The Superior times. [volume] (Superior, Wis.) 1870-1912, 1874-12-19
NATIONAL AFFAIRS
Annual Message of Presi-
dent Grant.
A Comprehensive Review of all
Departments of the Gov
eminent.
The Story Of Southern Troubles
Plainly Told.
Specie Resumption Earnestly
Urged.
Sundry Recommendation and Sug-
gestions
Sundry Recommendations and Sug-
gestions.
To tie Senate and House Of Representatives.

To The Senate and House ST Representatives.
Since the converting of Congress one wear
ago the nation has undergone prostratiOn III
business and industries such as has not been
witnessed with us for many wears. Specula-
ton as to the causes for this prostration might
be INDUCED IN without profit because as MANY
theories would be advanced as there would be
independent writers-those who expressed
their own views, without borrowing upcs the
subject, without ndulSing III theories as to the
cause of this prostration. Therefore | will
call your attention only to the fact and to
some questions as to which it would seem there
should be no disagreement During this pros
tratlon two essential elements of PROSPERITY
have been most standardization and capital.
Both have been largely unemployed Where
security has been undoubted. capital has been
attalnable at very moderate rates. Where labor
has been wanted, 1t has been found in abundance
AT cheap rates, compared with what of neceS-
sarles and comforts Of life could be purchased
with the wages demanded Two great ele-
ment8 of prosperity, therefore, have not been
deuied us. third might be added. Our soil and
Innate ale unequalled, within the limits of any
contiguous territory under one nationality, fol
rs varieties OF produce to feed and cOthe q
eOple, and All amount of surplus to spare tC
ICED less favored people. Therefore, with
these facts In view, it seems time that wise
craftsmanship ut this session of Congress
would dictate ignoring the past, distributing in
Nhe proper channels these great elements OF
prosperity to any people Debt abroad is the
lnly element that can, with always sound
currency, enter into our affairs to cause any
continued depression in the industries and
prosperity of our people. A general conflict
for national existence made necessary
Tor temporary purposes the raising
of large sums of money from what
ever source attainable. 1t made necessary
III the wisdom of Congress, and [ do not
doubt their wisdom in the premises regarding
the necessity of the times, to devise system
of national currency which proved to be i'm
! possible to keep on par with the recognized
currency of the civilized world This begOt d
! spirit OF speculation, involving an extravaganza
/ and luxury not required for the happiness OF
! prosperity of "a people, and involving both di.
/ rectly and indirectly foreign indebtedness
The currency, being of too fluctuating a value tx
/ he unsafe to hold for legitimate transactions
/ requiring money became subject of specua
| ton III itself. Those two causes. however
| have involved It's IN a foreign indebtedness
1 contracted IN good faith by borrower and lend
/ or, which should he paid III coin and according
/ TO the bond agreed upon when the debt wal
contracted gold or lis equivalent. The gOot
/ faith of the government cannot be violated to
wards creditors at the expense of national dis
! grace. Our commerce should be encouraged
| American ship building and carving capacit,
! increased, foreign markets sought for the pro
| ducts of the soil and manufactures to til,
| end thai we may be able to pay these
| debs. Where market can be created for tn,
sale of our products, either of the soil the
| MINIS or the monufactOry. a new means is dis
| covered Of utilizing our idle capital and abo
TO the advantage of the whole country.
/ SPECIE RESUMPTION.
! But, i'll my Judgment. the first step towards
! no nj fish oh
rency good wherever civilization reirns. anc
which. If 1t becomes superabundant with on.
people, Will find market with some other: ;
currency which has az its basis the labor nee
e~Ealy to produce it which viii give it's value
/ Gold and silver are now the recognized medi
ums of exchange the civilized world over. an,
to this we should return with the least luscri
! cable delay. In view of the pledges OF Tia,
/ American Congress when urpresent legal ten
dor system was adopted and debts contracted
( there should he 10 delay. certainly no unnec
e7sary delay, III fixing 10y legislation a metho,
/ 10y which we will return to specie 70 the nc
| complishment Of this end invite your atteu
ton. | believe firmly there can be no pros
/ porous and permanent revival of business an,
Industries until policy is adopted, with legis
lation to carry it ont, looking to a return to
specie basis 1t Is easy to conceive that the
debtor aud Spectator NAV think it O
value to make sO-called money abundant un
til they can throw portion of their BURDEN
/ upon others. But even these | believe Woult
be disappointed III the result if course SHOULD
be pursued which will keep in doubt the vain,
of the legal-tender medium of exchange. I
revival of productive industries is needed b,
all classes-by none more than the holders o
property of whatever sort with debts to l1ui
date from realization upon its sales. But adj
| mlttlng that the two classes of citizens are (,
be benefited by expansion. would it be homes
TO give it Would not the general loss be too
great to Justify such relief? Would it not b,
Just ar honest and prudent to authorize eacl
debtor to issue his own ega-tenders to the ex
tent of his liabilities as to do this Would
1t not be safer, for fear Of over issues by un
s0IupulOus creditors, to say that all debt obi
cations are obiterated in the United States
and now we commence anew. and each possess
ing all he has at the time free from incumb
brance?
/ These propositions are too absurd to be en-
tertained for a moment by thinking peo
! pie. Every delay i'll the preparation of fina
| resumption partakes of this dishonesty, and i
only less III degree as the hope is held out tina
a convenient season will at last arrive for tn,
good work of redeemlng our pledges to com
meuce. 1t will never come. in my opinion
. except by positive action by Congress. or b,
national disaster. which will DESTROY for a time
at least, the credit of individuals and the stat,
I at large sound currency must be reached
! OF the total bankruptcy of the credit and i'll
! tegrty of the nation, and Of individuals NAV EN-
sue. believe It is in the power of Congress a
/ this session to devise such legislation al
will renew confidence, revive all Industries
start lis ON career of prosperity. to last 70
many years, and save the credit of the nation
/ and tho proper steps toward return to ,
specie basis are the great requisites to this de
/ devoutly to be sought for end. There ar,
/ others which | may touch upon hereafter 4
/ nation dealing in a currency below that O
/ specie III value, labors under two great disad
vantaGes.
! First, having no use for the worlds acknowl
/ edged medium of exchange, gold and silver
I these are driven out of the country because
/ there is no demand for their use
/ Second. the medium of exchange in use be
ing of iuctuating value for after all it is onI,
/ worth just what 1t viii purchase of gold ant
/ SILVER metals, having an intrinsic vauO lust II
/ proportion 10 the honest labor it takes to pro
/ duce them, large margin must Toe allowed fo
/ prOht 10 the manufacturer and producer 1t i,
/ months from the date of production to the date
/ OF realization. interest upon capital must b,
/ charged and risk OF iiuctuation in the value 81
I tiiat which Is to be received in payment added
! Hence high prices acting as a protection Il
/ the foreign producer. who receives nothing II
exchange for the product of his skill and labor
( except currency good at staple value the
world over 1t seems to me that nothing /,
/ clearer than the greater part of the burden OF
/ existing prOstration. for the want of a SOUND
/ financial system, falls upon the nottingham
/ who must after all produce the wealth. and
/ salared men who supeTintemds and conduct
business The burden falls upon them in two
ways-by the deprivation of employment
/ and by the decreased purchasing power OF
/ their salaries. 1t Is the duty Of Congress ia
devise the method of correcting the evils