The New York herald., 1862-12-02


however, the opinion among them in this respect i .m
proving and that long viii be augmented anc
considerable emigration both those countries from the
United statcs.
COMMERCIAL TREaIigs FuKgsy, LIBERIA AND HAsri
The ncw commercial treaty between tho United States
and The sultan OF Turkey has been carried into execution
commercial and consular treaty been negotiated,
subject 10 the senae's consent with Liberia. and q
similar negotiation is pending with the repnoic u
Hayti considerable Improvement OF tne national
commerce is expected result from these measures.
oUR Anoss WITH EuRoPEis AND AsiAric NATIONS.
our relations with Great Britain, France, spoi1, Portugal
Russia Prussia Denmark Sweden and Austria, tie Neither
landp Italy Rome and tho ether European Ststes
undis.urbed. Very favorable relations continue 10
be maintained with Turkey Morocco, China and Japan
EFruBL,cs or MEXICO, .ESTRAF AND souGu AMERICA
barring .ha last year there only been 10 change
Of previous relations with tho ndepep States our
continent, but friendly sentiments than have
heretofore existed believed TO be entertained by
these neighbo%a whose saeety and progress are so
Intimately connected with our This statement
especially applies 10 Mexico Costa Rca, Nicaragua, Hon
duras Peru and Chile. Tne conmisson under the
vehton with the republic Of New Granada closed s
sion without having audited and passed upo all The
claims which were submitted to IL. a sioposlton il
pending to revive the convention That may be sbe to
do complete justice. The Commission between the
United the republic OF Costa Roa has completed
lts abcss and submitted its report.
IHE ATLANTIC AND PACIFIC IEjLGsApi CABLES
have favored the project Tor connecting the United
States with Europe by Atlantic telegraph, and SINH
lar project to extend the telegraph from gan Francisco to
connect bya Pacific telegraph with the wire which is
being extended across the Russian empire.
UNITED TERRITORIES uSDisICsgRD
CIVIL wAR--gIIER VALUE.
The Territories Of the United Statos with Gpimportant
exception have remained undsturbsd by the civil war,
and they exhibiting such evidence Of prosperity
jusiifes expectation that Of them vii! be in
condition 10 be organized States aud be constitution
ally admitted into tie federal Union. The immense
mineral resources Of come of these Territories ought
TO be developed as rapidly possible Every
step IN that direction would have tendency 10
improve the Of the government and diminish
the burden Of the people II is worthy Of youg serious
consideration whether extraordinary 10
promote that end cannot be adopted. The which
suggests itself most likely to be effective is scientific
exploration OF the mineral re.ous in these Terroscs
will view to the publication OF its resos at home and
is foreign coantries-.osults which cannot fail 10
b. acs,icots.
COUNTRY.
Tie condition Of the finances will claim your most dill
gsat consideration The expenditures incident
military and naval operations required for the suppression
OF the rebellion have hitherto bcen met with promp
tude aud certainty unusual IN similar circumstances and
tho public credit has been fully maintained The con
tn9ance Of the war, however and the Gisouse
mcEs made necessary by the augmented forces now
the ned, demand your Dest reflections as
% she best modes Of providing the necessary
revenue without niary 10 business and with the least
possible begde.s npon labor.
srFlE rAfashis--crahssty
The suspension o. specie payments by the banks
sson after the commencement Of your last session
made large Issues OF United States notes Inavoid
able. IN otrer way could the pay ,aent u the
,rocrs aud the satisfaction o! other just demands be so
occnan, well provided for. The iuGcioas '.gis
,aiou Of Congress securing ia. receysbiity of these
notes and internal duties, aud making them
legal tcndcr for other debts has made thcm anlversa
currency has satisfied partially less and for tho
time, the long felt or a Uniform circulating
dium saving thereby 10 the people immense il dis
counts ana exchanges. return 10 specie Payments,
however, al the earliest period compatible with due
gard 20 Ill interests, should ever be kept in lew.
rrRsIDENI's FINANCIAL roLcy.
Fluctuations IN The vaae OF currency always inin
rors and rence these the lowest poss
bla point viii AWAY be leading purp.c in wise legislation
Coavertibty, grpinpt and certain conyer,iOiy, into
con generally ACKNOWLEDGED b. be the best and s'rest
agaas, tne and II is extremely doubtful whether cs
csaiion OF United States NOTES, payable c0in aud sai
usefu,ly safely maintained l there tcn any c,hor
,node in which the necessary provision for the public
nts can be uade and the great advantages OF safe
.ni unio NJ tirrenay sscured2 know of none which
promises % CERTAIN re@.a!is - AID siF :,as I,I Y,
Objectionable, - the Organization baaSn associations
under General Of Congress well guarded III its pro
vsims 10 sleh associations the government might fur
psn eircalang notes or the security Of United states
bonds deposited the Treasury. These notes, pared
uadcr the supervision Of proper odccrs being unircra u
appearance and security and cen.egtis!e always into
coin would ~ protect labor against ihe evils OF
vicious currency and facilitate eonn,erce by cheap sn
safe exchanges. 4 moderate reservation from
the interest on the bonds would compensate the
,ne notes and geuera perysion OF the system, ana
would tighten bgrthcn Of that part og the pupic debt
employed rs securities. The public credit, moreoycf
would be greatly improved sad the uegotiation Of new
loans greatly facilitated by the steady market demand for
government bonds WHICH the adoption ci The proposed
sy-,um would create II Is sn adsinnal recommendation
the measure, Of considerable weight in my Judgment,
that il would reconcile far az possible all existing la
terets by the opportunity offered 20 existing institutions
10 act substituting only the secured,
uniform national circulation for the local and various
custion, secured snd unsecured now issued by them
rRssspRy REKrTs
The receipts into the Treasury from all sources, IN.
Guiding osns aud balance from the preceding year.
FOR the ascsl year ending the soh Of
June 1892 were S5s3, ,sss,2t; 0o, OF which sum
$40 o5e 3s o. derived from customs 81 3i 20
from the direct tax from public lands sl52 2o8 ~ from
miscellaneous resources 1891 .S1 o. from loans ia an
forms ssas sp2 400 50. The remainder s22, ce5 50,
was the balance from last year.
TREASURY gyrxSsK ToR raE YxAs
The disbursements during the same period were'-
For Congressional, executive and judicial purposes,
As o3e oo2 30 Tor foreign Intercourse, 81 339 10 S5
for piseellsueous expenses, including the mints,
loans Post oilce deficiencies, collection " revsnus
and other Ike charges, sitlsgTn 3d. for 81.
pcnses under the Interior Department ,lo2,esS ~
under tho war Department 1924 sss.+o' 80 under the
Navy Department, 500 81; for interest the
public debt sl3 100 324 as snd for the payment Of the
public debt inciudiDg reimbursement Of temporary loan
and Goa nna a,o nn-masnr aggIegaie of