Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1873-12-06

of September last. The full effect Of
this disaster, II it should not prove
to be a blessing IN disguise, Is yet TO
be demonstrated. In either event II
IS your duty to heed the lesson, and
sprOvide, by wise and well-considered
legislation, as far as it lies In YOUR
power, against its recurrence, and to
take advantage of all the benefits that
may have accrued. Ny own jHdg-
ment is, that however much individ-
uals may have supposed, one long
step has beea taken toward specie
payments.
The experience Of the present panic
has shown that the currency Of the
country, based, as 1t i, upon the
credit OF the country, IS 20 be the best
that has ever been devised Usual
ly, in times Of such trials, the cur
rency has become worthless. or 50
much deprecated in value as to III
fate the value Of all the nccessaries Of
life. As compared with the currency,
every one holding II has been anxious
to dispose Of 1t on any terms. Now,
we witness an increase in holders Of
currency, who hoard ii as they did
their gold III former experiences Of a
like nature.
NATIONAL BANKS AND THE
CurTenCy---recOmHnendaIiOns
It is patent 10 the most casual OBJ
server that much more money is re-
quired to transact the legitimate trade
Of the country during the fall and
winter months, when the vast crops
are being moved, than during the
balance Of the year and without the
present system the amount IN the
country remains the same through
out the entire year. and results in the
accumulation of all the surplus CAPT
tai Of the country IN a few cities
when not employed in the moving of
the crops, and is tempted there by the
offer Of interest Oh call-lOans and
the interest being paid. This sur
plus capital must earn the interest
paid with q profit. Being subject TO
call, II cannot be loaned, in n part at
least, to the merchant or manufactur-
er for a fixed term. Hence, 40 mat
ter how much currency there might
be in the country, it would be absorb
ed, the process keeping pace with the
volume, and panics, stringency and
disasters would ever be recurring
with the autumn. Elasticity in our
money system, therefore, IS the OBJ
iect to be obtained first, and after
that, as far as possible, a prevention
of the use of other peoples money in
stock and other species of specula-
ton. To prevent the latter, il seems
to me that one great step would be
taken by prohibiting the national
banks from paying interests on de-
posts, by requiring them to hold
their reserves in thcir own vaults, and
by forcing them into resumption,
though it would only be i'll legal-tend-
er notes.
BANKRUPTCY.
1 have become. impressed with the
belief that the act approved March p,
1867, entitled an act to establish
| uniform system of baukrup t Y
throughout the United States is pro-
ductive of more evil than good.
BOGUS CLAIMS TO BE De
FEATED.
Your careful attention is invited to
the subject of claims against the GOV
eminent and the facilities afforded by
the existing laws for their prosecu-
ton. Each of the departments of state,
treasury and war, have demands for
many millions of dollars upon their
! files, and they are rapidly accumula-
ting. To these may be added those
now pending before Congress, the
court of claims and the southern
claims commission, making in the ag-
gregate an immense sum. Most of
these grew out of the rebellion, and
are intended to indemnify persons on
both sides for their losses during the
war, and not a few of them are fabri-
Gated and supported by false testimo-
nv. Projects are OH foot it is belieY-
| ed, to induce Congress to provide for
new classes of claims, and revive old
ones, though the repeal or moditica-
| ton of the statute of limitation by
which they are now barred. | pre-
! sumo these schemes, if proposed, viii
| be received with little favor by con-
| gress, and l recommend that per-
| sons having claims against the United
States, cognizable by any tribunal or
department thereof, be required to
present them at an early day, and that
! the legislature be directed, as far as
practicable, to the defeat Of nnfounded
and unjust demands upon the govern
ment, and l would suggest, as 4 means
of preventing fraud, that the witness
es be called on in person to testify be-
fore those tribunals having said
claims before them for adjudicatiOns.
THE NATIONAL UNIVERSITY.
Iwould suggest to congress the pro-
priety of promoting the establish
ment, in this district, of an institution
of learning, by the donations of lands.
There is no place better suited for
such an institution than the national
capital. There is no other place in
which every citizen is so directly in
terested.
Civil service reform is again earn
estly recommended.
THE ADMISSION OF COLORADO.
would recommend for your IA
vorable consideration the passage of
an enabling act for the admission of
Colorado as State in the Union. 1t
possesses all the elements of n pros
porous State-agricultural and min
eral-and believe has position to
Justify such an admission.
COMPLETE AMNESTY.
renew my previous recommends
ton to congress for general amnesty.
The number engagedin the late rebel
lion now laboring under disabilities is
very small, but enough to keep up a
constant irritation. Impossible dam
age can accrue to the government by
restoring them to eligibility to hold
office.
CIVIL RIGHTS.
l suggest for your consideration the
enactment of law to better secure
the civil rights which freedom should
secure but has not effectually secured
to the enfranchised slave.
Z. S. GRANT.
EXECUTIVE MANSION, Dec. l, 1873
GENERAL NEWS.
a recent census of Baltimore,
shows n population 500, 1913.
The Kentucky legislature, met on
Monday last. Hon. McCrcary, was