The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1863-01-20
Message from the President.
WASHINGTON, Jan. Iy.
To the Senate and House Of represent

To the Senate and House Of represent
0tices:
have signed the joint resolution to
provide for the immediate payment of
the army and navy Of the United States
passed by the House on the 18th and by
the Senate on the 10th.
The Joint resolution is simple au-
thority, amounting, however, uuder the
existing circumstances, to direction, to
the Secretary of the Treasury to make
an additional issue of Sl00,00O,OO0 of
U. S. notes, if SO much money is needed,
for the payment of the army and navy.
My approval is given in order that
every proper facility may be afforded for
the prompt discharge of all arrearages
due our soldiers and sailors. While Civ
ing this approval, however, 1 think it my
duty to express my sincere regret that it
has been found necessary to authorize so
large an additional issue of the United
States Notes. When this circulation and
that of the suspended bonds together
have become already so redundant as to
increase prices beyond real value, there
by augmenting the cost of living, to the
injury of labor, and the cost of supplies
to the injury of the whole country, it
seems very plain that the continued is
sue of United States Notes without any
checks to the issues of suspended banks,
and without adequate provisions for the
raising of money by loans and for fund
ing the issues so as to keep them in due
limits, must soon produce disastrous con-
sequences. This matter seems to me so
important that feel bound to avail N.Y.
self of the occasion to ask the especial
attention of Congress to it.
That Congress has the power to regu-
late the currency of the country can
hardly admit doubt, and that a Judi
cious measure to prevent the deteriora-
ton of this currency by a reasonable tax
alton of bank circulation or otherwise as
needed, seems eqally clear.
Independently of this general consid-
Grafton it would be unjust to the people
at large to exempt banks enjoying spe-
cial privilege of circulation from their
just proportion of the public burdens.
In order to raise money by way of
loans most easily and cheerfully it is
clearly necessary to give every support
to the public credit.
To that end an uniform currency, in
whice taxes, subscriptions to loans and
all other ordinary public debts may be
paid as almost, if not quite, indispensa-
bic.
Such currency can be furnished by
banking associations, authorized under
a general act of Congress, and suggested
in my message at the beginning of the
present session.
The securing of this circulation by the
pledge of U. S. bonds, as herein suggest
ed, will still further facilitate loans 5y
increasing the present and causing fu-
ture demand for such bonds.
In view of the actual financial embar-
easements of the Government, and the
greater embarrassments that are sure to
come if the necessary means ofrelief are
not afforded, fell that | should not
perform my duty by simple announce
ment of my approval of the joint resolu-
ton, which proposes relief only by in
creasing the circulation, without express
sing my earnest desire that measures,
such in substance as those have Just
referred to, NAV receive the early sane
ton of Congress. By such measures, in
my opinion, will payment be most GER
tainly secured, not only to the army and
navy, but to all honest creditors of the
Government, and satisfactory provisions
be made for future demands on the
Treasury.
[Signed] A. LINCOLN.