National Republican. (Washington City (D.C.)) 1872-1888, 1874-04-08
NATIONAL HNANCES
SPECIAL MESSAGE OF GoTERNUR ID
OF NEW worry

/ nal 1OHdL TIN
SPECIAL MESSAGE OF GoTERNOR DIX.
OF NEW YORK.
| ALBANY, April T.-Goyernor DIX fu message
to the Legislature to-day, says: deem Il due 70
the interest and honor OF the State to call upon
you, IS its chosen representatives., to take into
consideration the propositions before Congress In
regard TO tho currency. Though immature and re-
quring the concurrent action Of both Houses 70
give them tho validity Of law, they have, never
theless, received in each such partial sanction
as to excite serious alarm as to the result In my
annual message In January last expressed the
earnest hope that the paper In circulation Issued
by tho Government would be curtailed, and that
early steps would be taken to resume specie pay
ments.
did not anticipate that 90 extraordinary .
proposition Of inHating the currency, by adding to
the outstanding legal tender notes, or By author
king further issue Of national bank paper,
would be seriously made. In view Of the purpose
which has be en- indicated to enlarge the volume
ofpaper Of both descriptions, and to repudIate ali
attempts TO re-estsblish the standard Of specie .
policy, as sincerely believe,
FRAUsHr WITH WIDESPREAD RUIN
to the industry Of the country, and with immt-
nent danger to its credit, invoke your interposI-
ton to contribute all In your power to prevent its
adoption. Your opinion, representing, as you do,
more largely than the Legislature Of any other
State, the financial and commercial interests Of
the Union, should carry with It great weight
Inc fagrsnt injustice Of tho proposed-measura
VIII be more apparent when you consider that, II
adopted without repeating the legal-tender act,
INC results Will be not only to depreciate the
paper currency still further, but to compel its
acceptance In the payment Of the debt, thus
openly violating the solemnly- proclaimed pledge
Oh the Government i've years ago to redeem its
notes specie at the earliest practicable period,
/ NrrrN0 N~fV1 H.
summating what the Constitution prohibits to the
States as an
ACT OF MORAL AND POLITICAL rURPITuDE
To degrade the currency and at the same time
to compel the people to receive 1t equivalent
| to specie would be the most tyrannical exercise
and abuse of financial power OF which the Gov
eminent has ever been guilty In time Of peace.
1t differs In no essential respect, either under
| itsmoral or Its practical effect from degrade
ton Of the standard Of specie by an adulteration
OF the national COIN Five years ago the sense Of
| rectitude would have reVolted at the suggestion
| Of such an act Of perhdy, but q persistence in
wrong and injustice rarely fail to reconcile further
wrong, to the thought first and to tho purpose
| Afterwards. II, spurning away all teachings Of
history and trampling under foot all maxims OF
political justice, We adopt policy as fraudulent
as it is demoralizing, will look back
on our conduct with humiliation and shame. The
millions Of deprecated and irredeemab!e paper
ifissued as proposed will, by law Of distribu-
ton which no human power can control, be intro
duced into the city of New York to
UPHOLD AND STIMULATE STOCK GAMBLING,
to glut the channels of industry, embarass all
honest transactions Of business, and cause reac-
tions in the various departments of labor, by
which the working classes are thrown out of en-
ployment, and to shake to its foundation the
fabric Of the public credit. Against the intro
ductiOn O such Instrument of tfsbopor and
calumny we should enter our Solemn protest, a.
we would against any other Hood of CONTAINING
tion- speak with q Gear understanding Of the
force of my words. I believe and trust you will
concur with ne In the opinion that the emer-
gency demSnds the plsinsst and most emphatic
language. =
4b-.efore recommend such expression on your
part as may comport with the dignity Of tho
Legislature, and as you may deem due to the in
terests Of your constituents. 1 am not without
the hope that timely declaration of your views,
| to DO presented to Congress through the Senators
and Representatives, from this State, may arrest
the torrent Of disgrace and disaster with which
! the country Is threatened from this source. II
your protests and warnings are unhesded you
will have the consolation OF rejecting when the
evil comes upon US, that no effort on your part
has been spared to avert it.
(SIgned) JoHN A. DIX
In the Assembly resolutions were offered
and referred to the ways and means committee,
with instructions to report tomorrow, indorsinE
Governor Dix's message and asserting that the
judgment of the Legislature Of the State Of New
York is that It is the duty Of the Administration
at Washington and Of Congress to stay the per-
nicious and ruinous policy Of Increasing the VOL
ume Of irredeemable paper currency and to take
measures for 8 speedy resumption of specie pay.
ments.
Copies will be sent to the members Of Congress.
In the Senate, the Governors message on the
currency question, and a resolution indorsing the
sentiments and directing that copies be sent to
Washington, were referred to the fnanes COM
@iItas. ! =: :
ACTION OF THE TrSANcE COMMITTEE.
ALBANY, N. Y, April I'm the State Senate
tonight tie anahds eonEalttss, 10 whom was r..
fsrred the Governors message relative to imitation
Of the currency, reported the following concurrent
resolutions:
Whereas the Governor has this day transmitted
the imitation Of the currency by the General Gov
ernment, calling attention to the disastrous effect
Of such action upon the welfare and prosperity Of
Resolved, That We fully approve and heartily
indorse the sentiments expressed in such message,
and In view thereof and Of the act of Congress an
proved March, 1859, which affirmed the faith Of
the United States, was solemnly pledged to the
PayH IN cum Oh al OOllgaLi0nS OF the United
States not bearing interest known as United
States notes, and that the United States also
solemniy pledge its faith to make provision ut
the earliest practicable period for the REDEMPTION
OF United states notes In coin, and as the pledge
mas been repeatedly given, It Is the Judgment Of
the Legislature Of tho State of New York that re
Is the duty OF the administration OF Gen. Grant
at w ashington and OF Congress to stay the pernf-
cious and rulnous policy Of Increasing the volume
OF Irredeemable paper currency.
heSoIped, That our Senators and Represents
ives In Congress BE- and they are hereby re-
quested to resist by all efforts in their power anY
imitation Of tho currency through a further issue
OF circulating notes or by national banks and that
they be requested respectfully to promote by all
ments.
Resolved, That the Governor be requested to
transmit these resolutions with COPY Of his mes
sage to the President of the United States and to
each Of our Senators and members in Congress.
The resolutions were adopted, all voting in the
except three.
The resolutions were then transmitted to the
House, where, after considerable debate, they
were unanimously adopted.
ACTION OF CHICAGO MERCHANTS
CHICAGO, April The board Of trade of this
city to-day adopted o resolution asking Congress
not to adopt any legislation which will result in
IN increase OF the volume Of paper currency, and
to the President, in case such legisla-
lion shall be adopted by Congress, to interpose
his veto.
THE WOMEN'S CRUSADE.
DIsGRACEFUL SCENES IN OHIO.