Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1875-12-09

1
purview of the Treasury-I mean specie |
resumption: Too much stress cannot De
laid up n this question, and hope Congress
may be induced at the earliest day practicable |
to insure the completion OF the act OF the last |
Congress, at its last session. to bring about spe- |
Gle resumption on and after the LIST day of jan
nary, 1879, at furi hest. 1t would be great |
blessing if this could be contaminated even at |
an earlier day. Nothing seems to me more GER |
tain than that full, healthy and permanent re- |
&C ion cannot take place i'll favor OF the indus |
tries and financial welfare OF the country until
throughout the civilized world. While we use
q currency not equivalent to this. this standard
the worlds recognized standard-specie. be- |
comes a commodity like the products OF the
soil, the surplus seeking market wherever
system we should want none, nor would we
have any, were it not that customs dues must
be paid in coin, and because OF the
pledge to pay interest on the public debt
in coin. The yield OF precious metals would
flow for the purchase of foreign productions
and leave the United States "hewers OF WOOD
and drawers of water" because OF wiser leglSa-
ton ON the subjects OF finance by the natlons
with whom we have dealings am not prepared
secure the end most heartily recommended. 1t
will be source OF great gratlhcatlcn 10 me 10 pc
able to approve any measure OF Congress look-
ing effectively toward securing resumption.
Unlimited imitation would probably bring about
specie payments more speedily tnan any iegisia-
ton looking to the redemption OF tne iegai Ten
honor The legal tenders would have no value
beyond settling present liabilities, or, properly
Spesking. repudiating them. They would prinS
nothing after debts were all settled
! There are few measures which seem 70 me
important in this connection, and wnlch COM,
| mend to your earnest con Iteration; A repeai
of so much OF the legal-tender act as makes these
notes receivable for debts contracted al,er
date to be fixed in the act ITSELF; say nol tatef
| than the LIST of January, 1871. We should theil
have quotations at real values, not nctitious
ones Gold woald no longer be at a premium
but at as & Mtn DESIRE to
| make the currency equal TO what 1t purports 10
! be. The merchants, manufacturers, ana traces.
men of every calling could do business on fair
margin OF profit. The money 10 pc received
having an unvarying value, laborers and all
classes who work for stipulated pay or salary
| would receive more for their income because
| extra profits would no longer be charged by the
| capitalist to compensate for the risks OF a down.
| ward tiuctuation IN the value OF the currency.
| Second, That the Secretary OF the Treasury be
authorized to redeem, say not to exceed $1,000
900 monthly, legal-tender notes by issuing IN
! their stead long bond bearing interest at the
| rate of 1855 per cent. per annum, OF denomlna-
tions ranging from $50 to $1,000 each. This
would, in time, reduce the legattender notes to
| a volume that could be kept afioat without de-
| mandng redemption in large sums suddenly.
| Third That additional power be given to the
Secretary OF the Treasury to accum slate gold
for final redemption, either by increasing reVe-
nue., curtailing expenses, or both. 1t is prefera-
BILE to do both, and recommend that reduction
| of expenditures be made wherever it can be
done without impairing government obllga-
tions or Gripping the due execution thereof
/
the only one think of, is the restoration OF the
| duty on tea and coffee. These duties would add
probably $ls,0OOOOo to the present amount re
ceived from imports, and would in no way in
crease the prices paid for these articles by the
| consumers. These articles are the products OF
countries collecting revenue from exports, and
as we, the largest consumers, reduce the duties,
they proportionally increase them With
this addition to the revenue many, duties
now collected, and which give but an
insignificant return for the cost OF collection,
might be RENTED and to the direct advantage
of consumers at home. would mention these
articles which enter into the manufactures OF
/ all sor s. All duty paid upon such articles go
directly to the cost OF the articles when manu-
featured here. and must be paid for by the COZ
sumers. These duties not only come from the
consumers at home, but act as protection to
the foreign manufacturers OF the same com
| pleted articles in our own and distant markets.
| Twill suggest or mention another subject bear
ing upon the problem OF how to enable the Sec
rotary of the Treasury to accumulate balances.
