Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1863-01-20
By Telegraph.
,,FpoRTEp FOR THE DAILY EMPIRE
MONT DISPATCHES.
SPECIAL MESSAGE FROM THE PRsI-
DENT


TO the Senate and House Of RepTesentd-
tives IL have signed the joint resolution TO
ptoyide for the immediate payment OF Army
and Navy of the United States passed BY t9S
IInpgs ON the 18th, and the Senate on the 10th.
The Joint resolution is simple authority,
amounting however, under the existing cir
coms,ances, to direction to the Secretary of
the Treasury to make an additional issue OF
800 OO0,O 900 United States Notes. II 30 much
money is needed for the payment oi the Army
and Navy, my approval is given IN order ths'
every prper facility may be afforded Tor tue
prompt discharge of arrears OF pay 10 our sold
iers and sailors While giving this approval
however, think il my duty TO express my SIN
csre reeret that it has been found necessary to
authorize so large an additional issue of Uni
ted States notes, when this circulation and
that of the suspended banks together have be-
come already so redundant as to increase prl'
ces beyond real value, thereby augmenting the
cost Of living,t the injury OF labor aud cost
supplies, TO the injury OF the whole country
Ii scenes very plain that the dontInued rs
sue OF Tinted States Notes, without any cheek
to the issues Of suspended banks and without
adequate provision for the raising OF money
Inv loans, and for funding the issues so as to
keen them within due limits must soon pro
appesrs to me so important, that stell bound
to avail myself of the occasion to ask the spec
ial attention of Congress to it That Con
sress has the power to regulate the currency
of the country, can hardly admit OF doubt
and that iudictous measure to prevent the
deterioration Of this currency by reasonable
taxation of bank circulation or otherwis, is
needed, scenes equally clear.
Independent OF this general consideration
it would be unjust to the people at large to eA
empt banks, enjoying the special privilege o
circulation, from their just proportion OF th
nublic burdens. In order to raise money b
way Of loans most easily and chesply, 1t
clearly necessarily to give every possible sur
port to the public credit To that end UNI
form currency, in which the taxes and sut
seriptions to loans, and all other ordinary Pur
lie debts may be paid IS almost, 1t not qule
Indispensable. Such currency can be iu
nished by banking associations authorized III
der a general act OF Congress, and suggeste
in INV message at the beginning of the pre-
eut session. The securing of this circulatio
by the pledge of the United States Bonds a
herein suggested, would still futher facllita'
loans by increasing the present and causr
the future demand for such bonds.
In view of the actual financial embaras
ments of the Government and the greater eT
barassment soon to come if the necessa
means of relief are not afforded fell that
should not perform my duty by simple a
nouucement Of the approval of the jolnt-res
luton which proposes relief only by iucret
ing the circulation, without expressing n
earnest DESIRE that measures, such IN su
stance as those have referred to, will recei
the early sanction of Congress. By such met
ures, in my opinion, will payment be m'
certainly secured not only to the Army a
Navy, but to all honest creditors; and satist'
tory provision be made for the future dema
on the Treasury ABRAHAM LINCOLN