. . . ? ' r ' '
mm mm.
RaCpSBaVSrMM"M 1 1 3Ba8HRBSfafliHHMBHM
as
NEW SERIES
SALISBURY, N. C, DECEMBER 18, 1868
VOL.
Ktas
- - - -7- it mmm -unBnj
r it or Mnucftirriuv. -a
WATCHMAN OLD NORTH STATE.
, im turn
H.I
at.eu
i.
TW WEEKLY OlU NORTH STATE
t.-0
Kcli
frl W-s-v,0. Tea
Pwddent'i Mewsge.
Was BiHOTOir, Dm. 910:50, A. It.
An mmiBmtm mf Repretentatitet .-
Matioa to lha Stale of thr Uuioa and to
to eMikvaed Wfigintoit ila nndcr
iba imlm bam which have bans Mated
mt tke MthtoM of rwMkmiwi. It
. ha mMt mmwmI a aa aakttrte Um
garanuwaa af Ktataa, that tha greatest
wrong inlictod apaa a aaaato are oaaed
by anjart arsd arkkrary Wgtolaiioa by tha
mntonttoj nM at ntnk r ulcr,and
thai tha timely revolaitoa ef injerioo, of
M-T"' meaanree if the fraataat good
thai caa ha cenferred neon a nation. The
LecMlatart ar ruler aba baa iim widom
aad magaia.Uy la retrace hie step,
when ooavtoeed of errar, will sooner ar
later be rewarded with the respee. aod
gratitude of aa intelligent and patriotic
ample. Oar awa bktery, althaagb em
(tractor a period leaf than a century, af
ford aboadaat proof, that most, if not all,
of oar doeaeetie trouble are direct! Ira
ceabla to violation of tha orgauic law and
cicraaive leg ifiation. The meet tu iking
illaatrationa ofthia bet are famished by
the enactment of tbe paat three rear up
meat and femoral in accordance with the
original design ot lb federal coaatitatio.
The act of March d, 1866, making ap
pmpriationa far the tapport of the amy
.L If . . .
ior me year liming June JOtH, IcM8, and
for other purpose, couiaiua a proriaion
which interfere with the l'reeideiil'e eon
f tilulionul funcliou at commander in-chief
of the ai my, and deny to Stale of the
Union the right to protect bmelvr by
mean of iheiruwu militia. Theae Dravi
iona should be at ouce anaalled, tor while
seventy two year that preceded tha re
bellion, and embraced Iba ritraordiuary
cipenniiure already named. These tiart-
ling facta clearly illustrate Uie necett ity
of retrenchment in all branch" of the pub
lie ferric. Abuse wbieb were tolerated
daring the War for the preservation of the
nation will not be endured by people now
thai profound peace prevail.. The re
ceipt from internal revenue and cue torn,
bare during tha paat three yean gradual
ly diminished and tbe cooUaaauce of
the firt might, in lime ot ureal emercrn- leaa and extravamit eauenditnM will in.
Icy, terlouaJy ember tk r.'.incativu m j valve aa to iirml trnhrtaiT nt aaaa
t nnri to employ aim Hired I lie common
atrengtb ot the aatwu for tla protection
and prcaervation, tha other ia contmry la
tbe etpreaa declaration eftbe eortetHnttnn,
Ibat "a well regulated milllia being nocia-
arr to the ecumy of a free Stale, the
right of tbe people to keep and bear arm
ahall not be infriiiged." It if believed
that tbe repeal of all tuck law woald be
accepted by the American people aa at
leaf! a partial return to the tondami ntal
principles of the govenimeuL and an iudi-
ealinn that hereatler iho eonatitiilioa if to
bo made lite nation' tafe and niiawervinar
gokle. J bey can be productive of no
permanent benefit to the country, and
should not be permitted la ataad of o
many laonumeuu of thedrficieat wiadnra
which baa cbaracterued our recent legifht
tiou. Tbe condition of our finances demand
iba early and earnest eouahkration of
Congreaf. Compared with the growth of
our popalatiea tbe pa Uie eipeiidilaree
bare reached an Daprecodcated in oar hia
tory. 1'ba popalatioa ol tin; Uuited
State ia 1790 was nearly four millions ol
people, iucreariug each decade about thirty-three
per caul., it reached in I860 ibir-
aa the aurelbm af reeotMtruetion. Alter tr-one millions, an increase ol seven hun-
, .1 I .1 l. . . ,: .11.. MUlflml MlMht .in ltf lyuni I . I In I 7 Ol I
Mir nil luer un iuufiiiiMiii r - - " .
