Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1875-12-13


of values recognized throughout the CIV 4
ilized world. While we use currency /
not equivalent to this standard-the +
worlds recognized standard-specie be-
comes a commodity like the products of !
the soil. the surplus seeking market
wherever there is demand for 1t. Un-
der our present system we should want
none. nor should we have any, were it
not that the customs dues must be paid |
in coin. and because of the pledge to pay
the interest of the public debt in coin.
The Weld of the precious metals would
flow out for the purchase of foreign pro-
auctions and leave the United States
"hewers of wood and drawers of water"
because of wiser legislation on the sub
iect of finance by the nations with whom
we have dealings. 1t will be a source
of great qualification to me to be able to
approve any measure of Congress look
| ing effectually toward securing resump-
| ton.
There are few measures which seem
] to me important insthis connection, and
which | commend to your earnest con-
sideration. First, a repeal of so much Of
the legal-tender act as makes these notes
receivable for debts contracted after
date to be fixed in the act Itself-say
not later than the LIST of January, 1877.
We should then have quotations at real
values, not fictitious ones; gold would
no longer be at a premium, but currency
at discount a healthy reaction would
set in at once, and with it desire to
make the currency equal to what it pnr-
ports to be,
Second, that the secretary of the
treasury be authorized to redeem say
not to exceed two million dollars month
ly of legal-tender notes by issuing in
their stead long bond bearing interest
at the rate of $50 per cent per annum,
of denominations ranging from $50 to
$1,000 each This would in time reduce
the legal-tender notes to volume that
could be kept ahoat without demanding
redemption in large sums suddenly.
, Third, that additional power be given
to the secretary eff the treasury to accu-
mulate gold for final redemption, either
by increasing the revenue. curtailing ex-
penses, or both. 1t is preferable to do
both, and | recommend that a reduction
of expenses be made wherever it can be
done without impairing government OBJ
: legations or Gripping the due execution
It thereof One measure for increasing the
o revenue, is the restoration of the duty
OH tea and coffee. These duties would
add, probably. SIS, 100000 to the pres
: ent amount received from imports, and
u would in no way increase the prices
o paid for those articles by the consumer
. These articles are the products of coun
&c tries collecting their revenue from thei
% exports, and as we, the largest consum
T. ers. reduce the duties, they proportion
Il ately increase them. With this addition
Ie5 to the revenue, many duties now collect
:, ed, and which give but an insignifcan
II return for the cost of collecting, nigh
a be RENTED, and to the direct advantag
y of consumers at home. would mentio
!, ~ as those articles, those which enter int
y manufactures of all sorts
u | will suggest or mention anothe
" subject bearing upon the problem of no
. to enable the secretary of the treasur
IN to accumulate balances. 1t is to devils
some better method Of verifying claim
OF against the government than at preser
1g exists through the court of claims, e
r. pecially those claims growing out of tt
=, late war Nothing is more certain tina
that a very large percentage of tt
gu amounts passed and paid are eth
nd wholly fraudulent or are far in exec
lrt of the real losses sustained.
ly, The President, in speaking of the n
Wy represents that it is in very gO'
to condition, and the only clue he gives
ties the late activity in relation to putin
er' it in fighting trim, is that:
- The-naYy has been brought to I'll
~ condition by judicious and practic
~ application of what could be spared frC
+bs the current appropriations of the Ia
=. few years and from that made to me
- the possible emergency of two years az
- 1t has been done quietly, without PR
- lamation or display, anu, though it b
- necessarily straitened the department
~ its ordinary expenditure. and. as far
81 the iron-clads are concerned, has add
CO.. nothing to the accruing force of the !
in Wy. yet the result is not less satisfac
oil ry, because it is to be found in q gr
~ increase of real rather than appart
- force.
- THE INDIANS.
id The method for the treatment of
to Indians adopted at the beginning of &
ntly first term has been steadily pursued. q
dis with satisfactory and encouraging resu
I to 1t has been productive of evident
ans provement in the condition of the "a
sub. and will be continued with only 81
Con- notifications as further experience n
less indicate to be necessary. g
not THE MORMON QUESTION.
pnic In nearly every annual message t
enI IS | have had the honor of transmitting
W, WIN Congress have called attention to
anomalous, not to say scandalous, col
III: :ne ton of affairs existing in the territ
men of Utah. and have asked for definite
ecs islatiOn to correct it. That polygs