The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1874-12-24
THE PRESIDENTS MESSAGE.
what the Chief Executive has to Say to the
American Congress and the People.
THE cunRENcY ouEsrIo,

dustres has not been witnessed with ms for many
might be nduged in Without pro because tns S maSH
theories would be advanced there would be indepen.
cause Of this prostraon therefore will cali your aten.
on 3ny to ne tact and come questions to which it
this prostration two essential elements of prosperity
been largely unemployed Where security has been nm.
doubted capital has been attanabe at very moder.
found in abundance at cheap compared with what
necessarie and comforts of life could be purchased with
therefore have not been denied A third might be
limits Of onr 5nr SON ana climate are uneguaed within the
or s variety OF products to feed and clothe people,
peoples Therefore, with these facts vew it seems to
me that wise staesmansp at this session Of Congress
proper channels these great great elements Of prosperity
can with always sound currency enter into our affairs
TO cause any continued depression in the industries and
made necessary for Tr be
tasnS of HIge sums of money from whatever at
aud luxury not required for the happiness
indirectly foreign indebtedness The currency being Of
tuctuating value and therefore unsafe to hold for egt
speculation in itself These two causes however have
ny9lyod us in foreign indebtedness contracted in good
coin and according to the bond agreed upon when the
faith OF the government cannot bo Violated toward ere
ditors, without national Disgrace But our commerce
ing capacity INCREASED foreign markets sought for prod
mEts % Sf ths & soil and to the end that we
can be created the sale OF products either of the soil
utilizing idle capital and labor to the advantage of
the whole people But in my Judgment the first step tow
good wherever civilization reigns. which, If 1t be
comes superabundant with one people will find market
labor necessary to produce it, which will give to it its
value Gold and silver the recognized mediums
OF e1ehange the civilized world over, and TO this We
should return with the least practicable delay In view
sent legal tender system was adopted and debt contract
cd there should be delay, certainly unnecessary
llu1sl In ltrH hr
return to specie PAYMENTS To the accomplishment Of
that there can he no prosperous and permanent revival
Of business and industries until policy adopted with
basis easy to conceive that the debtor and spesn.
essS aye easse may think it 3 yaus to them to make So
their burdens upon others But even these, believe,
pursued which will keep in doubt the value of the legal
tender medium Of excharge-a revival of productive in
the holders of property Of whatever sort, with debts
ting that these two classes citizens are to be beneted
by expansion would il be honest TO give it! Would
the general loss be too great to justify such belief!
Would not be just honest and prudent authorize
each debtor to issue his legal tenders to the extent
S elT Of oyeTissue; by unseTrpulous creditors to say
he has at the time free from all encumbrance?
moment by thinking Or honest people Yet every delay
IN preparation for final resumption patakes of this dis
that convenient will at last arrive the good
MSrS STSr OF C pedGeag % MN our pledges TO i will
Congress or by national disasters which will destroy for
ut large sound currency might be reached by total
bankruptcy and discredit the integrity OF the nation
Eress at this session. to devise SUCH legislation will
renew confidence revive all the industries, start
career OF prosperity to last for years and
the credit of the nation and of the people Steps toward
this devoutly be sought for end There are others
which may touch upon hereafter a nation dealing in
First, having no use for the worlds acknowledged me.
NJ hose driya
out OF the country because there demand for their
iluctuating value, after all is only worth Just what
Will purchase OF gold and silver metals having in
takes produce them larger margin must be allowed
@ Tor proft by the manqfactprer and producer 1t is
zaton Interest upon capital must be charged and risk
in payment added. Hence high prices act as a pro.
lection to the foreign producer who receives nothing in
currency, good at stable value the world over 1t
seems to me that nothing clearer than that the greater
part OF burden or existing prOsraOn for the want of
sound financial system falls upon the working man. who
must, after ALL produce the wealth, and the salared
man, who, superlntends and conducts business. The
burden falls upon them in two waysby the deprivation
of their salaries 1t the duty Of Congress to devise the
method Of correcting the evils which acknowledged
SEEM Bn' 10 WILL yenturs to iggge2 two three things which
paynen'Tthe first great requisite is return to pros.
peity The legal tender clause the law authorizing
be repealed take effect as 10 ali contracts entered into
after day liked in the repeating act apply, how.
expenditures provided by law be paid in
ton Provision should be made BY Which the secTea4Py TeP
% tS iae.Snty can obtain gold as may become neces
si1 dfim1pion conmenses To this might and should be
audeu revenue sufficiently in excess of expenses to in
suie an accunpaon of gold in the Treasury sustain
redemption ] commend this subject your careful
tanabe and that reached By this Congress the pres
.ht ana future generations will gratefully remember
''"s 'ne ueeief from thradom of evil and disgrace
THE BANKING QUESTION.
With resumption, free banking may be authorized
WIN safety giving ull protection billhoders which
they have under existing laws would regard fra bank
Currency AZ more o%r4ec wg6 gs pT3eF % enSey to the
transaction of legitimate business new banks would be
when was found there was a larger abundance Of cur
reney reno The experience and Judgment of the people can
transaction of the business of the country 1t is unsafe
The Secretary Of the treasury ap sbe TO G&ngsS &
gress should make the regulation under which banks
limiting the amount of redeemable paper currency that
shhi hs De authorized such Importance do attach to
99s subject ana so earnestly do commend it to your
au@Gmtion en- that give it prominence by introducing
NJ the beginning OF this message
OUR FOREIGN RELATIONS.
The President refers at length to our relations with
foreign countries He says that during the past Year
nothing has occurred to disturb general friendly and cor.
dial relations of the United States with other Powers
lie refers to treaties made, and others in the hands of
commissions. Refers to the difficulties between Japan
usted and that the advance Of czaan n tt bes DE E Sa
piTes may not be retarded by a state of war.
~
certain articles the Treaty OF Washing
ton OF the 9Th day OF May ISL having been has proto
States and Great Britain on the 9sth day of May last
ana was duly proclaimed on the following day.
CHINESE Immigrants
In connection with the treaty with China call the at.
great PROPORTION Of he Chinese nmrrans aSs Wba
come TO our shores do not come voluntarily make their
pIosPelty but come under contracts with head men,
n ble
OF them perform any honorable labor, but they are
Wbee nd to 20 the rea Ses9s 5e
non OF the youth Of those localities il these evil prac.
desirable an end.
THE NORTHWESTERN BOUNDARY.
GPy @ of act the 0 gpG Of Of the o appointed
British possessions, from the Lake of the Woods to the
happy to announce that the field work of the co
sSon , mas been Completed and the entire line from
summit OF the Rocky Mountains has been run hnd
pay the amount remaining uneXpended of the appropra
made at the last session OF Congress will be sufficient
10 complete the ofrce work.
THE ALABAMA CLAIMS.
Gf Alabama Claims created by an act of Congress of
me l!st session. has organized and commenced lis work.
and paid. ''"'''N
on THE sIExIcAs BORDER.
Aaraudlng the frontier between Mexico and Texas
olyi and military authorities in that quarter The din
river of such length the Rio Grande and SO often
G6qSs 3 % i hBsd pc h that the % efforts Of this
enectual suppression of the acts of wrong.
THE CUBAN QUESTION.
The deplorable strife in Cuba continues without any
n1Tked 1d change II the reaiys sdyanages Of the
of stTif ai he