arid araved pernicioo ia ibeir result, and
tbaraaaam be no goad ariaoa wly
they fhould longer remain upon the tal
ale book Slatei te which the eonalitu-
make tiieritable an inereaaa of la zee al
ready too ouerouf and iu many reaped
obnoxious On account o their inquisitorial
efcaractor. One hundred million an nnal-
ly are expended for the in Hilary force, a
large portion of which ia employed ia the
execution of lawa both unnecessary and
uneonalitutional. One hundred and fifty
million are required each year to pay tbe
interest on the public debt. An army of
(ax. rather impoverifhe the nation, and
pablie agenla, placed by Congreaf beyond
tbe control of iba executive, divert from
their h-gitimalc rrurnnrx-s large sums of
money, which they collect from the pea
pie ia the name of tire government. Ja
dicioa legislation and prudent economy
aad the payment once In every tliteen
ycara, at tbe present rate of futrret t of an
amount equal to tbe origiual sum. This
vat debt, if permitted to become perma
nent and increasing, must eventually be
gathered into the hand of a tow, and en
able them to exert a dangormia and con
trolling power in the affair of bf govern
ment. The borrower will become aer
rantf to the lender '.he lenders to the
mailer of the people. We now pride our
selves upon having given freedom In four
million of the colored race. It will then
he our abaute that forty million af peo
ple, by tlieir own toleration of uanriuttinn
and profligacy, have suffered tbcratelvr
to become enelaved, and merely exchang
ed slave owner for new fork-master In
the shape of bond-bolder. Besfdrf. per
manent debta pertain to monarchial fov-
erameat aad lending to monopolies, per-
peiuiucf ana class legisiaUon, and are to
tally irreconcilable whh free inftitationt.
Introduced into onr republican riem.
they would gradually but surely sap its
fouudiitions, eventually subvert our gov
ernmental fabric and erect upon ila ruina
a moneyed aristocracy. II is our sacred
vigor imparted to every branch of indus
try. Our people need encouragement In
their effort to rearer from tie- effect of
the rebellion, and of injudicious legila
t on, and it thonld be the aim of the gnv-
eruiaeat lb etimalata them by the prot
pecl of an early release from tha burden
which impede tbvir prosperity. If we
cannot take the burdens from tlieir flinul-
ders, we should at least manifest a willing
ness to help to bear tbem
In referring to the condition of the
circulating medium. J sbali aterely reit
crate substantially that putUou of my lee
annual message much relate to that sub
ject Ilia proportion which the enrrenc
of ny country should bear to the whol
Value of the nimtiitl produce cireirbrred
hy i s means if a question upon which
political economist have not agreed, uor
can it be conlrnlled by legislation, but
must be left to the irrevocable law which
everywhere regelate commerce and trade.
1 he regulaliug medium will over Irresi
tihly How t those points where it if in
greatest demand. The law of demand and
supply is a unerring aa that winch reg
nhilca the lidee of the ocean, and iudwl
tic. Tbe aggregate product of precious ' dred aad sixty-aiae tbouaand fix hundred
metalt in the United Slates from 1640 lo aad lolly-three a sine were bo rue an Um
1867 amounted to (U. 17 4.WMI.000, while, pension rolls ; aad daring the year eadtog
for the same period, lire net export of pa- on that day the total amount pud fur pen-
cio were 9741,000.000. This shows an alone, including the eipenacf of diaburve-
exees of preducloveraetoport ofJI.'tn,- meul wa 9X1,010,982, being 94.391,0A
000,000. There are in the treasury 8103,- greater lhati that expended for like par-
407. 985 in eoin. !n eirealelion in the poses during I be preceding year.
daty to Iran mil . unimpaired to our pot-1 currency, like the tide, haa its ebb and
teriiy the blessings of liberty w hich were H"e throughout the commercial world,
bequeathed to us by the founders af our I At begliiniug of the Rebellion the
fail i who are lo follow aa, careful
, the danger which threaten
dependent people. '
Varioaa plan hare been proposed for
tbe payment of tbe public debt. However
they may have varied a to iba time and
mode in which it fbould ,be redeemed,
can aloim remedy dclecta and avert evil Republic, and by our example teach those ba k ",u circulation of the country
Wbieb If mo -red to exift, and cannot
to diminish confidence ia tbe people to
wards their political institutions. With
out proper care tbe small balance which
it la st i mated will remain in tbe treasury
at the elose of the present fiscal year will
nnt bo realized, and additional millions be
added to a debt which is now enumerated
by billions. It If shown by the able' and
comprehensive report ol the Secretary of
the Treasury that the receipts for tbe fis
cal year ending June 30th, 1868, were
llv to avoid aran'Tmrn to ml imreh more than lw
a tret and in- uul" 1 millioin of dollar. . the
emulation of national Bank nolcf and
these known aa "legall lander," U uear
ly seven hundred million. While it ia
uiged by some that this amount should
be ii it-1 cased, others contend that a d cid-
t here teem to be a general concurrence!''' reduction is absolutely eaecnlial to the
aa to the propriety and justness of a re
duction iu tbe present rate of interest.
Tbo Secretory of the Treasury, in hi re
port, ecemmendt five per tent. Concre
in a bill paefcd prior to tiro adjournment
best interest of the country. In view
of theso diverse opinion, it may be well
to ascertain the real value of our paper
issues, when compared wilh a ateUliieor
convertible currency. For l hi purpose,
let of inquire how much enld and silver
I repablica. form of gov
-rn ascot have been reduced lo military de-
9405,738.033. and thai the expenditures
Iu lfr9 it is estimated that it will reach j for the same period were 9377,340.284.
