The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1863-01-29
a Message from President Lincoln.

WASHINGTON, Jan. 2O.-To the Sen
ate and House of Representatives
have signed the joint resolution passe,
for the immediate payment of tie ar
my and the navy of the United States
passed by the House on the l4th an'
by the Senate on the 18th.
The joint resolution is a simple au
thority amounting, however, under the
existing circumstances to a direction
to the Secretary of the Treasury to
make an additional issue Of 100000
900 in U. S. notes. Ii so much money
IS needed for the payment OF the army
and navy my approval is given, IN or>
der that every proper facility may be
afforded for the prompt discharge OF
all arrears of pay due our soldiers and
sailors.
While giving this approval, however
l think it my duty to express my sin
cere regret that it has been found nee
essary to authorize SO large an addi-
tional issue of U. S. notes, when this
circulation and that of the suspended
banks together have become so ALBUMS
dant as to increase prices beyond real
value, thereby augmenting the cost of
living to the injury of labor and the
cost Of supplies, and to the injury of
the whole country. 1t seems very plain
that 5he continual issue ofU. S. notes
without any check to the issue of sus-
pended banks, and without adequate
provisions for the raising of money by
lo&nSand for funding the issues so as to
keep them within due limits, must soon
produce disastrous consequences, and
this matter appears tome so important
that feel bound to avail myself ofthe
occasion to ask the special attention Of
Congress to it. That Congress has
the power to regulate the currency Of
the country, can hardly admit of doubt
and that a judicious measure to pre-
vent the determination Of this cul!en>
cy, by a reasonable issue Of bank circu.
lation or otherwise seems equally clear.
independently OF the general circula>
ton it would be unjust to the people at
large to exempt banks enjoying the
special privilege Of circulation from
their just proportion ofthe public bur
dens. In order to raise money by loans
most easily and surely, it is clearly
necessary to give every possible sup>
port to the public credit to that and
uniform currency in which taxes, sub
scriptions and all other ordinary pubs
lie debts may be paid, is almost if not
quite impossible. Such q currency can
be furnished by banking associations
authorized under a general act Of Con
gress as suggested in my message at
the beginning of the present session.
The security Of this circulation by the
pledge of L. S. bonds as herein sug-
gesced wouldfuther facilitate means by
increasing the present aud causing a
future demand for such bonds. In
view of the actual financial embarrass-
ment OF the government, and of the
greater embarrassments sure 10 come
II the necessary means ofreljef are not
afforded feel that | should not per~t
form my duty by a simple announces
ment OF my approval of the Joint reso- !
luton which proposes relief only by in
creaSlng the circulation, without ex~
pressing my earnest wish that meas
such in substance as those | have
just referred to may receive the early
action Of Congress. BY such meas
ures, in my opinion, will payment be
most certaib9y secured, not only to the
and navy but to all honest cred
of the Government.
ISi0ned1 A. LINCOLN