The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1875-12-10

1ue ylelu OF precious HleIdlo WOulu HOW
out for he purchase of foreign produc-
tions, and leave the United States hew-
ers of wood and drawers of water, be-
cause of wiser legislation on the subject
of finance by the nations with whom we
have dealings. lam not prepared TO say
that | can suggest the best legislation to
secure the end most heartily desired. It
viii be source OF great qualification to
me to be able to approve any measure of
Congress locking effectively toward Sc
curing resumption. Unlimited initiation
would probably bring about specie pay
ments more speedily than any legislation
looking 10 the redemption of legal tend
ers in coin, but it would be at tue eX-
pense of honor The legal tenders would
have no value beyond settling the pres
ent liabilities, or, properly speaking, re
pudiating them. They would buy moth
ing after the debts wer. all settled.
There are few measures which seem TO
NE important in this connection. and
which cOrunI..u'i tp yuur earnest con
sideration. \ repeal of - much of the
legal tender acts make these notes re-
ceivable ordebts contracted after a date
to be fixed in the act itself, say not later
taan the first of January, 1877. We
should then have quotation at real val
nes, not ficticious cnes. Gold would no
longer be at premium, but currency at
a discount; a healthy reaction would set
in at once, and, with it, desire to make
the currency equal to what its purports
to be. The merchants, manufacturers
and tradesmen OF every calling could do
business OH II fair margin OF profit. The
money received having an unvarying
value, laborers, and all classes who work
for stipulated pay or salary, would re
ceive more nearly their income. because
extra profits would no longer be charged
by capitalists to compensate for the risk
of a downward tiuctuatiOn III the value
of the currency
Secoud-That the Secretary of tie
Treasury be authorized TO redeem, say
not to exceed g, 900, 900 monthly, of le-
gal tender notes, by issuing i'll their stead
long bonds bearing interest at the rate
of % 100 per cent. per annuin- OF de
nominations ranging from $50 to 81, 900
each. This would in time reduce the
legal tender notes to volume that could
be kept alioat without demanding re-
demptiOn i'm large sums suddenly.
Third-Tiat additional power BE- Civ
Ell to the Secretary of the Treasury to
accumulate gold for the final redemp-
ton of the curre.IUy 7, increasing revenue,
or curtailng expenses, or boths 1t Is
preferable to do both. and recommend
that a reduction of expenditures be
made, wherever it can be done without
impairingGovernment obligations or Grip
pling the due execution thereof. One
measure for increasing the revenue, the
only one | think of, is the restoration of
duty on tea and coffee. These duties
would add probably SlS, 600, 900 to the
present amount received for imports, and
would in no way increase the prices paid
for those articles by the CONSUMERS
These articles are the products of coun-
tries collecting revenue from exports, and
as we, the largest consumers, reduce the
duties, they propOrtiond!ly greatly i'll
crease them With this addition to the rev
enue, many duties now collected, and
which give but an insignificant return
for the cost of collection, might be re-
mitted, and to the direct advantage of
the consumers at home. | would men
ton those articles which enter into naE-
ufactures of all sorts. ali duties paid
upon such articles go directly to tle cost
of the articles when manufactured here,
and must be paid for by tine consumers.
The duties not only come from the con-
sumers at home, but act as protection
to foreign manufacturers Of the same
completed articles in our own and dis
tant markets. | will suggest, or meD-
ton, another subject bearing upon the
problem of how to enable the Secretary
of the Treasury to accumulate balances.
1t is to devise some better method of
verifying the claims against the GOvern-
ment than at present exists through the
court of claims, especially those claims
growing out OF ths late war. Nothing
is more certain than that IA large per
centage of the amounts passed aud paid,
are part or wholly fraudulent, or are far
in excess of the real losses sustained.-
The large amonnt Of losses proven on
good testimony, according to existing
laws, by afiidavits Of fictitious or unscru-
puIous persons, to lave been sustained
on small farms and plantations, are not
only for beyond tine possible yield of
those places for any one year. but as ey-
cry one knows, WHO has experience In
tiliing the soil, and who has visited the
scenes of these spOilations, are in many
instances Inofe tiian the individual
claimants were ever worth, including
their personal property and real estate.
The report Of the Attorney General,
which will be submitted TO Congress az
an early day, will contain Il detailed his
tory of awards made, and of claims pend
ing OF the class here referred tG,
THE ARMY.
The report OF the Secretary of War,
accompanying this message, gives a de
tailed account of army operations for the
year just passed, expenses for mainte
nance. etc, with Recommendations for
legislation, to which respectfully invite
your attention. To some of these | in
vite special attention:
First. The necessity of making 5000,
900 of the appropriation Ior tins subsist
ence department, available before the
beginning of the fiscal year. Without
this the troOas at points distant from
supplies, must either go without food, OT
the existing laws must be violated. 1t is
not attended with cost TO the Treasury
Second. His recOnIEeEd:tiCn of an
enactment of system of aHnuities for
families OF decreased officers, by vOlun-
tary deductions from ths monthly pay of
officers. This again Is not attended with
burden upon the Treasury, and would
tor the future relieve much dis;resswiIieh
every old army officer has witnessed in
the past, of officers dying suddenly or
being killed, leaving families without
even the means of reaching their friends,
If fortunate enough TO have friends to
aid them.
Third. The repeal of the law abolish |
ing mileage and a return 10 the old sys-
TEN.
Fourth. The trial with tOrp1does un- |
der the Corps of Engineers and an ap- /
for the same. Should war /
ever occrr between the United States |
and any maritime power tOrpedoes viii \
be among, if not the most siis cfive and
cheapest auxiliary for the defense Of bar
bors, and also ia aggressive operations,
that we can have. HanCa, il IS adyisa-
ble to learn by experiment their best
construction and application, - wel! as
effect.
Fifth. y permanent organization for
the signal service corps. This service las
now become a necessity Of peace IS well
aS war. under the ARRANGEMENT made by
Tie present able Infringement.
Sixth. : rome ss't. o. t!.c appropriation
ior compiling the official records u the
war, etc.
TIE CONDITION OF OUR NAtT
1t this time is a subject )f satisfaction
& does not contain. it is trI-. any Of the
powerful cruising iron clads which make
. much tie maritime strength OF some
n her afiotts buk pe,ti,a. - .I,,. .-,.,,t !