The weekly Lancaster gazette. (Lancaster, Ohio) 1860-1863, 1863-01-22
Spt ciaI Message from the President on
che Currency. -.
WAsHIyGroE. Jan, 10,

NMHlNGToNi Jan. 10.
To Tia Senuh anil
House VI Representatives.:
/ have signed the joint resolution to
provide for the immediate payment Of the
army and ravy Of the United States,
passed By the II use on the IA h, and by
tha SCna'e on the 18th. The joint reso
luton is a simple authority. amounting,
however, under tie existing circumstances
to a direction 10 the Secretary Of the
Treasury to make an additional issue Of
800, ,0O0, 900 United States notes-ir 9,
much money is needed for the payment
Of the army and ravy. Ny approval is
giA'r in ord-r that ev'ry proper iacili.
tv may b, Afforded for tie promp, dis
'harg Of all mrcars Of pay due our sold.
iers aul sailors. Whils giving this ap.
proval, however, | think il my duty
10 express my sincere regret that il
has Se'n ibuLd NJ Necessary 10 authorize SO
large All additional issue of Unltsd States
notes, when this circulation, and that Of
the suApendsd banks, together, have be-.
ccms already 80 redundant as to increas ss
prices teyoud real value. thereby aug
men'ng 1ho cost Of livlng, TO tho injury
ot labor. and the cost Of supplies. 10 lhe
injury Of the whole country, II seems
very plain that The continued issue oI
United States rotes. without any check to
The i,su,s of suspended banks, and with
ont ade qua provision for the raising OF
money BY Io.ns and for funding the issues,
50 ~ 10 keep them within due limi' 8,
must soon produce disastrous consequrn
ces. And this matter appears to me q,
impnrtsnI that | el bonud to avail N.Y.
aeII Of til" o1 O,ion TO ask the spc Cial AZ.
Iention of 70 gres4 10 it,
Ths! Congress has the power TO regu
late th" currency OF the country ON hard
! ly admit m doubt, and that a judiGious
| measure TO rreYyn, the deterioration o.
thi, car enc, by a reasonable laxatiou
OF bank circult1In or ot.erwise, is need
e, seems equally clear independently
ol lIis general consideration, il would bc
uujus, to tho people at larse to exempt
banks enlyi'g The special privilege oil
circulation, from lheil Just proportion Of
tho public burdens In orcer to raise
money By way OF loans, most easily and
cheaply. his Gccc sary TO give every pos
sible support to The public credit to that
end, and uniform currency in which tax
IS. subscriptions to loans, and all Other
puolic deb's may he paid, is almost il no
qui'e indispensable
Snch a curr,Iry can be furnished BY
banking associations authorized under I
general acl Of Congress. as sugges'ed il
my message al the beginning of the pres
ent session The security Of this oircu
lation by the pledge Of Unind S'a'e'
honda. as herein sugSes ed, wnuld still
further tAci i'ate lO,us by Increasing III,
present aud causing iuture demand io,
such bonds. In view Of the actual 6uan
ii S!al cmbarrassments Of the Government Il
and OF Ine greater embarassments sure I,
come. II the neeesssry means OF relief ar'
not afforded, ! !erl that | should not per
,orm my duty By simple announcement
Of my approval Of the joint resolutions
which propose relief, only by increasing
the circulation without expressing my
earnest desire that measures. such in sub
stance as those l have jus. referred 10
: mag receive The early sanction Of Cong
rs.s. BY such measures. 10 my opipiop .
4 will payment be most csrtainly y secured
not only 10 the army and navy, hut to al
hopsat creditors Of the Government, ant
satisfactory provision made Tor future de
nands on the treasury.
A LINCOLN.