Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1865-12-23

active and enterprising countrymen to be con-
stantly on their guard, to liquidate debts ,coni
tractedin paper currency, and, by conduct
ing business as nearly as possible on a system
of cash payments or short credits to hold
themselves prepared to return to the standard
of gold and silver. TO aid our fellow-oitizens
in the prudent management of their monetary
affairs, the duty devolyes on us to diminish by
law the amount of paper money now in circu-
lation. Five years ago the bank note circula-
! tion of the country amounted to not much
more than two hundred millions now the
circulation, bank and national, exceeds seven
hundred millions. The simple statement of
the fact recommends more strongly than any
words of mine could do the necessity of our
restraining this expansion. The gradual re-
duction of the currency is the only measure
that can save the business Of the country from
disastrous calamitiw and this can be almost
imperccptibly accomplished by gradually fund
ing the nati6pal Circulation in securities that
may be made redecmable at the pleasure of the
Government.
Our debt is'doubly secure-first in the ac-
tual wealth and still greater undeveloped re-
sources Of the country and next in the char
acter of our institutions.a The most intelligent
observers among political economists have nJt
failed to remark, that the public debt of 4
country is safe in proportion as it's. people are
free, that the debt of republic is the safest of
all. Our history confirms, and establishes the
theory, and is, I firmly believe, destined to
give ID a still more signal illustration. The
secret of this superiority springs not merely
from the fact that in a,republic the national
obligations are distributed more widely through
countless numbers in all classes of society; It
has it's root in the character of our laws Here
all men contribute to thapublic welfare, and
bear their fair share of the public btrdeps.-
During the war, under the impulses of patri-
otism, the men of the great body of the peo-
pie, without regard to their own comparative
want of wealth, thronged to our armies and
filled our fleets of war, and held themselves
ready to offer their lives for the public good
Now, in their turn, the property and income
of the country should bear their just proper
tion of the burden of taxation, white ia our
impost, system, through means of which in
creased itality is incidentally impaired to all
the industrial interests of the nation, the
duties should be,so adjusted as to fall most
heavily on articles of luxury, leaving the nee
tessaries of life as free from taxation as the alb
solute wants of the government, economically
administered, will justify. No favored GLASS
should demand freedom from assessment, and
the taxes should be so distributed as not to
fall unduly on the poor, but rather on the ac-
cumulated wealth Of the country. We should
look at the national debt just as it is-not as
national blessing, but as heavy burden on
the industry of the country, to be discharged
with without u UNNECESSARY delay. )
have dwclt thus fully on our domestic af
fairs because of their transcendent importance
Under any circumstances. our great extent OF
territory and variety of climate, producing al
most everything that is necessary for the wants
and ovon the comforts Of man, make us singu
larly independent of the varying policy of for
'eign powers, and protect us against every ten
tation to "entangling ALLIANCES" while at the
present moment the rc-cstablishmcat of har
mony, and the strength that comes from har
mOny, will be pur best security against I" ma
tions, who feel power and forget right" Fol
myself, it has been aud it will be my constant
aim to promote peace and amity with all for
eign nations and powers; and have every
reason to believe that they all, without excep
tion, are animated by the same disposition.
Our relations with the Emperor Of China, SC
recent in their origins are most friendly Oul
commerce with his dominions is receiving new
developments; and it is very pleasing to find
that the government Of that'Empire manifests
COT tIcfo oafs Spskn