Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1863-01-20
1EssAGE FROM PRESIDENT LINCOLN.

MESSAGE ERUM HhES1UEN4 A4NSOA3S.
To the Senate and House of Representatives
have signed the joint resolution to PROVIDE
for the immediate payment OF the army and
navy Of the United States passed by the
House Of Representatives on the 18th, and by
the Senate on the 10Th instant. The joint re-
solution IS simpl authority, amounting how
ever, under existing circumstances to dlrec-
ton TO the Secretary Of the Treasury to make
an additional issue Of one hundred millions OF
dollars ia United States notes, il so much mo-
ney is needed for the payment Of the army and
navy.
Nv approval is given in order that every
POSSIBLE facility may be afforded for the prompt
DISCHARGE Of all arrears Of pay due our soldiers
and our sailors.
While giving this approval, however, think
il my duty to express my sincere regret that 1t
has been found necessary to authorize SO large
IN additional issue OF United States notes,
when this circulation, and that Of the suspen-
ded banks together, have become already so
redundant as to increase prices beyond real
values. thereby 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 continued issues OF
United States notes, without any check to the
issues Of suspended banks, and without ade-
uuate provision for the raising of money by
loans. and for funding the issues so as to keep
them within due limits, must soon produce d.
sastrous consequences. ana TINS matter ap-
pears to me 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
currency Of the country, can hardly admit OF
doubt; and that judiclous measure to prevent
the deterioration Of this currency by a reason
able taxation Of bank circulation, or otherwise,
is needed, seems equally clear. independently
Of t is general consideration, it would be in
lust to the people at large 10 exempt banks, en-
loving the special privilege Of circulation, from
their lust proportion Of the public burdens. In
order to raise money By way Of loans lnost
easily and cheaply, it iscearly necessaryto give
every possible support to the public credit:
10 this end uniform currency; in which
taxes subscriptions 60 loans, and all other Or
binary public dues, as we'll as all private dues
may he paid, is almost, if not quite: indispen
sable Such currency can be furnished by
banking associations organized under a general
act of Congress, as suggested IN my message
- the beginning Of the present session. The
securing Of this circulation by the pledge OF i.
States bonds, as therein suggested, will still
further facilitate loans, by increasing the pres
ent, and causing future demand for such
bonds.
In view Of the actual financial e1nbarrass-
n,ents Of the government, and Of the greater
embarr1ss1nents sure to come, if the necessary
means Of relief be not afforded, | feel that |
should not perform my duty by a simple an
novsncemont d my opinion Of the joint resolu-
ton which proposes relief only by increasing
circulation, without expressing my earnest dc