Union County star and Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1859-1864, 1863-01-23

WASHINGTON, Jan 10 The follow
ing message was sent to Congress to-day
10 he Senote and House Of Representatives.
l have sigued the joint resOluti,n to
provide for the immediate payment of the
army and navy Of the United S,a,as,
passed hy the House Of Representatives
on the lith, and by the Senate on 10th
inst.
The joint resolution is simple in au-
thority, amounting, however, undcr exist,
ing circumstances, - direction to the
Secretary of the Treasury, to make an
additional issue Gf ore hundred millions
Of dollars iu United States notes. If so
much money is needed for the pavmen,
of our army and navy, my approval is Civ
en-, 10 order that every possible facility
NAV bo afforded for the prompt discharge
of all arrears of pay due our soldiers and
our sailors. While giving this approval,
however, | think it my duty to express
sincere regret that it has been found ne
cessary to authorize so large an additional
issue Of United States notes, when this
circulation and that If suspended banks
together have become already 50 rcdun-
dsnt as to Increase prices beyond real val,
ues, thereby augmen'lug the cost of llv-
ing to the injury Of labor, anl the cost o:
supplies to the injury Of the whole couu-
try.
Ii seems very plain that the continued
issue of United States notes without any
check to the issues Of suspended banks,
and without adequate provision for the
raising Of money by loans, and for found
ing the issue 50 as TO keep them within
due limits, must soon produce disastrous
consequences, and this matter appears to
Inc so 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 eur
reucy Of the country can hardly admit Of
o doubt, and that judicous meius to pre-
vent deterioration OF this currency by
reasonable taxation Of bauk circulation or
otherwise If needed, seems cqIa!ly clear.
Independently OF this genera. c1usjjcra-
tion it would be u'jlst to the people at
large to exempt bauks enjoying the spe-
ciai privilege of circulation from their
just proportion Of public burihens. Ia
order to raise moLcy ty pay Of loans, and
most easily and ehcap'y, it i clearly ne
cessary to give every possible support to
the public credit to that and 4 uniform
currency, in which taxes, subscriptions TO
loans and all other ordinary public dues
may be paid, is almost if not quite indis-
pensable. Such currency can be fur
nsbed by blrkiu. associations authorized
under q geu,r | act of Congress, as suEges-
ted in my message at the beginning of the
present session.
The security of this circulation by
pledge of the United States bonds a,
herein suggested would sill further facili-
tate the loans by Increasing the present
aud causing a future demand for such
bonds In view of the actual financial
emharrassmcnrs Of the Gov gHment and Of
ihe greater emblrras- -mcnts sure TO come,
if the necessary means be net afforded,
feel that | should not perform my duty
by simple announcement of my approx
al of the joint resolution which proposes
relief only 10y Increasing circulation, with
out expressing my earnest desire that
measure such in substance as have JIst
referred to may receive the early sanction
Of Congress.
by such measures, in my opinion will
tie payment be most certainly secured not
only to the army and navy, but to all the
honest creditors Of .the G5vernmcnt, and
satisfactory provisions made for the fu-
ture demands on the Treasury.
ABRAHAM LINCOLN