The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1862-12-05

the banks made large issues ofTreasury
notes unavoidable In 10 other way cod
the payment of the troops and The salts
faction Of other jus, demands beso eco.
romically or as we'll provided for. It is
extremely doubtful whether a circulation
of treasury notes payable in com and suf-
ficiently large for the wants Of the people
can be permanently, uselully and safely
maintained. Is there any other mode in
which the necessary provision for the PUB
lie wants can be made. and the e.eat ad
vantaees of sale aud uniform cs<sency
secured .,su
These rates prepared under the super
vision Of proper officers, being uuiform.in
appearance and security and convertible
always into coin, would at once protect
labor against the evils Of vicious curreu.
CIV, and facilitate commerce by cheap safe
exchanges. A moderate reservation from
the interest on the Bonds would compen-
safe the U. S for the preparation and dis
tribution of the notes and general super
vision of the system and would Tighten The
burden of that part of the public debt en-
ployed as security. The public credit
moreover would be greatly improved and
the negotiation of new loans greatly facii-
tated bv the steady market demand for
Government Bonds which the adoption Of
the proposed system would create.
1t is an additional recommendation 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
to reorganize under the act substituting
only the secured uniform national eircu.
! ation for the local and various circulation
now issued.
The President then gives a summary
from the Secretary of Treasury's report
refers to reports Of Secfetary's of Navy
and War says though lengthy, are only
brief abstracts; says there is decided inn
provement in financial condition Of Post
Office Dept compared with preceding
wears. The Secretary of Interior reports
public lands ceased to be source Of rev.
enue. Speaking Of Indian affairs and re-
cent troubles SAYS, submit Tor your spe.
cia consideration whether our Indian sys-
TEN shall not be re.nodeled suggests the
earliest completion Of the Pacific Rail-
road. also favorahIc action Of Congrese
., rroiac,s f,r erIar,,;ro tho oroo, oo,aIs
Of N.w Yorl, Illinois and N;rhiga, -
The President refers 10 his connansatad
oman.;nat;on nroc,a,pa,i,n Of Sant ooJ
onl so,s ,},t ,or,;ar of ,,,o III 800,
,,;aa hy tho n.o,lo of tha TTni.oI c,o,os :.
we'll a6an,ed to he the home Of ono not;on.
, 81 f,,o;,t I,,t r,,+ Cor ,,., -. ,r,.,r,
IN tho inauc,raI olJross Lrioar
.o;a.oI -. n,a ,s..,I ;,,.... I ,I:.>-l5
;nn ~ ro,,nI, e., ,TG.,rln":. l., noan
Ne noonra 81 ,hs , w. Ian,inna Wv" '0D
I did 50 in lanonaao which canno, i'm.
rroro pLrs;.olIr o,ooE;,o. oo oo,uo.
sar,ora+o ,ya ,.snro+ ra,,n,., c,,.
son,;nns fror, oaa[ o,Lon L,,;ll t WV 80,
ra.saIIo wou hot,roa, ,,on, IT, ,bn, 80
imarLs q, Iaoo,h 81 ,t,n ,l;q;a,,i,r w. nf ,,o
49,. a,;9,I Lo,,, 49,, ~
~ PraS;.ron, .Lar "'.2o ,,,.o o,,oui
ments to he constitution Cong,ess CON.
80 h. ,,nl,,a,ol - 49, Isg;.Ia.,,ra.
Or c,nvan,io,s Of tho several S,s7as wb;ch
f ra,ifad Lv ,hrae fon,,hs If said Ioc;sIa-
turos ~ bo ra,;l ~ ror,s Of s,iI o,nS9,;tn.
,inn The last or,;n,o nronosas ali c,a,as
aholisLine slavery before Jannarv 1st 1000
shall receive condensation from the Uni
led States. Second. All slaves freed Nv
the chances If war a, sr,, fine lararo no