Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1857-12-19
PRESIDENTS MESSAGE.
EeAow cit;eeuS Of The Senate and House oj
Representatives

EeNow citizens Of the Senate and House Of
Representatives
In obedience to the command Of the
Constitution, it has now become my duty
"to give to Congress information Of the
state OF the Union, and recommend to their
consideration such measures" as l may
Judge to be necessary and cxpcdent."
But first, aad above all our thanks are
due to Almighty God for the numerous
benefits which He has bestowed upon this
people; and our united prayers ought to
ascend to Him that lie would continue to
bless our great republic in time to come as
He has blessed it in time past. Since the
adjournment of the last Congress, our con-
stituents have enjoyed an unusual degree
of health. The earth has yielded hor
fruits abundantly, and has bountifully re-
wardcd the toll of the husbandm IN. Our
great staples have commanded high prices,
and, up till within brief period, our
manufacturing, mineral and mechanical
occupations have largely partakcn of the
general prosperity. We have possessed all
the elements of material wealth in rich
abundance, aud yet, notwithstanding all
these advantages, our country, in its mo-
netary interests, is at the present moment
in deplorable condition. In the midst of
unsurpassed plenty in all the productions
Of agriculture, and in all the elements Of
national woalth VIC find our manufactures
suspended, our publ; works retarded our
private enterprises Of different kinds alb m
1oncd, and til usands of useful laborers
thrown out # employment and reduced to
want The revenue of the government,
which is chiefly derived form duties on i'm
pot , from abroad ,hasbeon greatly reduced,
whilst the appropriations made by Congress
at it, las. session for the current fiscal year
are very large in amount.
u der those oircumst 'nces loan may
he required before the close Of your present.
trssi n; but this, although deeply to be
regretted, woul prove to be only slight
misfortune when compared with the suffer
in1 and distress prevailing among the
lie. With this the government cannot
tail deeply to sympathize, though it may
be without tue power to extend relief.
It is our duty to inquire what has pro-
dured such unfortunate results, and whether
their recurrence can be prevented In al
former revulsions the blame might have
been fairly attributed to variety of co
operating causes but not so upon th,
present occasion 1t is apparent that ou
existing mistortunes have proceeded solel,
from our cxtravagant and vicious system
of paper currency and bank credits excl
ting the people to wild speculations ant
gambling in stocks. These rcyulsions mus
continue to rccur at successive intervals S
long as the amount of the paper currency
and bank loans and discounts of the countr
shall be left TO the discretion of fourtcc
hundred irresponsible banking institutions
which from the very law of their natur
will consult the interest of their stockhold
ors rather than the public welfare,
The trainers of the Constitution, whe
money and to regulate the value thereof,
and prohibited the States from ooinin
money, omittiDg bills of credit, or maxim
anything but gold and silver coin a tende
in payment of debts, supposed they ha
protected the people against the evils of a
excessive and irredeematle paper currcnc,
They are not responsible for the cxistiu
anomaly that government endowed wit
the sovereign attribute of coming none
and regulating the value thereof, shoul
have no power to prevent others irol
driving this coin out of the country an
filing up the channels of circulation wit
paper which does not represent gold an
silver.
1t is one of the highest and most respol
slble duties of government to insure to ii
people sound circulating medium, H.
amount of which ought to be adapted wit
the utmost possible wisdom and skill to Il
wants OF internal trade and foreign c.
changes. If this be either greatly abo,
or greatly below the proper standard, IL
marketable value Of every mans proper
is increased or diminished in the san
proportion, and injustice to individuals
we'll as incalculable evils to the communit
are the consequence.
Unfortunately, under the construction
the Federal Constitution, which has no
prevailed too long to be changed, this in
portant and delicate duty has been disse
cred from the coming power and virtual
transferred to more than fourteen hundrC
State banks, acting independently of ea'
other, and regulating their paper issu
almost exclusively by regard to the pr
sent interest of their stockholders Exe
cIsing the sovereign power Of providing
paper currency, instead of coin, for Il
country, the first duty which these ban
owe to the public is to keep ia their yau
sufficient amount ol gold aud silver