The Conservative. (M'connelsville, Ohio) 1866-1871, 1869-12-17
THE PRESIDENTS MESSAGE.
wAsurNoroN. Dec. G.

with gratitude 20 the Giver OF All Good Tor
the many benefits we enjoy; we are blessed
with peace at home, and are without entang-
ling alliaDces abroad to fOrebode %troublei
with a territory unsurpassed IN lertlityi Oi
an area equal to the abundant support OF i've
hundred millions OF people, and Astounding
In every variety o fusoful minerals, IN quanti-
ty sufficient to supply the world Tor genera
tions; with exubeTant crops, with a variety OF
climate adapted to the production OF every
specie Of earth's riches, and suited TO the
habits, tastes and requirements OF every
living thing; with a population Of forty mill
lions of free people, all speaking one Ian
guage, with facilities Tor every mortal 90 ac-
quire an education; with institutions closing
TO none the avenues Of fame or any blessing
or fortune that may be coveted; with freedom
Of pulpit, the press and the school with 4
revenue flowing into the national treasury
beyond the requirements OF the government
supply, harmony Is being rapidly restored
within ouI own borders, manufactures
hitherto unknown in our country are spriug-
ing up in all directions, producing = degree
OF national independence uncqualed by that
Of any other power. These blessings, and
countless others, are intrusted TO your caro-,
and more, for safe keeping for The brief pc
Rod of your tenure OF Office. In a short
time we must each Of us return 10 the ranks
of the people who have conferred upon us
our honora, and account to them for our
stewardship. I earnestly deare that neither
YOU nor may be condemned by a free and en-
lightened constituency, nor by our own con-
science.
Emerging from a rebellion Of gigantic mag
nitude, aided as IL was by the sympathy and
assistance OF nations with which we were at
peace, eleven states OF me Union were, Iour
ments; a debt had boen contractedi Amcri-
can commerce was almost driven from the
. az; tho industry of one-half OF the country
had been taken from the control Of tho capi-
talist aud placed where all labor r~ighlfully
belongs-in the keeping Of the laborer; the
tTS nS Of TeS ST pqg8t stsaG sT Snd %FostefihS tree &c
labor, and providing means for paying the
interest on the public debt, has received am
pie attention from Congress. Although your
efforts have not met with the success in all
particulars that might have been desired,
yet, on the whole, they have heon more sue
Geesful than could have been reasonably an
Iicipated. Seven states which passed ordi-
nances Of occasion have been fully restored
20 their places IN the Union. The eighth,
Georgia, held an election ct which she ratified
her censtitution, republican IN FORM, elected
Governor, members u Congress,
State Legislature, and all 9TH
er onicers required. Tho Governor
was daily installed, and the Legislature met
and performed all the aots th0n required
OF hom by the reconstruction acts OF Con-
gress. Subsequently, however, in violation
Of the constitution which they had just rati.
fed, as since decided by the Supreme Court
of the state, they unseated the colored men,
bers of the Legislature and admitted to seats
some members who we're disqualified by the
third clause Of the fourteenth amendment to
the Constitution, an article which they thom-
selves had contributed TO ratify. Under
.hese circumstance, ] would submit 10 you
whether II would not be wise. without delay,
10 enact q law authorizing the Governor OF
Georgia to convene the members originally
elected TO tho Legislature, requiring each
member TO take the oath prescribed by the
reconstruction act, and none TO be admitted
who are ineligible under the third clause OF
the fourteenth amendment. The freedmen,
under the protection which they have re-
ceiycd, are making. rapid progress in learn
ing, and no complaints are heard Ter lack OF
industry on their part, when thoy receive
fair remuneration for their labor. The
Means provided for paying the interest on
the public debt, with all other expenses Of
the Government, are more than ample.
The loss Of our commerce 10 tho only result
of the late rebellion which has not received
feet / call your earnest attention. I viii not
now suggest plans by which this object may
Do effected, but will, If necessary, make II the
subjoctof a special message during the sos-
sion Of Congress.
At the March term, Congress, by a Joint
resolution authorized the executive 10 ordor
elections in the states Of Virginia, Mississippi
aud Texas, TO submit to them the c~onstitu-
tions which each had previously in conven-
ton framed and submittet; the constitutions,
either entire or in separate parts, to be voted
upOn, at the discretion Of the executive.
Under this authority elections wero 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 aud did all required by this
resolution and by all the reconstruction acts
OF Congress, aud abstained from all doubtful
authority. l recommend that her Senators
andlliepTssentatiyes be admitted TO Congress,
aud that the state be fully restored TO its
place in the family OF states, Elections were
called in Mississippi and Texas to mmence
on the Both OF November, 1869, and to last
two days in Mississippi and four days IN Texas.
The elections have taken place, but the re-
suit is not known. 1t Is to DO hoped that the
acts OF the Legislatures OF these states, when
they meet, will be such as TO receive your APP
proyal, and thus close the work Of reconstruc-
tiOn. Among the evils growing out OF the
rebellion, and not referred to, Is that Of an
i~rredeemable currency. 1t is an evil which 1
ton. II 10 a duty, and one of the highest du-
ties OF the Government, to secure to tho citi-
Zens a medium Of exchange Of fixed and UNI
varying value. This implies a return to a
specie basis, and no substitute for IL can be
devised. II should be commenced now, and
reached at the earliest practicable moment
consistent with a fair regard to the interest
OF the debtor class. Immediate resumption,
II practicable, would not be desirable. 1t
would compel the debtor class 10 pay beyond
their contracts the premium Of gold at the
date Of their purchase, and would bring
bankruptcy and ruin to thousands. Fluctua-
tons, however, in the paper value OF the
measure OF al values, gold, is detrimental
business an Involuntary gambler, for IN all
sales where future payment is
10 be made both parties speculate as
to what will be the value of the currency 10
be paid and received. / earnestly recommend
to you, then, such legislation as will insure
a gradual return to specie payments, and put
an immediate Atopto fluctuations in the vaiue
OF currency. The method 10 secure these re-
cults are az numerous as the SPECTATORS on
political economy. To secure tho latter 1
see but one way, and that is to authorize TIE
treasury TO redeem its own paper at a fixed
price whenever presented; TO withhold from
circulation all such currency redeemed until
sold again for gold. The vast resources of
tine nation, both developed and undeyeloped,
ought TO make our credit the best on earth. |
With a less burden OF taxation than the cii-
zen has endured for the six years past, the
entire public debt could DO paid in'ten years;
but IL il not desirable that people should
be taxed TO pay II in that time. Year byyear
the ability to pay increases in a rapid ratio.
but the burden Of interest ought to be re-
duced as rapidly as can be done without the
violation OF contract. The public debt Is rep
resented in great part by bonds having from
five TO ten and from ten to forty years To run,
bearing interest at the rate OF six pei cent.
and five per cent. respectively. 1t is optional
with the Government 30 pay these bonds at
any period after the exp ration Of the least
time mentioned upon their face. The time
has expired when a great part OF them may
be taken up, and tho time Is rapidly APP
preaching when all may be. II is believed
that all which are now due may be replaced
by bonds bearing a rate of interest not ex-
ceeding a per cent and, as rapidly as the
remainder become due, that they may be re-
placed m the same way. To accomplish this
II may be necessary TO authorize the in
terest to be paid at either of three or four of
the money centres OF Europe, or BY the As
90 ~ ~ a "a a - /