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

five contraction continuously going on,
dne 10 the increase of population.
increase of manufactures and all the
industries. | do not believe that there
is too much of it now for the dullest period
of the year. Indeed, if clearing houses
should be established, thus forcing redemp-
ton, it is a question for your consideration
whether banking should not be made Tree,
retaining all the safeguards now required
TO secure bill-holders In any modification
of the present laws regulating national
banks, as further step towards preparing
for the resumption of specie payments,
invite YOUR attention to n consideration oil
the propriety of exacting from them the re-
tention as a part Of their reserve either the
whole or part of the gold int,
rest accruing upOn the bonds pledged
as security for their issue. | have not re-
fleeted enough on the bearing this might
have in producing a scarcity OF com with
which to pay duties on imports 10 give II
my positive recommendation, but your at
tention is invited to the subject.
During the last four years the currency
has been contracted directly by the with
irawal of three per cent certificates, COM
pound interest notes and seyen-thirty bonds
outstanding on the fourth of March, ls69,
all of which took the place OF legal tenders
in the bank reserves to the extent OF St3,-
900, 900. Daring the same period there
has been a much larger comparative con-
traction of the currency. The population
of the country has largely increased. More
than %, 900 miles of railroad have been
built. requiring the active use of capital to
operate them. Millions of acres OF land
have been opened to cultivation, requiring
capital to move the products. Manutac-
lures have multiplied beyond all precedent
in the same period of time, requiring
capital weekly for the payment of wages
and for the purpose of material, and prob
ably the largest of all the 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 greater part of such wages is car
red in the pocket or hOarSed until required
for use. These suggestions are thrown out
for your consideration without any recon-
mendation that they shall be adopted liter
ally, but hoping that the best method may
be arrived at to secure such an elias ITCHY of
the currency as will keep employed all the
industries Of the country, and prevent such
an imitation as will put off indefinitely
the resumption of specie payments an object
50 deyoutly to be wished for By all and By
none more earnestly than By the class OF
| people most directly interested, who earn
their bread by the sweat Of their brow. The
decisions of Congress on this subject will
have the hearty support Of the executive.
THE snrmLDINc INDUSTRY.
la previous messages have called atten-
ton to the decline in American shipbuild-
ing, and recommended such legislation as
| would secure to Us our proportion OF the
carving trade. Stimulated BY high rates and
abundance of freight the progress for the
last year IN shipbuiding has been very
satisfactory. There has been an increase
| of about one per cent IN the amount trans
ported in American vessels over the amount
| of last year. With the reduced cost Of ma
terial which has taken place, it may reason
| ably be hoped thar this progress will be
maintained and even increased. However,
| as we pay about $50 900, 200 per annum 10
| foreign vessels for the transportation Of our
surplus products TO q market, thus increas-
| ing the balance of trade against Us to this
amount, the subject IS one worthy Of your
| confederation.
tina TRANSFORMATIONS QUESTION.
Cheap transportation i 4 subject that
| has attracted the attention Of both prOdu-
| Gers and consumers for the past few years,
| aul has contributed TO If it has not been the
| direct cause Of the recent panic and strin-
/ gency. A. Congress at its last session APP
/ pointed a special committee 20 investigate
/ this whole subject during the vacation and
! report at this session. | have nothing ID
| recommend until their report Is read
| There is one work, however, of q national
| character in which the greater portion Of
| the East and the West, the North and the
| south. arr equally interested, to which
| viii invite yIur attention. The state
/ OF New York has a canal connecting Lake
| Erie with tiiewater on the Hudson River.
| The State of Illinois has o similar work
| connecting Lake Michigan with naylgable
water ON the lllin6i, river, thus making
water communication inland between the
| tn I and the West ami South. These great
artificial water-courseS are the property of
| the State, through which they pass. and
pas toll to those States. Would it not be
/ wise craftsmanship to pledge these
/ State that il they open these canals for
/ ihe passage Of large vessels the general
government viii look after and keep in a
| nayigaDle condition the great public high
ways with which they connect. to wit
/ The "Oyer>laugh' On the Hudson. the St.
Claire hats, and the Illinois and Mississippi
river This w0a.I be a national work,
one Of great value u the producers Of the
/ Mr-t and South. in giving them cheap
/ transportation for sheir produce u the
scaboard and market, and 10 the consumers
in the East in giving them cheaper food,
do not find foreign marketanl the prices
OF which, therefore, are not regulated by the
io-eign demand. The advantages Of such a
work are Too obvious for argument. |
submit the subject 70 you, therefore,
without further comment.
EXPLORING EXPEDITION PROPOSED.
la attempting to regain our lost com
me,cc and carrying trade. ! have hereto
fore called attention 10 the states south Of
lis l- offering g field where much might be
accomplished. To further this object |
suggest that small appropriation might
he made accompanied with authority for the |
secretary Of the navy 10 fix out naval |
vessel 10 ascend the Amazon river to the I
mouth Of the Madeira, thence 10 explore |
that river and its tributaries into Bolivia, |
and report 30 Congress AZ lis next session OF /
As soon As practicable the accessibility of I
The country BY water, its resources, and the |
region explored. Slch an expedition will |
cost bur little it can DO no harm and may |
result in establishing q ira lie Of value u I
both nations.
EuE TARIFF LAWS--NEW MINIS.
Ia further connection with the treasury /
department, would recommend a revision .
AMI codihcati3n Of the tariff laws and the /
opening OF more mintS for coming money,
with authority (, coin for such nations As
may apply.
THE WAR DEPARTMENT.
The attention of Congress Is invited to
the recommendations contained in the re-
port Of the secretary Of war, herewith ac-
compInying. The apparent great cost Of
supporting the army IS fully explained bv
this report and hope will receive your at
tention. While inviting your general at
tenti1n % al recommendations made by the
secretary ui war there are two which |
would especially invite You TO consider
First, the Importance of preparing for war
IN time of peace by providing proper ar
mament for our sea-cOast detenceS. \ proper
armament Is OF vastly more Importance than
Qualifications; the latter can be supplied very
speedily Tor temporary purposes when need
ed. while the former cannot. The second is
the necessity of reopening prlmution in
tie stan corps Of the army particularly is
thi- necessity ielt 10 the medical. pay and
ordnance departments. At this time it Is
necs airy 10 employ contract surgeons to
supply The necessary medical attendance
received by the army. W nth the present
force OF the pay department. it is now
difficult 10 make the payments 20 troops
provided ia- hy las. Long delays in
payment are productive of deaertiGnS and
other Decentralization, aud the law prohibits
the payment OF troops BY other than the
regular army paymasters There are now
sixteen vacancies in the ordnance depart
ment. thus leay % thai branch Of the service
without sufficient oifcers t. conduct the
bushes o! the different ar<euai- On a
large Gale, 81 ever required
THE NAVY.
Duung the past year our navy has been
depleted By the sale Of some vessels no longer
ht for naval service ani by the eondemna-
ton Of others not yet disposed Of This how
ever, has been more than compensated for
hy the repair of six OF the old wooden Ships
and by the building of eight new Sloops of
war authorized by the last Congress.
The building OF these latter has occurred
at dOuby fortunate time. They