The approach to a specie basis
is very gratifying, but the fact can not be denied that the instability
of the value of our currency is prejudicial to our prosperity, and tends
to keep up prices, to the detriment of trade. The evils of a depreciated
and fluctuating currency are so great that now, when the premium on gold
has fallen so much, it would seem that the time has arrived when by wise
and prudent legislation Congress should look to a policy which would
place our currency at par with gold at no distant day.
The tax collected from the people has been reduced more than $80,000,000
per annum. By steadiness in our present course there is no reason why in
a few short years the national taxgatherer may not disappear from the
door of the citizen almost entirely. With the revenue stamp dispensed
by postmasters in every community, a tax upon liquors of all sorts and
tobacco in all its forms, and by a wise adjustment of the tariff, which
will put a duty only upon those articles which we could dispense with,
known as luxuries, and on those which we use more of than we produce,
revenue enough may be raised after a few years of peace and consequent
reduction of indebtedness to fulfill all our obligations.
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