Wilmington daily gazette., 1873-12-03
DAEX GAZETRE.
The Presidents Messagel

cred in Congress yesterday by 'hs President Of
the United states re
WASHINGTON, Dec. 2, 1878. = =
To Ghs Senate and Houss Of Representatives.: y
Tha wear that has passed since the submission y y
Of my last message to Congress, has especially, e
daring the latter part OF 1t, been an evenuu one
70 the coantry. In the midst OF great national 9,
prosperity, financial crisis has occurred that d
has brought low fortunes Of gigantic proportions I,
Political paEtiEanship has nlmost ceased TO exist
especially ia the agricultural regions, and finally
Shs capture upon the high seas Of vessel, bear
ing our Dag, has for time threatened the most d
serious consequeness, and has agitated the public
mind from QUE end OF the country to the other, 4
but this happily is in the course Of aatsfac-
tory adjustment honorable to both nations con-
Our Our relations, however, with mSh Of the other
powers continue to be friendly and cordml-With
France, Germany, Russia. Italy and the mlnoE
kuropean PoweEs-wlh brazlland most o. otne.
kepHbltcs, and with Japau nothlng has occurred
daTing the year TO demand special WOtlce.' 10 exc
cutting the will Of Congress q number Of "Practi-
cal ArtiEans," Scientific men" and "Hongfary
CommaslOOersr 10 attend the Exposition ct Vi
enaA. 1t Is believed that we have obtained the
object which Congress had IN view. II
TIE E0Peror Of China attaining his msjori-
y received the diplomatic representatives. OF the
Western PoWcIs in Persia. An account OF thess
osSamOniss aRd OF the interesting discussions
which preceded them will be found in the dOcu-
msnts transmitted herewith. The accompanying
HAtlNNn
hAS been made during the pIst year towards the |
Sappraaslon Of the Infamous Chinese Coolle trade.
fDcommend Congres 10 inquire whether addi- |
Tional legislation be not needed on this subject
The money awarded to the United States BY
the tribunal of arbitration at Geneva was paid by
hsr majestys government q few days in advance
In compliance with the provisions OF the Act
OF March "a 1873, it ak once paid into the
treasury, and assd lto EBdssm 90 iAr as IL Night
the Pu6lic asbt OF the United States, and the
amount so redeemed was invoseSd In ave per
ce1t. regsterSd bond Of the United States Tor
&l5,5000O0 which is now held subject to the dis
position Of Congress. renew my recommenda-
lion made at the opening Of the last session OF
Congress that q commission be created for the
purpose Of auditing and determining the amounts
Of the several direct losses growing out OF the de-
Strnction Of vessels and their cAfgoes by the Ala
bama, the Florida, or the Shenandoah, after leav-
ing Melbourne, for which the sufferers have re-
CelVed no equivalent or compensation.
The Northwest Water Boundary OF the Uaitea
States has been determined aud worked 10 accord
anes with the award OF Emperor Of Germany.
The mixed commission organized under the
rJVlsions Of the trsaiy Of Washington for sstilinG
Gnd dslemsning the claim Of citizens OF ethel
POWR against the other, arising out Of acts COM
mltted against tAoiF PeEson or property a9rlns
the period between April 13, 1851, and April Vsh
1855 mada Alafnal nWss3 ON the 25th day 0a haP
tombsr last. Il was aWaFdeh that the 6OveEnmen
OF the United States should pay 10 the Govern
meat OF Her Britannia Majesty, within l9 month
frUm the date ofthe award, the som OF ", w 81
IN gold, the Commission dish0nOFed all OeAe
claims Of British subjects against the Unite
Statss the amount Of the clGims presented oy ID
British Government, but diSallOWed or dismlsss
is undsEslOod to be about e93, 100000. Il ais
disAllOWed all the claims Of citizens Of the Unite'
States against Great Dr.iain which we're Tetsre
to Irecommand the early passage OF an a;
apprOpEiatlng the amCu1t necessary to pay tn
aRard. have communicated 10 the Governmeu
Ofthe King Of Italy the thanks OF this GoVeri
ment for the emlnont services rendered BY CouI
Cortt, aa the third Commissioner on this 20"
mission.
recommend q special court of three judges T.
hsar and delsFmne claims OF aliens on the Unite
States arising out Of acts committed agalast the
persons or property during the lnsuFrection.
In regard TO finance, the President, after Teis
ring to the recent panic and the measures OF .
slstance rendered by the government and u
many plans offered TO prevent recurrence
t1s Same, says; submit for your considerato
whether this difficulty might not be overcome
authOrianR the SecretaEy Of the Treasury to iss'
az aRy time 70 National Banks. any amount
their own notes below fixed percentage OF the
iasus, say forty per cent upon the banks depoa
ing with the treasurer Of the L United States
amount OF government bonds equal TO the aniou
OF note demanded, the banks TO ioriei 70 !
government, say four per cent OF the Interest
cguing on the bonds so pledged during the III
they remain with the Treasurer as security
the Increased circulation. The bonds so pledS
to be rodeemabls by the banks at their pleasa
althsr il whole or in part, by returning their o.
bill for cancelation to an amount equal TO the u
Of the bOOds Withdrawn. would, further sugg
the proprieiy OF authorizing NauoAA oAnAs
diminish their standing issue at pleasure BY
tlrninR for cancellation their own bills, anu vi
DRIVING 90 many United States bond a. are pie
ol for the bills returned. In view OF the gr
actual contraction that has taken place In
cuEreneyl and comparative contraction contl
oualy giving IL due 10 the Increase OF popqlat
tloroase Of manufactures and ell the indust
do not baliega there Ii toe much OF u
tor the dnllesk period OF the year indeed
chatting haussa should be established thus
inRTedemptlou it IL question fof your consid
tloa whether banking should not bs made Tres
tlinIng all the safe guAEds now required 70 sec
bill holdem IN any modification OF the pres
lava regulating National Banks as further
toWaldS RrepaEing for resumption OF specie
neuts invite your attention 70 q eonsideFal
Of the proprlety OF 0xactlng from them the ret
tion as part Of thoirTesefVe.
Either the whole OF part OF the gold interest
Oruing Ip1n the the b9nd1 pledged % security
their issus. During the last four years the
Fsney has been contracted directly BY the
0raIal al three per can't eortihcAtes, compo
intaroat nosaa and aaYsnty-third bonds oufatAn
on he Ath Of March, 1859, all Of WhicA took
place OF Iagsl teadsFS In the bank reserves q
exhoat Of si1iy-thFee millions Of dollaEs.
Dnsing The same period there has been =
larger comparative contynclloB OF ehs enEEs
TaS populstion Il largely increased, more
26,OOO mila1eof railroad require the nee % cal
Mlliona e engqa a land require capital % Z
tlo products, manaiaetOFies have multiplled
yond al praeadant In the same period Of tin
0nirinR eailal weekly foR The raymsns Of u
Sad fSF The parchaao of material. and pgobahl.
lAsReIe q all llcomparaiiVo contraction arises
ChS oTEaRl1ing e fgoo labor 10 TIE y
Nov sVerY kborsE thoro receives hia wages
tpR want e sssingS Bann the gelleF paEt q