Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-12-02
gg 0eIegraph.
PrasidAnt's Massape.

place during the last year is herewith sub.
mitted in compliance with q request to that
effect.
If the condition of our relations with
other uations is less gratifying than former
~, 1t is certainly more satisfactory than 4
nation so unhappily distracted might have
reasonably apprehended. A blockade oil
5000 miles of sea coast could not be estab.
lished and vigorously enforced in season
of great commercial activity like the pres.
ent. without committing occasional mis-
takes and in1icting uuintentional injuries
upon foreign nations and subjects. In
clear cases of this kind, | have so far as
possible, heard and redressed complaints
by friendly powers. There is, however, q
large and augmenting number of doubtful
cases upon which the Government is un-
able to agree with the Governments whose
protection is demanded by the claimants.
There are moreover, many cases in which
the United States or their citizens suffer
wrongs from the naval or military authori-
ties OF foreign nations which the Governor
ment of these States are not at once pre-
pared to redress.
have proposed to foreign States inter.
ested mutual conventions to examine and
adjust such complaints. This has been
made especially to Great Britain, France,
Spain, aud Prussia. In each case it has
been kindly received but not yet formally
adopted. Applications have been made to
me by many free Americans of African de-
scent to favor their emigration with a view
to such colonization rs was contemplated
in recent acts of Congress. Other parties
at home and abroad, some from interested
and other motives, have suggested similar
measures, while on the other hand several
of the Spanish American Republics have
protested against the sending of such col
onies to their respective territories.
Under these circumstances have de-
cliued to move any such colony to any State
without first obtaining the consent Of the
government, with 0n agreement on its part
to receive and protect such emigrants in
all their rights as freeTeni aud have at
the same time offered to the several States
situated in the tropics, or having colonies
there, to negotiate with them subject to the
advice and consent of the Senate, to favor
the voluntary emigration of portions of that
class to their respective territories upon
conditions which shall be equal, just and
humane. Liberia aud Hayti are yet the
only countries to which colonists of Afri-
can descent from here could go with GER
tainty of being received aud adopted MS cit
liens, aud regret to say that such persons
colonization do not seem SO
willing to emigrate to these countries as to
some others, nor willing as think their
interests demands. think, however, that
the opinion is improving, and that ere long
there will be an augmented and cOnsidera-
BILE emigration to both these countries.
Our relations with European States re-
main undisturbed and with the States of
our Continent have improved, especially
Mexico, Costa RIGA, &c.
The President says he favored the pro-
ject Of the Atlantic Telegraph, and extend
ing the Pacific line TO connect with that be-
ing extended across the Russian Empire.
lie thinks the mineral resources of the
Territories ought to be developed as rapid
ly Us possible. Every step in that direc-
tion would have II teudRncy to improve the
revenues. 1t Is worthy of serious consid-
GRAFTON, whether some extraordinary meas
ures to promote that end cannot be adopted.
The means which suggests itself as most
likely to be effective is a scientific explo-
ration.
The vast expenditures incident to the
military and naval operations required for
the suppression of the rebellion have hith-
erto been met with promptitude and GER
taiuty unusual in similar circumstances,
aud the public credit has been fully main
tanned. The continuance of the war, how
ever, and the Increased disbursements made
necessary, demand your best reflections as
to the best modes of providing the neces-
sary revenue. The suspension of specie
payments by the banks made large issues
of United States Notes unavoidable. In
no other way could the payment of the
troops and the satisfaction Of other lust
demands be so economically or as well
provided for.
II ts.
culatiOn of United States notes payable 10
coin and sufficiently large for the wants of
the people can be permanently, usefully
and safely maintained. Is there my other
in which the necessary provision for the
public wants can be made, and the great
advantages of safe and uniform currency
secured2 know OF none which promises
so certain results and at the anne time 40
unobejctionable as the organization of bank.
ing associations under general act of
Congress as well guarded ia its provisions.
To such associations the Government might
furnish circulating notes on the security
of United States bonds deposited in the
Treasury.
These notes prepared under the supervf-
sion of proper officers, being uniform 10
appearance and security aud convertible
always into coin, would at once protect la
uOF hBhihst tue eNllS OF q vicious currency
aud facilitate commerce by cheap and safe
exchanges. A moderate reservation from
the interest in the bonds WOuld compen
safe the United States for the preparation
and distribution OF the notes AMI a general
supervision of the system aud would light
en- the burden of that part of the public
public debt employed as security. The
public credit moreover would be greatly
improved and the negotiation of new loans
greatly facilitated by the steady market de.
mand for Government bonds which the
adoption of the proposed system would
create.
1t is an tionairecommendation of the
measure, of considerable weight in my
judgment that it would reconcile as far as
possible, all existing interests By the op-
pOrtunity offered to existing institutions 10
teorganize under the act, Substituting only
the secured uniform national circulation
al. l.. II i .