St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1874-06-19
The Presidents Views on Finance.

UNITED STATES SENATE CHAMBER.
WASHINGTON, June 4, 1874.
To THE PRESIDENT: | was so deeply
impressed by the clearness and wisdom
of the financial views-sOme of which
YOU have. fortunately. reduced to writ
ing recently expressed by YOU i'm a
conversation in which | had the honor.
with few others, to he a participant.
that | cannot dismiss them from NV
mind. The great diversity of ideas
throughout the country upon this sub
ject, and the fact that public opinion
concerning the same is still in process
of Formations, lead me to believe that
the publication of these views would
he productive of great good. | venture.
therefore. to request of You that | may
have copy of the written memo
randum to which | have alluded. with
your permission that it may be made
public.
have the honor to he, very respect
fully. your obedient servant.
JOHN =. JONES.
The Presidents reply is as follows:
EXECUTIVE MANSION, WAsHING-)
TON, ID. C., June 4. 1871.
DEAR SIR: Your note of this date.
rcuucStiup 4 conv of , momnr.nI,,n,
which tbnve nren,r,L cxnrns;ra ~ ''','
views imam tho tn,,,.i.l nu..ti,,,
which van Will ntbo,.s I.,,i, ,,a.,,.I . '''''
i r,cni,cJ Int ,t tn, I,+o ,,, I,'','
,.omuI, tn-niyIt Iw.Il -, ..t'o
great pleasure i'll finnishing yQu a. COPY
i'll the morning is soQRi ~ n, have it
r"rfd. 1t Is proper, HAT bsbapkt state
inc hr,ausr had No. 49, csns,,sfaa IN
this u,.,tin, rnt liz so,s.-' D. :
h.rs IF tho Cnutarencso n, H., !
hv many other m.mI.,. ~ r,','r,.',.,-.
10 ,,,iI amy. and al r,,..,;I,;I;t,
u,derstoudinw In.,n.J tIi. ,,',,.,,,.
h,tI ;ust;t;.,lI,, .,,,,I ,,.,,',. W-;,I ~:
.xuI,n.,t;n,, ;u,lns. ,.,,,, h,,,',i,i, H.,
tL.. m,.,nn,.,,,,I,,,,, ,,,f,,,,.,,J -, wv
Very r.,nrrtfmlI,
T. . ,
~
/" 'he non. q. L. JONES. hltcd
1''''N SENATE
MtN"KANpl' "f views entertained ON
me subject OF desirable legislation on
III" IliiahccN.
believe. il = hirh and uluin duty to
return to Il suncir basis 1t the earliest
practicable day. not only in compliance
with legislative and PARTY ple,I~,>. hut
~ Il step Indispensable to LASTING ma
tional prosperity. | believe further.
that the time has come when this can
he dore. OF at least begun. with less
embarrassment tn every branch of in
du>tiN than II ANY future time. after
resort has been had to unstable and
Temporal, cNpctlientS to Stimulnt, nm
real pru,urritN and Slrcul,tion an h,.is
other than coin of in, ,crn,cni,.d nm
dunn of exchange thlou"lont the ,nu-
m,rciaI world. Tn. narti,.uI,r unJ,
selected to hriu" ahnut :, restoration Of
the specie standard is not of 81 much
consequence IL that some adruu,tr ,I,n
hc devised. the time iixed when rur-
rcncy shall hc cxrhan~ahlr for coi,, at
par. ami the plan adopted rightly adj
hcIcd to. 1t i not probable that ANY
legislation suggested hv me would prove
acceptable to both branches of tom
grc>>. and indeed a full discussinu
might shake my own firth in tL, de-
tails of any plan mirht prono,.
will. however. venture 10 STATE th, nm
cIal features of the action which >r,.n,,
to me advisable tL,. financial ul,tt,,,,
ON which would stand. and any do
unr,m, from Which ,yn,,iI H., ,'''H ~"
of ,n,r,ssin,, and L,,n,,,,, IN u,r.,i' i'n
,n ,nmtIi,ir,, ,,,,,,; 49,, III '''''''''''
Fu..r. ,,nl,IL Ill. :, .Io i.,..,
,,.r.i,, ,.I.,n., I,,I,.,il,,, ,,'',..i In IN
rcrr,l tn take effect IT =, f,,tmr. ,i,,'
say .IuI- Isl lS15 iii. ,,,,Ij ,.,,,,.
oli contracts made .,fte,, tI,.,t Jn,a e.,
v,nrS sales .t,. tn Il. ,..,i,,,.,t,.,, j.,
,,:,. I, ,,,nII ,.,,,.r.,,., ,,,,, ,',;''.'
values. The s,c,.ir d,II,r wnrIJ I,,.
thr nuI, ,I,II.r known ,h,. m,''','. NV.