Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-08

,pecie basis are the great requisites TO this de-
which may touch upon hereafter. A nation |
iealing In q currency below that OF specie IN |
value, labors under two great disadvantage: |
First, having no use for the worlds acknoWl- |
edged medium OF exchange, g,ld and silver;
these are driven out Of the country because
there is no demand Tor their use.
second the medium OF exchange be-
only worth what It will purchase OF gold ano
silver metals, having an intrinsic value Just
in proportion TO the honest labor II axes 10
produce them. A large nargln must ps
allowed for profit by the manufacturer ana
producer II Is months from the date OF produc-
lion TO the date OF realization: interest," upon
capital must be charged and Tisk OF nuclua-
tion IN the value OF that which Is 10 De re-
ceived in payment added, hence the hlsn
prices acting as proleca99nl 10 a. sie ,cbsles
fOr the product OF his skill and labor eAcept,
currency good at a stable value the VIZ W.. |
over. II seems TO me that nothing : Sseo' ~
existing prostrai ion, Tor tne want o. x It s5.,
financial system, tails upon the MOl Airtts
man, who must after all produce tle se's1,a ~ 49,
md me salar-ted man. who supeItntends ana
conducts business the burden Islls pon @ 49, I
IN two ways-by the depriNal % 81 en- o,,v
ment and BY the decreased pure CHASING PONsSl -
Of their salaries. II is the duty OF congress ~
devise the method OF correcunE the SNlts s
which are acknowledges 70 eAls.l ano M, HoS -
mine but / will venture TO suggest tMo OF
fbree rbings which seems TO me as absolutely
necessary 10 a return TO specie pay fnents. ne
tirst glssi t6e TesOislsS Iesai-tepdeT claa TO
fhe law authorizing the issue OF cur
rencv by the uational government snouio
be repea led, TO take effect AS 10 al cohtfsets
tered into after day fixed in the repeating
act not 20 spply, however, 10 the pay menus q
salaries by the government, OF other expenses
nov provided by law TO be paid in currency.
IN the interval pending between the repeal
and final resumption, provision shoulG U9
made by which the secretary OF the treasury
can OBJ ain gold as IL U.sy D0c9me neeesssll! (!
S--,,,, 4frne ~ time frnn the date when spe'
Gle resumption cOmTIenceu. 10 Inls N 81
aud should be addfd revenue suIhclehl44 ~
excess OF expenses TO insure an accunulatlon
OF gold in the treasury 10 sustain rtdeLlp@I non non
I commend this subject 10 your earel1l co coD-
sideraiion. believing that a iaNoraOle soiulloh
is attainable. ana that, II feacneo b1 tlls So.t
syraSe the present and future generations VIII
ever gratefully renlem Der II Hs tnelr ueilNeI-
ance from q thraldom OF eNli ana uls eI1ce'
With resumption n, free banking may oe au-
tboriZed with safety, giving fuit protection 20
bfll-holders which they have under eAlsllns
laws. Indeed. would regard Tree pan King -
essentiai. It would give proper tiaa'lSLty S ~ ~
he currency as more currency would
be required Tor the transaction OF is te,
gitimate business. New bAnAs Mo.to it
would wind up their business when II was
found there wa- a superaoundance oL SuI VI
rency. The experience and luuglnenL o. i .ne
people can best decide Just nov lhuch eHl- t
rency is required for the transaction OF lne
business OF the country. II is unsafe 70 leaSe
the settlemento OF this question 70 congte-sl @ tne
secretary OF the treasury. or 10 the eNeculi We.
Congress should make the regulation uh1
which banks may exist but should NOT llsAs
banking monopoly by nmlllhg ne an 1if M ~
OF redeemable paper currency lnat snait oe
authorized. Such importance 90 attacn 20
this subject, and so earnestly 10 conneuu
II 10 your attention, that give u prom 10
by introducing Il at the beginning OF Jhls
message. ,..,,-,,
Dnring the past year nothing has occurred
10 disturb the general IT andly sna eoIolst , is
= #f,a limit
ers. The correspondence submitted here Win
between this government and rs dlpIoiAaiie : {
representatives OF other countries sa0~ sac ~, =
satisfactory cOndltion OF an luSs~ y3s ~.
between the United states and tne
most Of those countries, and. Win
| few exceptions, 10 which reference y
| -, -, made the absence OF any points OF
L difference 20 be adj usted. The notlce olIee ecu
nv The 7. solution of congress OF June Il, lo.4'
70 be given 70 the term nation o. we oVt I,
ton OF July l., lsjS, between the nlted states
| and Belgium, has been given, ana Lhe treaty
| viii accordiDgly terminate on ms. day o.
July, 1916 This convention secured 20 cti ~ w
| Belgium vessels entering the porth OF me
United States. exceptional privileges, Wnien
/ are not accorded TO oar own We sels. Otnei Oti-
] features OF The convention have proved salls
| factory, and have tended TO the culllVallOn ~
| the mutually bensnciai cominefclat tu.eL,
/ prise and friendly relations between the W. W.
/ countries. hope that the negotiations v llleL
/ have heen invited will result in the celebra
! ton or another treaty, which may tend 10 tht
! Interests Of both countries.
! CHINA AND JAPAN.
| our relations with China continue 70 o'
| friendly During the past year, the rear o.
| hOstilfies between China and Japan, growing
/ ont OF the landing OF an armed force uPoL
! the island Of FOrmosa Dy ihs laILtIl nas OS
/ caSioned uneasiness. lt Is earnestly nOpeu
/ howaver thaf the difficulties arising IRON
| this cause, Will be adj listed, and that the al
| varce OF civilization IN these empires ilA9
not be RETARDED by a state OF war, In conss
0uenee of the part taken by certain el'lzsns
OF the United states N TINS ehPe
dition, our represe natives IN those oOunl , ie
| have been Instructed 10 IN press upon ~
/ Governments Of China and Japan the nrIn IN
| feution of the country 70 maintain strict neu'
| tralify in the event Of hOsulities, and care
| fully prevent any reiracilon OF tne law Oh 'l'
part OF our citizens.
