The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-12-07
by Telegraph
PRESIDENTS MESSAGE,
INTROnTCTInN

Chief Magistrate of this great nation, it is
with gratitude to the Giver of all good for the
many dement's we enjoy. We are blessed WIN
peace at home and are without entanglIng al
liaHces abroad to forebode trouble. With
territory unsurpassed in fertility, Oh an area
equal to the abundant support OF I've nunuleu
millions of people, and aoounuins III sulcient
minerals to SUPPLY prSps with variety Of Climate
adanted TO the production of every species of
aortbISriches and suited to the habits tastes and
reourements of every living thing, with pop
njation of 100000 of free people, all speak
ING one language, with facilities for every
mortal to acquire an education, with ipstitu-
tons closing to none the avenues to fame or
any blessing or fortune that may be conceived,
with freedom OF the pulpit, the press and
tional treasury beyond the requirements of the
government, happily harmony is being rap
idly restored within our own borders, manu-
features hitherto unknown in our country are
sprlnging up in all directions here, producing
degree of national independence unequalled
by that of any other power. These blessings
and countless others are entrusted to your
care and mine for safe keeping for the brief
period of our tenure of Office. In short we
must each of us return to the ranks OF the
people, who have conferred upon US our hon
Ors, and account to them for our stewardship.
l earnestly desire that neither you nor NAV
be condemned by free and enlightened con-
stituency nor by our own consciences.
RECONSTRUCTION
Emerging from rebellion of gigantic mag
nitude, aided as it was by the sympathy and
assistance of nations with which we were at
peace, eleven States of the Union were four
years ago left without legal State governments.
national debt had been contracted, and Amer
lean commerce was almost driven from the
seas. the interest of one half of the country
had been taken from the control of capitalists
and placed where all labor rightfuly belongs,
knpnlpD labor Tho Of
ing State governments loyal to the Union, of
protecting and fostering free labor and provid-
ing means for paying the interest on the pub
lie debt has received ample attention from
Congress although your efforts have not met
with the success in all particulars that might
have been desired. Yet, on the whole thew
have been more successful than could have
been reasonably anticipated. Seven States
have been fully restored to their place in the
Union.
THE CASE OF GEORGIA.
The eighth, Georgia had an election at which
she ratified her constitution republican in
form, elected Governor, members of Con.
gress, State Legislature and all other officers
required. The Governor was duly installed
and the Legislature met and performed all the
acts then required of them by the reconstruc-
ton acts Of Congress- Subsequently, however
in violation of the Constitution, which they had
Just ratified, as since decided by the Supreme
Court OF the State, they unseated the col
ored members OF the Legislature and admit
ted to seats some members who are disqualified
by the second clause of the 14th amendment to
the Constitution. an article which they them
selves had contributed to ratify.
Under these circumstances would submit
to you whether it would not be wise witbo ut
delay to enact law authorizing the Governor
of Georgia to convene the members originally
elected to the Legislature, requiring these
members to take the oath prescribed by the re-
construction act, and none to be admitted who
are ineligible under the Sd clause of the 14th
mendment
CONDITION OF THE FREEDMEN
The freedmen under the protection which
they have received are making rapid progress
IN learning, and no complaints are made of
lack of industry on their part when thew re-
ceived due remuneration for their labor
DECLINE OF AMERICAN COMMERCE.
The means provided for paying the interest
OF the public debt with all other expenses of
the government are more than ample. The
loss lof your commerce is the only result of
the late rebellion which has not received suf-
fcient attention from you. To this subject l
call your earnest attention. l will not now
suggest plans by which the object May be eff |
fected, but will, it necessary make it the SUBJ
Iect OF special message during the session of |
Congress. |
THE SOUTHERN ELECTIONS
At the March term Congress, by Joint reso-
luton, authorized the Executive to order cleo. |
tons in the States of Virginia. Mississippi, |
and Texas, to submit to them the constitutions |
which each had previously in convention tram- |
ed, and submit the constitution, either entire |
or IN separate parts, to be voted upon at the |
discretion of the Executive.
