The south-western. [volume] (Shreveport, La.) 1852-1870, 1869-12-08
Presidents Message.


Gentlemen Of the Senate and House Of RepresantDres
In coming before you for the first time as chief mag
srae Of this great naton 1t IS with gratitude to tn
giyer of all good for the many benefits we enjoy. w
blessed with peace at home without entanging al
lance abroad to orbode. trouble With territory un
surpassed in fertility, and of equal for an abundan
every variety of useful Minerals and in quantity su
Gent to supply the world for generations; exuberan
crops variety of climate and adapted to the produc
ton of every specieof the earths riches and suited
the habits, and requirements of every living thing
population of forty millions Of free people, speaking
language with facilities for every mortal to acquire al
nues of fame any blessing or fortune that may b
coveted, and the freedom Of the pulpit the press ant
schools. Revenue is flowing into the national TREASURY
beyond the requirements Of the Government. Hap
PLY, harmony is being rapidly restored within our owl
| borders. Manufactures, hitherto unknown in GU
country, are springing up in all sections, producing
degree Of national independence unequalled By an.
other power. These blessings and countless others
entrusted your and mine for safe keeping TO
the brief period of our tenure of office. In this shor
time must each of return to the ranks of the PEG
pie, who have conded in our hcnors, and account Il
them for our stewardship. | earnestly desire tina
neither you nor may be condemned by the free ant
enlightened constituency, by consciences
Eleven States of the Union WERE four years ago. lief
without legal state governments; national debt hat
been contracted; American commerce almost driver
from the seas the industry of onehalf of the countr,
had been taken from the control ofcaptasts and placed
where all labor rightfuly belongs in the keeping
aborers. The work of restoring state governments
loyal to the union, of protecting and fostering free
labor providing means for paying the interest the
public debt has received ample attention from Congress
Although your efforts have not met with success in al
the that might have been desired yet on the
WHOLE they have been more successful than could have
been reasonably anticipated. Of eleven States which
passed ordinances of secession seven have been fully
restored to their places in the Union The eight Geor
gia, held an election, at which she ratified constu
of Congress, aState Legislature and other officers re-
quIred. The Governor was installed the Legislature
met and passed all the then required of It by the
reeonstruetlon acts Of Congress Subsequently how,
ever, IN violation OF the constitution which they had
Just ratified, as since decided by the Supreme Court
the State they unseated coored members of the egs
ature and admitted to seats some members who dis
qualified by the third clause of the Fourteenth amend
men an article which they themselves had contributed
to ratlfy. Under these circumstances would submit
to you whether it would not be wise without delay to
enact law authorising the Governor of GEORGIA to
convene the members ginay elected to the egisla
ture requiring each to take the oath prescribed by the
reconstruction acts and none be admitted who are dis
qualified under third clause of the Fourteenth amend
ment.
The freedmen under the protection which thew have
received are making rapid progress in learning and
complaints are heard OF the lack of industry on their
part where they receive fair remuneration for their
labor " ~
The means provided for paying the interest on the
pubic DEBT with all other expenses ofthe government
are more than ample The loss of our Commerce ia
the only result of the late rebellion which has not re-
ceved sufficient attention from YOU To this subject
call your earnest attention. will not now suggest
plans by which this object may be effected hnt vi r.
necessary, make it the subject of special MESSAGE
during tie session of Congress. At the March term.
