North Branch democrat. [volume] (Tunkhannock, Pa.) 1854-1867, 1865-12-20

state of civil war We must endeavor to
apply the earliest remedy to the deranged
state of the currency, and not shrink from
devising policy which, without being op-
pressive to the people, shall Immediately
begin to effect reduction of the debt, and
if persisted in, discharge it fully within a
definitely fixed number of years.
1t is our first duty to prepare in earnest
for our recovery from the ever-increasing
evils of irredeemable currency, without
sudden revulsion, and yet without untime-
ly procrastination. For the end we must,
each in his respective positions, prepare the
way. hold it the duty of the executive
TO insist npon frugaity in the expenditures;
and sparing economy is itself great ma
tional resource. OF the ba"ks to which au-
tIrority 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 countrymen to be constantly
on their guard, to liquidatc debts contract
ed in paper currency, and by conducting
business as nearly as possible on system
of cash payment 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 momentary affairs, the duty devolves
OH us to diminish by law the amount of pa
| per money now in circulation. Five years
ago the bank-note circulation of the coun-
try amounted to not much more than two
hundred millions; now the circulate on,
bank and nationa 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 that expansion. The grad
ually reduction ofthe currency is the only
measure that can save the business of the
country from disastrous calamities and
this can be almost imperceptibly accom-
pIished bv gradually finding the national
circulation in securi les that may be made
redeemable at the pleasure of the govern
ment.
The Department of Agriculture, under
its present direction, is accomplishing
mnch in developing and utilizing the vast
agricultural capabilities ofthe country and
for information respecting the details of its
management reference is made to the anu
al report of the Commissioner
have dwelt thus fully on our domestic
affairs because of their transcendent impor-
tancc. Under any circumstances, our
great extent of territory and variety of cli-
mate, producing almost everything that is
necessary for the wants, and even the com
forts of man, making us singularily inde'
pendent of the varying policy of foreign
powers, and protect US against every temp
tation to entangle alliances, while at the
present moment the reestablshment oil har-
mony, and the strength that comes from
harmony, will be our best security against
"nations who feel power and forget right"
For myself, it has been and will be my
constant aim to promote peace and amity
with all foreign nations and powers and
| have every reason to believe that they all
without exception, are animated by the same
disposition. Our relations with the En-
peror of China, so recent in their origin,
are, most friendly-Our commerce with
his domnions is receiving new develop
ments, and it is very pleasing to fad that
the government of that great empire man.
ifcsts satisfaction with our policy, and re-
poses just confidence in the fairness, which
marks our intercourse. The unbroken
harmony between the United States and
the Empire of Russia is receiving new
support from an enterprise designed to car
ry ;elegraphic lines across the continent Of
Asia, through his dominions, and so to co.,
meet us with ali Europe by new channel
of intercourse. Our commerce with South
America is about to receive encouragement
by direct line of mail steamships to the
rising Empire of Brazil. The distinguish
ed party of men ofscience who have recent
ly left our country to make scientific ex-
ploration of the natural history and rivers
and mountain ranges of that region, have
received from the Emperor that generous
welcome which was to have been expected
from his constant friendship for the United
States. and his well-known zeal in promo
ting the advancement of knowledge. A