| It is to devise some better method of veri-
| flying claims against the government than at
| present exists through the Court OF Claims, es-
pecially those claims growing out OF the late war
Nothingis more certain than that very large
percentage of the amounts passed and paid are
| either wholly fraudulent or are far in excess
| of the real losses sustained. The large amount
| of losses proven Ion good testimony, according
| to existing laws by affidavit OF hctlJIou5 or I'M
| scrupulous persons, to have been sustained on
small farms and plantations, are not only far be-
| yond the possible yield OF those places for any
one year, but as every one knows. who has had
experience in tiiIing the soil, and who has visit
| ed the scenes OF these spoliations, are in many
instances more than the individual claimants
real estate The report Ct the Attorney General
! which will be submitted to Congress at an early
| day, will contain detailed history OF awards
made and of claims pending OF the class here
| referred to.
| THE WAR DEPARTMENT.
| The report of the Secretary of War, accompa-
nying this message, gives a detailed account of
army operations for the year just passed. ex-
penses for maintenance, ETC.. with recommen-
| for TO Ub ieh TpQa fin "
invite your attention. To some OF these in
vite special attenti on First. the necessity Of
making 100000 of the appropriation for the
subsistence department available before the be-
ginning of the next fiscal year. Without this
| provision troops at points distant from supply
production must either go without food, or ex-
| listing laws must be violated. 1t is not attended
with cost to the treas ury. Second, his recon-
mendation for the enactment of system of an
puities for the families of deceased officers by
voluntary deductions from the monthly pay of
| officers. This again is not attended with bur-
| den upon the Treasury, and would Tor the fu-
ture relieve much distress which every old
army officer has witnessed in the past, OF off,
| GERS dying suddenly or being killed leaving fam
/ lilies without even the means of reaching their
friends, if fortunate enough to to have friends,
to aid them. Third, the repeal OF the law
abolshing mileage and a return to the old sys-
| TEN. Fourth, the trial with torpedoes under the
Corps OF Engineers, ana appropriations for the
same. Should war ever occur between the
United States and any MARITIME power, torpe-
and cheapest auxiliaries for the defence OF har-
bors. and also in aggressive operations that we
can have. Hence It is advisable to learn by eK-
pertinent their best construction and applica-
tion as we'll effect Fifth, a permanent or
ganization for the Signal Service Corps. This
service has now become a necessity OF peace
as well as war under. the advancement made by
the present able management. Sirth, renewal
of the appropriation for compiling the official
records of the war, etc.
THE NAVY.
The condition of our navy at this time is
subject of satisfaction. 1t does not contain it
is true, any of the powerful cruising iron-clads
which make SO much of the maritime strength
OF some other nations, but neither our CONT
mental situation nor our foreign policy requires
that we should have large number of ships OF
this character, while the situation and the ma
ture of our ports combine to make those OF
other nations little dangerous to us under any
| circumstances. Our navy does contain. how
ever. a considerable number of iron clads OF
the monitor class, which, though not properly
cruisers. are powerful and effective for harbor
own shores. OF these, ali the single-turretted
ones, fifteen in number, have been substantially
rebuilt, their rotten wooden beams replaced
with iron, their huils strengthened, and their
engines and machinery thoroughly repaired, so
that they now in the most efficient condi-
ton and ready for sea as soon as they can be
manned and put in commission. The five dou-
ble-turretted iron-clads belonging to our navy,
by far the most powerful OF our ships for fighting
purposes. are also in hand, undergoing complete
repairs, and could be ready for sea in periods va
rying from four to six months. With these COM
pleted according to the present designs and
our two iron -turretted boats now ready, our
iron-clad fleet will be. for the purpose OF de-
fence at home. equal to any force that can rea-
Oily be brought against it: OF our wooden navy,
also cruisers OF various size to the number Of
about forty, including those now in commission,
are in the Atlantic, and could be ready for duty
as fast as men could be enlisted for those not
already in commission. OF these one-third are
in effect new ships and though some OF the re-
mainder need Considerable repair to their boil
ers and machinery. they all are or can readily be
Pffe This constitutes a MI