Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1873-12-11
Presidents M-essage-Extracts
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the international exhibition at Wien
ma; the Geneva award, and its use to
redeem a portion of the public debt,
the amount so redeemed being in
vested in a five per cent. registra-
ton bond of S15,500,0 900, and the
establishment of our northern bonn
dry, he makes certain recommends
tons to Congress:
ALABAMA CLAIMS.
| recommend that a commission be
created for the purpose of auditing
and determining the amounts OF the
several direct LOSSES growing out of
the destruction of vessels and their
cargoes by the Alabama and Shenan-
doah after leaving Melbourne, for
which the sufferers have received no
equivalent or compensation. and of
ascertainlng the ame of persons
entitled to receive compensation for
the same-making the computations
on the baeis indicated by the Tribu-
nal of Arbitration of Geneva.
CITIZENSHIP.
/ invite Congress to mark out and
define when and how expatriation
can be accomplished; to regulate by
law the condition of American wo-
men marrying foreigners; to fix the
status of children born in a foreign
country of American parents, resid
ing more or less permanently abroad;
and to fix rules for determining such
other kindred points as may seem
best to Congress.
ELECTION OF PREsIDKET AND VICE
PREs,DLET.
For a constitutional amendment
providing for the election of Presi
dent and Vice President ] make two
suggestions for your consideration:
First, To authorize the Executive to
approve of so much of any measure
passing the two Houses of Congress,
as his Judgment may dictate. with
out approving the whole, the disap-
proved portion or portions to be
subjected to the same rules as now,
to wit: To be referred back to the
HOUSE, 10 which the measure or
measures originated, and if passed
by a two-thirds vote Of the two
Houses, then to become u law with
out the approval of the President.
I would add to this a provision that
there should be no Legislation by Con-
gress during the last twenty four
hours of its sitting, except upon
vetoes, in order to give the Execu-
tive an opportunity to examine and
approve or disapprove understand
ingly.
Second, to provide by amendment
that when an extra session of Con-
gress is ordered by Executive pro-
clamatlon, legislation during the
continuance of such extra session,
shall he confined to such subjects as
the Executive may bring before it
from time to time, in writing.
THE PANIC.
MY own Judgment is that however
much individuals may have suffered,
one long step has been taken toward
specie payments; that we a never
Nave permanent pgofpfFFiiahEg and
that a specie basis can not be reached
and maintained until our exports
exclusive of gold to pay our imports,
interest due abroad. and other specie
obligations, are so heavy as to leave
an %appreciable accumulatiO OF the
precious metals in the country from
the products of our mines.
THE CURRENCY.
During the last four years the cur
rency has been contracted directly
by the withdrawal of three per cent.
certificates, compound interest notes,
and seven-thirty bonds outstanding
on the 18th Of March, 1869, all of
which took the place of legal tenders
in the bank reserves, to the extent of
$63. DOC, 900. During the same Pc
Rod there has been a much larger
comparative contraction Of the cur
rency; the population of the country
has largely increased; more than
twenty-five thousand miles of rail
roads have been built, requiring the
active use of capital to operate them;
millions of acres of land have been
opened to cultivation. requiring
capital to move the products; manu-
factories have been multiplied
beyond all precedent in the same
period of time, requiring capital
weekly for the payment of wages
and for the purchase of material;
and probably the largest of all COM
parative contraction arises from the
organizing of free labor in the South.
Now every laborer there receives his
wages, and for want of saving banks,
the greater part Of such wages is
carried in the pocket, or boarded till
required for use. These suggestions
are thrown out for your considera
ton, without any recomm endation
that they shall be adopted literally,
but hoping that the best method may
be arrived at to secure such an elias
ITCHY of the currency as will keep
employed all the industries of the
country, and prevent such an inha
ton as will put off indefinitely the
resumpii m of specie payments, an
to be devoutly wished for by
all, and by none more earnestly than
class of people most directly In
terested-those who cara their bread
by the sweat of their brow. The
decision of Congress On this subject
will have the hearty support of the
EXPLORING EXPEDITION.
suggest a small appropriation be
made, accompanied with authority
the Secretary of the Navy to fit