Unit i -curat millions, or an mcrcaae of leaving in the treasury a suriilos of 88,-! foiir and-a hal per cent. Whil
eight hundred and sixty-eight per ocnl in i i'J',79S. It is estimated that the receipts i three per cent, ha been held to he :n i millmn ol 'paper money now ia circulu
s. veniy nine year. 1 ho annual cipen- ( during the pi escnt year ending June Mill amply sufficient return for the in vestment. Probably not more than half the
diture of Uto federal governasenl in 1304 j 18C9, will be 8341,39,808 mid tbe ex- The general improviaao aa lo the exhor-i amou,,t of 'be latter, showing tliat when
on the 27tll of Julv last aim ed unun and i
... .r.. r. r u i . .. ." . .
hy many i c"ki oe purcnasea by tne seven hundred
pendencies, iu each of which the people b.llar. In I b-'D. eighteen million two
have been avade snhiect to tbe arbitrary j bamdred tfoaaiid dollar. Iu 1860, lor-
waxof lb eoaamaimhir roarraf. AAha ly one millions, la i860, sixty three
the eotakkalion reemirea that each tate million. In 1865, nearly thirteen hun-
1 urea minions, ana in ibo'J it it eslimatea
by the Secretary of the 1're.isui v, in his
lnai Mat fW" Hoao and coutrary to the annual n pirt, mat lliey will be lliroe
eipreaa provision of thai iufirumcnt, and bbudred and atxaaay two millmn. Ry
were denied aarrkfttotion la tha recent ' compriug the public disbursement of
eleetmafora I'resMeat aad Viaat Prci- j 1 869 " eeiimaied bv tbe Secretary of
dent of lb United Stare. The attempt . tbe Treamry, iu bia but annual report,
to place the white people under the doiniii b they will be three buadrr-d and fev
i..n al nerarma af color in tbe aoeth ha : IJ mitlioii. Ry comparing the pub-
tssOaarad. it not destroyed, the kindly re- i lie difburaemeuU of 1869, aa estimated
were four million taro hundred thousand peuditun 9.130,142,470, showing a small hituncy of (be existing rate of interest
Ills cnunnillion ntinirni ttmh vwu i,.,..
shall ba represented to Oaagre, Virgtuia,
Mississippi and Texas are yet excluded
Irom lhaavo Hoasus and coutrary u tbe
balance of 95,2)0,398 iu favor of the gov- has led to an iaauirv in the unhlis mind
ii line-in. i' iir uiu huu f rat sriiuiiig i mM-viin i ne cousiuerailoli nnicn I In:
June 30tb, 1970, it is estimated that the . Government ba actually received for it
receipt will amount to 9327,000.000 aud bond, and the conclusion 1 becoming
the expenditure to 8303.000,000 leaving ! prevalent that the aumuui it obtained waa
an estimated surplus of 824,000,
It becomes proper iu this eo im ctmn
make a brief reference to oar
debtedne, which has accumulated with
our paper currency is compared with gold
and silver, its commercial value i com
prcssed in to three hundred and fifty mil
millions. This striking fact in ike it the
obvious duty of tbe Mvefrimcut, as ear
ly a may be consistent with the principle
Stales on the Pacific coast about holy
millions of doll us, and a few millions Iu
the national and ether beak. In all less
91 00,000,000. Takiag inn. considers! ion
the specie iu tbe coon try prior to 1849
aud that produced since 1867, aad We
have more than 300,000,000 not accoun
ted for by exportation or hy the return
of i he 1 1. usury, ud therefore, most proba
bly, remnmlng'fn the conn try. These ar'
important fac , fad fhnw how completely
tbe inferior currency will supercede the
better, forcing it from circulation among
the masses, and causing it tu be exporteaf
as a mere article of trade, to add lo th
money
fhow l
aapit.il of foreign lands. TJky ! This policy inaugnratc
he necessity of retiring oar piper since, has met wilh eigna
, that ihe return of gold aadfllver . ever il has been pursued i
money
to the avenues of trade may be kflrked.
and a demand creaied which wilt cause
the retention at home of at least h much
of the production of onr rich add inex-
Ii nisliblc tfold hearing be ds ns miv be
sufficient for purposes of circulalloii.
It is uiireaswnabie lo expect a return to
a found currency as long a the govern
ment and banks, by continuingto issue Ir
redeemable note, fill tbe rhanael of cir
culation with depreciated paper. Not-
WMliitandin' a coinage bv our mints since
During tbe year ending the 30th af
September, last, the expenses of iba Pa
tent Office exceeded iba receipt hy pjm
hundred and aevetiiy-one dolltr. Aad
including all issue and designs, fourteen
, thoinand cam buudrvdaud fiil-lhrea pa
tent were issued.
Treatir with various Indian tribe have
been concluded and w ill be submitted I
the Senate fir It constitutional action.
J7 .1 . ., ...
swimiiy hiiciioii iuc siiiiiihiioiis wnicn
provide for reserving land for various
Ii lie - w lu re they may he encouraged ta
ab.it. d .n iheir nomadic habit and engage
in agricultural and iudnsiii.il tiursuit.
