The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1873-12-12

years the currency has been contracted
directly blythe withdrawal Of three per
cent. certificates, compound interest
notes, and7-30 bonds outstanding on the
4th of March,, 1858, all of which took the
place of legal tenders in theobank re-
serves to the extent Of S63,O0O,OOO. Du-r
ring the same period there has neen 9
much larger comparative contraction OF
the currency. s'' f+- '+I1
INCREASE OF THE POPULATION-PRO-
GREss OF RAILROADS AND THE EN-
PLOYMENT OF OPERATIVE LABOR.
The population of the country has
larRelyincreased More than %, 900 miles
of railroad have been built, requiring
the active use of capital to operate them.
Millions Of acres ofland have been open
ed, to cultivation, requiring capital to
move the products. Manufactures have
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 prOba-
bly, the largest of all comparative con-
traction arises from the organizing of
free labor in the South. Now, every
labOrer there receives his wages, and for
want of savings banks the greatest part
of such wages Is carried in, thepOcket or
boarded until required for use. These
suggestions are thrown outfOr your con-
sideration without any recommendation
that they shall be adopted literally.
SPECIE PAYMENT-A GoNsUMMATLONDE De-
yOUTLY TO. BE WISHED, ?
But hoping that the best method may
be arrived at to secure such an elasticity
of the currency as will keep employed
all the industries of the country, and
prevent such an initiation as will put OFT
indefinitely the resumption of specie
wished for by all, and by none more
earnestly than the class of people most
directly interested-those who arm their
bread by the sweat of their brow. The
decisions of Congress Onthis subject will
have the hearty approval OF the Execu-
tive. .---a---~ - -~-. .----,s -
SATISFACTORY PROGRESS OF SHIP I
BUILDING. p IT.
In previous m~essagesI have called at
tention to the decline in American ship
building and recommended such legisla-
ton as would secure tOus our proportion
of the carrying trade. Stimulated by
high rates and abundance of freight, the
progress Of the last year in shipbuilding
asbeen Very satisfactory. There has
been an increase of abOutthree percent.
in the amount transported in American
vessels over the amount of last year.
With the reduced cost of material which
has taken place, it may reasonably be
hoped that this progress will be. main
tanned and even increased. However,
as we pay about $80,O00,00O per annum
to foreign vessels for transportation of
O~urssuEplus products to a market, thus
increasing the balance of trade. against
us to this amount, the subject is one
worthy of your serious consideration.
CHEAP TRANSPORTATION.
Cheap transportation is a subject that
has attracted the attention of both pro-
ducers and consumers for the past few
years, and has contributed to, If it has
not been the direct cause of, the recent
panic and stringency.z As Congress al
its last session appointed a special com
mittee to. investigate this whole subject
during the vacation and report at this
session, / have nothing to recommend
until their report is read, There is one
work, however, of national character
on which the greater portion of the
East and the West the North and the
South, are equally interested, to which
Iwillinvite yeur attentionsa q E&s 1
The State of New York has a cana
connecting Lake Erie with tide water
UH btNBf LHAGUA I61NCIp AhG kJGdDO "
Illinois has a. similar work connecting
Lake Michigan with snavigable waite
ON the Illinois River, thus making Watel
communication inland between TIT
East and the West and the South
These great artificial water courses ar
the property of the States through
which they pass and pay toll to thOsl
States. Would it not be wise states
manshiptO pledge these States that i
they will open these canals for. TIL
passage of large vessels, the GeneFa
Government viii look after and keel
in ~navigable condition the great pablo
highways with which they connect, tt
wit: the overslaugh on the Hudson tn.
Saint Claire fats and the Illinois AMI
Mississippi Rivers This would be
national work-one' of great value t
the producers of the West and South
ia giving them cheap Transportation
for their produce to the seabOard and;
market, and to the consumers in tn,
East, by giving them cheaper food
particularly of those articles of foot
zahiEh d0tnot.find foreign markets, ant
the prices, therefore, are not regulated
by foreign demands. The advantage
of such q work are too Obvious for ar
quInent.s Isnbmit the subject to you
therefore, without further comment.
ANAyAL EXPEDITION 70 BE F1rTTED on,
T0sAsCEEDa THE AMAZON. a
In attempting tb regain, our lost com
meree and carrying trade.I have hereto
fore called attention to the States soutl
of us, offering a, field where mucl
might be accomplished. To furthe
thislobjeet suggest that 9 u appropria
ton be. made accompanied with au
thority for thetSeeretaryaof the Nav,
tolRtOutanavalVe sseft0aseendthe Anna
ION to the mouth ofthe Madeira theme
tQeyDloretha t river and its tnbut8Eie
into Bolivia. and to report to Congress
tatitsney session, or asIsoon as pPae
ticable,lt Hi ,aeeessibility of the c0untr
by water its sources and the populatiO.
SO reached Such n exploration vii
cost butlittle. lit can do nOthafm an
may RESULT IN establishing a trade O
syaIne to both nations. -
RECOMMENDATION Fer THE OPENEN.
GILMORE MINTs FOR THE COMING d
MONEY. w. .5afs sae'
NEUTRALITY-SUSPICIOUS. will tie Treas
ury Department, ] would recommend
revision ana eertifcatiOn of the tart
laws, and the opening of more mint
for coming money, with ahti0fityse
coin for such nations as may apply.
REGARDING THEREPoRT eFFHEsECRl
TARY OF WAR.
s1s The attention of Congress ID directe
TO the Recommendations cOntainedei
t~therepOrbof the Secretary of War. here
with accompanying The apparer
great cost Of supporting the army
fully explained by this report, and
hope will receive your attention