Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-12-16

experience and Judgment of the people can
best decide Just how much currency is re-
quired for the transaction Of the business
Of the country II Is unsafe 10 leave the
settlement Of this question to Congress, the
Secretary of the Treasury, or to the ENeCu-
tive. Congress should make the regulation
under which banks may exist, but should
not make banking monopoly by limiting
the amount of redcemablo paper currency
that shall be authorized. Such importance
do attach to this subject, and so earnestly
do ! commend it to your attention, that
give it prominence by introducing il at the
beginning Of this message.
The Treasurer's Report
The report Of the Secretary OF the Treas
ury, which by kw is made directly to Con-
gress, and form no part of this m 'Ssage,
will show receipts and expenditures of the
Government for the fiscal year the amount
received from each source Of revenue and
and the amount paid out for each of the
departments of the government 1t will be
observed from this report, that the amount
Of receipts over expenditures, has been but
S2,3i4,S $50 80 for the fiscal year ending
June Is, 1874, and that for the current fiscal
gear, the estimate receipts over cNpend-
lures will not much exceed S9ONOOO. In
view of the large national debt existing
and the obligations to add one per cent per
annum to the sinking fund. sum amount
ing now 10 over S3I. 900 coo per annum. |
submit whether revenue should not be in
creased or expenditure diminished to reach
this amount OF surplus. Not To provide for
the sinking fund is "A partial failure to com
ply with the contracts and obligations of
the COVE nmcnt At the last session OF
Congress very considerable reduction
was made in rates of taxation, and in the
number of articles submitted TO taxation,
the question may be well asked whether or
not ia some instances, unwisely? In con-
nection with this subject, too, tho opinion
that the means Of collecting the revenue,
especially from the imports, have been so
embarrassed by legislation as to make il
questionable whether or not large amounts
are not lost by failure to collect. 20 the d.
rect loss of the treasury and to the prejudice
OF the Interests of honest importers and tax
payers. The Secretary of the Treasury, in
his report, favors legislation looking to
specie payments, thus supporting the views
previously expressed in this message; and
also recommends economy in appropria-
tons, and calls attention TO the loss of rev.
enue from repeating the tax on tea and
coffee without benefitting the consumer.
He recommends an increase of ten cents
gallon on whisky, and further, that no
modification be made in the banking and
currency bill passed at the last session of
come necessary by reason of the adoption
of measures for returning to specie pay
ments. In these Recommendations / cor
daily join. / would suggest to Congress
the propriety of readiusting the tariff so ms
to increase the revenue, and, ut the same
time, d crease the number of articles upon
which duties are levied. Those articles
which enter into our manufactures, and arc
not produced mt home, it seems TO me,
should be entered free. Those articles Of
manufacture Of which we produce con
stitueIt part, but do not produce the whole,
that part which we do not produce should
enter free also. | will Instance five WOOL
dyes, etc. These must be imported to form
part Of the manufacture of the higher
grades of wooden goods, ana chemicals used
MS dyes compounded in medicines and
used in various ways in manufactures. come
under this class The introduction, free of
duties, ofsuch woods as we do not produce,
should stimulate the manufacture of goods
requiring the use of those we do produce,
and therefore would be benefit tn home
production. There are many articles en-
tering into home manufactures which We
do not produce ourselves. the tariff upon
which increases the cost + producing the
manufactured Article. All corrections in
this regard are in the direction of bringing
labor and Capitsl in harmony with cuCh
other, and Of supplying one Of the ,lCmeut-
much needed.
Louisiana
/ Your attention \. i'll he drawn To the un-
/ settled condition Of affair, ia some of the
Southern States On the fourteenth of Sep
.ember last the Governor Of Louisiana call
ed upon me, as provided by the Constitu-
ton and Laws Of the United States, for aid
in the suppression OF domestic violence in
that State. Tho call was made in view If
al. 1 L. 4 I
| Penn, stating that he was elected Licuton-
ant Governor in 1872, and calling upon the
militia Of the State to arm, assemble and
! drive from power the usurpeTs, Is he de-
| signated the officers Of the State Govern
ment On the next day ] issued my proc
lamation commanding the insurgents to
disperse within five "ays from the date
thereof and subsequently learned that on
| that day they had taken forcihle possession
of the ststehOuse. Troops were stationed
there to support the existing and recog-
nized State Government, but before the eX-
| pirRtion of the five days the insurrectonary
movement was practically abandoned, and
! the officers Of the State Government with
some minor exceptions, resumed their pow
ers and duties. Considering that the pres
ent State administration of Louisiana had
been the only Government in that State for
nearly two years, that it has been tacitly nc
knowledge and acquiesccd in as such by
Congress and more than once expressly re
cognized by me, l regarded it as my clear
duty, when legally called upon for that pur-
pose to prevent its overthrow by an armed
mob under pretense of fraud and irregulari-
ty in thelelcction of 1872. | have heretofore
called the attention Of Congress to this sub
ject, STATIC that, on account Of the frauds
and periuries committed ut said election,
and because il appears that the returns
thereof were never legally canvassed, il was
impossible to tell thereby who were cho-
sen, but from the best sources Of intnrma-
ton at my command have always believed
the present State officers received u MAORI
/ tv Of the legal votes actually cost at that
election. repeat what | said my special
message of February l3, 1873 that in the
event of no action by Congress, | must con
tinue TO recognise the Government hereto
ihre recognized by me ! regret to say, thin
with preparations for the late elections, d.
cided indication appeared in some localt-
ties in the Southern States of "A determine
. ton to deprive citizens of the freedom of
/ the ballot because of their political Opin-
/ ions Bands of men, marked and armed
made THERE appearance; white leagues and
other societies we're formed; large quanti-
ties ofarms and ammunition were imported
and distributed to these organizations, mill