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Resumption of Specie Payment; A Series of Letters to the New-York Daily Times

Resumption of Specie Payment; A Series of Letters to the New-York Daily Times


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1873 Excerpt: ... have touched par, or a point near it, but for the mistaken policy of the Secretary. The October statement shows that while his gold balance fell from $87,000,000, as it stood Sept. 1st, to $80,000,000, as on the 1st of October, the portion of the coin belonging to the Treasury increased from $42,000,000 to $46,000,000, and that while the coin certificates were called for to the extent of $10,000,000, the real gold strength of the Treasury increased $4,000,000--about the amount of his customs receipts. Before the meeting of Congress gold will probably be floating at par. The Treasury can only absorb a moderate amount--the balance must take its chance of the market. It cannot escape us, unless we again inflate the currency. The Secretary may yet find no better use for his coin than to redeem the amount taken from the famous reserve. He cannot use it to a better purpose. It will be for Congress to make such legislation as will then authorize the Secretary to withdraw his greenbacks so fast as coin is at hand to replace them," and thus take the final step in the approach to specie payment. There can be no doubt that the Republican Administration, which has so steadily held this object in view, will not now fail either in the wisdom or the courage to complete its work. Knickerbocker. New-York, October 10,1873. Letter No. VIII. THE TRUE PLAN FOR RESUMPTION. The temper of the Press which, if not always ready to lead, is sure to follow the drift of public opinion, shows clearly that the question of specie payment has lodged itself in the mind of the people. There is a wide-spread belief in the present practicability of specie payment, and symptoms of an anxious longing for this most desirable result, accompanied, it is not to be denied, with many a sign of dr...


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Product Details
  • ISBN-13: 9781151555946
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 24
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1151555940
  • Publisher Date: 17 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 64 gr


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