Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-12-08
THE PRESIDENTS MEssAGE

Aho Ahociuons -eooe8e
in Congress yesterday.
at LIS p. NJ, read. and a. usual.
ordered to b printed. 1t In . long.
plain. able. exhaustive document,
touching upon nearly II not quite,
everything Of public importance which
has occurred since the presentation OF
bis last previous message. We have not
space in our columns to print il entire.
but give . careful abstract OF Its most
Important c~onteats. lFWTFFen y.
He FIRST calls attention 10 the large
supply OF both capital and labor now
unemployed, and in seeking to analyss
the causes Of business depression. refers
TO tho unstable nature Of our currency.
and the fact that Il has been for years
past the subject Of speculation On &C
count Of its n~uctuating value. To this
cause and the further one that we. a. a
people. have BEEN exceedingly sxtrava-
CANT he attributes the large amount Of
our foreign Indebtedness. This debt he
says. must Be paid in the farms agreed
upon. In suggesting to Congress the
means by which business may be
revived and capital unemployed.
he says: Our commerce should
BE- encouraged. the carrying capacity
Of our shipping increased, and foreign
markets sought for products OF our soil
and manufactures. But the first bus
mess he thinks Is the securing Of a"cur-
rsncy good wherever civilization roigns;
one which. II II becomes superintendent
with our people. viii find q market with
some other; a currency which has a. its
basis the labor necessary to produce 1t,
which will give US q value" Gold and
silver make such q currency. and these
he recommends be adopted speedily. He
discusses At length the advantages and
disadvantages Of q speedy return to
specie payments; and finally in this con-
nectien recommends the repeal Of the
Legal Tender Act, and the fixing Of an
early day for resumption. at which time
he says free banking al Be- safely aa-
thorizsd. He remarks that IL 10 unsafe
to leave the settlement Of this question
to the Secretary Of the Treasury or the
Executive. Congress should make the
regulation under which banks may sI-
list and should not make banking anon
opoly by limiting the amount Of re-
dssmabls paper currency that shall Be
authorized.
Tho President dsvotes considerable
space to the Chinese immigration ques-
ton, and takes ground strictly in accord
with tho sentiments Of the people OF
this coast. He refers to the fact
that these immigrants do not come to
make their homes with US and their Ia
Dor the production Of general prosper
ity, but come under contract with head
men who own them almost absolutely.
''In a worse FORM says he, docs this
apply to Chinese Women. They are
brought for shameful purposes, to tho
disgrace Of tho communities where they
are settled and to the great dsmoraliza-
ton Of the youth Of those LEGAL
tiles. II this evil practice an DO lsgis-
lated against. il will be my pleasure rs
well as duty to insure 30 desirable an
end"
He touches briefly upon the Japanese
indemnity fund. the Alabama elaims,t the
Northern boundary line, the treaty with
Turkey. which provides that U. s. eiti-
zsns may hold real estate in that eoun-
try. and then refers at some length to
the Mexican raids into Texas. Passing
over with brief reference the troubles in
the Argentine Republic. srsths vsnszus-
Ian indemnity he comsstot the case OF Gu
be, Of which he uses this significant Ian
guAgs: q = rt.
The deplorabls strife in Cuba contin.
ues without any marked change in the
relative advantages OF the contending
forces. The instruction continues, but
Spain has gained no superiority. Six
years OF strife give the Instruction .
significance which cannot be ignored.
Its duration and the tsnacity OF Its ad-
hercnts. together with the absence Of
manifested power in its suppression ON
the part OF Spain. cannot be controvsrt.
ed, and may mako some positive steps
on the part Of other powers q matter OF
sslf-necessity.
He lightly touches on our relations
with SPAN. growing out Of the Virgin
ius affair. and after saying that an early
settlement is hoped for. intimaiss that
the matter will DO made the subject Of a
special message hereafter.
Upon the subjects Of voluntary sI-
patriation and citizenship, and fraudu-
lent naturalization. the President il en-
phAtie. and somewhat prolix. Relative TO
the Rsvenus and public debt. he calls
attention to the fact that the receipts
were only about s23. 900, 900 above sI-
psnses during the past year. and accord
ing TO the estimates Of the Secretary Of
the Treasury. will be but about s9,O00,-
900 in the current fiscal year. and sug-
gests that either the revenues be in
creased or expenses diminished at once
(This suggestion will strike everybody
a. sensible. u not Originally In sug-
costing methods TO increase the revenue.
he recommends an increase Of the rate
OF duties, and decrease Of the number OF
articles upon which taxes are leyisd;
suggesting that all articles which enter
int our manufactures. and which We do
not produce. should be admitted free OF
duty. This he claims would reduce the
.o., ~ manufactures coods and at the