The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1873-12-06
Tne PRESIDENTS Message.

The following synopsis of the Presi-
dents Message is copied from the New
York Sun of Wednesday:
As might be expected, the subject of
Cuba occupies pretty large space. Not
an important fact relating to the recent
transactions in that island and the con-
sequent negotiations with Spain is set |
forth whose substance had not been an
ticipated by the newspaper press of this
country and England.
The President admits that political
partisanship has ceased to exist in the
agricultural districts He assumes that
a constitutional amendment will be sub
lnitted to the State Legislatures by the
present Congress, providing for better
method of elpcting the President and
Vice President, and in that connection
suggests two other amendments. The
first authorizes the President to veto
part of bill without vetoing the whole of
it, the disapproved portions being sub.
iect to the same rules as other vetoed
measures, and also that during the last
twenty-four hours of its session Con-
gress shall act only upon vetoed mes
sages. The second provides that at ex-
ira sessions only such matters shall be
considered by Congress as are brought
before it by written messages from the
Executive. .-.., .a
The President announces that the re-
ceipts Of the Government in excess Of
its expenditures are, according to the
figuring of the Treasury Department,
s43, ,392, 959 but lie doubts if it can he
so well again. Indeed he thinks 1t will
be hard to keep even, and recommends
economy in appropriations and econo-
my in their expenditure. He especially
suggests retrenchment in regard to pub
lie buildings in cities where the work
has not commenced, and in the improve
ment of rivers and harbors, except for
purposes of defense OF in the interest of
general commerce. He also advises
caution In the payment of losses incur
red in the suppression of the rebellion.
He, however, thinks the Government
should own its own buildings. and sug-
gests the erection of suitable residences
for members of the Cabinet, which lie
hopes will induce the States to build
similar establishments for their Senators.
He thinks the recent panic may have
been blessing in disguise, but consid-
ers that we have had enough of good
thing, If we only take advantage of the
benefits which have already accrued.
His view is that long step has been
taken toward specie payments; that our
permanent prosperity depends upon a
resumption of specie basis, which can
never be reached and maintained until
our exports so nearly pay for our i'm
ports, the interest held upon the debt
held abroad, and our other specie obli-
cations, as TO leave an appreciable ac-
emulation of the precious metals from
the product Of our miues. He says the
increase in our population and the con.
etant development of the country, par
ticularly of railroad and manufacturing
interests, have worked virtual con-
traction of tie curreacy, and while in
flation is not desirable, elasticity is. The
last he thinks might be obtained by al
lowing the national banks 10 increase
their circulation forty per cent. upon
their depOsiting bonds with the depart
ment, the face value of which should bt
equal to the amount of additional clreu
iation, the banks, however TO forfei
four per cent. of the interest upon sucl
bonds while hyl othecated, but to b
permitted to redeem them at any tim
with their own circulating notes. Tn
President thinks there is none too nue.
currency now for the dullest portion 0
the year, without considering the in
creased demand for moving the crops
lie therefore leaves to the conslderatio
of Congress the propriety of a FIRE
banking law. He recommends posta
savings banks, and thinks they woul
lie of great value to the freedmen. ii
favors American shipbullding and tn
enlargement Of the Erie and Illinoi