The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1868-12-11

cause it is the last one he will have
the satisfaction of laying before the
Senate and House of Representatives
and the people of the United Sta fes.
Thepeopl0 have become so dissafls-.
: fed with Observation-Disclosures they.
would have little disposition to r ead
ehis annual speechsto Congress. wei re it
Z not his last. "A curiosityGto know
what the President has to say for
himself, view Of the recent e lee
tons anftke certainty of his retir
ing from public, tosan unrecogniEed
private life, will induce many to n cad
what they would otherwise throw
aside With contempt. But this feel
ing Of contempt entertained for the
President By the great mass of the
people Of both.political parties will 4 lso
prevent them from reading the nd es-
sage with that fairness and freedom
from prejudice to which all public
documents of It's impeptance are en-
titled.
President JoHNsdx IS Still of the
opfni9h that the reconsFaetion me las
0res6f Congress aee beth inlauitpus
and oppressive. He eonhdeAt, d OF
xFithsta nsipg the feeeat eections, N
whist ehs people dxpsessea khgir APP
pfova 81 those haeasaFes fhat the
Snly way 70 gain the res psct 81 an in
tallIseh and patriots people is for
Congress to retrace is STEPS md take
up ID COTS ruction where I'D been
Splaced - him, when Cor assem-
bfea In 1865. He siues lie sarne m el :.
-aRcholg song to whieh@hia harp has
been afkuned for thelast, three years..
relative to the exclusion of Missis-
sippi, Texas and Virginia from Con,
gress in violation of the Constitution.
He says the attempt to place the
whole population of the South under
the dominion of persons of color has
: destroyed The kindly relations. that
had previously existed, and s1bsti-
tuted instead a feeling of animosity
which has resulted IN bioodshed By
this, the President indirectly charges
upon Cengresssthe murderous acts of
the Ku Klux and other bands OF
assassins in the South, who have
committed so many atrocities during
the past year. Congress destroy ed.
the kindly relations which existed.
between the whites and blacks, and
therefore Congress is responsible for
the bloodshed which followed. Such
is Mr. JoHNs6N'si syllogism. Its ab
surdity is apparent even to the un-
thinEhsa 2TAa assumptinnGtbat Con-
gress attempted to place the W bite
people OF the South auadeF the do
minion of the negroes is without
foundation. No attempt of the Kind
has been made. The enfranchise-
'ment of the blacks did not secure any
such result
That portion of the message refer
ring to the condition of our finances
is worthy the thoughtful attention of
every American citizen The detail
ed statements made BY Mr.. JOHNSON
have in them much cause for uuea ash
NESS ifanet serious apprehension.
These statements show that fuan-
eial.reform, is-an absolute necessity.
Money cannot be squandered in the
future ras in the past without endan-
gering the solveney of the Govern
y ment. The people will endure the
heaviest burdens so long as they re-
gard those burdens as a necessity.
They suffered all the horrors and
sacrifices occasioned by the rebellion
without complaining, because they
realized that these sacrifices were
necessary in 6raGfstb save the Gov
eminent, imperiled by madmen. But
new that peace has returned, they
." demand d prompt add large dfninu-.
ton of the public expenses and an
va economical and prudent management
of the national funds Fl .'>a7s
Mr.. JoHNsoN's, exposition of the
question Of interest is brief and yet
very suggestive. He says it cannot
be. denied that we are paying an ex.
travagant per centage for the use of
money! aDdsmakes out the4ea as
iollq"sIi.F ass 81 Q f,s
L. s. 1t Gannet be denied that we are
= paying an -extravagant per centage for
the. use. Of. the mQneY borrowed, which
-, was paper currency, greatly deprecia
4 ted beiew.lthe value of coin. This
!, fact is made apparent when we con
90 slider that. .bondholders. receive from
u. the Treasury, upon each dollar they
..s.4 owns IRa Government securities. six
i. per cent. in gold, which is nearly or
quite equal to nine per cent. In cur
rency; that the bonds are then con-
verified into capital for the National
Banks upon whieh those institutions
issue their circulation, bearing six
per cent. interest, and that they
are exempt from taxation by the Gov
eminent and the States, and thereby
enhanced two per cent. in the hands
of the holders. We thus have an
: - saggFegatesef IL. per cent which may
be received upon each dollar by the
owners OF Government securities. A
(. system that produces such results is
=. justly. regarded as, faYoring a few at
the expenseasef the many. and has
led to the further inquiry whether the
bondholders, IN view of the large per
centage which, they = have endowed.
: would, themselves be, agerse e, 4 Set
Element of our Indebtedness unon a
T. plan which would allow them 4 fair
T. remuneration and at the same time