Mower County transcript., 1869-12-16

have conferred upon us our honors, and
account to them for our stewardship. j
earnestly desire that neither you nerI may
be condemned tby;A free and enlightened
constituency, nor bys,ourso own con.
science. Emerging ,aa from g.. re-
bellion Of gigantic - magnitude, aided
as u it was by the sympathy and tias
sistance of nations with which We were'a'
peace, eleven, States Of the Union were
FOUR years ago left without legal state
Governments; 4 debt had been contracted
American commerce was almost driven
srosn the seas;; the industry Of one. hall
the country had been taken from the con;
trol OF: the capitalist ;, and placed where oil
labor rightfuily belongs, in tho keeping ol
tho laborer. The work of restoring the
state governments loyal to the Union.
of protecting and fostering freq labor and
providing means for paying interest on the
public debt has reed 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
they have been more successful than could
have been reasonably. anticipated Seven
states which passed ordinancesof secession
have been fully restored to their places in
the Union. The eighth, Georgia, held an
election, at which she ratified her ioonsti.
tuition, republicans in form, ieleeted . gov.
ernor, members Of Congress, q state legis.
lature and all other officers required. The
governor was duly installed and the legis.
latufe met and performed all the acts
therein required of them !, by the
reconstruction acts Of Congress. Subse-
quently, however, in violation of the cor:
stitution which they had Just ratified. as
since decided by the Supreme Court Of the
okSxS Al 80 ,.~.rSo "a Az nolopo1 hoes
of the legislature. and admitted to seats
some members who are, disqualified by the
third clause Of the fourteenth amendment
to the constitution, an article which they
themselves had contributed to rstify. I'm
der these circumstances j would submit to
you whether it would not be wise without
delay to enact . law authorizing the COVER
ner Of Georgia to convene the members
originally. 4. y elected, : 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. Thefreedmen
under the protection which they have re-
ceived are making rapid progress in. learn
ing. and no complaints are heard for lack
Of industry on their part, when they re-
ceive fair remunerati ion for their labor. ~
The means provided for paying the in
terest on the public debt, with all other
expenses ;, Of the =. Government are
more than ample - The loss Of our com.
merce is the only result Of the late rebel,
lion which has not received rsm@ @cient at
tention from you. To this subject 4 oaa
your earnest attention. II will not nowssug-
gest plans by which this object may be ef-
iected, but will, if necessary, make it, the
subject of . special message during the
session of Congress. .&.!%a ~
1.-THE March term Congress, ~ Joint
resolution, authorized the executive to or
der an election in the states Of Virginia,
Mississippi and Texas, to submit 10 them
the constitutions which each had previous.
lyin convention framed and submitted,
the Constitution, either entire or in separate
of the Executive. Under this authority,
elections were called. In Virginia the cleo,
ton took place on the 9Th Of July, 1865
The Governor and Lieutenant Governor
elected have been installed. ~. The Legisla-
ture met and did all required by this reso.
luton and by all the reconstruction acts of
Congress, and abstained from all doubtful
authority. recommendation her Senators
and Representatives. be recognized, and
that the state be fully restored to it's place
in the family Of states. Elections were called
in Mississippi and Texas, to commencs
on the 30th Of November, 1869, and to hst
two days in Mississippi and four days In
Texas. The elections have taken place, but
the result is not known. Il is to be hoped
that the acts of the Legislatures of these
states, when they meet, will be such as to
receive your approval, and thus close the
work of .econstruction. - &c. t'.a' -, -"....
Among the evils growing out of the re-
bellion, and not yet referred to, ia that of
an .irredeemable currency, tt tis an: evil;
which, I hope, will receive your most
earnest attention, It is duty, and, ono Of:
the highest duties. of the Governme ent to;
secure to- the citizens q medium of
ne. This implies return to q
specie basis, and no substitute for it can
be devised. It should be commenced now
and reached at the earliest practicable mo-.
ment, consistentIWith q fair regard to the
interest of the debtor class Z Immediate re-
sumption. ifpracticable, would not be de- .
sirsble. 1t would compel the debtor class
to pay beyond their contracts the premium
of gold at the date of their purchase, and
would bring bankruptcy and ruin
to thousands. Fluctuations, however,
in the paper value of the : measure
Of all values, gold. is detrimental TO the in
terests Of trade; it makes man Of busi.r
ness an involuntary gambler, for in all
sales when future payment is to be made,
both parties speculate as to what will be,
the value of the currency 70 be paid and
received. I earnestly recommend to you,
then, such legislation as will insure a grad
ual return to specie payments, and put an
Immediate, stop to- fluctuations in the value |
Of currency. The methods to secure these !
results are as numerous a. the speculationsrI
on political economy. To secure the
Latter see but one way, and that is,
to authorize the treasury to redeem its own
paper at affixed price whenever presented;
to withhold from circulation all such cur
rency redeemed until sold again for gold; |
the vast resources of the nation, both de- |
veloped and undeveloped, ought to make
the best on earth, with q less |
burden Of taxation than the citizen has en-
aured for six years past, the ;entire public
lebt could be paid in ten years. But It isnot
desirable that people hould not be taxed to
pay it in that time; year by year, the ability
70 pay increases in a rapid ratio, but the
burden OF interest ought to be reduced as
'apidly as can be done without the viola
ion of contract The public debt is rep
.esented in great part by bonds having from
i've to ten and from ten to forty years to
'un, bearing interest ct the rate Of six per
'ent. and five per cent. respectively. It is
'ptional with the Government to
'ay, their bonds at any period af-
or the expiration of i the least time
mentioned upon their face. The time has
xpired when great part of them may be
AIKEN, and the time is rapidly yapproaching
When oil may be. 1t is believed that all
which are now due may be replaced, ,bv
'onds bearing rate of interest not ex,
eedlng four and half per cent and that
. rapidly as the remainder become due
hey may be replaced in some way.
70 accomplish this it may become neces-
ary tc authorize interest to be paid al !
ither Of the three or four money centers
t Europe, or by the Assistant Treasurer
+ the United States, at the option
f the holder of tho bond. III
uggest this subject for tho consideration
t Congress; also, simultaneously with this. ,
he propriety Of redeeming our currency.
s before suggested, at it's market value. at
lie time law goes. into effect increasing
he rate at which the currency will be
ought and sold, from day to day, or week
D week, ut the same rate of interest as the | [
government pays upon its bends '7.
The subject of tariff and internal taxation &
ill necessarily receive your attention.
he revenues of the country are !
reater than the requirements, and b
lay with safety be reduced, but as the
,nding of the debt in four or q four and q 8
alf per cent. would reduce the annual r
lrrent expense largely; thus after fund {
g and justifying greater reduction of {
k1,ov, Il ko