The Democratic press. (Eaton, Preble County, Ohio) 1860-1865, 1862-12-11
EATON, PREBLE co, ohio. THURSDAY, DECEMBER Il,

for the suppression of the rebellion
have hitherto been met with a
Ipromptness and certainty, unusual
IN similar circumstances. The.
16nlihilaheAn f fhe war however,
and the increased disbursements
made necessary, demand your best
reflections as to the best modes of
providing the necessary revenue.
The suspension ofspecie payment
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 just demands be 30 econ
omically or as well provided FIR.
1t is extremely doubtful whether a
circulation of United States notes,
payable in crin, and sufficiently
large for the wants of the people,
can be permanently, uGefully and
safely maintained.
Is there any other mode in
which the necessary provision for
the public wants can be made, and
the great advantages of a safe and
uniform currency secured? l know
of none which promises so certain
results, and, at the same time, so
unobjectionable, as the oganization
of banking associations under a
general actof Congress, well guard
ed in its provisions. To such asso-
cations the Government might
furnish circulating notes, on the
security of Unitel States bonds
deposited in the Treasury.
These notes, prepared under the
supervision of proper officers, being
uniform in appearance and security
and convertible always into coin.
would at once protect labor against
the evils of a vicious currency, ant
facilitate commerce by cheap ant
safe exchanges. A moderate res
ervation from the interest on thu
bonds would compensate the United
States forrthe preparation and dis
tribution of the notes, and a gen.
eral supervision of the system
would Tighten the burden of thai
part of the public debt employed
as security.
The public credit, moreover
would be greatly improved, and
the negotiation of new loans great
ly facilitated by the steady market
demand for Government bonds
which the adoption ofthe proposed
system would create. 1t is an ad
ditional recommendation of thu
measure, of considerable weight il
my judgment, that it would recon
ciie, as far as possible, all existing
interests by the opportunity Offered
to existing institutions to reorgan.
ize under the act, substituting only
the secured uniform national circu
Iation tor the local and various cir
culations now used.
The President then gives q sum
mary from the Secretary of thu
Treasury's report. e refers t.
! the reports of the Secretaries o
the Navy and War, and says
though lengthy, they arc onl.
brief abstracts.
lie says there Is q decided i'm
provement in the financial condi
ton of the Postofice Department
compared with the preceding years
The Secretary of the interior re
ports that the public lands hav'
ceased to be u source of revenue.
The President refers to his E
Emancipation Proclamation of Sept
22d, and says, ''that portion of tn,
earth occupied by the people o
the United States is well adapted
Ito he the home of national family
but not for two or more. In thu
Inaugural Address, | briefly point
ed out the total inadequacy of Dis
union as a remedy for difference
between the people of the two
sections. 1 did so in Language
, which | cannot improve. Physi
calIy speaking, we cannot separate
we cannot remove one respective,
section from each other, nor built
an impassablewa wall between them.'
He then remarks at length on tn
difficulty Of making any nationa
boundary line. r--,.r ,rs'g,.gr,
The President then suggested
amendments to the Constitution
; Congress concurring, to be pro
.Eposed to the Legislatures or Con
ventions Of the several States