Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1873-12-05

their reserves in their own vaults, are fur
ther suggested as useful notifications OF
the present national banking Jaw, with a
view to "a prevention of the use of other
peoples money in stock and other species
of speculation.n From all this, however,
it is difficult to deduce any policy, or the
suggestion of policy, which leads up to
resumption, or even looks steadily in that
direction. Imitation is certainly not the
road to specie payments, and the Presi-
dents scheme for imparting elasticity to
the currency is practical and periodical
infation-and nothing less. 1t is idle to
expect that any rotation of the seasons can
bring with it those periods of alternate
contraction and imitation. which are to
cause now bonds, and now currency, to
flow from the treasury, like the ebb and
flow of tide.
Next to thAt portion of the message
which treats If financial matters directly,
perhaps the mot important is that which
relates to the bankrupt law, of which the
President recommends, if not the absolute
repeal, at least the repeal of so much as
provides for Involuntary bankruptcy on
account of the suspension of payment
There can be no doubt that the whole law,
and especially this feature, is susceptible
of very great improvement and needs care
full revision.
OF the topics that formerly occupied the
largest space in General Grants annual
messages we find in the present one no.
table dearth. st. Domingo is only allud-
ed to in single sentence, where we are
told that that republic q has applied for
the exercise ofssan American protectorate
over it. About the Ku Klux, Louisiana,
and southern 1aWIessness generally, there
is not one word: A sentence is devoted
to renewal of former recommendations
in favor of general amnesty. The Nor
mons also escape notice this time, although
additional legislation is asked for to en-
able the United States Courts in Utah to
obtain juries, and restriction of the juris-
diction exercised by the territorial probate
courts is also urged. The recommends
tion in favor of an immense system of civil
improvements, to be undertaken at the eX-
pense of the general government, is not
renewed.
By curious infelicity of expression the
President is made to say that cheap trans
portGtiOn "has contributed to, if it has not
been the direct cause of, the present panic
and stringency." We suppose the Presi-
dent to mean that excessive speculation in
new railroads, promoted by unwise legis-
lation on the part of Congress, has contri-
buted to that disastrous result-but he
does not say it. He recommends Congress
to undertake the care of the Erie Canal
and of the Illinois State Canal, upon the
ed for general traffic, but otherwise defers
any further expression of his views until
the special Senate committee on transport
tation shall havemade its report and re-
concentrations. One other exception the
President makes to his general policy of
opposition to further land grants by the
general government. It is in favor of an
irrigoting canal to be constructed across
the arid plain which stretches from the
eastern slope of the Rocky mountains to
the Missouri rive.
No change in the Indian policy of the
governments is hfnked at. A quinquennial
census is recon- he'd Civil service re-
form. 60 60 "a as soInething to he
uncertain and ssed future, when the
E"rule" shall have been definitely settled,
and for that purpose conference between
a committee of Congress and the civil ser
vice board is deemed advisable. A more
effectual method Of .'queiching" the whole
subject could not be devised. Finally, in
single sentence, and that the last OF the
message, the passage of law to better Sc
cure the civil rights of the "newly entran-
chised" is recommended, which Mr.. Sum-
ner will probably think very insufficient
notice of the subject, but then Gen. Grant,
unlike Mr.. Summer, is not a man of one
idea.