Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-12-05

States registry. has eliminated in an out
burst of Indignation that has seemed ior
| time to threaten war. Pending negotla-
tons between the United States and the
government of Spain on the subject OF this
capture, have authorized tho secretary OF
| the navy to put our navy on war footing
/ to the extent at least of the entire annual
appropriation for that branch OF the ser
vice. trusting to Congress and the pnbllc
| opinion Of the American people to justify
my action
AMENDMENTS 10 THE CONSTITUTION PROPOSED.
Assuming from the action Of the last Con
gress in appointing committee on PRIV
leges and elections to prepare and report to
this Congress a constitutional amendment
to provide better method Of electing the
President and Vice President Of the nited
States, and also from the necessity OF such
an amendment, that there Will be submit
ted to the State legislatures for ratification
such an improvement in our constitution, l
suggest two others for your confederation
| First, to authorize the executive to approve
of so much of any measures passing the TWO
houses of Congress as his Judgment may
dictate without his opposing the whole oil
it, the disapprOyed portion or portions 10
be subjected to the same rules as now, 10
wit To be referred back to the house IN
which the measure or measure originated,
and if passed by two-third5 vote oil the
two houses, then TO become a law without
the approval of the President. would
add TO this a provision that there
should be no legislation by Congress
during the last twenty-toHr hours oil
its session except upon yetoes, Al order 10
| give the executive an opportunity TO eX-
anime and approve or disapproye bills IN
derstandngly Second, to provide BY
amendment that when an extra session OF
Congress is convened by executive procla-
nation, legislation during the continuance
of such extra session shall be confined to
| such subjects as the executive may BRING
before it from time to time in writing. Inc
advantages to be gained BY these two amend
ments are obvious. One session IN each
year is provided for by the constitution, on
which there are no restrictions As to the
subjects of legislation by Congress. more
are required it Is always in the power oil
Congress, during their term OF oihce, to
! provide for sessions at any time. l ne hfst
of these amendment would protect the pub.
| lie against the many abuses and waste oil
| public moneys which creep into appropria-
ton bills and other important measures
passing during the expiring hours OF Com
| gresS, to which otherwise due consideration
/ cannot to given.
fHE TREASURY pgFARragNr.
/ The receipts Of the government from all
sources for the last fiscal year were S333.-
/ 73S, 20i, and the expenditure on all &C
/ counts was $500, 3i5, pa. This showed an
excess of receipts over expenditures Of ! 49,
4 ASP ,959. but it is not probable that this
favorable exhibit will he shown for the
present fiscal year Indeed. il is very
doubtful whether, except with great econ
omy on the part of Congress in making
| appropriations and the same economy in
administering the various departments of
the government. the revenues viii not
fall short of meeting the actual
expenses, including interest on the
public debt. commend % Congress
such economy and point ont two
sources where it seems 10 me. 1t might
commence, u wit. In the appropriations for
pnhlic building in many cite where work
has not commenced in the appropriations
for river and harblr improvements in those
localities where the Improvements are Of hnt
little benefit 10 general commerce, and for
fortihcations. There is a still more fruitful
source of expenditure which will point out
later a this message refer to the easy
method Of manufacturing claims for
losses incurred IN suppre7sing the late
I
here as opposing the erection Of good, sub
staptial and even elegant buildings hy the
government wherever such building are
needed in fact | approve of the govern
ment owning its own buildinrs in all
sections Of the country, and hope the day IS
not far distant when it will not only posses
them hut will erect in the capital suitable
residences for all persons who now receive
communication for quarters or rent at the
governments expense. and for the cabinet,
thus setting an example to the States which
may induce them TO erect building for their
Senators. but | wouli have this work done
at time when the revenue If the country
ahnndanty justified il
IHE RECFNr FINANCIAL CRISIS.
The revenue have materially fallen ut
Tor the first five months Of the pFezent
fiscal year from what they We're expected
to produce, owing to the general panic now
prevailing. which commenced about the
middle of September last The fu!l effect
of this disaster. if j. should not prove
q blessing an disguise. " vet 90
he demonstrated Ia either event It
is your duty 60 heed the lesson and
prov ide by wise and wcii-clnsilrrei
legislation. tar As it lie ia your
power. against it, recurrence AMI 60 take [
advantage of all benefits that may have ac- |
crued. My own Judgment Is. that however
much individuals may have uttered one
long step has been taken toward pecie |
PAYMENT that w can never have uerma-
nent prosperity until q specie basis IS |
reached. and that a specie basis cannot be |
reached and maintained until oar exports. |
exclusive ot gold Dey for oar imports. in /
terest due abroad and other specie oblga /
tionS. 50 nearly a. % leave an appreci- I
able accumulation oi the precious metals /
in this country from the products of /
our mine- The Development Of the mines |
Of precious metals during the past year and /
the prospective development Tor years to /
come are gratifying in their results Could |
but one-half Of the gold extracted from the 1
mines be retained Al home orr advance /
towards specie payments would be rapid. |
To increase our exports sufficient currency Is
required TO keep all the indusirie= Of the
country employed without this national as
well as individual bankruptcy must ensuc
Undue imitation. on the other hand.
while II might give temporary re-
lief, would only lead u the india
ton OF price~, the impossitiliIy of COM
peting IN our own markets for the
products Of home skill and labor. ana re-
peated renewals of the present experience.
An elastic circulating medium, therefore,
and Just enough of it to transact the
Legitimate business of the country and TO
keep all industries employed is what is
most to be desired. The exact medium Is
specie, the recognized medium of exchange
the world over. That obtained we shall
have currency OF an exact degree of
elasticity. IL there be too much Of it for
the legitimate purposes Of trade and COM
merce, it will dow out Of the country if
too little, the reverse will result. To hold
what what We have and 10 apprpciata Our
currency to that standard Is a problem de-
serving OF the most serious consideration Of
Congress The experience Of the present
panic has proved that the currency Of the
country, based a. il is upon the credit Of
the country, is the best that has ever been
devised Usually in times 1T snch trial,
the currency has become worthless or So
much deprecated IN value A. o. indite the
values OF all the npre-s,rir- al life as ,,r,