. . .
t many years
glial sin ce when-
ill good faith and
with becoming liberality by tbe United
Stale. Tlie necessity lor extending il a
far a practicable in onr relation with tbo
aboriginal population ia greater now thaa
at any preceding period. Whilst we fur
nish subsistence aud instructions to tha
Indian, and "guarnnCl the
undfstuibcd
enjoyment ot their treaty rights, we should
habitually insist upon the faithful observ
ance of their agreement to remain within
the respective reservation. This i tbo
only mode by which collision with other
1849 of eight hundred and sVenty-fnitr ' tribes and wilh the white can be avoided
million of dollars, the pronto are now I and the safety ot our frontier settlement
trangrrs to the currency whiebl was de- j secured.
signed for their use and benefit, mid spo- The companies constructing the rail-
ciniens of the precious metal, being the way from Omaha to Sacramento, bare
national device, are seldom seen, except j hew: most energetically engaged in proso-
hen produced to gratify the intercut us-1 ruling the work, and it M believed that
cited by their nnreliy. If depreciated pa- i the line will be completed before the expi
per i to be continued a 'the permanent : ration of the next fiscal year. The six
currency of the country, and all onr Vmiu per cent, bond issued to those coin p nice
a to become a mere article of tratkc and t amounted on i lie o;li instant, to 14,337.-
peciil.itmu, to the enhancement in price I.Otii, and lulditioual work had bceu per-
of nil "hat is indispensable lo the comlort 1 formed to :ho .eUcut 93,00,000. Tbe
1.000. iii real money three or four hundred per . sound political economy, to take such
unction to cent lea than the obligations, which jt i" i-miic.-. as will enable the holder of il
public in- j issued in return. It cannot he denied that 1 11,1,1 "-'I those of the National Itnk-
latioaf that bad previously exifted be
tweeatkem. aad mutaal distrust his ea-
rendered a fecliag af auimoaiiy which,
leading ia
bloodshed, haa preventer
Ifoi between the two race
instance to collision aud
tc that co-opera-
race so essential to
be sneacto of industrial enterprises in lb
southern Male. Nor have tlietobalsi
IfJUlf W those Slates alone suffered from
ilk dkiurbed condition of affairs growing
mt of these Oongrvsionul rnaetment.
The entire I'nioii has been agiuted by
grave apprebewfmn of trouble which
might agara disturb the peace of tbe na
tion. Iu interest have been injuriously
afreted by lb derangement of business
aad labor, and the conn qui nt want
throughout that portiou of
the coanlry.
The federal coaftitution. th Jfaano
m'harla af American rights under whose
aalutarv provisions we have suc-
Icrssiolly conducted all our domes "Ie and
Ifireign affairs, atmalned oarselves ia
see aad in war, aad became a great na
Biaa among the power of tbe earth, most
MMsurcdly be now adequate to lb settle
nnit af vacation growing oat of the civil
rat waged atoaofor its viudication. This
heat tact b) atada most manifest by tbe
Bfaalllltalwcl eountry wken Congreaf
assembled in toe nioutn ot iH-cimiiei.
B86o
with those of 1791, U will be seen that
the increase of expenditure since tin be
ginning of the corernmetit, Ins been eight
thousand six hundred aad eighteen per
centum, while the increase of the popula
I ion for lire same peried Wa only eight
hundred and sixty-eight per centum.
Apaiu j tbe CX" tiahm of he government
in 1889, the y of peace immediately
preceding the or, were only sixty-tbree '
million, while in 1866, the year of peace
three years after the war. il M estimated
I bey will ba three hundred aud seventy
two million, an increase of four hundred
and eighty nine per centum, wbik the in
crease ot population was only twentv-one
prr centum for the fame period. These
statistics tort her show thai in 1791, the
annual expense, compared wilh the pop
ulation, were little more than one dollar
per cnuiln, and in 1660, bat two dollar
prr capita, while in 1869, ibey will reach
the extravagant sum of ultra dollar and
seventy eight cents per Msibv
Il will ba observed that all of thesa
itau-njeut refer to, and exhibit tba dis
bursement of peace periods. It nmy.
. m ' . -. .1 . ...
therefore, bu of interest to comparei tbo , in tbe npnng of 1861, our civil war coin-
expenditure of three war periods, the ' menced. Each year of its continuance
Mexican war, and the war ol the rebel- made an enormous addition to tbe debt,
lion. In 1814, tbe animal expenses inT and when in the .Spring of 1866, the na
eideiit to tin- ai ol , reached llieV j linn successfully emerged kom the con-
government
82 873,992,
e Treagiiry
10 convert llieui witlmut los ttito specie
A reduction of our
ally dcprecMtcd PMpr'r circulating medium need not necea--This
fact is made follow. This, however, would de
pend upon the law of deuiaud and sup
ply, though il should he borne in mind
lion of dollars, created during the war of each dollar they own iu government seen- that by making legal tender and bank
the Revolution. This amount had been ; curities ix per cent in gold which i near-' "oU,s o.nvcrtablc into coin or its equiv.i-
reduced to forty-five million of dollar ly or quire equal to nine per cent in cur- j ''"' 1 '"'" present specie value in the
when, lu 1812, war was declared against ! rency ; that the bonds arc then converted i hands of their holders would be enhanced
Great Britain. The three rears struggle into capital for the National lUttks. noon otlK hundred per cent. Legislation themf
I i i .L - T- I l I. .i t f. .1 , . . . . I ' l . J i i
we are pavinr an extravagant BoraasuSMM
anch alarming rapidity and assumed saeh for the use of the money borrowed which "r equivalent.
