The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-20
SPECIAL MESSAGE or THE PRESIDENT.

| The Resolution Providing for the Pay
ment or Soldiers and Sailors Signed by
| the President-Mr. LincOln's Views Re.
gnrding the Issue OF Paper Currcn-
cy-A Tax on Baak Circulation Rocom-
mended, &c., DC.
To TIE SENATE HOUSE, REPRESENTATIVES,
have signed the joint resolution to provided for the
immediate payment OF the army and navy OF the United
states passed by the House of Representatives the
4th and by the Senate the 18th inst The joint
luton simple authority, amounting however, under
the existing crcums ancos, TO direction TO the Secretary
Of the Treasury make additional issue Of 500 o0o
n United States notes much money is needed for
the payment of the army aud navy. Ny approval Is
given order that every possible facility may be Afforded
the prompt discharge OF all Of pay due to our
soldi ers and sailors.
i While giving this approval however think 1t my duty
express my regret that found
sary to authorize so large additional issue OF United
States notes, when this circulation and that OF the sus
pended banks together have become already so redundan
increase prices beyond real values, thereby aug
mentng the Of living the injury Of labor and the
cost Of supplies to the injury OF tho whole country
It very plain that continued issues OF United
States notes. without check to the issues OF suspended
banks and without adequate provision for the raising
money by loans, and for funding tho issues SO
as to keep them within due limits, must soon
produce consequences and this matter appears
to important that feel bound TO avail myself 0
this occasion to ask the special attention OF Congress to 1t
That Congress has power TO regulate the currency OF the
country hardly admit Of doubt and that udcio"s
prevent the deterioration of this
u reasonable taxation OF bank circulation othorws 1
needed seems equally clear Independently this gene
RAJ consideration II would be unjust to the people at largo
70 exempt banks enjoying the special privilege OF crcu
lation, from their just proportion OF the public burden
In order to raise money by way OF loans most easily
and chcapy clearly necessary to give possible
support TO the public credit. To that end uniform cur
-sIcy, In which taxes, subscriptions to loaus and
ali other ordinary public dues may DO paid, Is almost
II not quite, Indispensable Such currency be fur
Congress, as suggested my message the be.
ginning Of The present ssion The sec rig d this cir
culaion By the pledge Of the United States bonds,
herein suggested, would still further facilitate leans by
increasing the present and causing future demand for
such bonds
In view q the actual financial of the
government, and Of the greater embarrassment
II the necessary means OF relief be not afforded,
feel that should not perform my duty by simple
announcement Of my approval Of the joint resolution
which proposes relief only ~ increasing the circulation
without expressing my earnest desire that measures,
such in substance those have just referred to- may
receive the early sanction Of Congress. BY such
sures in my opinion, will payment DO most certainly
secured not only to the and but TO all honest
creditors OF the government and satisfactory provisions
made for future demands the Treasury.
WASHINGTON, Jan. 10, 1853. ABRAHAM LINCOLN.