The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1873-12-09
synopsis Of the Presidents Mes.
sage 10 the EOrlyafhird CODHresS,

sHSc ~ tuc OhsJ esuAA CODSa csSs
WASHINGTON, Dec. 2-The Presi.
dents message opens with reference. to
the events of the past year, as period
Of great prosperity, marked by the
financial crisis and the cessation Of par
tizan strife; the seizure Of the virginihs
producing for time universal excite
ment. The Virginius case is happily in
the co,irse of honorable adjustments ,and
other Foreign relations are friendly -
The Vienna Exposition is referred to
as gratifying to American inventors
who received medals and diplomas. In
regard to finance the President submits
whether the treas,iry might not issue at
any time, to national banks Of issue,
any amount of their own notes below a
fixed per centage of their own issue,
say forty per cent, upon the banks de-
posting with the United States treasury
an amount Of government bonds equal
to the amount of notes demanded, the
hanks to forfeit to the said treasury
four per cent of the bonds so pledged,
during the time they remain with the
treasurer as security for the increased
circulation. The bonds so pledged to
he redeemable by the banks at pleasure
by returning their own bills in circnla-
ton, to an amount equal to the bonds
with the Treasurer. The President
further recounts that the banks be au-
l'thorizcd to diminish their outstanding
issue at pleasure, by returning bills for
cancellation and Withdrawing the bonds
pledged for the bills returned. j.
The President refers to the continued
coutractions of the currency during the
past four wears as being due to ithe
/ growth of population and the building
of many miles Of rail reads. Atten.
tior is invited to the postal telegraph
project, but without distinct recommen
dation. He also urges general amnesty
to rebels as being now perfectly safe
and productive of more rights for the
freedmen. An enabling act is needed
to admit Colorado as State. Some
progress has been made in suppressing
the Chinese coolie trade. The Geneva
awards have been paid by Great Britain
a few days before they were due. The
recommendation is renewed for Com
| mission to audit the losses inflicted by
the Alabama, Florida and Shenandoah.
The settlement of the Northwestern
Water Boundary question is referred to
the action of mixed commission, ap-
pointed for settling and determining
the claims of citizens of either power
against the other arising from acts CON-
mitted during the period from April
1861 to April 1865. He further recon-
mends legislation to create a special
court, to consist Of three judges, to
hear and determine all claims upon the
United States arising out of acts CON-
mitted during the rebellion. Reference
lis made to the Dutch Achinese war and
the neutral position assumed by the
United States.
Referring to the establishment of the
Spanish Republic, the President says
its existence was inaugurated by strik-
ing the fetters from slavery in Porto
Rico and the raising of ten thousand
persons held as slaves, when the Cap
tain General was deprived of the power
to execute his orders. Havana has
thus far succeeded in defeating the
efforts of liberal men in Spain. Under
the professions Of loyalty to the mother
country. this element is exhausting the
resources of Cuba and doing acts at
variance with those principles of justice
and liberality which give nobility of
character to republic.
The case of the Virginius is then sta.
ted and the Senate resolution of 1858,
"That American vessels on the high
seas in time of peace, and under the
American flag are under the jurisdiction
Of the country to which they belong,
and therefore any molestation of such
vessels is in. derrogation of the sov.
reignty of the United States" In &C
cordance with this principle the restora-
ton of the Virginius; the surrender OF
the survivors; due reparation to the
flag and the punishment of the guilty
authorities were demanded. Spain has
recognized the justice of the demand
and has arranged for its immediate sat.
isfaction.
In taking leave of the subject, I wish
to renew the expression Of my convic.
ton that the existence of African sla-
very in Cuba is the principal cause ol
the lamentable condition of the Island
l hope it may soon be made to disap.
pear aud that peace and prosperity may
follow its abolition. =
The President recommends an amend
ment of the method of electing the
President and Vice President of the
United States. Also an amendment au
!horizing the executive to approve ol
so much of any measure passed in Con
gress as his judgment dictates without
approving the whole. Also an amend
ment that in case of extra sessions only
such business shall be brought up as
the executive brings before Congress.
Discussing the report of the Secreta
ry of the Treasury, the President re
commends to Congress economy. HI
points out two sources to commence
with; first, the withdrawal of appropri
ations for public buildings in many
cities where work has not yet been com
menced, and in appropriations for river
and harbor improvements, for such al
are of little benefit to general commerce
and for Notifications. A still more
fruitful source of expenditure / viii
point out later in the message. I refel
to the easy manner of manufacturing
claims incurred in suppressing the lat'
rebellion. He approves Of the govern
ment owning its own buildings, ant
hopes the day is not far distant when i
will not only possess them, but will
erect in the Capital suitable residence
for all persons who receive eommuta
ton for quarters or rent at great ex
pense, and for the Cabinet, thus set
ting an example to the States, whicl
may induce them to erect buildings 70
the Senators, but he would have ,thi
work conducted when the revenues o
the country would abundantlv justify il
+ The revenues have materially fallel
off from the first five months ofsth
present fiscal year, owing to the genera
panic. 1t'is the duty of Congress t.
heed the lesson and provide wise ant
well condensed legislation against it