Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1874-12-14
The Message.
FULL TEXT OF THE PRESIDENTS VIEWS.

Another Powerful argument an Favoy
Of Hard NOney-SaaStactOry Rela-
tions aCiM Foreign PoacerS-An Alien
Court agajn Observation-Disclosures
ana and Ar&onSas-IHe Reports of
tie Varioa's Departments Of the Coz
ernment-1He Cirit Service, Etc.
The Presidents message opens with
discussion of the financial question, with
especial reference to the influence of fl
nancial depression on the prosperity of
the country. The President argues
strongly in favor of a resumption of spe
Gle payments, and, among other steps
suggested to bring about the change, he
recommends the repeal of the legal ten
der act and favors free banking. AS
stated in the Globe specials would be the
case the President deals with the ques-
ton of Chinese immigration in such
way as must result in some definite ac-
ton on the subject, especially with ref
erence to the importation of Chinese wo-
men. The other portions of the message
follow, substantially, the line of discus
sion and thought announced in our de-
spatches, except that the main part of
the portion relating to Cuba is deferred,
to be tahen up in special message, or,
as the President says, for ga further and
fuller communication. Below the mes
sage is printed in full.-BoSton Globe.
THE FINANCIAL QUESTION.
To tie Senate and House Of Repre-
SentativeS: Since the converting Of Con-
gress, one year ago, the nation has I'M
dergone prostratiOn in business and
industries such as has not been witness
ed with US for many years. Therefore,
/ will call your attention only to the
fact and to some questions as to which
it would seem there could be 10 disa-
greement. During this prostration, two
special elements of prosperity have been
most abundant, labor and capital. Both
have been largely unemployed where
security has been undoubted, capital has
been attainable at very moderate rates.
Where labor has been wanted it has been
found in abundance at cheap rates, CON-
pared with what of the necessaries OF
life could be purchased with the wages
demanded. Two great elements of pros
perity, therefore, have not been denied
us. A third might be added: Our sol
and climate are unrivaled within thu
limits of any contiguous territory, unde1
one nationality for its variety of product
to feed and clothe people, and in thu
amount of surplus to spare to feed les
favored people.
WHAT WISE CRAFTSMANSHIP DEMANDS.
Therefore, with these facts in view, i
seems to me that wise craftsmanship a
this session of Congress would dlctat
legislation, ignoring the past aud direct
ing in proper channels these great ele
ments of prosperity. The debt abroa,
is the only element that can, with
sound currency, enter into our affairs t
cause any continued depression in tn
industries and prosperity of our people
A great conflict for national existenc
made necessary for temporary purpose
the raising of large sums of money frol
whatever source attainable in the wi
dom of Congress. l do not doubt the
wisdom in the premises regarding tt
necessity of the times to devise syste
of national currency which it proved
be impossible to keep on par with Il
recognized currency of the civiliz,
world. This begot a spirit of specul
ton involving an extravaganza and lu
ury not required for the happiness al
prosperity of a people, and involvi
both directly and indirectly foreign
debtedness. The currency, being of flu
uating value, and therefore unsafe
hold for legitimate transactions requ
ing money, became subject of specu
ton in itself. These two causes, he
ever, have involved us in q foreign
debtedness contracted in good faith
borrower and lender, which should
paid IN coin and according to the be
agreed upon when the debt was contra
cd, gold, or its equivalent. The g,
faith of the Government cannot be '
lated toward creditors without natio
disgrace, but our commerce should
encouraged, American ship building
carrying capacity increased, foreign n
kets sought for products of the soil
manufactures, to the end that we 1
be able to pay these debts where
market can be created for the sale
our products, either of the soil, the Il
or the mandatory. A new means
discovered of utilizing our idle car
and labor to the advantage of the W
people.
THE FIRST STRIP: SOUND CURRENCY
A GOLD BASIS.
But in my judgment, the first ste
ward accomplishing this object is to
cure currency good wherever civi
ton reigns, one which, if it becomes
perabundant with one people, will
market with some other; a curr
which has as its basis tho labor moo