The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1865-12-07

consideration OF Congress. The Secretary
of the Treasury will lay before you a full
aud detailed report of the receipts and dis
bursements of the last fiscal year, of the first
quarter OF the present fiscal year, of the
probable receipts and expenditures for the
other three quarters, and the estimates for
the year following the Both of June, 1866
| might content myself with a reference to
that report i'll which you will find all the
information required for your deliberations
and decision. But the paramount impor-
lance of the subject so presses itself on my
own mind, that cannot but lay before YOU
my views of the measures which are re-
|quired for the good character, and, | might
almost say, for the existence of this people.
The life of Republic lies certainly in the
energy, virtue, and intelligence of its citi-
zens; but it is equally true that a good rev
enue system is the life of an organized Gov
ernment meet you at Is time when the
tatlon has voluntarily burdened itself with
debt unprecedented in our annals Vast az
ID Its amount. it fades away into nothing
when compared with the countless bless
ings that will be conferred upon our country
and upon man by the preservation of the
nations life Now, on the first occasion of
the meeting OF Congress since the return of
peace. 1t Is OF the utmost Importance to in
tugurate just policy, which shall at once
be put Ill motion, and which shall commend
itself to those who come after US for its con-
Snuance We must aim at nothing less
than the complete effacement of the fnan-
cial evils that necessarily followed state of
civil war. We must endeavor to apply the
earliest remedy to the derauged state of the
currency, and not shrink from devising a
policy which, without being oppressive to
the people, shall Immediately begin to ef-
feet reduction of the debt, aud, if persis.
ted in, discharge it fully within definitely
fixed humber Of years
1t is our first duty to in earnest for
our recovery from the ever-increasing evils
of an irredeenable currency, without a sud-
lien revulsion and yet without ~untimely
representation For that end, we must
each IN our respective positions, prepare the
way. | hold it the duty of the Executive
to insist upon frugality in the expenditures !;
and sparing economy is itself great ma
tional resource. OF the banks to which
authority has been given to issue notes Sc
cured by bonds of the United States we
may require the greatest moderation and
prudence, and the law must be rigidly en-
forced when its limits are exceeded We
may, each one Of us, counsel our active and
enterprising countrynen to he constantly on
their guard, to liquidate debts contracted
i'll paper currency, and, by conducting bu-
siness as nearly as possible on q system of
!: cash payments or short credits, to hold
, themselves prepared to return to the stand
. ard Of gold and silver To aid our fellow
citizens IN the prudent management of their
monetary affairs, the duty devolves on US to
diminish by law the amount of paper money
now in circulation. Five years ago the
bank-note circulation of the country amour
ted to not much more than two hundred
uilIions; now the circulation, bank and ma
tional, exceeds seven hundred millions -
i'hs simple statement of the fact recon-
mends more strongly than any words OF
mine could do, the necessity of our restrain.
ing this expansion The gradual reduction
Of the currency is the only measure that can
save the business of the country from dis
astrous calanities and this can be almost
imperceptibly accomplished by gradually
funding the national circulation in securi
ties that may be made redeemable at the
pleasure of the Government
Our domestic contest, now happily ended, hal
lett otne traces in our relations with one at leas
OF the great maritime Powers. The formal &C
cordance OF belgerent rights to the insurgeu
States was Unprecedented, and has not beer
Justified by the issue. But in The systems
neutrality pursued by the Powers which made
hat concession, there was a marked difference
The materials of war for the insurgent State,
we're furnished, in great measure, frol, ttt
workshops of Great Britain; and British ships
manned by British subIeCts, and prepared ful
receiving Britlsh ornaments, sailed from the
ports OF Great Britain to make war ON American
commerce, under the shelter of commission
from the insurgent States These ships havins
1nce escaped iom Biitish pottr, ever atterwardi
entered hem IN every part of the W. rid. to ref
and 80 to renew their depreda;ioEs The con
sequences OF ms conduo were most disastrous
I" he States then 10 rebellion, increasing thej
desc lat ion and misery by the ptolone a non O
our civil contest. Ii had moreover, the effect
10 great extent, 10 drive the American hrs
from he sea, aud TO transfer much OF orr ship
ping and cur commerce to the very Power W hose
subjects had created the necessity for such n
charge. These events took PLACE before wa,
called to the adminis ration of the Government
The sincere desire for pesce by which 1 am All
! mated led me t1 approve The pr yposal areAd
made, tO submit ihe Questions which had thu,
trysen between Countries to arbitration. Tie
questions are nf such moment that they mus
nave commanded the attention at the grea
PnweIs, dud are ST. interviewer with the peace
and interests of every one of them as TO have
ensured an impartial de-islon. | regret TO in!
i'TW you iuhl 6FSHl Dfltdln declined the arbi-
frament, but, On the other hand, invited us t,
the formation of a joint commits ion To settle
nutual claims between the two countries from
which those tor the depredatious before men
toned should be excluded. The proposition, in
{ that very unsatisfactory form, has been declined
The Quilted States did not present the subject
} as an impeachment of the good faith OF "A power
which wac protesting the most friendly disposi-
tons, but as involving questions OF public Jaw,
of which the sett cement is essential to the peace
/ If d.. thou q i'm p,
their lrJ ed citizens would have followed acci.
| denialiy on dec ision against Grea, Britain
such compensation Wa not their primary OBJ
ject. They had higher motive aud it was ia
the interests of peace and justice to ESTABLISH
important principles OF international law The
ca respvndenCe viii be placed betnre yuu-J he
ground on which The BRITISH Minister ~ests his
stihcanon is, substantially, thar the mun.c pa.
Jaw Ut baIldn and she domestic interpfefs-
tIUns OF that law, are the measure of lis duiy a.
II neutral; and feel bound to dec are NV nI,in-
ion, before you and before the world thai tba
justification cannon be sustained before the fri
Jui al OF nations. AT the same time do nof
advise to any p e@eht attempt al redress by actr
1T legls latloh- For the future, friendship be-
'ween the Two countries must rest IN the ba is
VI mutual Justice.
From the moment of the establishment of ou,
neec0nsttut'uD. he civilized word Ias bee u CON
vuised by revolutions in Tie in crest of dem err
cy or of monarchy; but thru all these revui utiope
me United States have wisely and firmly retus ed
| 90 oec"mep r"pagandists Ui repu bicanisn. Ii IL
the oniy government suited TO our condition. but
%e have never sought to impose it upon oi b. rs
| md we have consIsIently follow ed the advice IF
Washington u recommend 1t Only by the careful
preservation an prudent use of the blessing Du-
ring all the intervening period the pnlcy OF ku-
lripean Powers aud OF The United States has on
he whole been harmonious. Twice, indeed, IA
n"rs ofthe invasion of come parts Of America
The interests OF monarchy, have prevail
led twice my predecessors have had occa- ion to
announce the views OF this nation respect to-
such interference. On both occasions the remon-
raoce OF The United States was repeated. from
deep conviction, on the part of European Gov
..rnmerts, that the system of Observation-Disclosures
| .nd mutual propagandism was the true rule Tor
wU bemlspheres. Since these times we have
advanced 10 wealth and power; bat we retain
| ne same purpose to leave the nations OF Europe
TO choose their own dynsstes and form thei,
| of government 'Fhia onoe;.,a.,