Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1867-12-05

rogress of nations, negroes have shown
,ss capacity for government than any other
ace Of people No independent government
i any form has ever been successful In their
lands. On the contrary, wherever they
AVE been left TO their own devices they
rave shown constant tendency to relapse
INTO barbarism. In the Southern States,
however, Congress has undertaken to confer
1pon them tho privilege of the ballot. just
released from slavery it may be doubted
whether as class they know more than
their ancestors did. Indeed IL is admitted
that the blacks of the South are not only |
regardless of the rights of property, but so |
utterly ignorant Of public affairs, that their
voting can consist of nothing more than
ballot 10 the place where they are
directed to deposit it.
The President then goes on To say that he
recommends the repeal by Congress of the
military act of reconstruction, and will JOIN
heartily in any just plan to restore the Union
ON an equitable and patriotic basis. Heal
ludes TO the fact that those bills, although
unconstitutional, have not been of that char,
actcr which required the President to defend
and protect the Constitution against Their
encroachments, and which, possibly, in
times of party excitement might lead TO civil
war He protests against the Civil Tenme
Bill asks for its repeal, and says that 1t is
unconstitutional, and intcrteres to u dan
gerous extent with the prerogatives of the
Executive in the removal of officers. In al
luding to finance, the President says that the
present condition of our finance and circula-
ling medium is one to which the early con-
sideration of Congress is iEvitcd. He says
that the proportion which the currency OF
any country should bear to the whole value
of the annual produce circulated by It's
means, is question upon which political
economists have not agreed.
Nor can it be controlled by legislation, but
must be left to the irreyocable laws which
everywhere regulate commerce ana TRADE.
The circulating medium will ever irrcsistby
flow TO those points where ii is in greater
demand. The law of demand and supply is
as unerring as that which regulates the ride
of the occaa. AT the beginning OF the rebel
lion the bank note circulation of the country
was not more than two hundred millions OF
| dollars now the circulation of national
| bank notes, and those known as legal ten
ders is nearly seven hundred millions, while
| il is urged by some that this amount should
be increased, whilst others contend that a
decided reduction is absolutely essential ia
the best interests of the country. In view oil
these diverse opinions, 1t may be well to as
certain the real value Of our paper issues,
when compared with metallic or convertible
currency. For this purpose let us inquire how
much gold and silver could be purchased by
the seven hundred millions of paper money
III circulation. Probably not more than hall
the amount of the latter, showing that when
our paper currency is compared with gold
and silver, its commercial value is compress
sed into three hundred and fifty millions
This striking fact makes it the obvious
duty of the Government, as early as may
be CONSTANT with the principles OF so'int
political economy, to take such measures
as will enable the holders of lis notes
and those of the National Banks, 10 con
vert them without loss into specie or Ill
equivalent. A reduction Of our circuatin.
medium need not necessarily follow
/ This, however, would depend upon the law o
demand and supply, though it should b
borne in mind that by making legal tende
and bank notes convertible into coin or II
equivalent their present specie value III tn
hands of their holders would pe enhanced
one hundred per cent. The attention o
Congress is carly invited to the necessity o
thorough revision Of our revenue system
Our Internal Revenue laws and mpost sys
tens should be so adjusted as to bear mos
: heavily on articles of luxury, leaving III
/ neccessaiies of life as free from taxation a
, may be consistent with the real wants OF til
i Government economically administered
Taxation would not then fall unduly ON til
c man Of moderate means; and while non
i would be entirely exempt from assessment
! all, in proportion to their pecuniary abilities
: would contribute toward the support OF IN
+ State.
A modification OF the Internal revunu
system by Il large reduction in the numbc
> Of articles now subject to tax would be 10
IL ANITA
! the citizens and the Government. 1t woul
:, render the laws less expensive and more ce
:, tain. remove distractions to industry, Jesse
|, the temptations TO eyade the law, and d
= minsh the violations and frauds pcrpetratc
= upon its provisions.
- The condition OF our foreign relations
-, pcaeeuhlc, The President says no arrang
=, u ment has as yet been reached for the scttl
~ mcnt Of our claims for British depredatio
:, upon the commerce of the United State
u | have fiji il my duty to decline the prop
y sition OF arbitration made by her Majesty
=, Government because ii has hitherto be-
- accompanied by reservations and Limitation
u incompatible with the rights, interests III
= llonol Of orr country. II is not to be a
=, pretended that Great Britain will persist
d her refusal 10 satisfy the just and rcasonal
~ CLAIMS which involve the sacred principle
,u IuH-llttlh cHtloll, u plintiIlic hchNNioilh, u
~ more important to the United States than
~ :, all other commercial nations
If A treaty las been negotiated with De
~ mark lr ihe purchase Of the islands Of .
~ -. I0li aid St. Thomas, in the Yves, lhdi
- Tor IL naval station.
- The President closes the message n .
~. ~ loWa The abuse Of our laws by The /;
n acstinc prosecution OF The African sla
n ~ trade from American ports or By Amuliy
Wn n, ~ -" "
~ tcncwdl III this part Of the world u ont
TX uiGell Under these circumstances ii
~, ~ come. il question whether We slall prop
I'll I'll 10 lpr MaiQsty's Government Il snspeNs
i, or discontnuance of the stipuiations
III n maintaining naval force for the supp
'', Sion Of that trade,