The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1862-12-05

the OnlteQ OtaJeS anu Ine OulCdH Vi 1uE-
key has been carried into execution. A
commercial and consular treaty has been
negotiated, subject to the Senate's con-
sent, with Liberia, and similar negotia-
ton is now pending with the Republic of
Hayti A considerable improvement in
the national commerce is expected to re-
suit from these measures. Our relations
with great Britain, France, Spain, Portu-
gal, Russia, Prussia, Denmark, Sweden,
Austria, the Netherlands, Italy, Rome,
and the other European States, remain
undisturbed. Very favorable relations
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 own
continent, but more friendly sentiments
than have heretofore existed are believed
to be entertained BY these neighbors,
whose safety and progress are so init
mately connected with ours This state
ment specially applies to Mexico, Costa
Rica, Nicaragua, Honduras, Peru and
Chill The Commission under the Con-
vention with the Republic of New Grana-
I'd ClOSSu It's SGSo4Oh nllhO0t AdNAliS
audited and passed upon all the claims
which were submitted to it A propo-
sitiOn is pending to revive the Conven-
ton, that it may be able to do more COM
plete Justice The Commission between
the United States and the Republic of
Costa Rica has completed its laborS and
submitted its report. l have favored the
project for connecting the United States
with Europe by an Atlantic Telegraph,
and similar project to extend the tele-
graph from San Francisco to connect by
a Pacific Telegraph with the wire which
is being extended across the Russian
Empire
The Territories of the United States,
with unimportant exceptions, have re-
manned undisturbed by the civil war,
and they are exhibiting such evidences
of prosperity as justifies an expectation
that some of them will soon be in con-
dition to be organized as States, and be
constitutionally admitted into the Union.
The immense mineral resources of some
of those Territories ought to be devel-
oped as rapidly as possible. Every step
in that direction would have a tendency
to improve the revenues Of the Govern
ment, and diminish the burdens of the
people. 1t is worthy of your serious con-
sideration whether some extraordinary
measures to promote that end cannot be
adopted. The means which suggests IT.
self as most likely to be effective, is
| scientific exploration of the mineral re-
gions in those Territories, with a view to
| the publication of its results at home and
ia foreign countries-results which can
not fail to be auspicious
The condition of the finances will
claim your most dIligent consideration
| The vast expenses incident to the militia
~ and naval operations required for the
suppression of the rebellion have hither-
to been met with a promptitude and GER
tainty unusual in similar circumstances,
and the public credit has been fully main
tanned. The continuance of the war, how
ever, and the increased disbursements
made necessary by the augmented forces
now in the field, demand your best refec-
lions as to the best means of providing
the necessary revenues without injury to
business, and with the least possible bur-
dens upon labor The suspension of
specie payment by the banks, soon after
the commencement of your last session,
made large issues of United States Notes
unavoidable. In no other way could the
1 payment of the troops and the satisfac-
ton of other Just demands, be so eco
nomically and as well provided for. The
iudicious legislation of Congress, secur-
ing the reeeiyability of these notes for
loans and internal duties, and making
them legal tender for other debts,
has made them universal currency, and
has satisfied, partially, at least, and for
the time, the longfelt want of an uniform
circulating medium, saving thereby to
the people immense sums in discounts
and exchanges.
A return to specie payments, however,
at the earliest period compatible with a
due regard to all interests should ever be
kept in view.
Fluctuations in the value of currency
:, are always injurious, and to reduce these
fluctuations to the lowest possible point
will always be a leading purpose in wise
legislation.
Convertibility, prompt and certain con-
vertibility into coin,is generally acknowl-
edged to be the best and Surest safe
guard against them, and it is extremely
doubtful whether a circulation of United
States Notes, payable in coin, and sufii-
GENTLY large for the wants of the people,
can be permanently, usefully, and safely
maintained. Is there, then, any other
mode in which the necessary provision
{ for the public wants can be made, and
the great advantages of a safe and uni
/ for,,, caourad2
| know of none which promises so GER
tain results, and at the same time so I'M
Questionable, as the organization Of
, Banking Associations under a general
act of Congress, well guarded in its pro-
, visions. To such Associations, the Gov
: eminent might furnish circulating notes
4 on the security of United States bonds
: deposited in the Treasury. These notes,
i. prepared under the supervisor of proper
e officers, being uniform in appearance
: and security, and convertible always
: into coin, would at once protect labor
!, against the evils of a vicious currency
, and facilitate commerce by cheap and
i safe exchanges. A moderate reservation
L from the interest on the bonds would
o compensate the United States for the
e preparation and distribution of the notes
e and general supervision of the system
t and would tighten the burden of that
+ part of the public debt employed as secu