The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-12-12

be acceptable 70 all except 10 those whose partisan pre-
iudices have blinded their Judgments
The message is marked by dignity and elevation of
tone which become State paper emanating nom the
Chief Magistrate of mighty republic and no good eit
zen read it without feeling confirmed IN his patriot
ism and confident of the future of his glorious
country and do not doubt that it win command the
approval and respect of the intelligent and unprudi
classes Europe whose faith in republican institutions
ii win reanimate and strengthen.
From Pennsylvania.
We have the pleasure this morning Of laying before
readers the first annual message OF President Bu-
chanan to the Thirty fifth Congress IL IL IN that PLAIN,
statesanke style which marks all the productions OF
our distinguished Chief Magistrate and man whoreads
il need be at loss to fully understand the Presidents
views upon all the important topics discussed There
broad catholic spirit Of conservatism and genuine pa
tiotism running through this document that Will com
mend IL to the Union-loying of all parties The
President plants himself fairly upon the constitution and
nvokes the we'll understood meaning of that sacred IN
strumen guide him in the discharge of those respon
ble duties which devove upon him by virtue of his high
Office head of this great nation The tone OF this mes
sage is bold and healthy 1t takes hold of all the excl
ting questions of the day and suggests such wise and
comprehensive tomeet each will do much
to aay public apprehension and restore public confidence
This especially observable with reference to the exciting
question of slavery Mr. Buchanan has wisely refused to
sink the dignity of his high Office to level with the
schemes of political ntrgues and has treated the whole
slavery controversy with that calm prudent cautious de-
liberation and foresight which must place his opinions
and conclusions avorably before his fellowcountymen
He ignores all sectionas all views of slavery, from
mere political standpo Where the constitution fixes the
boundaries of this institution there the President stops
rights guaranteed to the people of the
States and Territories with reference to this species
of property Mr. Buchanan is determined to guard with
all the legal and legitimate powers Of the government
But we have not time prolong this review at pres
emit The message is most interesting one and will
challenge public attention in unusual degree not only
from the momentous nature of the questions discussed,
but also from the ability and olearness with which the
President has put his views before the public, Mr. Blu
chanan administration is fairly launched upon the
of public opinion and this his first annual message is
like oil upon its troubled waters few black republi
fanatics and disappointed political plotters may take
exception to the platform upon which the national adj
minstaon has been placed by Its chief but the great
mass of the American people will sustain the President
in his patriotic efforts to settle the Kansas difficulties in
accordance with the constitution of the United States the
Nebraska act and the rights of the real residents
Of that distracted Territory
..-es Philadelphia Ledger.
The following selected from the money article of the
Ledger
The message Of President Buchanan looked for
Tuesday with much interest, and have doubt has
been very generally read throughout the country The
public by it officially informed of what stated in
this department of the Ledger several days ago prob
abe-namely, that federal loan may be required be-
fore the close of the present session of Congress to carry
the operations of the treasury The embarrassments
of business that have esened the public to
render this loan necessary and been the of much
personal suffering throughout the length and breadth of
the country the President says 'have proceeded solely
from our exravagant and vicious system OF paper cur
ency and bank credits exciting the people to wild specu-
ations and gambling in stocks. These disastrous re-
suits the message clearly traces to the fact that in
this business of making currency, have wandered
from the true and safe standard set up by the trainers of
the constitution who thought they had restricted the
business when they gave to Congress the power to coin
money and regulate the value thereof and prohibited
the States from the exercise of the power of emitting
bills of credit, of making anything but gold and
silver coin tender in payment of debts These
truths that have many times been presented by us,
but still rejoed find them forcibly presented
in high and influential document the President
first message We have hope, with such aid, something,
during the four years of his administration may be eff
feoted in reform in which the Ledger has been
twenty years zeaousy engaged The evil of taking the
creation of currency from the single point where it
properly belongs and might in degree at least be
controlled and of giving it to the Legislatures of thirty
one States and fourteen hundred banking institu
tons is plainly though forcbly argued Though fearing
this control has been too long held by the States and their
creatures, the banks to be changed the message
theess urges preventions of of like dis
asters in the future that bank ought to be char
tered without being required to keep in it's vaults in
amount sufficient to redeem its circulation at all times,
and under all circumstances AS evidence of how this
rule would affect banking in this Commonwealth,
will state that at the date of the last published report
SIT 3G2 345 and in eposites $26 522 800 while in specie
they held only So, 1873 With the Presidents
commended restriction of the circulation and dcpostes of
three to of specie should probably never have
had bank suspension and all its attendant horrors
Though opposed to making the evidences of the debts
of the States basis for banking and currency,
is done by what is called free banking the message,
nevertheless considers such collateral and eventual
curty wise, and ought in all to be
qured As to bank of the United States, the Presi-
dent thinks such institution unconstitutional and of
advantage in controlling the currency If it not
The only remedy for suspension he truly says is with
the States and he urges them to increase the denomna
ton of bank notes. first to twenty then to fifty dollars
require the banks at all times to keep hand at least
dollar of gold and silver for every three dollars of
their circulation and depostes provide selfexecutng
enactment which nothing arrest the moment they
suspend, and weekly publication by each bank of
statement of its condition Congress- he believes pos
sesses the power to pass uniform bankrupt law appi-
cable to all banking institutions throughout the United
States and strongly recommends its exercise This would
make it the irreyersbe organic law of each bank exist
ence, that suspension of specie payments shall produce
its civil death The instinct Of self preservation would
then compel it to perform its duties in such manner as
escape the penalty and preserve its life This closing
recommendation is the gst of the message and is apply
ing the knife directly to the root of the evils of uo
and banking it is radical and soundworhy of the best
DAYS of jackson and Benton.
.r From the Alexandria Gazette, topposion.)
The Presidents message meets with very general COM
mendation from the press Of all parties and the
i'm which has been received by the public should be an
indication to Congress that outside of the halls of the