Under this authority elections were called.
In Virginia the election took place on the 9th |
Of July, 1869. The Governor and Lieutenant
Governor elected have been installed. The
Legislature met and did all required by the
resolution, and by all the reconstruction acts
OF Congress and abstained from all doubtful
authority. 1 recommend that her Senators
and Representatives be admitted, and that the |
lily of States.
., Elections were called in Mississippi and
Iexas to commence on the 30th of November.
1869, and to last two days in Mississippi, and |
four days in Texas. The elections have taken /
place, but the results are not known. It ia to
be hoped that the acts of the Legislatures of
these States, when they meet, will be such as |
TO secure your approval and thus complete the
work OF reconstruction.
RESUMPTION OF SPECIE PAYMENTS.
Among the evils growing out of the rebellion
and not yet referred to is that of an irredeem-
able currency. 1t is an evil which hope will
receive your most earnest attention. 1t is
duty and one of the highest duties of govern
ment 10 secure to the citizens a medium of ex-
change OF fixed, unvarying values. This i'm
plies return to specie basis and no substi-
tute for it can be devised. 1t should be COM
/
ticeable moment consistent with fair regard |
to the interests of the debtor class Immedi-
ate resumption, ii practicable, would not be |
desirable. Itwould compel the debtor class
70 pay beyond their contracts, the premium
Of gold at the date of their purchase and |
would bring bankruptcy and ruin to thou
sands.
Fluctuations, however, in the paper value of
The measure OF all values, gold, is detrimental
% tne interests OF trade. 1t makes the man of
Involuntary orobI Co |
sales when future payment is to be made both
parties speculate as to what will be the value
Of the currency to be paid and received.
earnestly recommend to you, then, such
as will insure a gradual return to |
specie payment and put an immediate stop to |
fluctuations IN the value Of CURRENCY. The |
methods to secure the former of these results
are as numerous as are the spectators on po-
one way, and that is to authorize the treasury
20 redeem Its own paper at fixed price when
aver it is presented, and to withhold from cir
,ulatlon all currency so redeemed until it is |
sold again for gold.
THE NATIONAL DEBT.
The vast resources of the nation, both deyel-
oped ana undeyeloped, ought to make our
d. taxation than our citizens had endured for
Tx years past the entire public debt and could
DC paid in ten years, but it is not desirable that
me people should be taxed to pay it in that
|
increases in rapid ratio but the burden of
interest ought to be reduced as rap
dly as can be done without the
violation of contract. The public debt
IS represented in a great part by bonds
having from five to twenty and from ten to
forty years to run, bearing interest at the rate
Of six per cent. and five per cent respectively.
Il is optional with the governments to pay
these bonds at any period after the expiration |
81 the first time mentioned upon their face. |
The time has already arrived when a great
part OF them may be taken up, and is rapidly
that those which are now due may be replaced
Dy ponds bearing rate of interest not ex-
ceedlng IL per cent, and rapidly as the re-
malnder become due that they may be re. |
placed in the same way. To accomplish this
it may be necessary to authorize the interest |
to be paid at either of the three or four money
centres of Europe, or by any assistant treas
nrer of the United States at the option of the |
holder of the bond. suggest this subject for
he consideration of Congress, and also stimuli
aneousy with this the propriety of redeemipg ..
ur currency, as before suggested, at its mar !
Increasing the rate at which currency will he |
ought and sold from day to day or week to , ,
Veek at the same rate of interest as govern =
nent pays upon its bonds. :
THE REVENUE.
The subject of tariff and internal taxation
nil necessarily receive your attention. The t
evenues of the country are greater than its | l
equirements and may with safety be reduced
Tut as the funding of the debt in q four or | s
four and half per cent. loan would reduce | [
nnual current expenses largely, by thus, az Y
II 1undlDg, Justlfying greater reduction of 4
'xatlon than would be now expedent, sug-
est postponement of this question until NEXT | C
'eeting of Congress. 1t may be advisable to v
'odfy the taxation and tariff in instances | a
here unjust or hurdensO observation-disclosures | y