The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1869-12-17

= ltenant-Covernor have been installed :
: The Legislature met and did all rcouir
cd by this resolution and by all the re
Il construction acts OF Congress, and ab
K stained from all doubtful authority.
a recommend that her Senators and Rep
a 'rescntatives be promptly admitted I.
! their seats and that the State be full,
I restored 10 its place in the family o
. states. An election was called in Mis-
#, slssippi and Texas, to commence on I'll,
: 18th of November, 1869, and TO last til, es
days in Mississippi, and four days in
+, Texas. The elections have taken place
! but the result is not known.
Il Among the evils growing ont OF the
: rebellion, and no. yet referred to. is thai
oi an ilrcdeenablc currency 1t is an evil
!, which | hope will receive your mos,
: earnest attention. 1t is duty, and ono
OF the highest duties Of the Gove-ninen.
TO secure to the citizens medium OF
exchange of a fixed and an unyarvino
value. This implies a return to specie
basis. and no substitute for il can be de-
Visec. IL should be commenced now and
reached ut the earliest practicable mo-
incnt, consistent with fair regard to the
Interests of the debtor class: immediate
resumption if practicable would not be
desirable. 1t would compel the debtor
class to pay beyond their contracts the
purchase, and would bring bankruptcy
and ruin to thousands. Fluctuations,
however, in the paper value Of the mea-
sure of values gold, is detrimental to the
interests OF trade. earnstly recon-
mead to you, then, such legislation as
Will insure a gradual return to specie
payments and put All immediate stop TO
fluctuations in the value of currency. =
10 secure the latter see but one way.
and that is TO authorize the Treasury 10
redeem its own paper, at "a fixed price.
whenever presented; 10 withhold from
circulation all such currency redeemed, !,
until sold for gold. The vast resources
OF the nation. both developed and
undc:clopcd. ought 10 make our credit
The hes; on the earth With less bur-
den Of taxation than the citizens lave
endured for six years past, the entire
public debt could be paid in ten years.
but il is not desirable that the people
should be taxed 10 pay ii in that time
\ car by year the ability 10 pay increases
in rapid ratio, but the burden of inter-
est ought to be reduced ne nesl;}i- oI ure
contract I'ne public debt is rcprcsen-
ted in a great part by bonds, having from
five To twenty and from ten TO forty
years 10 run. bearing interest at the rate
OF per ccnt..and 8 per cent. respective
ly. Ii is mt the option Of the Govern
mcnt 10 pay these bonds AT any period
after the expiration of the time mention
ed upon their face. The time has already
expired when a great part Of them may
bc taken up. The time is rapidly ap-
proaching when ali may be. 1t is belicv-
ed that al which are now due may be re-
placed BY bonds bearing rate of inter-
est, not exceeding Al per cent. and as
rapidly as the remainder becomes due
that they may be replaced in the same
way. To accomplish this il may be neces-
sary 10 authorize the interest TO be paid
iat. either of three or four of the money
centres Of Europe. or by an assistant
treasurer of the United States at the Op-
Ition OF the holder of the bonds. | sug-
gest this subject for the consideration of
Congress. also, Simultaneously with this
the propriety of redceming our currency.
las before suggested, at its market value
lat the time the law goes into effect. in
icrcasing the rate which currency will be
bought and sold, from day TO day orr
week TO week, at The same rate of inter-
est as the government pays upon its
bonds.
The subjects Of the tariff and internal
taxation will necessarily receive your al
ltention. The revenues of the country
are greater than the requirements, and
may. with safety, be reduced, as the fun
ding of the debt i'm four or a four and
one-ha,f per cent, loan would reduce the
annual current expense largely. Thus.af-
ter funding. justifying greater reduc-
ton Of taxation than would be now ex-
pedient, ! suggest the postponemcnt of
this question until the next meeting of
Congress. II may be advisable 10 mod
ify the TAXATION and tariff in instances
where unjust or burdensome discrimi-
nations are made by the present laws.
but for general revision of the laws
Regulating this subject, / recommend the
lpostponcment for the present. | also
Suggest the renewal OF the tax on in
comes but at a reduced rate, say Of three
iper cent. and this tax to expire in three
wears, with the funding Of the national
debt. as here suggested. feel safe in
saying the taxes and revenue from inn
ports NAV be reduced safely from sixty
TO eighty millions per annum ut oncc,and
further reduced from year TO year as the
resources Of the country arc developed.
The report Of the Secretary Of the Trca-
sury shows the receipts of the Govern
-. A.. H. u