New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-12-06

eo1 Tue action of the Government would have been
~ sIent of all corporations, and the same eye
llesp., ,ests INCREASINGLY on the specie currency
Fpe., ,ards i against adulteration, would also
anu sas,ea ON the paper currency, TO control and
Sa's ;,s issues and protect II against deprecl
rsgua'eT he same reasons which would forbid
aaon. from parting with the power over the
Coas. ,von}d seem 70 operate with nearly equal
caa's rorard to any substitution for the pre-
iaee - .ao,sls in the form of circulating medium.
clous A ,sbcn substituted for specie, constitutes
fap a,rd Of value by which the operations Of 81
no regulated, and whatsoever causes its dc
cs. .,;op. affects society to an extent nearly, II
p'.' .,;,e equal to the adolteration of the coin
NOV NOV. can withhold the remark, that Its advan-
MI contrasted with Bank of the United
lss.s, anart from the fact that a bank was es-
oA. s1 as obnoxious to the public sentiment as
ss,n. :, the score of expectancy as Of constitu-
ven Its. IT. appeared to me to be striking and obvi
'0nsl Ibe relief which bank would afford BY
QUE ..,s of Sl5.000,00 Of It's notes, Judging from
III ' .-,a-;ence of the late United States Bank,
'ps NOT have occurred lnlcss than fifteen years
S.,s.s under the proposed arrangement, the re-
WIN VIZ arsng from the issue Of Sl5,000,G00 o
~. notes would hive been consummated in
lls, rsaT !. thus furnishing in onc-ffteenth part
W. W .is time in which bank could have accom-
'r.had il paper medium Of exchange, equal II
ssmouut 10 the real wants OF the country, at paN
rslne with gold and silver
The saving to the Government would have
b..n equal to all the interest which ii has had 10
o,v on Treasury notes Of previous as well as sub
~ sorept issues, thereby relieving the Government,
md at the same time ahording relief to the PEG
10 Under all the responsibilities attached to
ibe station which I occupy, and in redemption Of
anedre given to the last Congress at the close
ofits first session, / submitted the suggestion to
is consideration at two consecutive sessions
The recommendation, however, met with no ia
m, al its hands. While am free to admit hat
The necessities of the times have since become
Greatly ameliorated, and that there IS good reason
70 hope that the country is safely and rapidly
emerging from the difficulties and embarrass-
npnts which every where surrounded 1t iu 1871
sound and healthy condition would be greatly cx
psdted by resort to the expedlent IN !. modified
iorm
The operations Of the Treasury now rest on the
net of 1889, and the resolution of 1916, and those
laws have been SO administered as to produce as
great a quantum of good to the country as Their
provisions are capable of yielding. II there had
been any distinct expression of opinion going TO
show that public sentiment is ayersc TO the plan
either as heretofore recommended to Congress, Or
in modified form, while my own opinion in re-
gard to it would remain unchanged, should be
yery far from again presenting it to your con-
sderation The Government has originated
with the States and the people, for Their own ben
eft and advantage and 1t would be subycrsvc
Of the foundation principles of the political cdl-
fee which they have reared, to pcrscvcrc IN Il
measure which III their mature judgements,
they had either repudiated or condemned
The will of our constituents clearly expressed,
steps; the true difference between a monarchical
or arisocyatical government and republic being,
that in the first the will of the few prevails over
the will Of the many, while in the last the will CT
The many shoudbe alone consulted.
The report of the Secretary of war Will bring
you acquainted with the condition Of that lmpor-
lant branch of the public service. The Arc!y
may be regarded, in consequence of the 81. all
number of the rank and file in each company
and regiment, as little more than nucleus around
which 10 rally the military force of the country In
case of war; and yet its services in preserving the
peace Of the frontiers are ola most important ma
tlre
In all cases of emergency, the reliance OF the
country is properly placed in the militia OF the
several States, and it may well deserve the con-
sderation Of Congress, whether a new and NOR .
perfect organization might not be introduced,
looking mainly to the volunteer companies OF the
Union for the present, and of easy application TO
the great body OF the militia in time of war.
The expenditures Of the War Department have
been considerably reduced i'll the last two years
contingencies, however, may arise, which would
call for the filling up of the regiments with full
complement Of men, and make it very desirable
10 Eemount the Corps of Dragons, which by an
sctoE the last Congress was directed to be dis
solved
refer you to the accompanying report of the
secrstary for information in relation 10 the Navy
Of the United States.
While every effort has been and will continue
be made to retrench all supertiuces and lop of
al exciesccnces which from time TO time Kay
have grown up, yet it has not been regarded as
wise or prudent to recommend any material
change in annual appropriations. The interests
which are involved are of too important charac
Ter 10 lead to the recommendation OF any other
than liberal policy Adequate appropriations
ought to be made to enable the Executive to fit
out all the ships that are now in a course of
Guiding or that require repairs, for active ser
zee in the shortest possible time, should any
Emergency arise which may require 1t. An
sncent Navy, while it is the cheapest means ot
public defence, enlsts in its support the feelings
@pEde and confidence which brilliant deeds and
heroic yalor have heretofore served TO strengthen
and confirm
refer you particularly to that part of the Sec
'e'sry's Report which has reference to recent OK
Penmens in the application OF steam and IN the
obstruction of war steamers, made under the su-
e'nlendcnce Of distinguished officers of the ma
Y. In addition TO other manifest improvements
H'ae construction of the steam engine and ap-
ycaon of the motive power, which has rem
eeIeQ them NOR, q IN the nSeS OF S.lpS