P. Jones of Nevada advocating a speedy return to specie payments.
This measure was designed to facilitate the general resumption of specie payments.
The Celman administration, in violation of the trust, then sold the specie and squandered the proceeds, leaving the provincial bank notes without guarantee and value.
After the close of the war with Mexico Green was sent to that country in 1849 by President Taylor to negotiate concerning the moneys which, by the treaty of Guadalupe Hidalgo, the United States had agreed to pay; and he saved his country a considerable sum by arranging for payment in exchange instead of in specie.
Formerly import duties were payable in currency, but in 1899 it was decided to collect 10% of them in gold to provide the government with specie for its foreign remittances.
