Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1868-12-17
APPROPRIATION ACT,

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with the Presidents constitutional
functions as Commander.in- ChieI
of the Army, and deny to States Of
the Union the right to protect them
selves by means of their own mill
tia. These provisions should at
once be annulIed, for, while the first
might, in times Of great emergency,
seriously embarass the Executive in
his efforts to employ and direct the
common strength Of the nation for
its protection and preservation, the
other is contrary to the express de-
cIaration Of the Constitution, that a
well regulated militia being neces
sary to the security Of a free State,
the right of the people to keep and
bear arms shall not be infringcd -
1t is believed that the repeal Of all
such laws would be accepted by the
American people as at least a par
tial return to the fundamental prin-
ciples Of the Government, and an
indication that hereafter the Con
stitution is to he made the nations
safeguard and unerring guide. They
can be productive Of no permanent
benefit to the country, and should
not be permitted to stand as so ma
ny monuments of the deficient wis
dom which has characterized our re-
cent legislation.
Here the President branches off
upon the financial condition of the
country, and in an effort to create
unnecessary alarm, compares the
present expenditures OF the govern
ment with other years since its or
ganization, and in a most unwar.
r1ntcd manner ovodes giving the
extreme circumstance and necessi-
ty for the expenditure within the
past few years, and tries to make
The people believe a falsehood in
order to sustain his antagonistic
position to the acts Of Congress.
Il
In the following manner the
President proposes to preserve the
'redt of the government-that is
BY paying the interest on the bonds
and ropudiating the principal. He
says:
Our national credit should be sa,
'redly observed, but in making pro
Vision for cur creditors we shohld
lot forget what is due to the mass
IS Of the people. II may be assum-
ID that the holders Of our securities
ave already received upon their
'onds a larger amount than their
'riginal Investment, measured by a
.old standard.
Upon this statement of facts it
would seem just and equitable that
he six per cent, interest now paid
" the Government should be ap-
lied to the reduction of the princi.
val in semi-annual installments,
which in sixteen years and eight
months would liquidate the entire
ational debt Six per cent. in gold
vould, at present rates he equal to
line per cent in currency, and
quivalent to the payment of the
lebt one anda half times in frac-
ion less than seventeen years. -
This, in connection with all the 9th
If advantages derived from this in
-estment, would afford to the pub.
ic creditors q fair and liberal com. I
ensatioh for the use of their capi. !
Al, and with this they should bo G
atisfled. The lessons Of the past
dmOnish the lender that it is not t
Tcll to be oyOr-anxious in exacting
rom the borrower rigid compliance
nth the letter Of the bond, If pro |
ision be made for the payment of h
le Indebtedness of the government n
the manner suggested, our nation |
i'll rapidly recover its national
rosperity It's interests require v
lat some measures should be ia. y
m to release the large amount of !
Ipitol invested in the securities of " y
e Government 1t is not now T,
crely unproductiye, but In taxa i
IN annually consumes $l50,000,- :
70, which would otherwise be used
our enterprisins people in add.
6 to the wealth Of the nation,
We wonder whether Andrew John
n would be willing to give up q /
note, given in bis favor
a wealthy neighbor perfectly re-
onsible to pay all bis debts, ifthat
ighbor were to pay tho interest
ly on that note for nearly II
nrs? We expect Andy does not =,
Id any OF the interest bearing -
omises ofthO government to pay.
Y y
Here VIC have the Presidents .
'ws of a paper currency. He o.
rs: An
Tho time has come, however,
EN- the Government and National 81
nks should be required to take
, most efficient steps, and make
necessary arrangements for the T.
sumption Of specie payments u
I specie payments once be earn.
.iy inauguratcd by the Govern ]
mt aud Banks, and the value of sry
paper circulation would directly
a specie standard. -
Ania fNatp,a..N. l...l..