The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-12-16
THE PRESIDENTS MESSAGE.

much as we would Ike to. It Is an adj
mirable document and characterized by
the same clearness, straight forwardness
aud simplicity which the public have
come to expect from Gen. Grant when
ever he speaks. After & congratulatory
review of the progress Of the Republic
from it's feeble inception to its centennial
year he refers to our foreign relations
which, in general, are On a satisfactory
and friendly footing. He dwelis at con-
siderable length upon the situation of
affairs in Cuba, and while conscious
that the instruction in Cuba has shown
strength and endurance, which make it
ut least doubtful whether it Is in the pow
er of Spain to subdre it, seems unques-
tionable that no such civil organization
exists, which may be recognized as an
independent Government, capable of per-
forming its obligations, and entitled to
be treated as one of the powers of the
EARTH He therefore think a recogni-
ton Of its independence impractical
bic and indefensible.' Nor does he re-
commend recognition Of belligerent
rights, arguing at length ''that while the
accordance OF belfigerent rights to the
insurgents at Cnba might give them Il
home and inducement to protract the
struggle, it would be but a delusive
hope, and would not remove the evils
which this Government and its people
are experiencing, but would draw the
United States into complications which
ed much to avoid.
He suggests mediation, ii mediation
is desired, but otherwise to let matters
take their own course. This pacific con-
clusiOn Of the President Will be a serious
damper on the prophets who have posi-
lively assured the public that his message
would breath out fire and slaughter.
He gives an epitome of the work of
each Department. lDr the past year, and
strongly urges resumption Of specie pay
ments as soon as January 1879 or earlier
if possible He says:
sit viii be "a source OF great gratiIica-
ton to me to be able to approve any
measure of Congress looking effectively
toward securing resumption. Unlimited
imitation would probably bring about
specie payments more speedily than
any Legislation looking t. the redemp
ton of the legal tenders III coin, but it
would be at the expense of honor. The
LEGAL tenders would have no value beyond
settling present liabilities, or properly
speaking, repudiating them. They
would buy nothing after the debts were
al settled.
There are few measures which seem
to me important in this connection and
which [ commend to your earnest consid
Grafton. A repeal of SO much of the
Legal Tender act as makes these notes
receivable for debts contracted after a
date to be fixed III itself, say not later
thar the list Of January, 1877. We
should then have a quotation at real
values, not fictitious ones. Gold would
no longer be ut premium, but currency
at discount. A healthy reaction would
set IN ct once and with it a desire to
make the currency equal to what il pur-
ports 30 be. The merchants, manufac-
turers, and tradesmen, and every calling
could do business on fair margin of
profit, the money to be received having
an unyarying value. Laborers and all
classes who work for stipulated pay or
salary, would receive more for their in
come, because extra profits would no
longer be charged by the capitalists to
compensate for the risk Of a downward
iiuctuation in the value OF the currency.
Second, that the Secretary of the
Treasury be authorized to redeem say
not TO exceed 8, 600, 900 monthly of le-
gal-tender notes, by issuing in their
stead long bond bearing interest at the
rate of 3 65.100 per cent per annum, of
denominations ranging from $50 to 81, 900
each. This would, In time, reduce the
legal-tender notes to a volume that could
be kept afioat without demanding re-
demption in large sums suddenly.
Third. That additional power be
given to the Secretary of the Treasury to
accumulate gold for final redemption
either by increasing the revenue, curtail-
ing expenses, or both. 1t Is preferable
10 10 apl T N
reduction OF expenditures be made
wherever it can be done without impair
ing the Government obligations or
crippiing the due execution thereof"
lie favors the restoration of the duty
on tea and coffee, holding exactly the
same position taken by the larger and
more enlightened portion of the press.
He says:
Zone measure for increasing the reve-
me, and the only one / think of, is the
restoration of the duty on tea and coffee.
These duties would add probably S1S,-
coo, 900 to the present amount received
for 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 reve-
nue. from exports, and as We are the
largest Consumers, to reduce the duties
with this addition to the revenue, many
duties now collected, and which give but
an insignificant return for the cost of
collection, might be remitted, and to di-
rect advantage of consumers at home. I
would mention those articles which enter
into manufactures OF all sorts. All duty
paid upon such articles when niRnufac-
tured here. must be paid for by the
t.0nStumeFS. The duties not only come
from the consumers Mt home, but act as
a protection to foreign manufacturers OF
the same completed articles in our own
and distant markets.
He reiterates his Indian policy claim
ing that "the method for the treatment
of the Indians, adopted at the beginning
of my first term, has been steadily pur-
sued, aud with satisfactory and encour-
aging results. It has been productive
OF evident Improvement IN the condition
OF tlat race, and viii be continued, with
only such notifications as further
experience may indicate to be neces-
sary."
On the subject OF the rapid growth Of
Intaxed church property he expressed
himself freely:
SIN connection with this important
question, / would also call Your atten-
ton TO the Importance OF correcting an
evil, that il permitted 10 continue, will
probably lead to great trouble in our
land before the close of the nineteenth
century. 1t Is the accumulation of vast
amounts Of untaxed church property.
In 1850 [ believe the church property
of the United States which paid no tax,
municipal or State, amounted to about
$50, 600, 900. In 1860 the amount had
doubled ; in 1875 It is about 8, 900, Co.,
600. BY 1900. without check, it is safe