National Republican. (Washington City (D.C.)) 1872-1888, 1874-12-07
PRESIDENTS MESSAGE.
SYNOPSIS OF THE MESSAGE OF THE
EXECUTIVE.

HE URGES A RETURN TO SPECIE PAY
MENTs-THE TINE AND MANNER RE-
FERRED TO COEGRESS-BANKINGsH SHOULD
NOT BE LINuTED-vIEws ON NATIONAL
IMPROVEMENTS, ARKANSAS AND LoUIsI-
ANA, &C.
At noon yesterday the annual message Of the
President was completed with the exception Of
that portion relating TO the District Of Colum-
bia. 1t contains few recommendations, but
those are of an important character, and of
great interest to the whole country. From con-
yersation with intimate friends of the Presi-
dent the writer is enabled to state positively
some of its main features. For instance, in
reference to
THE FINANCES,
the President does not believe that specie pay
mcnts can be reached by January l, 1876. lie
strongly fayors a return TO q gold currency,
but leaves to Congress the duty of fixing the
time and manner Of accomplishing that result.
He suggests, in this connection, the repeal of
the legal tender clause in the currency act, to
take effect, as to contracts, after the day fixed
by law for its repeal; that the Secretary of the
Treasury should be given power to obtain gold
lTOIH anu dllGI lllC ulJC uACN W hAO eASS PAS-
yiding for a return to specie payments. This
may be partially, if not wholly, accomplished
by bonds. The revenues of the country, he
thinks, should be in excess of the expenditures
to keep up this redemption, which should be OBJ
tanned by greater economy in appropriations
or by 4 reorganization of the tax laws. Rela-
tive 10
FREE BANKING,
the President Is of the opinion that whenever
q return to specie payments is accomplished,
banking should not be limited. 1t should not
be made a monopoly 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
in this respect. 1t is not a question properly
to be trusted to the decision of Congress, of
the Secretary of the Treasury, or of the Exec
utive, but one which the different communi-
ties Should be allowed to determine for them
selves. He recommends free banking, when
we are properly on the road to specie pay
snents.
1t is the duty of Congress TO make regula-
tiOns under which banks of issue may be Or
ganized to do business, and the President only
suggests that no change be made in the pres
ent currency law, except to conform to the
new order of things growing out of a return to
specie payments. Relative to
INTERNAL IMPROVEMENTS
the President makes no Recommendations
whatever: but leaves the whole question to
Congress and the Congressional committee
appointed to investigate this entire subject and
report. 1t seems very proper that the Pres-
dent should not make recommendations OH
this subject pending an investigation by Con-
gress and the action Of convention specially
assembled in the interest of cheap transporta-
ton. This question may possibly form the
subject of q special message to Congress ere
the close of the present session.
RELATIVE TO ARKANSAS
the President has very little to say more than
to give his reasons for not interfering in the
affairs of that State, and transmitting for
the information of Congress the full history of
the controversy as furnished by both parties
and otherwise obtained By officers of the Gov
eminent. Contrary to published statements
on this subject he makes no recommendations
whatever, but leaves the whole question to
the decision Of Congress. With regard to
LOUISIANA
the President makessno specific recommends
lions, but hopes that if there is any practical
way Of removing by.legislation the difficulties
which environ that State, it may be done at
once. On Louisiana affairs the President
stands just where he did on the 2jth of Feb
ruary, 1873, when in special message to Con
gress he said:
at seems advisable that I should now
state what course shall feel bound to
pursue in reference to the matter in 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 hereto
fore recognized by me. I am extremely
anxious to avoid any appearance of undue in
reference in State affairs, and if Congress
differs from me as to what ought to be done,
respectfully urge its immediate decision to
that effect, otherwise / shall feel obliged, so
far as 1 can by the exercise of legitimate
authority, to put an end to the unhappy con-
troversy which disturbs the peace and pros
trates the business Of Louisiana, by the re-
cognition and support Of that Government
which is recognized and upheld by the courts
of the State"
8 Whatever in the above extract is applicable
to the present state of affairs in Louisiana will
be applied by the President. In short he will
continue to maintain the Kellogg government
to the end of its term unless Congress shall
deem it proper to take the question out of his
hands.
CIVIL SERVICE.
The President is Of the opinion that the
principle of civil service has been adhered to
as far as possible, In the face of the strenuous
opposition II has met with in various quarters.