Wyoming democrat. [volume] (Tunkhannock, Wyoming Co., Pa.) 1867-1940, 1868-12-23

teach those who are to follow us carefully
to avoid the danrers which threaten free
and Independent people.
He then suggests that "Our national
credit should be sacredly observed but in
making provisions for our creditors we
should not forget what is due to the mas
ses of the people. 1t may be assumed that
the holders of our securities have already
received upon their bonds larger amount
than their original investment, measured
by gold standard. Upon this statement
of facts it would seem but just and equita-
bic that the six per cent. interest now paid
by the Government should be applied to
the reduction of the principle in semi-an-
nual instalments, which III sixteen years
and eight months would iquidate the en-
tire national debt"
If the provision be made for the paw
ment of the Indebtedness of the Govern
ment in the manner suggested, our nation
will receive its wonted prosperity. Its in
be taken to release the large amount of
capital invested in the securities of the
Government. 1t is now not merely un-
productive, but in taxation annually con-
sumes one hundred and fifty millions of
dollars, which would otherwise he used by
our enterprising people i'll adding to the
wealth of the nation. Our commerce,
which at one time successfully rivalled that
of the great maritime Powers. has rapidly
diminished, and our industrial interests
are in a depressed and languishing condi-
ton. The developement of our inexhaus
tible resources are checked. and the fertile
fields of the South are becoming waste for
want Of means to till them. With the re-
lease of capital, new life would be infused
into the paralyzed energies of our people,
and activity and vigor impaired in every
branch of industry Our people need en-
couIngement in their efforts to recover
from the effects of the rebellion and of in
judiciaus legislation /; and it should be the
aim of the Government to stimulate them
by the prospect of an early release from the
burdens which impede their prosperity
If we cannot take the burdens from. their
shoulders, we should at least manifest a
willingness to help to bear them.
Upon the subject of the currency he
says:
The anomalous condition Of our currency
is in striking contrast with that which was
originally designed. Our circulation now
embraces, first, notes of the National Banks,
which are made receivable for all dues to
the Government, excluding imposts, and
by all its creditors, excepting in payment
of interest upon the bonds and the secu-
rites themselves second, legal tender
notes. issued by the United States, and
which the law requiresEshall be received as
well in payment of all debts between citi-
zens as of all Government dues, excepting
/ imposts and, third, gold and silver coin.
/ By the operation of our present system of
! finances, however, the metallic currency,
when collected, is only for one class OF
?
bonds, semi-annually receive their interest
from the National Treasury.
There is no reason, which will be accept
ed as satisfactory by the people, why those
who defendus on the land and protect us on
the sea the pensioner upon the gratitude
of the nation, bearing scars and wounds re
ceived while in service ; the public servants
in the various Departments of the Govern
ment the farmer who supplies the soldiers
of the army and the sailors of the navy
the artisan who tolls in the nations work
shops. or the mechanics and laborers who
build its adifces and construct its forts ant
vessels of war-should, in payment of theil
Just and hard-earned dues, receive depreci
ated paper, while another class of theil
countrymen, no more deserving, are paiC
in coin of gold and silver. Equal and ex
act Justice requires that all the creditors o.
the Government should be paid in a cur
rency possessing a uniform value. Thi:
can only be accomplished by the restora
ton of the currency to the standard estab
hshed by the Constitution and by this
means we would remove discrimination
which may, if it has not already done so
create prejudice that may become deel
rooted and widespread, and imperil the
national debt.
He regards a disordered currency as one
of the greatest of political evils 1t under
mines the virtues necessary for the support
OF social system, and encourages propensi
ties destructive of its happiness; it wars
against industry, frugality and economy
and it fosters the evil spirits of extrava-
gance and speculation, 1t has been assert
ed by one of our profound and and most
gifted statesmen, that, that ''of all the con-
trivances for cheating the laboring classes
of mankind, none has been more effectual
than that which deludes them with paper
money.
AMENDMENTS TO THE CONSTITUTION
In concluding his message, the President
recommends the following amendments to
the Constitution of the United States
First. For the election of President and