The Bloomfield times. [volume] (New Bloomfield, Pa.) 1867-187?, 1874-12-15
The Presidents Message,


The Message of the President is the
longest document he has ever sent to Con-
gress 1t is too lengthy for our columns,
but we give our readers an abstract of its
contents.
Considerable space is occupied in referring
to the general prostration of business and
its causes, in which his ideas are evidently
at variance with many of the best financiers
in the country. After referring to these
matters and to the fact that we have great
resources in capital and labor not employed,
he winds up this portion Of his message
with the following not very clear sugges-
tion.
Therefore, with these facts in view, it
seems that wise statemanshp at this ses-
sion of Congress would dictate legislation
ignoring the past directing in proper
channels these great clements of prosperity
to any people,"
The President believes it best to return
as soon as possible to specie currency and
says: "To the accomplishment of this,
Invite your special attention. believe
firmly there can be no prosperous and per-
manent revival of business and industries
until a policy is adopted with legislation to
basis. 1t is easy to conceive that the debtor
and speculative classes may think it of
value to them to make the so called money
abundant until they can throw portion
of their burdens on each other. But even
these believe would be disappointed in
the result if course should be pursued
which will keep in doubt the value of the
legal tender medium Of exchange"
He still further urges immediate action
'on this question, by saying EVERY delay
in preparation for final resumption partakes
.ofdishonesty, and is only less in degree as the
jhope is held out that convenient time will
at last arrive for the good work of redeem
ing our pledges to commence. 1t will
never come, in my opinion, except by
positive action by Congress or by national
disasters, which will destroy, for time at
least, the credit of the individual and State
at large. A sound currency might be
reached by total bankruptcy and discredit
of the integrityof the nation and individ-
.uals. p
believe it is the duty of Congress, at
this session, to devise such legislation as
will renew confidence, revive industries,
start us on a career of prosperity to last for
many years, and to save the credit Of the
nation and of the people. Steps toward
the return to specie basis are great
requisites, to be devoutly sought for, and
there are others which may touch upor
hereafter"
Upon one point the President will fine
nearly every one will agree with him, anC
that is where he says the burden of thi
present prostration fall the most heavil.
upon the working men.
The manner in which General Grant pro
poses to get back to specie currency
set forth in the following clause "But
will venture to suggest two or three thing
which seem to me as absolutely necessar
to return to specie payments, the frt
great requisite in o return to prosperity
The legal tender clause TO the law authol
izing the issue of currency by the nations
Government should be repealed, to tah
effect as to all contracts entered into aft'
day fixed in the repeating act, not
apply, however, to the payment Of salari'