The daily gazette., 1875-01-06

| pnHi, ourlng Ine next year, by an ex-
hibition OF the products and resources
OF the country. .a5-, t'-'-'.9'1'- -.
The cooperation of every State in
| the Union is desired by those having
the charge of the celebration, SO as to
mako 1t worthy of the American
Republic. The Centennial Commis:
sion, through the General Director.
Hon. A. st, Coshorn, desires that q
state Board disappointed to cooperate
with the National Board Of Comnis.
sioners as the most effectual means of
securing the desired end, The ap-
polntment Of State Board to repre-.
| sent this State and arrange for the .pro
per exhibition of its products will
doubtless aid such of our citizens as
desire to participate In the celebration
by exhibiting their articles of manu-.
facture or other productions. Gentle.
men la this State would doubtless
volunteer TO act as members of State
commission, and / therefore recon-
mend that authority be given for the
| appointment of such hoard.
''F NATIONAL AFFAIRS.
4 In a former part of this message /
adverted to the continued depression
of business In the country, and the un-
favorable influence it was beinning to
exert upon the prosperity of this State.
so Intimate are the relations Of all the
States OF the Union, that the prosperity
OF each is determined, not exclusively
by the. industry and frugality of its
own citizens, or the wise economy Of
its own local government, but also In
a very sensible degree by every cause
which affects tine welfare of any or of
all the others. The people Of Delaware
therefore, no less than the people of
the rest OF the States, have an interest
in the prosperity of every part of the
common country-an interest based
not alone on sentiment or sympathy,
but arising, in part at least, from con.
alterations OF advantage to themselves.
| When therefore we see the industries
Of the country paralyzed, its commerce
declining, its manufacturing and me-
chanical enterprises depressed and Ian
gushing, agricultural pursuits unrem-
lucrative, and labor in many places
unable to command employment. it is
but natural that in common with the
people of the whole country we should
desire to see clear ascertainment and
removal Of the causes which have pro
duced such results. b. -'
1t cannot be doubted that whatever
else may have contributed to bring
about 3. the pi esent derangemant and
| embarrassment in the business of the
country, that,the policy pursued by
| Congress and the Federal Administra-
tion in the management of public
affairs has had its full share in produc-
1 fs Ia l,a, .A,af
ly aflicting the people of every part OF
the country.
Without adyerting to the extrava.
giant expenditures of the public money
| which has marked the history of the
country for the last, eight or ten years,
when economy was demanded in order
to recuperste from the exhaustion pro-
duced by four years war, as well as
to provide for the payment Of the in
terest on the public debt, which that
war had entailed upon the country,
the financial policy Of the government
has been most unfortunate, not to say
unwise and pernicious. The exigen'
cies of the war were made the excuse
and justification for the issue by the
government of a large amount Of pa
per to circulate as currency, and for
the redemption of which the faith of
the government was most solemnly
pledged. A part of the currency thus
Issued was declared to be legal ten
der and made receivable as such in all
the ordinary transactions between pri.
vate parties. Even admitting that the
government, under the pressure of an
exhaustive war, was justified in resort
ing to exceptional measures to sustain
its credit aud MAINTAIN its armies in
the field, still it cannot be doubted
that its obvious duty, upon the ter
mination of the war, was to observe
its pledges and make provision for the
redemption of the paper money which
it had issued and put in circulation.
Congress recognized this obligation,
and soon after the close of the war de-
clared by resolution its purpose to do
SO. 'i
Nearly teu years have elapsed since
the determination of hostilities, and
III yet the pledge Of the Government is
/ unfuiflled, and a deprecated paper
, currency is continued as the medium
A Of exchange in all business Of public
or private nature, except in the pay
I meut Of duties on imposts and interest
on the public debt. While in almost
every civilized country on the face of
the earth exchanges are made in gold
. 7 or its equivalent, In the United States
1 the universally recognized measure Of
u values IS banished from the ordinary
e. transactions Of life and made az aTt.-
. Gle of merchandise and traffic. need
: not speak of the effect of this substi-
I tuition of deprecated currency for
! tcoin upon che prosperity of the coun-
d try. 1t has been witnessed in the
e fluctuations of business, in its occa-
IS sional expansions and contractions, in
the insolvencies . and bankruptcies
! which have followed, and tho unset
!. tied, uncertain and demoralized condi
n ton of affairs in every part of the
+ country. The present prostration Of
- business, and the consequent embar
rassment resulting therefrem, is, in nj
small degree, traceable to the failure
nj of the Government to restore the cur
st rency to a fixed value, equal TO th'