s, and which the law
requires shall be received as well in payment of all debts between
citizens as of all Government dues, excepting imposts; and, third, gold
and silver coin. By the operation of our present system of finance,
however, the metallic currency, when collected, is reserved only for one
class of Government creditors, who, holding its bonds, semiannually
receive their interest in coin from the National Treasury. There is no
reason which will be accepted as satisfactory by the people why those
who defend us on the land and protect us on the sea; the pensioner upon
the gratitude of the nation, bearing the scars and wounds received while
in its service; the public servants in the various departments of the
Government; the farmer who supplies the soldiers of the Army and the
sailors of the Navy; the artisan who toils in the nation's workshops,
or the mechanics and laborers who build its edifices and construct
its forts and vessels of war, should, in payment of their just and
hard-earned dues, receive depreciated paper, while another class of
their countrymen, no more deserving, are paid in coin of gold and
silver. Equal and exact justice requires that all the creditors of the
Government should be paid in a currency possessing a uniform value.
This can only be accomplished by the restoration of the currency to the
standard established by the Constitution, and by this means we would
remove a discrimination which may, if it has not already done so, create
a prejudice that may become deep-rooted and widespread and imperil the
national credit.

The feasibility of making our currency correspond with the
constitutional standard may be seen by reference to a few facts derived
from our commercial statistics.

The aggregate product of precious metals in the United States from 1849
to 1867 amounted to $1,174,000,000, while for the same period the net
exports of specie were $741,000,000. This shows an excess of product
over net exports of $433,000,000. There are in the Treasury $103,407,985
in coin; in circulation in the States on the Pacific Coast about
$40,000,000, and a few millions in the national and other banks--in all
less than $160,000,000. Taking into consideration the specie in the
country prior to 1849 and that produced since 1867, and we have more
than $300,000,000 not accounted for by exportation or by returns of the
Treasury, and therefore most probably remaining in the country.

These are important facts,