The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1873-12-09

the RI verse will be the result
To hold what we have and to appfe
ciate the currency to that standard is
the problem deserving the most serious
consideration of Congress, He says
that the panic has proved that the cur
rency of the country, based as 1t is on
the credit of the nation, is the best that
has ever been devised. Elasticity in
our monetary system is the object to be
obtained; aid next to that, as far as
possible, a preventation of the use of
other peoples money in stock and other
species of speculations; to prevent the
national banks from paying interest on
deposits by requiring them to hold their
resources, and by forcing them into re-
sumption, though it would be only in
legal tender notes.
He further suggests the proptiety OF
authorizing national banks to diminish
their outstanding issue at pleasure by
returning for cancellation their own
bills and withdrawing so many United
States bonds as are pledged for the
bills returDsd. It is also a question for
consideration whether banking should
not be made free, retaining all the safe
guards now required to secure bill hCl,
ders. He also directs attention to the
propriety of exacting from banks the
retention, as part of their reventie
either the whole or part of the gold in
terest accruing upon the bonds pledged
as security for their issue. He hopes
for the adoption of the last mentioned
project to secure elasticity of currency
for the country, and at the same time
to keep employed all the industries o
the nation, and to prevent such an in
Aation as will put off indefinitely the
resumption Of specie payment. The
decision of Congress on this subject
will have his hearty support.
Referring to the ruin of ship building
he recommends such legislation as will
secure to US our prospects of the car
rying trade. The subject Of transpor.
tation is next referred to. He invites
attention to a canal connecting Lake
Erie with the tide water of the Hudson
River and a similar work connecting
Lake Michigan with the nayigable wa
ters and asks if it would not be wise
for the government to pledge the States
that if they will open these canals fol
the passage Of large vessels, the gov.
ernment will keep in navigable condi.
ton the great public highways with
which they connect.
Referring to the States south of the
United States as offering q field where
much might be accomplished,h he suggests
small appropriation for South Ameri.
can expedition,
Referring again to the Treasury De
partment he recommends a revision and
certi6ca,ion of the tariff laws and the
opening of more mints for coming mon
ey for such nations as may apply forit.
The War Department is next treated
of. He directs the especial attention Of
Congress to preparing for war in time o
peace, by preparing proper armament
for our seacoast defences, which is vastly
of more importance than Notifications
He also favors the reopening of promo
tion in the staff corps in the army. Par
ticularly is this necessary in the Medica
and Ordnance Department and the Pay
masters Department.
Speaking of the Navy Department h'
says the building of eight new sloops OF
war, as authorized by the last Congress,is
doubly fortunate, as they are about being
completed at a time when they may be
needed. The occurrences in the waters
of the Cuoan seas lately, illustrates for
chilly the necessity of maintaining the
efficiency of the navy. He is assured
that all the available ships and every au
thorize6 man in the American Navy will
be ready for whatever action is required
to maintain our safety and honor.
In referring to the Postoffice Depart
ment he invites the attention of Congress
to the suggestion of the Postmaster Gen
eral for the establishment Of the free de
livery where the population is 10000; al
so the pre- payment of postage on news
papers and other printed matter; and fol
uniform postage and limit of weight OIL
miscellaneous matter. Especially does
he urge favorable action by Congres:
on the establishment of the United States
Postal Saving Bank He also directs spe
cial attention to a consideration of th'
question of postal telegraphs and the ar
guments adduced in support thereof.
He also draws attention to affairs il
Utah. To prevent anarchy it is absolute
ly necessary that Congress provide III
Courts with some mode Of obtaining re
dress, and also that probate courts of thu
territory be denied all jurisdiction no
possessed ordinarily by courts of tina
description.
i He also says. 81 have become impress
ed with the belief that the act approved
March 2, 1867 entitled IAN act to establish
a uniform system of bankruptcy through
out the United States,' is productive o
more evil than good at the present time.
He comments severely on the clause rela
tive to involuntary bankruptcy, and re
commends the repeal Of this specia
clause.
j Referring to the matter of the South
ern war and other claims he presumes th
new schemes proposed for legalizing out
lawed claims, &c, will he received will
but little favor by Congress, and recon
mends that persons having claims agains
the United States, of just nature. be re
quired to present them at an early day
and that legislation be directed as far a
practicable to the defeat Of unfounde'
and unjust claims.
J, The Interior Department and its man
kagement is faverably commented on, ant
: continuation of the peace policy prom
ised. The President favors a territoria
/ form of government for the Indians t
: secure their treaty rights. Next h
} speaks of more room being wanted 70
the Patent Office Department. Speakin
of the Pension Bureau he asks for sti
further legislation to prevent frauds. H
, also comments fayorably on the progres
made by the Bureau of Education, and re
, directs attention TO the project OF ne'
census in 1876, the reports of which coul
} be completed and published before tn
t Centennial, and which would prove walt
e able and interesting as showing the pre-
, gress of the country during the first cer
, tury of its existence. He also favors ia
king census regularly every five years.
4 Speaking of the District Of COlumbi