There is strong reason why this is the very moment for this effort. According to statistical tables now before me, our exports are tending to an equality with our imports. During the five months of July, August, September, October, and November, 1869, there has been a nominal balance in our favor of $1,752,416; whereas during the same months of last year there was an adverse balance of $32,163,339. The movement of specie is equally advantageous. During the five months above mentioned there has been an import in specie of $10,056,316 against $5,273,116 during the same months last year, and an export in specie of $19,031,875 against $21,599,758 during the same months last year.[222] According to these indubitable figures, the tide of specie as well as of business is beginning to turn. It remains for us by wise legislation to take advantage of the propitious moment. Take the proper steps and you will have specie payments,--having which, all the rest will follow. Because I desire to secure this great boon for my country I now make this effort. The amendment was rejected. * * * * * March 2d, Mr. Sumner’s bill having been reported back from the Committee on Finance with an amendment in the nature of a substitute, he spoke in review of their respective provisions as follows:-- MR. PRESIDENT,--The measure now before the Senate concerns interests vast in amount and influence. I doubt if ever before any nation has attempted to deal at once with so large a mass of financial obligations, being nothing less than the whole national debt of the United States. But beyond the proper disposition of this mass is the question of taxation, and also of the extent to which the payment of the national debt shall be assumed by the present generation, and beyond all is the question of specie payments. On all these heads my own conclusions are fixed. The mass of financial obligations should be promptly adjusted in some new form at smaller interest; taxes must be reduced; the payment of the national debt must be left in part to posterity; specie payments must be provided for. The immediate question before the Senate is on a substitute reported by the Committee for the bill which I had the honor of introducing some weeks ago. Considering my connection with this measure, I hope that I shall not intrude too much, if I recur to the original bill and explain its provisions. There are certain general objects which must not be forgotten in our present endeavor. I have already said that the taxes must be reduced. Here I am happy to observe that the popular branch of Congress, in the exercise of its constitutional prerogative, has taken the initiative and is perfecting measures to this end. I trust that they will proceed prudently, but boldly.