The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1870-01-13

and l., to all intents and purposes. covered
by the Monroe doctriue, so that Whalever
recognition the government might extend
to republicans If Guba, it would only
amount to the practical enforcement of what
oar nation has 80 lons advanced in theory.
Cuba is an American island Geographi
cally il belongs to the United States. Its
acquisition has been a leading principle with
many OF our ablest statesmen from an early
period In our history. Jefferson. Madison,
Adams, Clay, Van Buren, Buchanan and
many hers advocated The Incorporation OF
Cuba into the Union Il is hoped the time
will soon come. If il has not already arrived,
when by the eunnsiatlon of prompt and
decided policy brave people may be rec lg-
nized as independent, and the cause Of re
publican principles receive new encourage
ment.
The management OF our national finances
Is one Of The most delicate and important
questions now under consideration by the
american people, and while 1t IS not my in
tentlon to offer any plan TO settle matter
which seems to give 50 much trouble b
many OF our most experienced tnanclaFs,
few suggestions may not BE- out OF place
Ii will be remembered that by the estab
lishment OF our National banks. tha best
and safest paper currency that ever existed
IA this nation has been afforded. Great
caution should therefore be taken not to
mar system that has been 50 generally
beneficial When the government estab
lshed the National banks, our State banks
were taxed out OF existence aud destroyed
as such, tut III many Instances they We're
renewed by the solemn enactment of Con
gress under whose supervision they We're
promised Just, kind aud fostering care. lt
seems unjust, therefore. that the govern
ment should propose 10 withdraw part OF
their circulation from them aad give it to
new ones 20 be organized where none now
exist If new banks should be created
wher2yer they may be required, they should
receive their circulation from an iBcrea e OF
the amount now authorized by law. The
circulation To be the saml as lne banks now
have, and on the same kind OF securities
In my opinion, policy OF expansion of the
currency should be adopted that will give
ease aud comfort 10 the people, aud that
viii cheer mp aud Re assure our business men
aud pat the Wheels OF commerce. manutac
lectures and labor in full operation. II will
prevent decline IN the revenues derived
from the tariff ani internal taxation. aud
vii save thousands Of citizens from the
crushing effects of cuUtraction As a part
Of the same policy, there should be no hesi-
tailon about the abandonment of the idea
of reducing the currency by the adoption Of
any plan to curtail the amount OF legal ten
ders now in circulation.
The constant and natural approach to
specie payments Is the only safe mode, In
my opinion, 10 accomplish that desirable
end. Any compulsory law that may be
enacted viii 10 all probability be a failure
L do not hesitate to say that the contraction
OF the carrency at this time would be pro
ductive OF great iujur, both To individuals
and TO the general interest Of the Nation
Let there be liberal encouragement of rail
roads, manufactures and every project that
will afford employment and compensation to
our toiling millions. Encourage Il vigorous
collection Of the revenues on luxuries. VI tin-
tala strong treasury. with gold sufficient
TO keep check upon those who might be
disposed tn diturb the natural tendency to-
wards specie payments, or for the purposes
of speculation. There should be a steady
but moderate reduction Of the National debt,
funding of the present six per cent i've
twenty bonds IN others. al a lower rate of
interest, not by eompulsIon but by fair deal
ing, and the establishing of sinking fund,
at such rate as will pay of the debt in
about thirty years We shalt then not only
fad the business Of the country reviving,
but our business men ready to expand their
operations with the greatest encouragement.
The foregoing are the only subjects con-
nected with Stare and National affairs that |
nave deemed Of sufficient Importance to
offer for your consideration at the present
time; and | conclude By expressing the
hope that your session will be marked
by harmony among yourselves aud the
members of the several State Departments,
aud your deliberations result 10 lasting
benefit 70 the Commonwealth.
JNO. W. GEARY.
EXECUTIVE CHAMBER.
Harrisburg ,I1auary 5, 1870.