Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1874-12-11
Friehdiy Relations With For.
y ~, BE- e. = I, - 'eign Powers. ..i %
lt bus a. .it e. Ef ,stass4srg ihn
We hrs - .tt .nt fs i.ae acsHtil
Possible Necessity Of Interference
In Cuba.
no TILT 1911
The 1e6dBles ii Louisiana and IN
,,eve Boa Arkansas. ,r
The Indian Peace Policy -Civil-ser
vice Reform, Etc. !o
THE PRESIDENTS MESSAGE.

4 +. To the Senate and House Of Representatives.:
f.stiF TBE BUSINESS PRosTRATIoN. 81.
since the conyening of Congress ono year ago
ness and the industries such as has not been
witnessed with us for many years Speculation
ss TO the causes for this prostraton might be In.
dulged in without profit because as mnny tho
ofles would be advanced As there would be inde.
pendent writers who should express their own
views upon the subject. Without indulging in
hsrefIors' fSss I YIN call your attention only 70
o wbichit would seem there should be no dIea,
Teement During this ,prostration two essential
ssments OF prosperity have been most abundant
e10rsS labor and sSRiial Roth have been largely an;
s a. Seen sts5nSB sas osen Seqy nsSSSsee SSSSsss
rates; Where labor has been wanted It has been
eIi, ionnd IN abundance, at cheap rates compared
Geata be purchased with the wages demanded.
be sdded Our Our h''G soil and climate % are n. an.
eauaed within, TIE limits Of any contigp;
cities of products to feed and cothe people and
In the amount Of surplus TO spare to feed less fa-
view il seems t6s se E.s an
TINS session Of Congress would dictate-ignoring
the past-distrbutng in proper channels these
abroad is the only element that can. with always
sound currency, enter into our affairs 70 cause
PROSPERITY ofou peoples.
K THE CURRENCY.
A great conflict for national existence made
necessary Tor temporary purposes the raising OF
large sums of money from whatever source at
tainable. II was made necessary in the wisdom
q Congress, and do not doubt their wisdom in
the premises, regarding the necessity the times,
TO devise system Of national currency, which 1t
e proved to beimpossibe to keep on a par with
~ This begot spirit of speculation, involving
extravaganza and luxury not required for the
ing both ssIi Directly and re indirectly E foreign foreign
indebtedness. The currency, being Of fiuctu-
ating value and unsafe to hold for legitimate
mOneV, became
OF speculation In itself These two causes,
Indebtedness contracted % in GOOD a faith oy't by tie
borrower and the lender, which should be paid in
Z feln and accordtng to the bond agreed upon when
not Sc viosted toward iis oTeditOr. cat at
should ' BE- sncesiSsed; ssi American @ 0mfife ship
/ building and carrying capacity increasedt FOR
manufactures, to the end that we may be able to
pay these debts. Where market can be created
Se so sfe bs mine our or snsE S
new means is discovered of utilizing
our idle capital and labor to the advantage Of the
step toward accomplishing this object is
u,zI.e 70 secure currency good wherever civ.
superabundaht with one people, will find mar
ket with some other-a currency which has as its
{ will give It value. Gold and silver now the
recognized medium of exchange the civilized
least practicable delay 5fs go
In view of the pledges ofthe American Congress
when our present legal tender system was adopt
ed and the debt contracted there should be
no delay, certainly no unnecessary delay, in ix.
ing by legislation method by which we will re-
end invite your special attention. l believe
inn nrmy that there can be no prosperous and per
til policy Ia adopted, with legislation to carry u
ont looking TO a return to specie basis. 1t is
easy to conceive that the debtor and speculative
classes may think 1t OF value TO make So
called money abundant until they can throw a
portion Of their burdens upon others; but even
result if course should be pursued which will
keen in doubt the value of the legal-tendcr me
dtum of exchange. A revival of the productive
Industries Is needed by all classes, and by none
more than the holders Of property, of whatever
sort with debts to iquidate from the realization
classes of citizens referred to to be benefit
ed BY expansion, would it be honest to give it'
justly such relief Would it not be lust
IS honest and prudent to authorize each
the extent of his liabilities as to do this?
