The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-12-12
OTTAWA FREE IRA DERE SATURDAY, DECEMBER II, 1874.

is clearer than tlat tHc Srca'ci paw Va Va
burden of the existing prostration, Tor Tn
want of a sound financial system,
r FALLS UPON TIE WORKING MAN,
n who must, after all, produce the wealth, am
II the salaried man, VINO SuperIntendS ana con
= ducts business. The burden falls upon then
n in two ways by the deprivation OF employ
C ment, and by the decreased purchasing powe
{ of their salaries.
o It is the duty of Congress to devise the me
: thod or correcting the evils which are &C
3 kpowledged to exist, and not mine; but
y will venture to suggest two or three thing
. which seem to me as absolutely necessary Il
I a return to specie-payments The first grea
requisite in return to prosperity is, that the
5 legal. tender clause to the law authorizing the
issue of currency by the National Govern
Iment
SHOULD BE REPEALED,
10 take effect as to all contracts entered lhto
after day fixed IN the repeating act not u
apply, however, to payments OF salaries ~
the Government or for other expenses no"
provided by law to be paid in currency ~
the interval pending between the repeal any ,I
final repeal and resumption provision snoulu
= be made bv which the Secretary OF Inc treas
ury can obtain gold as it becomes necessary
from time to time till the date when specie
resumption commences. To TINS mlgnt anu
should be added revenue sulclehtly IN eA
cess OF expenses 10 Insure an accunluiation o'
gold in the Treasury to sustain redemption.
commend this subject to your careiul
consideration, believing that favorable So
Union is attainable; and that, if reached by
his CONGRESS. the present and future genera
lions will ever gratefully remember il as their
dclivercr from Il thraldom Of evil and dis
grace.
i With resumption,
FREE BANKING
may he authorized with safety,-giylng the
fnlI protection to bill-holders which thcy
have under existing laws. Indeed, ! wouid
regard free banking as essential. III "oulu
give proper elasticity to the currency As
more currency should be required Tor 'he
transaction of legitimate business, new banks
would be started, and, in turn, banks would
wind up their business when il was found
there was supcrabundance of currency
The experience and judgment of the people
can best decide just how much currency Is
REQUIRED for the transaction of the business
of the country. 1t is unsafe TO leave The set
Element of this question to Congress, the Sec
retary of the Treasurer, or the Executive.
Congress should make the regulations under
which banks may exist, but
SHOULD NOT MAKE BANKING A MONOPOLY
by limiting the amount of redeemabc paper
currency that shall be authorized. Such i'm
porance do attach to this subject and so
earnestly do commend ii TO your attention,
that give it prominence by introducing il at
the beginning OF this message.
FOREIGN RELATIONS.
During the past year nothing has occurred
a, 4 I ,,l; Il
lations of the United States with other Pow.
ers The correspondence submitted herewith
between this Government and It's diplomatic
representatives IN other countries shows a.
satisfactory condition of all the questions be
tween the United States and the most OF those
countries, and with few exceptions, to which
reference is hereafter made, the absence Of,
any points of difference to be adjusted.
BELGIUM.
The notice directed by the resolution Of
Congress of June H. 1874, TO be given to ter
inmate the convention of July II, 1853, be-
tween the United States and Belgium, has
been given, and the treaty will accordingly
terminate on the LIST day of July, 1875. This
convention secured to certain Belgian vessels
entering the ports of the United States eX.-
cep,ional privileges which are not accorded
to our OWE vessels. Other features OF the con-
vcntion have proved satisfactory and have
tended TO the cultivation of mutually benef-
cIal commercial intercourse and friendly re-
lations between the two countries | hope,
that negotiations which have been initiated
will result in the conclusion of another treaty,
which may tend to the interests of both coun-
tries.
CHINA.
Our relations with China continue to be
friendly During the past year the fear OF
hostilties between China ana Japan, growing
out of the landing of IN armed force upon
the Island of Formesa by the latter, has Oc-
casioned uneasiness. 1t is earnestly hoped,
however, that the difficulties arising from this
cause will be adjusted, and that the advance
OF civilization in these Empires may not be
retarded by state Of war. In consequence
of the part taken by certain citizens of the
United States in this expedition, our repre-
sentatives in those contrieS have been in
structeJ TO impress upon the Governments Of
China and Japan the firm intention of this
country To maintain strict neutrality in the
event OF hosulities, and carefully to prevent
any iniraction Of law on the part of our
citizens.
CHINESE IMMIGRATION.
In connection with this subject | call the
attention of Congress to Il generally conceded
fact, that the great proportion of Chinese i'm
migrants who come to our shores do not come
voluntarily 10 make their homes with us, and
their labor productive Of the general pros
perity, but come under contract with head.
men, who own them almost absolutely In
worse form does this apply 10 Chinese We
men. Hardly IA pcrceptiblc percentage OF.
them perform any honorable labor. They arel
brought for shameful purposes, to The dis
grace OF the communities where settled, and
To the great Generalization of the youth
where located If This evil practice can be
legisated against, it will be my pleasure, rs
well rs duty, 10 enforce any regulation 10 Sc
cure so desirable an end.
JAPAN.
/ 1t is hoped that negotiations between the
Government OF Japan and The Treaty Powers,
/ looking to The further opening of the En-
pre-, and to the removal OF various rcStric
tions upon trade and travel, may soon produce
the result desired which cannot fail "a inure
TO the bcncht OF all the parties.
Having on previous occasions submitted