Martinsburg weekly independent. [volume] (Martinsburg, W. Va.) 1873-1875, 1874-12-12

Syn Opsis of the Message Of
the Executive.

ynOpsis of the Message of
the Executive.
WASHINGTON, Dec. THE following
synopsis OF the Presidents Message.
contain all the main points Of the docu-
ment.
THE FINANCES.
The President does not believe that
specie payments can be reached by jan
nary l, 1876. He strongly favors return
to gold currency, but leaves to the Con-
gress the duty of fixing the time and
manner Of accomplishing the result. lie
suggests, in this connection, the repeal
of the legal tender clause in the currency
act, to take effect, as to contracts, after
the date fixed by law for its repeal that
the Secretary OF the Treasury should be
given power to obtain gold from and af-
ter the date fixed by the act providing
for return to specie payments. This
may be partially, if not wholly accom-
plished by bonds. The revenues Of the
country, he thinks, should be in excess
of the expenditures to keep up this re-
demption, which should be obtained by
greater economy in appropriations or by
a Reorganization of the tax law.
FREE BANKING.
The President is of the opinion that
whenever return to specie payment is
accomplished, banking should not be
limited. 1t should not be made mo-
nopoly by limiting the amount of issue.
Bill holders should be protected, as at
present The people Of the country
should be allowed to be the judge of their
own wants ia this respect 1t is not
question properly to be trusted to the
decision of Cor gress, or the Secretary of
the Treasury, or of the Executor, but one
which the different communities should
be allowed to determine for themselves.
He recommends free banking, when we
are properly on the road to specie pay
ments.
1t is the duty of Congress to make reg
ulations under which the banks of issue
may be organized to do business, and
the President only suggests that no
change be made in the present currency
law, excest to conform to the new order
of things growing out OF return to
specie payments.
INTERNAL IMPROVEMENTS.
! TThe message makes no recommends
tions on the subject Of Internal Improve
/ ments, but merely refers to the fact that
Congress has already appointed COM
mittee on transportation routes to the
seabosrd, which has already made its
report.
RELATIVE TO ARKANSAS
the President has very little to gay
more than to give his reason for
not interfering in the affairs ofthe
State, and transmitting, for the in
formation Of Congress, the full his
tory of the controversy, as funish-
ed by both parties, and otherwise
obtained by officers of the Govern
ment. Contrary to published state
ments on this subject he makes no
recommendation whatever, but
leaves the whole question to the
decision Of Congress. With regard
| to
LOUISIANA.
The President makes no specific
commentators, but hopes that
if there is any practical way of re-
moving by legislation the difficult
ties which environ that State, it
may be done at once. On Louisi-
ana affairs the President stands
just where he did on the 25th Of
February, 1873, when in a special |
message TO Congress he said:
cit seems advisable that / should !
now state what course | shall feel
bound to pursue in reference to the |
matter i'm the event Of no action by
Congress at this time, subject to
any satisfactory arrangement that
may be made by the parties to the
controversy, which of all things is
the most desirable. 1t will be my
duty, so far as it may be necessary
for me to act, to adhere to that |
Government heretofore recognized |
by me. / am extremely anxious
to avoid any appearance of undue
Indifference in State affairs, and If
Congress differs from me as to
what ought to be done, / respect
fully urge its immediate decision
to that effect, otherwise / shall feel
obliged, so far as / can by the ex-
ercise of Legitimate authority to
put an end to the unhappy contro-
versy which disturbs the peace and
prostrates the business of Louisia-
ma, by the recognition and support
of that Government which is rec
ognized and upheld by the cour
Of the State"
Whatever in the above extracts
is applicable to the present state of
affairs in'Lousiana will be supplied
by the President. In short, he