Would 1t not be safer, for fear of over-issues
debts and obligations are obiteraied in the
United states, and now we commence anew, each
e sssssing al he has at the time free from in
2 cumbrIncet These propositions too absurd
10 be entertained for moment by thinking peo-
pie. Every delay in the preparation for final re;
sumption partakes Of Ibis dishonesty, and
rs held out that convenient season viii
s redeeining our pledges to- to conmence. SG vt It will
never come, in nay opinion, except by the posi-.
which will destroy for time at least the credit
- efindividuas and the State at large. believe It
is in the power Of Congress at this session to
- devise such legislation as will renew conf
dence, revive all The industries, start us on a ca
reer 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 the
great requisites to this deyouiy-to- besought-
- end: Ihere are other points may touch upon
hereafter d,
"A nation dealing in a currency below that of
specie In value la6ors under two great disadvsn-
tAges: First, having no use for the worlds ac-
knowledged medium of exchange. gold and ell
yer, these are driven out of the country because
,here ro5,um no aemsne ior their use; second
q "a huctuating value, for, after all, Il is
only worth Just whatit win purchase of gold and
:. silver metals having an intrinsic value lust in
proportion TO the honest labor 1t takes 10 produce
VI them, a large margin must be allowed for profit
ny the manufacturer ana producer 1t is months
from the date of production to the date of reaiiza.
- tom Interest upon capital must be charged and
hpsk OF nuctuaion in the value Of that which Is
. to be Received in payment added; hence high
prices act az a protection TO the foreign pro
oToSpc Tnp s MOI n0ahg IN exchange for the
4 good Ata stable value the world over.
ss II seems TO nae that nothing is clearer than that
, the greater part of the burden of existing pros.
tratfon FOR The want Of "a sound financial system
falls upon the workingman, who must after all
produce the wealth. and the salaried man who
r. fupertn tends and conducts business. The bur
Al den nll uDon them two ways by the deprivation
ol epployment and by the decreased purchasing
gress 10 devise the method OF CORRECTING the eyis
ShGb are acknowledged TO exist, and not mine; I;
Fbqt fsiilFenture TO suggest two three things
q which seem TO me as absolutely necessary
sp Ests5n paymeRisths Grst
sSiiss f1SS sa" Of sP tas earreney ley % Sr
The National Government should be repealed 10
lake ehect as 10 all contracts entered after
SS, dSy aksd t IN the 5Speang 9ct MOTTO apply how
ment or for other gexnensrs now nrovH
. ed by law. 70 be paid inn currency. IN the
~ Interval penll1g between, the repeal ardranal
4 fefuhpnVnA prov sion should he made by which
become necessary nom Zine 70 Tine SS'G rom M
= 40 thismghi nd should be addedh scyenne ar
g. hclently IN eKocss of fexpenses TO insure an aecri
d Rnla92n oi gold IN the Treasury 10 sustain re-
recommend this subeei 10 yonr careful con
sidereti9h' Densklng ihai Norab!S solution is
tlfe present and future generations WIN ever
81 sFstsifn ~ remember q as their delivercr from a
sthralld0m oil evil and disgracg. With rot umptiou
ts free Ankinsmay be authorized with safety. Civ
- ing mlL pyoteetop to hilhholders, which they
haze mn unaer T the existing laws, Indeed
ll,swould,EiVe Gpropcrt isticl 20 the entrency As
more egrrengy shohlt be required for the tiansac
.. lion Of lssliimae 6psiness new banks would
would wdO ap aP" nol n, bdsiSe.. ss1S SSSss %Rsa
- sourency. The expclence and Judgment Of thg
people can pest decide Just how mpch currency
rs Iequlcu lol lhe luhlhitclOn oi the business Of
S ~ l. eSs eSse9s Z Ssy: *. s 81 'St
ISc or Rs aSspeSsSss SsSs 6Eg Gg1gsss should
ieNlst, but should not make banking monopoiy
a % Of gSaes sSSH Ss5e PPPs, cur,
do attach 90 this Subject and so earnestly do
somplsnd 70 Your attention, thai give Il prom.
inenee by introducing 1t at the beginning OF this
gss f'f'f roREIGN RELATIONS.
During the ps past year @ nothing has occurred to
aihtuFDthe genial mendly aud cordial relations
of the United States with ofhor un,,..,s SpLo