The Weekly Perrysburg journal. [volume] (Perrysburg, O. [Ohio]) 1861-1???, 1867-06-07
Tne T,InnncInI si,DntIon.

Ua
The confao OF Which he expresses himself
as follows, on Tie fnoncial situationi
"You must not expect that ouf moutliy
statements for Tho restsol the present. aud
tie early part ot the ncxt fiscal year, wal
be as satisfactory ns they have been ,ior
many months past. The donations or bdur.
ties to soldiers, Preparations for a thrcat
cniug Indian war, even II war itsoll ehonl1
be avoided, and the very liborul appropra-
tions of miscellaneous character. wll
cause unueually heavy drafts on the treas
ury; whilo on the other hoHd The general
failure of tho corn crop last year, slow
progress in the restoration ct tho Southern
States to their proper rclitioue with the
Federal Governments, dullness OF trbde
throughout the country, partly thcresult OF
decrease nf production aud partly Of n re-
action which always follows u poriod of
excitement, together with tho reduced
uxcs, viii very considerably affect our ROVE
onue. This combination Ot edvereo cir
cnnetauCes may rctard return to specie
payments, and with the largo issues ul
bonds to be nude to the Pacific liuirOnd
aud tla branches or divisions, viii prevent
for a brjaii season, the reduction OF tho pub.
lie debt, aud may even render temporary
Increase ia il unavoidable. but ii will not
weaken MY iNitl, In uur ability to move on
again in the right direction at an carly dav
On the Cuntrafy,I bolievo that this chccl,
TO our progress will lea to Improvement
IN our reyenuo laws, aud to Increased cl-
cioncy in their executions hnston rcpresen.
ttiou in Congress OF Southern States, and
SECURE grrntcr economy in alt branches of
the public service. Some surprise may eX
list that ! haze not. for somo months past,
reduced the circulation OF United States
notes according TO authority conferred upon
me by Congress, and inleroucG may be
drawn from il that my opinion upon the
! subject OF contraction las Undergone
| chaugn. Permit me TO say, thcroloro, tIrt
! am az much persuaded, us ever, of The inn
portancc OF an oar!y return OF specie pay.
ncuts, aud Uf currency as a neans OF check.
ing extravaganza aud speculation, aud Of
increasing production, without which al
efforts TO restore permanently specie
standard viii DO iuoiloctdnl What the
country needs in order that specie pay.
mCutS may be resumed aud maintained,
and real prosperity secured iS an Increase
of Industry aud restoratiun Of our former
habits OF economy W apeOplo among our.
selves We must earn more and spond
less. In our trade with lore&n nations we
must sell moro or buy less, Any different
prescription for eXjsling financial evils is
40 my Judgment qnHckory. That contrGc-
WIZ lehu To ofIlE aOont lhld deAllabie coh'
diliou of thugs, | have never doubted; but
nave neVertheleSs suspended reduction
OF tho circulation of Uutcd States notes aud
'or tno I0uoWihS reiSohI elihrr OF Wllch
would porhars h,yo iu-diod MY course,
and oil of watch have had moro or less in.
lluencc in determining it:
Flrst mo vows OF a mUputJ ot the
'nemuels OF VonEresS, ns Indicated py a
numoer o! VoleS last WINTER We're adverse
TO immaculate contraction, and | have not
lo!l at uueriy 10 place lnys u IN practical
opposition to the lawmaldrg bf,nch Of tho
GoNernmenh without whose support must
DC power less
Socond. thero have existed for some
months past anMous loIe6odings OF Inln ial
ttouoiasi Aud Wn'e ihey conlpu,d have
been apprehehs'Vc that contraction OF the
currency the ohJoet AMI eject OF 1t being
u'Suh"efS'ooa or mlsIhtelpreloli might pro
duco panic ~ tue primer at tios, and
| such extending over the cou ltry ana be-
yohu specuIatlVe interests, Wonlu lUlure
nlifet the leglIlmRto business and ihe rev
enue dependent upon It.
Ihrd' largo amount OF interest bear
ng bonds are to he paw or converted with
IN tho present and next fiscal year, TO
which 1t scemcd prudent for me Iirst to
direct my attention, leaving the question
OF a cnrtaiIment OF circulating notes to 6o
determlned trom month to monih 10y tho
condition OF the country aud the Treasury.
Fourth Anticipating that tho failure OF
the crops, and Other oroum4ionces alluded
! to, would seriously ailoct business, havo
considered it important that tho public
mind should not be diverted by the criit-
oisms and compla0ls of those who arc
! opposed TO contraction from the real causes
OF trouble, that sound policy should not
be put IN peril by being made 4 "scapegoat'
| Tor Owls resulting from UlilerNNt CAUSES.
! Finally, YOU will not iUfCr from what |