Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1865-12-08


ty of the capitalist, the white man was
excluded from employment, or had but
the second best chance of finding it
and the foreign emigrant turned away
from the region where his condition
would be so precarious. With the des-
truction of the monopoly, free labor will
hasten from all parts of the civilized
world to assist in developing various
and immeasurable resources which have
hitherto lain dormant. The eight OF
nine States nearest the Gulf of Mexico
have soil of eXuberant fertility, a
climate friendly to long life, and can
sustain denser population than Is
found as yet in any part of oar country.
And the future influx OF population TO
them will he mainly from the North, or
rom the most cultivated nations Of Eu-
rope. From the sutferings that have
attended them during our late struggle.
let US look away to the future, which is
sure to be laden for them with greater
prosperity than has ever before been
known. The removal of the monopoly
OF slave labor is pledge that those re-
gions Will be peoplCd by numerous
and enterprising population, which will
vie with any i'm the Union in compact
ness, Inventive genius, wealth and in
dustry.
Our Government springs from and
was made for the people-not the people
for the Government. TO them il owes
allegience; from them it must derive
ITS courage, strength and wisdom. But
while the Government is thus bound to
defer TO the people, from whom it de-
rives its existence, it should, from the
very consideration of It's origin, be
strong in it's power of resistance to the
! fol oh e ~,
lies, perpetuities, and class legislation,
are contrary to the genius of free Gov
eminent, and ought not to be allowed.
Here, there is no room for favored class
es or monopolies, the principle of our
| Government is that of equal laws and
freedom of industry. Wherever mo-
nopoly attains foothold, it is sure to be
a source of danger, discord, and trouble.
| We shall but fulfill our duties as legis-
lators by according "equal and exact
justice to all men," special privileges to
none. The Government is subordinate
to the people; but, as the agent and
representative of the people, it must be
held superior to monOpolies, which, in
themselves, ought never to be granted.
and which, where they exist, must be
subordinate and yield to the Govern
ment.
The Constitution confers on Congress
the right to regulate commerce among
the several States. 1t is of the first ne
cessity, for the maintenance of the I'm
ion, that that commerce should be free
and unrestricted. No State can be JUS
titled in any device to tax the transit of
travel and commerce between States
| The position of many States Is such
/ that, if they were allowed to take adj
vantage of it for purposes OF local reve-
nue., the commerce between States
might be iniuriously burdened, or even
virtually prohibited. 1t is best, while
the country is still young, and while
the tendency to dangerous monopolies
of this kind is still feeble, to use the
power of Congress so as to prevent any
selfish impeachment to the free circula-
ton of men and merchandise. A tax
on travel and merchandise, in their
transit, constitutes one Of the worst
forms of monopoly, and the evil is in
creased if coupled with O denial of the
choice OF route. When the vast extent
of our country is considered, it is plain
that every obstacle to the free circula-
ton of commerce between the States
ought to be sterniy guarded against by
appropriate legislation, with the limits
of the Constitution.
Here the President refers to the reports o.
the several Departments, and though his ref.
erence To them is full of interest, we have not
the space for his remarks thereon, and can on
" find room for the following extract from his
views on the financial policy OF the country
| meet YOU at time when the nation
has voluntarily burdened itself with a
T. debt unprecedented i'm our annals. Vast
as is its amount, it fades away into
nothin gwhen compared with the count
less blessings that will be conferred up
on our country and upon man by th'
preservation OF the nations life. Now
on the first occasion of the meeting o
!, Congress since the return of peace, it il
of the utmost Importance to inaugural,
a Just policy, which shall at once be pu
!, in motion. and which shall comment
itself to those who come after us for it
continuance. We must aim at nOthin.
less than the complete etfacement OF tn,
, financial evils that necessarily follow
state of civil war. We must endeavo
TO apply the earliest remedy to the lie
ranged state OF the currency, and no
= shrink from devising policy which
without being oppressive to the people
shall immediately begin to effect re
duction Of the debt, and, if persisted in
: discharge it fully within defiuitel
I fixed number of years.
/ 1t is our first duty to prepare in earn
est for our recovery from the ever-in
l creasing evils of an irredeemable pape
i currency, without sudden revulsion
and yet without untimely procrastina
: ton. For that end, we must, each i
i our respective positions, prepare tn
: way. / hold it the duty of the Execu
tive to insist upon frugality in the ex
; penditures; and u sparing economy
itself great national resource. OF tn
D banks to which authority has been Civ
, en- to issue notes secured by bonds of tn
i United States, we may require tn
: greatest moderation and prudence, an
=, the law must be rigidly enforced whe
0 its limits are exceeded. We may, eac
one of us, counsel our active and enter
e prising countrymen to be constantly Of
their guard, to liquidate debts contract
y ed III paper currency, and, by con
Quoting business as nearly as possibl
: on a system of cash payments or shoi
:, credits, to hold themselves prepared t
: return to the standard of gold and sill
n yer. TO aid our fellow citizens in tn
u prudent management of their monetar
!, affairs, the duty devolves on us to d
e minish by law the amount of pape
c money now in circulation. Five yea,
:, ago the bank-note circulation of til
4 country amounted to not much NOR
', than two hundred millions; now tn
u circulation, bank and national, exceed
/ seven hundred millions. The simpi
n statement of the fact recommends NOR
e strongly than any words of mine coul
Il do, the necessity of our restraining thi
expansion. The gradual reduction {
,, the currency is the only measure tbs
Il can save the business of the countr
II from disastrous caiamities; and tn
If can be almost imperceptibly accom-
y plished by gradually funding the n;
~ t,iional circulation in securities that ma
70 be made redeemable at the pleasure {
= the Government.
@ Our debt is doubly secure-first in tn
L actual wealth and still greater undeve
e oped resources of the country; an
= next in the character of our instit,
n tons. The most intelligent observes
e among political economists have n,
7. failed to remark, that the public debt
l. a country is safe in proportion as i
T. people are free: that the debt of a Il
, public is the safest of all. Our histoi
l. confirms and establishes the theor,
e and is, firmly believe, destined
y give it a still more signal illustration.