The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1873-12-20


the public opinion of the American people
to justify my action.
RECOMMENDATIONS TO CONGRESS.
Assuming from the action of the last
Congress, appointing a Committee on
Privileges and Elections, to prepare and
report to this Congress a constitutional
amendment to provide better method of
electing the President and Viee-President
of the United States, and also from the
necessity OF such an amendment, that there
win be submitted to the State Legislatures
for ratification such an improyementin our
constitution. [ suggest two others 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, the
disapproved portion or portions to be sub
iected to the same rules as now, to-wit
be referred back to the House in which
the measure or measures originated and
be passed by a two-thirds vote of the two
houses to become a law without the ap-
proyal of the President. / would add to
this provision that there should be no
legislation by Congress during the last
twenty-four hours of its sitting, except
upon the vetoes, and in order to give the
Executive an opportunity to examine and
approve or disapprove Understandings.
Second. to provide by amendment, that
when an extra session of Congress is con-
vened by Executive proclamation, legisla-
ton during the continuance of such an eX-
ira session shall be confined to such sub
jects as the Executive may bring it from
time to time in writing. The advantages
to be gained by these two amendments are
obvious. One session in each year is pro-
vided for by the Constitution in which
there are no restrictions as to the subjects
of legislation by Congress if more are re-
: quired it is always in the power of Con-
gress, during their term of office to pro-
vide for sessions at any time. The first OF
these amendments would protect the pub
: lie against the many abuses, and waste of
: public moneys which creep into the APP
preparation bills, and other important
measures passing during the expiring
hours of Congress, to which reasonable
consideration cannot be given.
STATE OF THE FINANCES.
In the Treasury Department the receipts
of the Government from all sources for
the last fiscal year were 1888, ,73S, ,204 and
expenditures on all accounts $3.50, ,340, ,245,
thus showing an excess of receipts over
expenditures of S43. .392, ,959. But it is not
probable that this favorable exhibit will
be shown for the present fiscal ysar. In
, deed it is very doubtful whether, except
with greet economy on the part of Con-
gress, in making appropriations, and the
! / same economy in the Administration in adj
> ministering the various debts of the Gov
) ernment, the revenues will not fall short
of meeting the annual expenses including
, the interest on public debt. 1 commend
to Congress such economy, and point out
: two sources where it seems to me it might
: e3Inmenes, t0-ssit.: In the appfopria9iOn
1 for buildings in many cities where work
i has not been commenced. In the appro-
! priation for river and harbor improve
ments in those localities where the i'm
provements are of but little benefit to gen
eral commerce, and in fortifications. There
is a still more fruitful source of expenditure
y which | will point out later in this mes
a sage. refer to the easy method of manu-
: featuring claims for losses incurred in the
: war of the late rebellion. ] would not be
e understood as opposing the erection of
i good, substantial, and even ornamental
Z buildings by the Government wherever
u such buildings are needed; in fact | APP
eIprove of the Government owning its own
!; buildings in all sections of the country,
y and hope the day is not far distant when
, it will not only possess them, but erect in
!, the Capital suitable residences for all per-
sons who now receive commutation for
; quarters or rent at Government expense,
G and tor the Cabinet, thus setting an exam
{, pie to the States which may induce them
L to erect buildings. for their Senators: but
n [ would have this work conducted
:, at times when the revenues of the
T country would abundantly justify it
= EFFECTS OF THE PANIC.
s The revenues have materially fallen of
% for the last five months of the present fis-
+ cal year from what they were expected tC
). produce, owing to the general panic now
n prevailing, which commenced about the
n middle of September last The full effect
n of this disaster, if it should notprove to be
n blessing in disguise, is yet. to be demon
a strated. In either event it is your duty tC
r heed the lesson and provide by wise anC
n well-considered legislation as far as it lies
: in your power against its re-oecurrence
a and to take advantage of all benefits thai
70 may have occurred. Ny own judgment j:
% that, however much individuals may have
d suffered, one long step has been taken to
j ward specie payments: that we can never
If have permanent prosperity until an entire
fe ly new basis is reached, and a specie basi
n cannot be reached and maintained unit
70 our exports, exclusive of gold, pay for oul
Is imports, interest dues abroad, and othel
d speculations, so nearly as to leave an ap
10 preciable accumulation of those metals IL
i. the country from the product of oul
r mines.
II AN ELASTIC CURRENCY NEEDED.
IS The developments of mines of precious
Il metals during the past year, and the pros
T. peetive development of them for the yea
a. to come are gratifying in the extreme. /
al but one-half of the gold extracted from tn
ID mines can be retained at home our ad
le vance towards specie payments would b.
ce rapid. To increase our exports, sufficlen
" currency is required to keep all the indus
1e tries of the country employed. Withou
this, national as well as individual bank
le ruptcy must ensue. Undue imitation, OF
of the one hand, while it might give tempo
i rary relief, would only lead to imitation 9
of prices. The imposibility of competing il
I our own markets for the products of hom
Lh skill and labor and the repeated renewal
to of experience shows the need of elasticit
ty to our spe, ulating medium therefor, an
. = ;IIct oIlc11cci, IL q transact th