Congress by joint resolution, authorised the Executive
to order elections In the States of Virginia Missssnni
and Texas, to submit to them Constitutions which aach
had prev ousy framed either entire or in senarata
parts to be voted upon at the discretion of the Exec
I'VE onder TINS authority, an election was called in
Virginia and the election took place on the 9Th july
Governor and Lieut. Governor have been electeS "a
installed Legislature met and did all that was required
OF hem oy TINS resolution and by all the reconstruc
ton acts OF Congress, and absained from all doubtful
authority recommend that her Senators and Rem
resentatIVes be promptly admitted to their seats and
that State be fully restored to its place in the family of
to commence on Both of November-two davs in Mis-
sissipp and four days in Texac. The elections bavs
taken place, but the result is not known 1t is hon.d
that the acts of the legislatures of these States when
they meet will be such receive your apDroval and
thus close the work of reconstruction |
Among the evils growing out of the rebellion ard
not yet referred to- that of lrredeemable
1t is evil which 1hope will receive your most earne
attention. 1t is duty and one of the highest dntias
Of the Government, to its citizens medium
Of exchange, of fixed, invariabe value This implies
return 70 specie basis and substitute for it can
oe devised 1t should be commenced now, and reached
1t the earliest PRACTICABLE consistent with fair
egard to the interests of the debtor class Animmed
ne resumption II practicable, would not be desirable
would compel the debtor class pay-beyond their
contracts the premium gold the date Of their pur
hase, and would bring bankruptcy and rum to thous-
nds fluctuations in paper is detrimental to the in-
erests OF trade 1t makes the man of business an nvo
ntary gambler for in all sales where future payment
to De made both parties speculate as to what will be
ne salue OF the currency to be paid and received
arnestiy recommend to you then such legislation as
'lll insure agradual return to specie PAYMENTS and
ut an immediate stop to luctuation in the value of
nrrency The methods to the former of these
esults, are as numerous as spectators on political
economy To secure the latter see but one way and
lats, to authorize the Treasury to redeem its own
aPer at hxed price whenever presented and to with
ola from circulation all currency redeemed until
Did again for gold The resources of the nation
9th developed and undeveloped, ought to make our
'edit the best on earth. With less burdensome
xaton than citizens have endured for six vears
asst the entire public debt could be paid in ten wears
ut it is not desirable that the people should be taxed
pay it in that time Year by year our ability to nav
In rapid ratio, but the burden of the interest
1ght to be reduced rapidly can be without viola
on OF contract The public debt is represented in t
eat part by bonds, having from five to twenty and
ON ten to forty years to rum bearing interest the
neither the Government pay these bonds at any per
mt after the expiration of the least time mentioned
pom their face The time has already expired when
hen all may be- 1t is believed that all which are now
may be replaced by bonds bearing rate of interest
exceeding four and half per cent and as rapidly as
e remainder become due, they may be reduced the Il
me way. To accomplish this it may be necessary to
thorse the interest to be paid at either three a
four of the money centres of Europe, or bv any b
Treasurer of the United States the option
e consideration of Congress- and also smuatsneous
WIN this the proprety of redeeming our currency
before suggested at its market value at the time the
" went into effect, increasing the rate at which cur
ncy will be bought and sold from dav to dav or week
week at same rate of interest the Government tt
VS. upon its bonds. CT
The ubect of tariff and internal tax will necessarily
ceve your attention. The revenues of the country
greater than the requirements and may with safety OF
reduced, but as the funding of the debt in four or
If and half per cent loan would reduce our ANIMAL
trent expenses largely thus after funding instiing 81
reater reduction of taxation than would be now ex m
dent. suggest the postponment of this question lie
til the next meeting of Congress. 1t may be adysa 81
to modify the tax and tariff in instances where nm FRI
and burdensome determinations are made by the m
ssent law, but general revision of the laws reouat u
this subject recommend postponement for the su
,sent by
also suggest the renewal of the tax on incomes m
at reduced rate-say three per cent and this tai
expire in three years. With the funding of the ma
nal debt as here suggested feel in saying that
res and revenue from mposs may be reduced Safely i'm
m sixty to eighty millions per at once and sic
DC sun lurtner reduced from year to year the Tt
ources of the country developed. The reports ca
the Secretary of the Treasury show the receipts of 10,
government for the fiscal year ending June so, ze
49, to be $3.50 74 and the expenditures includ We
the interest bonds, to be $32, l49 5s7 The esti or
tes tor the ensuing year favorable to the se
and will doubt show much larger de- TT
ase of the public debt The receipts of the Treas trj
beyond expenditures have exceeded the amount sb
essary to place to the credit of sinking fund as DR.
vlded by law To lock up the surplus in the treas
and withhold it from circulation would lead to ter
n contraction of currency to cripple trade and de
lousy affect the prosperity of the nation Under no
fha 80 H.. l.