CHINESE IANIGRANIS.
In connection with tins subject cal Tn
| attention OF congress 70 generaily CON-
| fact that the great proportion OF 'hlnes AZ ,5s
] emigrants who come 70 our shores 40 no
| come voluntarily TO make thelF homes VII
| Us and their labor productive OF general pros
| perity, but come under contract win iiea'
ig,eI, Who own them almost absolutely. In
| worse form does this apply 70 Chlnes
women. Hardly PercepiloLe PeIeehI5ag ma,
Pnt NV are brought here for shameful pun
noses 70 the disgrace OF the communltle
where settled, and TO the great delnorai sstlo
OF the youth OF those Localities. II thls oit
Il nractfce can be legisIated against il viii b
my pleasure as well as duty 70 enforce an
regulation 10 secure 50 desirable an ena'
JAPAN.
II is hoped that negotiations between IN
. | Government Of Japan and the oiher pOMel
l Locking to the furtneT opening Of lne ehpll
/ ord 10 the removal OF various restriction
J upon trade and travel may soon pIoduGs U.
results desired, which cannot lall I
. euure 10 the benefit OF all the paIle
= Having on previOus ccasions suDmttleG
the consideration OF congress w
/ DroprIety OF the release Of the Japane'
p gov rnment from the further payment {
r I Vndemnrv under the convention OF OclODs
E. - 1854, and as no action had peen taken taeI'
D in il became my duty 20 regard me ooll gatoL
o. the convention ss In force; and as lhe OF nt
] rnyrers interested have received their pollo
, OF the Indemnity in full, The minister 9i m mth
F, United states 70 Japan has been notlhed w
1 lhis government has not received tue y lilaIL
: der dine 10 the United States under the COZ
. vention OF oimOnsEl. submit the ptopIltt !
5 OF applying the income OF part, II not ~
J whole, Of this fund TO the education in N
e Iapauesa Language OF a mum Der OF Oung me
! 10 be under obligations TO serve me goFeH
e ment for a specified time as lnterpreteIa
s the legation and the cOnsulales IN JdPdn.
2 limited number OF japanese youths lnlgnl
5 the same time he educated IN our VeTnac ~ = =
aud good would result 10 botH goyernime
The importance OF having our own citlzei
coo1peteut a nd familiar with the lang udse
Japan, to act as interpreters and IN other q
/ paeities connected with the legation anu u
D / consulates IN that country cannot readlIy
overestimaied.
. GREAT BRITAIN.
The amount awarded 10 the government
Great Britain by the mixed commission o
! ganized under the acts OF the treaty OF v sSl
: fngton, in settlement Of the claims o! Bflll'
= subiects arising from acts mmltteu DeIWee
: April is 1861, ana April 9, lso1i became pa.
able, under the terms Of the treaty, Wltn IN I y
past year, and was palo upon NE tHeu.3 - ~
dav 6f Septern Der, 1874. In this connection,
= renew Iny accommodation made at the opel
ing Of the last session Of congress, that a 81
: cial court be created 10 hear and deter mine 4
I claims Of alieus against the United Slab
2 arising from acts committed against tne
I persons OF property during the insurrectio
: II appears equitable that opportunity shou
= | be offered for persons Of other states 70 pr
: sent their claims, AS well as TO the Btlti'
4 | subjects, whose claims were not adinlsslD
4 under the late commission TO the early oecl
! 4 ION OF a competent II bunal, and reroI
: | mend the necessary legis alton 10 orghnl
a ! a court 20 dispose OF those claims q alle
= who are referred TO in an equitable anu san
. Z factory manner, and 70 relleVe congress az
/. the departments from the consideration
i these questions.
: NEWFOUNDLAND.
d The legislation necessary TO extend TO u
5. coionx of Newfoundlaud certain articles
y the treaty Ct Washington Of the eighth
y Nav, Is7I. having been mad, protocol 70 N
a effect was suggested in behalf Of the 1 MI
le states and Great Britain on the = n OF u
" last, and was duly proclaimed on tne iOhO
% ing day. A copy OF the proclamation Is 81
y miited herewith.
4 OUR NORTHERN BOUNDARY.
Is A copv OF the report Of the commission
N apDoinfed under the act Of March ls, ls82i
le Surveying and marking the boundary
ID ! fveen the United states and the British y
h SESSIONS, from the Lake-of-the-W GODS 10
e summit Of the Rocky mountains Is hereh
II transm tied. ! am happy 10 announce U
n ths field work Of the commission mas %
Je completed, aud the entire line, from
= north s. est corner Of the Lake-oi-th6-N " oOul
ly the summit Of the Rocky mountains M Ds
& run and marked upon the surface Of the ear
M ii h believed that the amount remaining
re exuendsd OF the appropriation maze az
al iast session OF congress viii be sufficient
b compIefe the work. / recommend that
k thority Of congress be given 70 use the un
a. pended balance OF the appropriation IN
e. completion OF the work Of me coullaiss
O. in making the report and printing necess'
W map.
at AlAGAMA CLAIMS.
"a The court known a. i4ie court OF CONN
~ siouefE Of Alabama claims, cfeafed by acl
- eonpress the last session has OF.anlEef y
81 commenced its work, aud il Is 70 be hol
- nm agsHHH n n a