colossal proportions, ill ira, wnen tne, was paper currency, gn
government commenced .iiieruiioiis under' below tbe value of coin
the federal constitution, it was burdened apparent when we consider that bond-
:.l V 1 m ii i ij
wiin an iiiueoicuness oi seveuiy-nve mu- inuuers receive irom uiu treasury upon
13
that followed largely Increased the na-: which ilmsi! iuslituliou issue their circn- Hccomplisbmeiit of a result so desirable
tional obligation, aud in 1816 they had ! huion, bearing fix per cent interest, and j ' demanded by tbe highest public cousid
atuinedthe sum of ofie hundred and .'that they are exempt from taxation by th eralioin. The constitution ccrulcmplutos
twenty seven million Wka and eeonost-1 government and the States, and thereby 'kit the circulating medium of the conn
ica! legislation, however, enabled the gov- enhanced Iwo ) r out, in the hands of try shall he niiifqnil in qiuuity und val
amracnt to pay tbe entire amount w ithin j the balder. We tba have aa aggregate ' "" At the ime of tbe formation of that
a period of twenty-years, and the ex tin- of seventeen per cent which may be ro-1 instrument tbe country bad just emerged
gaishmeut of the national debt filled the ceived upon each dollar by tbo owuers of ! from the war of the revolution, and as
land with rejoicing, and wa one of tke I government securities. A system that i aufR-ritia; fmra the effects of a rediiduiit
moral event of freaident Jacksou' ad- produce such result if ktftlr regarded' worthb-ss palter currency. The sage of
ministration. a favoring a few at tba expense of the that period were anxious to protect their
After iu redemption a largo (and re-! many, aud bus lad to lbs further inquby i posterity from tbo evils which they (born-
maiued in tbe treasury, which was depos- whether our bondholdet, in view of tbe 1 srires kail expcrlencpd. Hence, in pro
of the people, it would be wise economy
to abolish our miuts, thus saving the na
tion tbe care aud expense incident to such
establishments, and let all oar precious
inetal be ex potted in bullion. The time
has come, however, when the government
aud national bank should be required to
take the most efficient steps and make all
necessary arrangements for a resumption
of speck' payments. Let specie payments
once be earnestly inaugurated by the gov
ernment aud batik, and the value of the
paper circulation would directly approxi
mate a specie standard. ' Specie payment
having been resumed 'by the government
and banks, all note or bill of paper k
sued by ciiherof a leas denomination than
rnty dollars should, hy law, be exelu-
iled for I he safe keeping with the several j laige profits which they have enjoyed,
... ...i. i . ..... i . i . . ...
wifnst inrniwirrfl oe averse to a ci le
nient of oar indebted!' nnon a plan
States, on condition tlmt it should lie return
ed when required by the public w ant. In
1819, the year after the terminal ion of an
expensive war with Mexico, we found our
rive involved in a debt of sixty-tour
millions, and this debt wan tbe amount
owed by the government in 1860, jnst
prior to the outbreak of the rebellion.
Co. Civil irifc has ceased the spirit -highest anioaut about thirty -one million, (bet. the obligation of tbe
rebellion bad epent iu entire force in! kik oar population slightly exceeded j leached the immense sum of
i Soutkera males tbo people badibrht million, showing an expenditure of. 909. The Secretary of tb
t t ii at,
waicii wouiu yield tufai a lair remunera
tion, aad at the same time be jiwt to tba
tax-payer of the nation.
Our national credit should be s.icredlv
observed, bnt in making provision for our
tiding a circulating medium, they confer
red upon- Congress the power to eoi n mon
ey and regulate tjlie value thereof, t the
nre time prohibiting jhe States from
making anything but gohf and silver a
lender iu payment of debt. Tbe aim
union condition of our currency is in
striking contrast whith that which whs
Onr circulation now
farmed into
aoantry
rattnc fcntlsnent
lie spplicatron
iroviaiona of the
ire
ha
- .i...i..,. loniv i nee tloiiur ami eigniv ceuis prr mnw mat on me nrsi nay oi .Aoveuiucr. mini snoum ih- nniun n to tne r. unction
MHOTIS. im W m. isiuilEllVHI . - w - I w I.
. . " . . i .0.4 .1.- I . - iui;7 . i. : . i...j i. ... I .. i ... , ... ........... ... : . i :. . . I ... .
