Knoxville Whig and chronicle. [volume] (Knoxville, Tenn.) 1875-1882, 1875-12-15

ABOUT specie resumption on anu alIer
the first day of January, 1879, at the
farthest. IL would be "A great blessing
if this could be cousunmated, even
at an earlier day. Nothing seems to
me more cert lin than that "A fuli,
healthy AID permanent reaction can
not take place in favor Of the indus
tries and financial welfare of the cuuu-
try, until we return to measure of
values recognized throughout he civ
iliZpd world.
While we use currency not ,guiyu-
lent to this standard, the wurius re-
cOgni2ed standard, specie, becomes n
commodity Ike products of the soil,
the surplus seeking "A market wherever
there is a demand for It. Under our
present system we should want none,
nor would we have any were it not
that customs due are paid in coin, and
because Of our pledges TO pay interest
on the public debt in coin, the yield
of precious metals would flow out for
the purchasers of foreign productions,
ami leave the United States hewCrs Of
wood and drawers of water, bee iuse Of
wiser legislation on the subject of
finance by nations with whom we
have dealings.
am not prepared to say that | can
suggest the best legislation to secure
! the end most heartily recommended.
| 1t will be a source of great gralilica-
! ton to me e. be able to approve any
measure of Congress looking etiectual
! ~ toward securing resumption.
Unlimited imitation would probably
| bring about specie payments more
speedily than any legislation looking
to the redemption of legal tenders in
! coin, but il would be at the eX, ense of
| honor The legal tenders would have
no value beyond settling our present
! liabilities, or, properly speaking, re-
! pudiating them. They would buy
nothing after all debts were settled.
There are "a few measures which
! seem 10 me important in this conuec-
! ton, and which | commend to your
earnest consideration. A repeal of SO
much lega! tender acts as makes these
rates receivable for debts contracted
after a certain date, to be fixed in the
act itself, say not later than the first
Of January, 1877, hearty reaction
would set in at once, aud with it de-
sire to make the currency equal to
what it purports to be. First, he
Celebrates the good effects which would
follow this suggestion. Second, that
the Secretary of the Treasury be au-
thnrized to redeem say not to exceed
two million dollars monthly of legal
tender notes, by issuing ia their stead
q long bong bearing 3,65 per cent.
of denominations ranging from fifty
to one thousand dollars each. Third,
that additional power be given the
Secretary of the Treasury to accumu-
late gold for the final redemption
either by increasing the revenue or
decreasing expenses, or both. 1t is
preferable to do both. The restoration
of duty on tea and coffee is also sug-
gested. Also a reduction on certain
articles, such as hardly pay for the cost
of collection, and such as enter into
manufactures.
ABOUT CLAIMS.
He suggests that some better means
be found for bringing claims against
the government than through a court
OF claims, especially those growing out
of the late war. They are, in nearly
every instance, exorbitant. Discussing
the report of the Secretary of War, he
invites special attention to making
100000 of the subsistence appropria-
ton available before the beginning OF
the next fiscal year, the repeal of the
law abolishing mileage and return tC
the old system of appropriation for tor
pedo trials by the corps of engineers
and permanent organization for the
signal corps.
THE NAVY.
:, The condition of our navy at this
time, he says, is a source of satisfac'
ton. Reviewing details of defects as
compared with other nations, he says
But neither our continental situation
or our foreign policy demand that we
should have large number of these
crushing, powerful iron-clads, while
our position and the nature of our
ports combine to make those of other
nations little dangerous to US, under
any circumstances. We have fifty
war ships, including fifteen iron-clads
, now in hand on the Atlantic coast.
POSTAL SERVICE.
The postal service is entirely salts
factory. The President suggests the
power of exclusion of merchandise
from the mails.
INDIAN AFFAIRS.
The method of treating with the In
dams, adopted at the beginning Of my
: first term, has been steadily pursued
with satisfactory and encouraging re-
! suits. 1t has been productive of evil
dent improvement in the condition OF
that race, and will be continued with
such modification as experience may
indicate to be necessary. He says OF
, the
BUREAU OF AGRICULTURE,
1t has accomplished much in dissent
mating useful knowledge to the agri-
cultuTalist, and also in introducing
new aud useful productions adapted to
our climate, and is worthy of the con-
tinued encouragement Of the Govern
meut.
! He characterizes the condition OF
AFFAIRS IN UTAH
As scandalOus, as an institution OF po
lygamy should be banished from
the land.
As this will be the last message
shall have the honor of submitting to
q ! Congress before my successor is chosen
q viii repeat or recapltulate the ques-
! lions, which l deem Of vital impor'
3 lance, which may lie legislatpd upon
/ and settled at this session.
! First, that the States shall be requir'
/ ed to afford the opportunity of good
= common school education to every
f child within their limits.
Sepond no apetarian tRneLs shall