OCR Text |
Show President Ubant has delivered himself of a long opinion in conversation conversa-tion on tho subject of the immediate resumption of specie payments, which he thinks tbo present congrcsa should authorize by changing tho date of the resumption act from January, 1879, to March, 1877. His principal roa-isons roa-isons for this opinion are based upon the facts that the balauco of trade is now in favor of the United States, and that we aro receiving large amounts of gold from foreign investors in our public securities. Business has reached its lowest p9int and its revival re-vival may now be expected. Our homo manufactures are now patron-Ecd patron-Ecd to a groatcr extent than ever before, be-fore, and everything, the president thiaka, is favorable for tho redemption of the legal tenders. He suggests the issue of $100,000,000 of 4 per cent, thirty year bonds to bo used in funding fund-ing the legal tender notes. It is thought tho president will send a message to concress on this subject within a few days; but it is not likely that anything will be done with it. Tho matter ia one upon which President Presi-dent Tilden should bo allowed to concentrate con-centrate the powers of his mind, which will result in a policy that will do to tie to. |