i.iti., . ; ;.. rntHiti. in mi ine riis otiituii s kivw - cv i . mis niiioiio. nuu inr miscuj ui.vi iuc uiioviioii in seiui-a u ua iiislsii- '
. . ' whw i ..ri : aa im an ntn u... '. .1... . . .:.! l.:.l. : Z-a e.tr. i ihuwi
. ..... ..I . ii.. ii.tp aui oi ins wsr Willi jirxitu i . .hboi vi,i.i.hvi.iu. uul ai iuc saiu- uia is-iup.inn. imn, in wiwis verim lino e oi ,
mvm shks, "J :T " " --- .T.T ... . . . .. . '. .... . : .. I ..' r - . Iji
r .1 .:.....i.. J.i ....,:... in he m. i ion, anil tie population .lbotit port t'Xmnits an increase dnnnir tne past ; mourns, wnnia iiquuiaie tlie entire natica.ig'nu
"- "r"'! j"si' .... .,.. - -.-.-. . -. 1 ri i i i . m-- . . .4
.kJ twentv-ouc nitlfuis. giving only two n,.- n ai ot .ili.trj.i. I ((.. lor III"' Hi -n: on tlie ' ai m nt .ix tier cent, in gold would, at
ss ;f. . .1. . . a
roliintarr M of ,xy r Ctt&m for m w nn1
i ilBWiirlfBiaa-ii k it h ill Vd
le.Miense of thai veai. Iu
lion as near eominWimi aa waa within peudiiures called tor by
- rr. ' rr - w s
t scope ol lis authority, ana tbe nation
s en com aged by tbe prospect of an car
acal amtofcrnary adiaotment of its dill-
sltke. Congres. however, interfered and
ffariag to perfect tbe work
rompiMUedr
sssm
enrep
so nearly ac-
to admit auNaibers
led State; adopted
wbkb arrested the
cries of measure
ftcocraa af restoration frustrated all thai
fd beca so auccessfully accomplished,
aftor three pears of agitation and strife,
left tke country farther from the a t -
tiiuneal of anion aud fraternal feelimr
Pa al tk inception of the Congressional Kranoe at a e st of fifieen nMllioaie of
ka ef reeotitiraeatoa. It need no area- Isra. Florida w ceded to as by
prnt t how that legislation which ha
MbbajHfheauQuceliould
or Bf! 10 conform to
republican gov-
of Xovembcr last 1 state I to
1865 tbe ex-' have been .r,-. 1 .U.5.V.'. It is estima-
t be rebellion led by tbe Secretary that tba return for
reached iho vast amount of twelve bun-! the past month will add to our Itabrli-
dred and ninety million, wbieb compared tie the farther ram of eleven millions,
w it Ii a population of thirty-four millions, making a total , increase during Hiirteen
gives thirty-eight dollars and twenty -cents I months of forty -six aad a half millions.
per capita. '' . " - 'i my message to Unngree ol tiocrmber
Ki.mi tbefrmrthdayof Merck 178911 tb, iJajS. it wa raggested that a policy
tbe 30th of -Jane 1801 the entire expen-1 shonh. bo devised which, wilhout being
diture of the gorernmant were seventeen oppressive to the people, would at once
hundred millions of dollar. 1 mmg that .begin to effect a reduction of the debt
creditor we should not forget what is ! originally designed.
due to the maaaes of tbe people. It way jenrbrfice-, firsi, notes of the National
be assumed that the holders ef our seen-1 l--nk, which are wado receivable for ail
rjlles have already received upon ihckrituc to the government, excluding ini
bonda a larger amount than their original jsts, and by all it creditors, excepting
investment, measured by a gold standoff. ''! payment interest upori i s bonds and
I 'poii tins stall incut of (acts it would j -'he tl; reiirilicg theinselves. Second,
seem bill just and equitable tlmt thr six legal tender note, issueil by the United
per cent, interest now paid by tlie grryern- i State, and which lb law n quirs !mli be
receiveu as wen in pavment ot all delils
wci'ii citizen na of all
excepting imp. .pi
and silver coin. Ilv the operation
onr present system nf --finance, ; lit me-
present rate, be co ual to uiUu per cent. i "He currency wln u collected I n served
in cu
di d from circulation, so that the people
may have the. benefit and convenience of
a gold and silver currency, which in all
their business transaction will be uniform
in value at home and abroad. Every mau
of property or itiduatry ; every man who
desires to preserve what he honestly pos
ses! as tar obtain what he can honestly
earn, has a direct interest in maintaining
a if- circulating medium; such a me
dium as shall be real and substantial, not
liable lo vibrate with opinion ; not sub
ject to be blown up or blown dna n hy tbe
breath of speculation, bnt to be- wade sta
ble and secure. A disordered currency is
one of the greatest political evil. It un
dermine the virtue necessary ior the sup
port of the social system, and encourages
propensities destructive of Its happiness ;
it wars against industry, fragility and
economy, aud it fosters the evil spirits of
extravagance and speculation. It has
been asserted by one of our profound and
most gifted statesmen that of all the con
trivance fiireheaiiug the laboring classes
of mankind, uoiiu haa been more effectual
than that which deludes them with paper
money. This i the most effectual of in- j
ventiouf to fertilise the rich mini's fields
by the sweat of tb poor man' brow. Or
dinary ly runny, oppression, Excessive tax
ation, bear liebtly on tie happiness of the
government !.nius of the community, courparrd with a
And, tlilid, f trandolcnf - euri eney , antf - the robberies
committed br depreciated paper. Onr own
kta!fjrJhM.i
enough and more lhati enough of the de
moralizing tendency: tbe injustice and
intolerable oppression on the virtuous and
well-disposed, bv degraded paper) cur
rency authorised by law, or in
countenanced by the government
Secretary i t the Interior In August list
invited my attention to tha report of a
government Director of the Union Pacific
Railroad Company, who bad bceu ipeci
allv instructed to examine tlie location,
construction ami equipment of their road.
I submitted, for the opinion of tbo Attor
ney Oeneral, certain question ia regard
to the authority of the executive which
arose upon this report, and those which
had, from lime to time, been presented bp
the commissioner appointed to Inspect
such successive section of the work. Af
ter carefully considering the law of tba
cue ho affirmed the right of the executive
to order, if necessary, a thorough revision
of the entire road. Commissioner were
thereupon appointed lo examine this and
other lines, and have recently submitted
a statement of their investigation, of
which tlie report of tbe Secretary of tba
Intet ior furni-hcg specific information.
