Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1862-12-09

United States and the Sultan Of Turkey
has been carried into execution.
A commercial and consular treaty has
been negotiated, subject to the Senate's
consent, with Liberia, and a similar nego-
tiation is pending with the republic of
Hayti
A considerable improvement of the ma
tional commerce is expected to result from
these measures.
OUR FOREIGN RELATIONS AGAIN.
Our relations with Great Britain, France,
Spain, Portugal. Russia. Denmark, Swe-
den, and Austria, the Netherlands, Italy,
Rome, and the other Europesn States, re-
main undisturbed. Very favorable reis.
tons also continue to be maintained with
Turkey, Morocco. China. and Japan.
During the last year there has not only
been no change of our previous relations
with the independent States of our CONT
neut, but more friendly sentiments than
have been heretofore existing are believed
to be entertained by these neiebbors,
whose safety and progress are SO ultimate
y connected with our own. This STATE
uent especially applies TO Mexico. Costa
Rics, Nicaragua, Honduras, Peru, and
Chill.
THE NEW CANADIAN AND COSTA RIcAS
COMMISSIONS.
The commission under the convention
with the Republic of New Granada closed
Its session without having audited and
passed upon all the claims which were sub
mltted to 1t. A proposition is pending to
revive the convention, that it may be able
to do more complete justice.
The commission between the United
States and the Republic of Costa RIGA has
completed its labors and submitted its re.
port.
TIE ATLANTIC AND PACIFIC sHonr TruoRAPHs
l have fovored the project of connecting
the United States with Europe by an Al,
lantic telegraph, and similar project 20
extend the telegraph from SAP Francisco
to connect by a Pacific telegraph wire
with the wire that is being extended scros.
the Russian Empire.
THE TERRITORIES
The Territories of the United States
with unimportant exceptions, have remain
ed undisturbed by the civil war, and thew
are exhibiting such evidence of prosperity
as Justifies an expectation that some OF them
will soon be in condition to be organized
as States, and be cOnstitutiOnslly admitted
into the Federal Union.
The immense mineral resources of some
OF these Territories ought to be de.eloped
as rapidly as possible, Every step in that
direction would have a tendency to improve
the revenues Of the government aud dimin-
ish the burdens Of the people. 1t is whor-
thy Of your serious consideration whether
some extraordinary measures promote tina I
end cannot be adopted. The measure
which suggests itself as most likely to be
effective in a scientific exploration of the
mineral regions in these Territories. with
a view to the publication of it's results at
home and in foreign counties,-results
which cannot fail to be suspicious.
TIE NATIONAL FINANCES.
The condition Of the finances will claim
your most diligent consideration. The vast
| expenditures incident to the military and
naval operations required for the suppress.
sion of the rebellion have hitherto been met
with prOmptitude and the public credi,
has been fully maintained. The continu-
ance of the war. however, and the increased
disbursements, made necessary by the aug.
mented forces now in the field, demand
your best reflection as to the best mode Of
providing the necessary revenue, without
injury to business, and with the least DOS
sibe burdens upon labor. The SUSPENSION
| OF specie payment Of the banks, soon after
the commencement of your last session,
made large issues Of United States notes
unavoidable. In no other wa7 could the
payment of the troops and other lust de-
mands be so economically or as well proyi-
ded for. The judicious agislation of Con.
gress, securing the receivability of those
notes for loans and internal duties. and
making them a legal tender for other debts
has made them universal currency. md
has satisfied, partially at least, and for the
time, the lOng-felt want of a uniform cireu
lsting medium, saving thereby to the peo-
pie immense sums in discount and ex-
change. A return to specie PAYMENTS
however, at the earliest period, compatible
with due regard to all interests. sboulG
ever be kept in view. Fluctuations in this
value Of currency are always injurious, a uG
to reduce these fluctuations to the lowest
possible point will always be leading pur
pose in wise legislation. Prompt and Ger
tain convertabiliiy into coin is general,
acknowledged to be the best and sures
safeguard against them, and it is extreme
ly doubtful whether circulation of United
States notes, payable in coin. and sufic-
iently large for the wants of the people. car
be permanently. usefully, and safely main
tanned. Is their any other IN ode IN which
the necessary provision for the public WANT
can be made, and the great advantages of {
safe and Uniform currency secured!
know of none which promises 60 certain
results. and at the same time SO unobjec
tionable, as the organization of bankinl
associations under general act of Con.
gless, well guarded in its provisions. T,
such associations the government nigh
furnish circulating notes on the security o
United States bonds deposited in the treas
ury. These notes, prepared under tn,
supervisors Of proper officers, being uni.
form in appearance and security, and con
vertlble always into coin, would at one,
protect labor from the evils of q yiciou
currency, and facilitate commerce by chea,
and safe exchanges. A moderate reserva
ton from the interest on the bonds voult
compensate the United States for the pre
paration and distribution of the notes ar,
general supervision Of the system. an,
would tighten the burden Of that part O
the public debt employed as security
The public credit, moreover, would b.
greatly improved, and the negotiation o
new loans greatly facilitated. by the stead
market demand for government bonds
which the adoption of the proposed sys
tenn would create. Its an additional rec
J ommendation of the measure, os consid era
BILE weight in ny Judgment. that it woul
reconcile, as far as possible, all existing
interests by the opportunity offered to Ell
isting.institutions to reorgsnize under th
act, substituting only the secured uniforr
national circulation for the local and var
GUS circulations, secured and unsecured
now issued by them,
RECEIPTS AND DISBURSEMENTS.
The receipts into the treasury from a
sources, including loans and balances fro.
the preceding gear, for the fiscal year en-
ling ON the 2lth Of Inne 1860 zara ego