd lor. taoir
ucw ho'uicA, Win; Ji-Uibuted betwtcu
Uutnim anil Wajne Counties. Thev
ntrt fta ttoUboro, North Caroknji
hi; i t;iS
.--.te
tot.
1 I
Tc latest Su.tV.0 .ah. I i.ulerM-t-ry--I
Kuthrrlorvl ct-unty. North A'rv!iaa.
' onie" on tilrt an
Vtr.lCO tti;h
'our!. aud at r.. ..,. -.i' .
wt'l Iv prcti-rd to a i'n t. .
trote iiLr.iit.vl th: 'ti.e scvr..I dec.- I '
su n nuy be rcti-.d.
l.ue I'T'.trr ' opn.toa i.l
vtN currt ncy
I -'i -.'. !.' P. ej'j; al !n-i flir th
. .... ,
r. -.iai j i i oi ; .-j t i- pj u.i;i,-(jrvii4rd
to; P the ,.-.: t i ite.l ,)4li. Hs1i7.V,
'' n - :!-: i:.....:;y Cfiw'ctftl. O.i
' t:.c !.-: day of JatuMry. isroi te day
i v l S r the ri siiuiptu u ol spyyie pj y -iiutii..
lac ii'sf. t t. ui; uycr aud
.--.above .. . l.i.i o-l obiSiltti
yi" - 1 -f. IVevi-t is o tht time, in
. u-.v ef n -ini.ption, 1'nitl Staln-s itolr
1 o.:i !. iritty r.-nitcii aod pakl
p .. .- ljt!ii- s oi iiii!rii!i.
A t . jii i -,t
l... ' v. . . .
' Vi w
;"5 -' Ip-.l-. . C i e I !. e .1 .... .. i. l ,-i , w . " . , , ,'
IMr,T"s-. ' and in his w.ty gmd.iil tiTfdu-e tSJt- .. '.. . H
:,.f i 1 maximum of uch netted to th.. sum .il . ... . , - .
' : 1 ,.kV...iJ,,w.t .. . . . . '.latf. i.I mi
of r.-nmption and ! v ,,,r irav. nv'" "X U1'' P'-l-' th.-,-..,.
; K.ll ill tit Inn .
i I i k it. .." ... ... .V
1 UtUIM'l I (- I tUi iy C4i!9 till" ,Mf .
inoiia! reixtrt . attrnti' n of , CP"r s to lb.- omi'ion i...
. J. .C-- I.,,.,- M,
wneiuti: i iiuv.r 3utf4 niid iugat
j!i!l lo . j n gal' tcitdr r jt llir pay tn-fi
ofticlt.lv. k'j" p'it-r ui Cvn -'isv u
male the ui smip w 3Mptd rvjf tu- ,
Sr i JiuriPf ihe wr, jiiij a uptu d
by Ihe Aiprct (urt. lle poWrr ;
rriur in. in in Dior ol jjcc, r
tujr 9"s oiM-f r-iro. t .iil on
U U-U ih lLt I
jrold nd tilvcr mm
TtdilAujia lb Miul. ami oinrd la
t-uriurtj at lit ' cuntenh nl frm an 1 dfMga in-ii
? ms f!t:lil aui brtito. l'apr m-ut-T
';
Ne .t-itfcin l;a Im r n Bud-
tuat ,kU ttiituii
rLat - : U - ia
Y e:l ri
l.S l 'in , ,
i
!:- ' .; 'i -t.-'-, p.
- ':': e ;...-
ir-t':a v4;
Vi.tn', . 1 Joi ,i .,;
t it. 1 r I t ., r : ,
t- '. i l .!-. ) :!.
in in'. i .'oi
P ?
I-
'-...t.M,
. --.ry a:- that '
1 ft a .pi red to :
II. t '
- Ot e:i fcc-.i at
' t".i.J ,u rr -
i ' . its bullion 1 '-s-Vr' ai .ta.reii p
hh a single -i!trr t "' si in ! ' tin. i
C rcsillt W kiubi j The .rt,lMtt .i.r.,..- .
... - ,
ill'
i .i
'"ir
otf- ...-' .
."'nn if .i i:t.
y-u t,
:. . ;lt
i
: i.il n :'. hout dt- l a ivli:r o i ig. h nm . ',
r rriiate buinrw. Coirmitiittooar 4Ai- -t . r.l
a miu'- uoef ) raiR9i;iu iwue ol 0Xe ooi Uf ar-a i
5 - -64 lttttc4 ; ta:rrtL U W i a uri at th car.'- '- lf 1
.uk k-twiMi i ,urj,l niiiiiej mtiian, I3f fturi uhi,s ingr.: f a,
.1 i t. . i
. AahetiUe J.-r. teiUitf an adder that " at - uvctufa. wiau i I'- .-sro.,.. w ..im r,-f0i jrf ra wr v ite. . , ... , ,
' i f . ' i i uhtmaVr -c'i ',-x i ' ?H. Vr . wliU .itWl, T jrrt-al I pirmmfnt m. u,! L i .U
he.itt length, and hiea.urtvl ltMf"lM' -; - wr sa . arr vr . a a iiit.d .-.Ate nvj altW a: (mMWmmn A -r :A trh 11 Wv i
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