The report of the Secretary Of War
contain information of Interest and im
portance respecting tbe several bureau of
the war department and tba operations of
the army. The atrengtb of oar mnjtarp
force on the 30th of September last waa
48,000 men, and it i computed that by
the 1st of January next this number will
La decreased to 43,000. A if the opinion
of the Secretary ol WarJB-t within tbo
next year a contiucraubf diminution ol tba
infautry force may be made without detri
ment to the interest of the country.-
And in view of the great exoeusa attend
ing the military peace establishment, and
tlie absolute necessity ot retrenchment,
whenever it can bo applied, it is hoped
that Congees will sanction th reduction
which his report rernmniends. t
While in I860, tliteen thousand threw
hundred men eost tne nation illi.478.000,
the sum of 8b7,ti2,000 is estimated as ne
cessary for the support of the army during
the fiscal year ending Jane 30th, 1870. Tha
est i ina.es of the war department tor the last
twoiliscul year were, for 1867. 933.41i-.4T!.
aud for 186-. 823,.o,tajS). The actual ex
penditure during the same period were,
respectfully: 13V24,415. 9-S1846JH8.
The estimate submitted iu December last lor
the fiscal year ending Jona 30th. lt6t, wa
9-'. 1.4.707. The expenditure fur the first
quarter ending the 30th of September last
vcuiil and the Secretary of, the
Treasury gives gtJti.OOtl.WtX) as the amount,
which will probably he required during the
remaining three quarters if there abouTd be
no reduction of the army, waking it aggre-
any way ' a.t,c, cost for tire year
it It is ! 'f 000,000. v Tb
eost for tb year considerably iu e
MM
fader tbe Influence of party passion
IfectioBa) prejudice other act have
warranted by th eonstl
es has already been saeaU
neriod wo were enrared in wars with
lire.it liriiain mid Mexico, and ware in
volved in hostility with powerful Ind
tribe Louisiana was parchased fro;
for live millions. California was srqu
from Mexico for fifteen million and the.
no, tu"'
"'n um
HI. !- i
minirsasw i
iree! aalanf
vSBXr i
Hreeed.
e difference between
c.liiM.h. ul.r iliun . A..C.A tior fonc of the most snccessfnl device in lime. ? cxpenuitjres nr tne taree
mu I---,..., . ... ... ....... .... . , - -
and liberal compensation for tfir use of land and protect us on the ea--:lm pen-
h.ul .- .i. I I ... I I-
, ii-v.ii ..-iii? , :ni ii ii.ivv una ww n to m -v..
rot. j . . . - . . . !
. ".v. .. .
rapidly recover it wonted prosperity. Irs
interests require thai some measure should
be token to release, tho large amount of
capital invested' in the securities of the
not now
sre-of-ol
d that iu
my view, respcctii
re bfll. Experience has
Imar wim my views resin cnu If III mm
'thiiM Mi i u ts
1 i J . . - .L. UIMMI I.....
I ULSUWI m BTCimRW ST UWm K. sj-i , i .
latere; of the reentry, and ihaV mmga
c.ajMM. an m m
pamai inii isa
kk it remain. In
psnot enjein that
poiieoffieerf to
rsisted in, discbarge k fully
nil her of years. 1 he
raesHry forcibly recom-
n of this character, and
bat tbe Ion er it ts deferred
ifficult must been tne the ac-
lakmcnt. W soold .dlow the wise
i Us established in 1789 aad 1816.
ihs.it.,r- i V.. l.in was nbuincd from .ifflt without lurlber (leUv make provision
Texas for the sum ol ten millions, r.ar- lor. Ihe payment of our obligations at as governmcni. ii is hoi now merely nu
ly In 1861 Ihe wr of the rebellion com- arly a period aa may be praciicabk. The productive, bel in tubal annually con
tr ..... .are St . I It 1 t 1 t f I I A I (A Ai If .I 111 i.. I. ... i. 1.1 nl bus
menced, and from the 1st of JOly 01 Mat l.iruit ol tueir laoors snoum oe enjoyeo
year to the 30tb of Jnne, ISti.tbe pdb'ie j by our citixena, rather than uaed to build
expenditnrra reached the enormous aggro-, ap and fustaiu moneyed mooopolia in
i. ,.f isrfm mm ono. Three years of our own and other land.
tatorvr-ut'd, and during mm j uuriorcigu acoi is ain-auy cpmpwivu
of the a-overnmeut by tb - ter.tary ot tne t reasury aieigui
.. Ki a OO0.000. 346.-. hundred and fifty million. Citizen of
foreign countries receive Internet upon
large ponton ef our ecnritiet, and Amer
ican tax payers are nude to contribute
large earn r their support The idea
Imc sorb a debt is lo become Permanent
lag tha war, or .car- -hould be fvlW-h. W gjj
XVfli. be vol ring taxation too heavy to be bom,
000,000. Adding to
000,000, estimated for
lug too Jinn oi iihii,
a total expenditure of ix-
of dollar duriug
curreucv. and eauivalonl lo the nav- only lor one cla ol Boverunieiit crerii-
ment of the dttbt one ami a half time, ior, who lmldingil boiii!s,iini-aiiiiiinly
a fraction les f ban seventeen years. This, j receive their interest in coin from the Na
te connection with all the oibcr advan- timi Treasliry, There is no reason whicfi
Uci'S derived from their Investment. ' wni b accepreit as satisiactmry loin
would afford to the nnblio rrpililnrs a fair' people, why those wo defend u-
... fwivi. v, ... ... o. n-Tui- slu,.vn. Im. 1i7-..:-,t....'Ua for this aiaeU
. . . . ... .... .i . II M-tl!. .. '.I ' . -. I J. . x- ... .I.ilK Irt .hi.mnll.il ti.m l....0C. ..F .11 . l. f . ... . -
Ibeir capital, and with tins IHeV slioulll Dot s.oncr uaion tne grain one or me nation . ... ... i 0raucfi of tile public service.
