St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1867-12-06

would pay the national debt in fifteen
years. 1t Is vain to hope that the ne
groes will maintain their own ascenden-
cy."
He discusses the extent to which the
President may 90 in protecting the Con-
stitution and in opposing an unconstitu-
tlonal act of Congress, and says it has
'aused him much deliberation, and he
believes that Executive resistance to I'M
constitutional acts, might in times of
high political excitement lead to civil
war. The executive would concede
much TO preserve the peace, but there
may be times when he would have TO
take stand regardless Of the consequent
ces. The so-calIed reconstruction acts
do not come within the purview just
mentioned, though strictly unconstltu-
tional The people were not wholly
disarmed OF the power of selt-defence.
In all the northern states they still held
in their hands the right of protection,
and the late results of the ballot show,
he says, that his faith in the people was
not misplaced.
The civil Tenure bill is next discussed
and denounced as unconstitutional, extra
judicial and promotive of fraud in pre-
venting the removal of dishonest officers.
The President then Celebrates the fl
nancial question and invites to it the
early consideration of Congress. In
comparin" the currency circulation OF
seven years ago with the present, he
says that the striking fact makes it the
obvious duty of the Government to take
such measures as will enable the holders
of its notes and those of the National
Banks to convert them. without loss, IN
specie or its equivalent. 4 reduction OF
our circulating paper medium need not
necessarily follow. This would depend
on the law OF demand and supply, though
it should be borne III mind that. by max
ING legal tender and bank notes converti-
Die in coin or its equivalent on the pres
ent specie value, it would be enhanced
one hundred per cent. The varied issue
of our bonds, and the gold and paper in
tercst OF the same, is alluded to at some
length. and the President declares that
equal and exact justice requires that all
Il , +,,.. &C ,Io E,,-or,,,,,t eLNnli
be paid in Il currency of uniform value
not gold tor one and paper for another,
lie favorS the necessity of retiring our
paper currency, that gold and silver
NAV cease TO be articles OF traffic,
and r, turn to our avenues of trade. 1t
is unreasonable TO expect. he says, 4 re-
turn to sound currency 80 long as the
Coy crnm cnt, by continuing to issue ir-
rcdccmablc notes, fills the channels OF
circulation with deprecated paper.
Tie attention OF congress IS earnestly
invited to the necessity of thorough re-
vision of our revenue system, and large
reduction in the number of articles taxed
i urged
The pr2-i dent says peace has been So
cured with he Indians. but that he has
no official details from the commissioners.
Regarding forcign affairs, the president
says Mexico is relieved from foreign in
tcrpo>ition. and that peace rcigns again
in Central and South America.
OF the Alabama claims the president
peaks Is follow>:
NO arrangement has been reached for
the settler uent OF our claims for British
upon the commerce OF the
nited States have felt it my 'lnty
to decline the proposition OF arbitration
made by her maje~ty's government. be-
cause it has hitherto been accompanied
by res .ryations and limitations incom-
pa,ihlc with the rights. honor and inter
e>t> OF our country. Ii j. not 10 he ap-
pretended that Great Britain will persist
III her refusal II satisfy these Just and
reason able claims, which involve the 81
cred principle "t nom-intervehtlon-a
prime iple ienrciorth moi more important
TO IT,, United States than to all other
con- mcrcial nations
y he prc>iden; says that Il treaty has
bct II concluded with the klng Of Den
HI rk for the c"ssion Of TIE islands of 81.
T nomas and st Johns to the mite
) .atc.. and he asks pay for Alaska o.
Z ongresS lie concludes as follows:
The abuse of our laws bv the elan
'iestine prosecution OF the African slave
trade from American ports, or by Amer
lean citizens has altogether ceased. AMI.
under existing circumstances it becomes
4 question whether We shall not propose
TO her maicsty's government a suspcn
sion or di>continuancc OF the s,ipulation'
for maintaining 4 naval force for the
suppression OF that trade