The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-06-14
MOULLOoH on OUR FTNANOEg.

You must not expect that our month.
y statements for the rest Of the present
year. and early part of the next fiscal ysaE
WI De as satisfactory az they have bsSn
.ol many months past. The donations or
ooSulies 10 soldiers. preparations for
threatened Indian war even n v-ar IL.
self should be avoided, and vsrv Eh.r.l
appropriations of a miscellaneous obsroo-
ter will cause uausual heavy drains =. =.
made upon the Treasury, wh;le on 49,.
other baud the genera! failure of the Wheat
crop and partial failure of the corn eron
/ last year, slow progress in the restoration
OF the Southern States to their proper re-
laion with the Federal Government, duh
ness OF trade throughout the country.
partly the result of a decrease of produce
ton. and partly of the natural reaction
which always follows periods Of excite.
ment and speculation. together with re-
duced taxes, will very considerably affect
our revenue.
This combination Of adverse cfrcuh<
stances may retard a return to specie pay
ments, and with large issues of bonds To-
the Pacific Railroad and its branches or
divisions, will prevent, for brief seasons
a reduction of the public debt, and may
even render a temporary increase of il I'M
aVoidable. But it will not weaken our
faith IN our ability to move on again in
the right direction at an early day. On
the contrary, / believe that this check to
our progress will lead to improvements
in our revenue laws and to the increase Of
their efficiency in their execution, hasten
the representation in Congress of the
Southern States and secure greater econ
omy in all branches of the puplic service.
He says, in reply to their surprise,
thus expressed, that he has not lately con.
tracted the currency, and to show that his
opinion on contraction has undergone no
change, he reiterates that be is as much
persuaded as ever of the importance and
necessity of an early return to specie psys
ment. What the country needs to secure
this, he says, Is economy and industry
He adds that be nevertheless suspended
the reduction of the circulation of u. s.
notes, and for the following reasons either
of which would perhaps have justified his
course, and all of which have had more
or less influence in determining it.
lst. The views of majority of the
members of congress, as indicated by the
number of votes last winter, were adverse
to immediate contraction, and I have not
felt at liberty to place myself in practical
opposition to the law making branch Of
the Government, without whose support
l must be powerless.
Cd. There has existed for SONS mont his
past anxious forebodings of financial
troubles, and while they continue I have
been apprehensive tina. contraction of
currency, the object and effect of it being
misunderstood or misinterpreted, might
produce panic in the commercial cities,
which, extending over the country, and
beyond the speculative interest, would
injuriously affect the legitimate business
and the revenue dependent upon it.
81. A large amount of interest bear
ing notes are to be paid or converted with
in the present and next fiscal year, to
which it seemed prudent for me to direct
my attention. Touching the question of
cnrtailmsnt of the circulating notes, to
be determined from month to month by
the condition of the country and Of the
treasury.
Ash. Anticipating that the failure Of
the crops and other circumstances allud-
ed 10 would seriously affect business, 1
have considered it important the public
mind should not be diverted by the crili.
cisms and complaints of those who are
opposed to contraction, from real causes
of trouble. That a sound policy should
not be put in peril by being made the
scaPegoat for evils resulting from differ
ent causes. He concludes:
You will not infer from what / have
written that am not hopeful ia regard to
our 6nancial future. 1t has been my con-
slant aim to SO manage the national busi-
ness as to aid in bringing the country to
healthy financial condition, without be-
ing subjected to the severe
disasters which many judicious per-
sons have supposed large debt and de-
rangment of business and diminution of
industry occasional by the war, and q
redundant currency, would render inevi-
table. My faith that this can be accom-
plished is mistaken. Causes which are
now operating against US are exceptional
and Temporary,
The prospect Of good crop of winter
wheat was never better. More spring
wheat has been soWn, and more corn has
or will be planted this season than ever
before. The people are beginning to COM
prehend again this important truth which
seems to have been disregarded for some
years past, that prosperity is the result Of
labor; that industry and economy are inc
dispensible to the national as we'll as indi-
vidual wealth. I shall be gTieVously diss
appointed if another year does not WitBess
a large increase Of industry, o! enterprise
and of revenue; a decided progress to-
wards resumption of specie payments, aud
a steady reduction Of the bubble debt.
Your obed't ,serY't, III. MCCULIoCH.
Dr. GE 5RoE. A. CUTLER This geutle-
man, whom the old citizens of Kansas
well know. and whose name has become
notorious 10 connection with the serious
charge of burning his store IN Kansas
| City, was In town yesterday. His trial
has not come off, but be is entirely conf
dent of a triumphant scquiltal. At the
last term of the court in Jackson county,
Mo-, his counsel urged with all their
might his trial, but the case was post
poned at the instance Of the prosecutor,
and the Dr. subsequently admitted to bail.
DR.. Cutler has held prominent positions
ia this State. and prior to the alleged Of
fence charged against him, enjoyed the
public confidence, and had large circle