satisfied The lefaone' of the paat admim- j bearing ifce scar ami womixt nerved ' prfemu m'etola from Hie gresl mass of the , Th.. report of the Seeretnryof the navyex
uh tbe lender that il is not well to bo j while in il service the trnblk- servants ! P-opiV into the hand of de-4ew,--wkere hibit the upetation of that denartmeat.
over axiou in exacting from ihe borrow-: in the various department of the govern- j "ey are boarded In secret p!ce, or de- aal "I tne navy during the m
;:.!.... i: .;.u .i. i ... it.i inA., tto. fUrmn wk. , ilo. ...1. 1 posited under boll and bars, while the -rnble reduction of the fore
' l . 1 1. luiuui.n.iiu i.ii mi n m i I m.-. -- I T'l - - " : ...... ..i O'L. . .u C . .
I...J. . ..!;,... u m l... 1 1... ..,,1,.,- .jf si.- iKiiu e are left to endure a ihe1 neon Vs. . tt'd. 1 here are forty-two vessels
.. .".'.. T i. ut i M-M--j-wMM"-i;jteifi.iir hundred and eleven Kn.
II provision tie made tor the payment ! naey ; n a msa.i win. mu ine ..a- "T T "T "V au nuadnme wbkb are esUbiisheil in dif-
of iho indebtedness of the government in; lion's workshops, nu the mechanic and j S wm the use of depreciated a worth-, frrvu iKrU of tb. world, three of these
the manner suggeeti'd, our nation will i laborer whe build it edifices and cm- . ".PP,.-- -. rt v vessel. retaraUr to the Uaitod States,
sua lour are used as storeship. leaving the
actual rfuUiDir fore thirty-live vessef. car-
euee to the interest confided lo ihe sn- i rving threat hundrt d and fifty-six gun. The
p.-i vision of his department, and reviews
tie nperati. his ot the linn otnee, pension
office, patent office and Indian bureau.
Diirmg the bscai year ending June 30ui,
1868, 6.656,700 acre of public land wen-
disposed of. !' The entire cah receipts of
lb general land once tor the same period
i caphw
iu the
aame 91-0,000,000, which wodld other-
wise be used by our enterprising people
in adding to the wealth of the nation.
Onr commerce, which at One time success
fully rivaled that of ihe great aura line
powers, has rapidly diminished a4 our
iiiduatrial interest are in a deprreeed and
languishing condition. Tha development
of our ie hatihk rveourers is checked,
and the fertile fields of tbe Booth are be
coming waste for stent of means to till
sheen. With tba. release of capital, new
aVfoald .heMcoV tele le'rarrlyxr
of onr people, anil activity aim
truct its fort und vesek of war, honbl 1 '" Secretary of the Interior, in his re
in navuitmt of their test aad h ml earned 1 Prt. give valuable inlormatiou ui reOr-
dne, receive depreciated paper, while
another class of their countrymen no more
deserving, are paid iu coin of gold and sil
vsr. Kqtial and exact justice retjuire
that all the creditor of the gnvet ument
should be paid in a currency posseasMig a
uniform value. This can only bo accom
plished by the restoration ol the currci: ear
to the slaaiiLmi established by 'the consti
tution. And bv thi mean we would re-.
move discrimination which may, if it j
ha not already done o, create a prejudice I
that may become dierp-rootcd aud wide 1
tpread, and imperii the national credit.
1 he feasibility ot making our currency
eorrcwrmnd with the eon hmional f Und
ardmay be seen by reference to a frW
facu derived from our commercial Mali-
total number of vessel in the aavy is 1
Uaudred aud six. mounting seventeen hat
dred and forty -three gnus. Eighty -one r.
f every uVciiptMu are to ase, armed
were Si,, W,74iiv btiug greati'r by
.83 than the amount realised from tbe
si me sources during the previous year.
The entries under the homestead law cov
er 8,358.933 acres, nearly nur-fonrth of
wbieb was taken nadcr ihe act of Jnne
2lt, lMiti, ebkb applbe only lo the
ft lies of Alabama, Mississippi, Louwmus,
Arkansas and Florida. ,
Ou the 30th of Juue, 1868, mm ban-
with six huudred and ninety-six (ass- Th
number of enlisted men in the service, in
cluding apprentice, ha bain redneed to
eight tbouaand are hundred- Aa toereaa of
nary yard toaililto is Miiaimnil a a
measure which will, in tlie event of war, ba
promotive of economy and sreatity.
A more thorough and systematic aurvay
of th Korth Pacific ocean i advieed in vtoer
of oar rveeat aeeaisitiima and onr expand
iug eommerce and the increasiitg intereonrae
between the PsciftV States and Asia. Th
naval pension fund. hlrb ooaists of a
moiety of the avails of prises captured day
coxclvosw on rovam raox.J
remove one hi xeaWkr