The daily Green Mountain freeman. [volume] (Montpelier, Vt.) 1861-1865, 1863-01-21
The President on Finance.

The President has transmitted the following
message to Congress
Tsahs Senate and House Of Representatives.
have signed the Joint rose uton to provide
for the Immediate payment of the army and ma
w of the United States, passed by the House OF
Representatives on the l4sh. and by the Senate
on the 18th inst. The joint resolution is sim
pie authority amounting, however, under the ex-
listing circumstances, to direction to the Secre-
tary of the Treasury to make an additional issue
of 500 900 900 in United States notes, il so
much money is needed for the payment of the
army and navy. My approval is given in order
that every possible facility may be afforded for
the prompt discharge CT all arrears of pay due
to our soldiers and sailors While giving this
approval, however, | think it my duty to ex-
press my sincere regret that it has been found
necessary to authorize 50 large an additional
issue of United States notes when the crcula-
ton and that of the suspended banks together
have become already so redundant as to increase
prices beyond real values, thereby augmsnting
the cost of living, to the injury Of labor, and
the cost of supplies, to the injury of the whole
country. Ii seems very plain that continued
issues Of United States notes without any check
to the issues Of suspended banks, and with
cut adequate PROVISIONS for the raising Of
money by loans, and for funding the issues so as
TO keep them within due limits, must soon pro-
duco disastrous consequences, and this matter
appears TO me 80 important that feel bound to
avail myself of this occasion TO ask the special
attention Of Congress to it. That Congress has
power to regulate the currency OF the country
can hardly admit of doubt, and that q judcious
measure to prevent the decoration Of this cur
rency by reasonable taxation OF bank circula-
ton or otherwise, is needed seems equally clear.
of this general consideration, it
would be unjust to the people atlarge to exempt
banks enjoying the special privilege of crcula-
ton. from their just proportion Of the public
burdens,
In order to raise money by way Of loans most
easily and cheaply, it is clearly necessary
to give every possible support to the pub
lie credit. To that end uniform currency, in
which taxes, subscription to .loans, and all 9th.
ct ordinary public dues NAV be paid, is almost
II not quite Indispensable. Such currency can
be furnished BY banking associations authoriz-
ed under general act of Congress as suggested
in my Message at the beginning Of the present
session. The securing of this circulation by the
pledge Of the United States bonds, az herein
suggested, would still further facilitate loans
tbs present, and causing future de
nand for such bonds. In view of the actual
financial embarrassment of the government, and
Of the greater embarrassment, sure to come, if the
necessary noans of relief be net afforded, feel
hat should not perform my duty by simple
of E,y approval of the joint reso
utlon which proposes relief only by increasing
he circulation, without expressing my earnest
lesire that measures, such, in substance, as
hose have just referred to, may receive the
'arly sancsion OF Congress, By such mea-
lures, in my opinion, will payment be most GER
ainly secured, not only to the army and navy,
,ut to all honest creditors of the government,
md satisfactory provisions made for future de,
hands on the treasury.
(Sigued) ABRAHAM LINCOLN