The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1865-12-08

shah commend itselfto those who como afier rs
fot Us continuance. \ ~ "
7 " y yTux puntic DEBr. = Y
recovery from the ever increasing evils Of IN ir-
redeemable currency. without sudden reyui'
sion. and yet without nntimely procrastinaiion.
/ For thatendg we muss ench IN our respective pc
sitiohs. prepare the way fAhbld IL the duty Of
the Executive to insist upon frugality In the ex-
pendituns; and sparing economy Is ITSELF q
| great national resource.-0f the banks to which
authority has been given, to issue, potes secured
byybohds OF tho Omitted ySh,ss. w may require
\ the decentralization. and prudence, and tho
law must be rgidly enforced when its limits are
l-exceeded. --Wemay, each ono Of Us, counsel our
active and enterprsing countrymen TO be con-
:stantly on their guard, to liquidAtc debts con-
tractcd In q paper currency, and. by conducting
business MS nearly as possible on system Of cash
payments or short credits. to, hold themselves
prepared to return To the standard Of gold and
silver. To aid our fellow citizens IN the prudent
managementOf their monetary affairs, the duty
deyolyes, on us to diminish by law the amount Of
paper money now In circulation. Five years ago
the bank'note circulation or THE country amount
to not much more than two hundred millions;
now the circulation, bank and national, exceeds
seven hundred millions The simple statement u
the fact recommends more strongly than any
w0r.ls of mine could do, the necessity Tor our re-
straining this expansion. The gradual reduction
sof the currency n the only measure thatcan save
the business of the country from disastrous cala.
mites; aal this can be almost impcrceptibly nc
complshsl hy gradually funding Tbs national cir
.culatipn 10 securities that may be rcdecmable ut
tho pleasure OF the Government.
Our debt isiloubly secure-6rst In the actual
wealth and still greater unleycopel resources OF
the country; and next in the character of our in
stltutons.. The mostintellgent observers among
political economists have not faded to remark,
that the public debt OF o country Is safe In pro-
portionasits people arc free; that the debt Of n
Republic Is the safest OF ALL Our history con
hrms and establisheslthc theory, and Is, j firmly
believe destined to give II still more signal illus
tration. The secret of this superiority springs
not merely from the fact that in n republic the
national obligations are distributed more widely
through countless numbers in all classes ofsocie-
W; Ii has its root in the character Of our laws.
Here all mel contribute to the public welfare and
bear their fair share of the public burdens. .Du-
ring tho war, under the impulses, of patriotism,
the men Of the great body Of the people. without
REGARD 10 their own comparitiyc want OF wealth, .
thronged to our armies aud filled our fleets OF
war. and held themselves really to offer their lives
for tho public good. Now, In thelrturn, the pro.
perty and income Of the country should bear their
Just proportion of tho burden Of taxation. while
In our impost system, through means Of which in-
creased vitality ID incidentally Impaired to oil the
industrial interests OF the nation. the duties
should be adjusted rs to fall most heavy on arti
cles Of luxury, leaving the necessiries OF life rs
free from taxation as the absolute wants Of the
Government, economically administered, will JUS
tify. Nj fivoured class should demand freedom
from assessment, and the taxes should DO 30 dis
tribLted as not to fall unduly on the poor, but
rather on the accumulated wealth ofthc country.
We should look at the national debt just rs II is
not ns national. blessing, but as aheayy burden
on theindustry Of the country, to be discharged
without unnecessary delay. 3"'
FOREIGN AFFAIRS. Pc. Tr1o
have dwelt thus fully on our domestic az
fairs because Of their transcendant Importance.
Under any circumstances, our great extent oil
territory and variety Of climate, producing al
most everything that is necessary for the wants,
and even comforts of man, make us sngularly
independent of the varying policy Of foreign
powers, and protect US against every tempta-
ton to "entangling alliances" while at the
present moment the rc-establishmcnt OF har.
inony. and tho strength that comes from har-
mony, will DO our best security against "na-
tons who feel power and forgot right" For
myself, it has been, and will DO my constant
aim to promote peace and amity with all for
cign nations and powers; and | have every
reason to believe that they all, without cxcep-
ton, are animatcdiby the. same disposition
Our rotations with the Emperor of China, s11
recent in their origin, are most friendly. Our
c0minercc with his duminions Is receiving new
developments; and II is very pleasing to find
that the Government of that great Empire
manilcsts satisfaction with our policy, and 70
poses just confidence in tho fairness which
marks our intercourse. The 'unbrokcn har.
mony between the United States and the Fun
peror OF Russia is receiving u new support from
nm enterprise designed to carry telcgraphc
lines across the continent OF Asia. through his
dohnniOns, and 90 to connect us with all Ed |
rope BY q new channel ut intercourse Our
commerce with South America 10 about to rc- |
cciyc encouragement by direct line of mail
steamships to the rising Empire of Brazil. The
distinguished party of men OF science who
have recently left our country to make nscien- |
tifc exploration OF tho natural history and
rivers and mountain ranges OF that region,
have received from the Rinperor that generous
welcome which was to have been expected from
his constant friendship for the United States.
b. and his well,known zeal in promoting the nd
,yancement Of knowledge. ,..r.,I .rf .s.s
A hope IL entertained that our commerce
with the rich and popuous countries that Dor
der the Mediterranean sen, may be largely in
creased. Nothing will be wanted on the part
of this Government to extend, the protection
Of our Gag over tho enterprise Of our fellow.
citizens. We receive from the Powers in that
region assurances Of goodwill. and IL Is wor.
thy o! note that special envoy has brought
us messages of coincidence on the death of our
late Chie Magistrate, from the Beg of Tunis.
whose rule includes tho old dominions OF Car |
thage, on tho African coast. 10 ''''.'
,'0at AFFAIRS WITH GREAT BRITAIN.
Our domestic contest, now happily ended,
has left some traces in our relations with one,
at least, of the great maritime Powers. The
formal accordance, of ,bclligercnt rights TO the
insurgent States was unprecedented, and has
not been justified by the issue. But in the sys- |
tens Of neutrality pursued by the Powers
which made that concession, there was a
marked difference. The materials OF war for
the insurgent States were furnished, in great
measure, from the workshops OF Great Britain
and British ships, manned by British subjects,
and prepared for receiving British ornaments,
sailed from the ports Of Great Britain to make
war on American commerce, under tho shelter
Of commission from the insurgent States. |
These ships, having once escaped from British
ports, ever afterwards entered them In every
part Of the world, To re-ft, and so to renew
their deprcdations. The consequences OF this
conduct were most disastrous to the States then
in rebellion. increasing their desolation and
misery by the prolongation OF our civil contest,
1t had moreover, tho effect, to great extent,
to drive the American Gag from the sea, and to
transfer much Of our shipping and our com
merce to tho very Power whose subjects had
created the necessity Of ,snch change. These
events took place before | was called to the nd.
ministration Of the Government The sincere
desire for peace by which nun animated, led
me to approve the propoa al already made, 70
snhmit Tho rnos fiop which had thus arisen be-