The Albany register. [volume] (Albany, Or.) 1868-18??, 1875-12-17

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States iieWefs OF wood and drawers Of wa
ter. because OF wiser legislation ON the
subject of finance by the nations with whom
we haye dealings.
/ am not prepared to say that etil stig-
gest the best legislation to secure the end
must heartily commended. 1t will be a
source OF great qualification to me TO be
able to approve any measure of Congress
looking effectively toward early resumption
Unlimited initiation would probably bring
about specie payments, more speedily than
any legislation looking tC tile redemption
of securities iii coin but it would be at the
expense of honor, and legal tenders wonld
biities, or. properly speaking. repudiating
them. They would buy nothing after the
debts were all settled.
OTHER IMPORTANT FINANCIAL MEASURES.
There are few other measures which
seems to me important in this connection,
and which commend to your earnest con-
siteration
First-The repeal of so much OF the legal
tender acts as to make these notes reeciva-
Bile for debts contracted after date to be
fixed in the act itself, say not later than the
have quotations ut real values, not fictitious.
Then gold would not only be at premium.
but currency at a discount. A healthy
reaction would set in ut once. and with it a
desire to make the currency equal to What
it pnrports to be. The manufacturers and
taradesmen, and every calling could do
business on Il fair margin at profit. The
money to be received having an unvarying
value, laborers, and all classes, who work
tor stipulated pay, or salary, would receive
more for their income, because extra profits
would no longer be charged by the mer-
chant to compensate Tor the risk of n down.
ward fluctuation in tile value OF the curren-
cy, Second-That the Secretary of the
Treasury be instructed to redeem, say, not
exceeding So, 600, 600 monthly of legal ten
der notes, by issuing instead long bond
bearing Interest at 3.65-l00 per cent. per
annum. OF denominations ranging from So
TO ST 600 each. This would reduce legal
tenders TO a volume that could be Kept
afioaG without demanding redemption in
large sums suddenly. Tllird-That addi
tional power be given to the Secretary of
the Treasury to accumulate gold for final
redemption, either by increasing tire Ieve-
nue. eurtailing expenses, or both. 1t is
preferable to do both, and | recommend
that reduction of expenditure be made
wherever it can without imparing govern
ment obligations or crippling the due exc
cution thereof.
TEA AND COFFEE.
One measure for increasing the revenue,
and the only one can think of, is the res
toration of the duty on tea and coffee.
These duties would add probably 1S,000,-
600 to present amount ntreeeiyed for imports,
and would in no way increase the prices
paid for these articles by the consumers
These articles are the products of countries
collecting revenue from exports, aud as we,
the last consumers, decrease the duties. we
proportionally increase the consumption.
DUTIES on ARTICLES Used IN MANUFAC-
TUREs.
With this addition to the revenue, many
Duties now collected, and which give but
an insignificant return for collecting, might
be remitted to the direct advantage OF con-
sumers at home. / would mention those
articles which enter into manufactures of
all sorts. All duties paid upon such artil
eles when manufactured here, must be
paid by consumers. The duties not only
come from consumers at home, but act as
a protection to foreign manufacturers of
the same or competing articles in our own
and distant markets.
PROTECTION AGAINST FRAUDULENT CLAIMS.
l suggest or mention another subject
bearing upon the question of how to enable
the Secretary OF the Treasury to accumulate
balances. 1t is to devise some better meth
OIL of verifying claims against the govern
ment than at present exists. OF claims
growing out of the late war, nothing is
more certain than large per centage of
the amounts passed and paid are partly or
wholly fraudulent, or are far in excess of
the real losses sustained. The large
amount of losses proven OH good testimony
according to existing laws. but by affitlayits
of fictitious or unscrupHlous persons, to
have been sustained on small farms and
plantations. are not only far beyond the
possible yield of those places for any one
year, but as every one knows who has ex-
perience in tilling the soil, and who has
visited the scenes of these spoilations. are
in
ever worth, including their personal and
real estate. The report of the Attorney
General. which will be submitted to Con-
gress at an early day, will contain detail
ed history of the awards made of claims
pending of the class here reported.
REPORT OF SECRETARY OF WAR.
The report of tile Secretary of War ac-
companying this message gives a detailed
account OF army operations for the year
just passed, the expenses for maintenance,
etc.. with Recommendation for legislation,
to which respectfully invite your atten-
ton. TO some of these aud of the first
importance. is the necessity of making nm
appropriation of $500, ,000 for the Subsist-
cnce Departments available before the be-
provision troops at points distant from Sup
ply points must either go without food or
the existing law must be violated. This is
not attended with cost to the Treasury.
Second His recommendation for the
enactment of a system OF annuities for
families of deceased officers by voluntary
deductions from the monthly pay of officers.
This again is not attended with bnrtlen
upon the Treasury, and would for the
future relieve much distress. which every
old army officer has witnessed in the past
in cases of the officers dying suddenly or
being killed, leaving their families without
even the means of reaching their friends. ii
fortunate enough to have friends to aid
them. Third. The repeal of the law abol-
ishitg mileage and return to the old sys-
TEN. Fourth. The trial with torpetloes
under the corps of engineers and an sapnro-
priation for the same. Should war ever
occur between the United States and any
maritime power, torpedoes will be among,
T not the effective, cheapest auxiliary for
defense OF liarbors and also for aggressive
operations that we can have. Hence it is
advisable to learn by experiments their best
and DUPLICATION as well as their
effect. Fifth. Permanent organization or
the signal service corps. This service has
now become necessity Of peace as well as
war, uiader advancement made by present
able management. Sixth. Renewal Of the
appropriation for completing the official
records of the war, etc.
THE CONDITION or ouR NAVY
AT this time Ii subject OF satisfaction g