The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1875-12-16

4 Saa1ite Ijaxn No{liine seems more
srfsfA tRan hxt atfdiE, healthy and
ermaHent reaction cannot take place
n favor OF the industries and financial
Veifafe of the country until we return
o = measure Of values, recognized
the civilized world. While
W use q currency mot equivalent to
his standard, the worlds recognized
specie, becomes a commodi-
>, like the products of the soil, the
Iurplus seeking a market wereyer |
here is q demand for it. Under eur |
present system we should want none,
nor would we have any were it not
hat customs dues must be paid in coin
aud because OF the pledge t0 pxv -tne
interest Of the y public debt in coin.
The yield OF precious metals weuld
low out for the purchase of foreign
and leave the United
States heWers of wood and drawers of
water. Because Of Q wiser legislation
en the subject of finance, by the, nR-
fious with whom we have dealinxs. II
sm not prepared to say that 1 can sug-d
gest the best legislation TO SECURE the
end most heartily recommended. ,,,,
! 1t Wil be. . source Of great gratifica
ton to meitO be able TO approve any
measure Of Congress looking effective
ly toward securing resumption. Un-
limited imitation would probably bring
abOdt specie payments more speedily
titan any Legislation looking TO the.
REDEEM ptioH or legal tenders in coin,
but 1t would be at the expenseEof hon..
or. Is Fhe legal tenders would have NO
value beyond settling the present liai
bihti1s, or property speaking, repudiat-
after the debts were all settled. There
are few measures which seem to me
important in this connection, and
which I commend to your earnest con-
sideration. A repeal of so much OF
the legal tender acts as make tho SO
noIes receivable for debts contracted
after a date TO he fixed in the act itself
say not later than the lst OF January,
1877. We should then have quotations.
at real values, not fictitious ones. Gold
would no longer be alta premium, ibui
currency at adiscounts Ahealthyi re
action would set in at once, ~ and with,
q
itpurports to he. nillIi7 ali 3aGy va
Ta The merchants, manufacturers and
,tradesmen- Of every calling could do
business on fair margin of profit, the
money to be received having AN un-
varying value. The labOrers and all
classes who work for stipulated pay or
salary would receive more income. be-
rause' extra profits would no longer be
charged BY the capitalists to compen-
sase FOR tile risk SeF u downward fiuctu-
aeiOn in the value of the currency
sHecoad--that the iSecretary of the
Treasury be auth0riked to redeem. say,
iaOs to exceed s.. .O08. 900 monthly of
legal tender notes by issuing in their
stead long bonds bearing Interest at
the rate or BIS per cent, from $50 to
81. 900 each. This would in time re-
duce the legal tender notes to volume
that would be Kept afloat' without de-
n,anding redemption In large sums
isuddenly: Thffdd dthat additional pow
'ef be given 20 the Secretary Of the
Treasury to aeeumulate gold for final
fedemption Of the currency, increasing
the revenue or curtailing the expenses
or both.y is preferable to do both,
and recommend that . reduction of
the expenditures be made wherever il
can lie done Without impairing the
government obligations or crippling
the due execution thereof. -
One measure for Increasing the reve-
nue. and the only one / think Of Is the
restoration of the duty on tea and cofIi
fee. These duties would add probably
$11 ,OO0, 600 to the present amount rel
cefveti for imports, and would in DOs
way increase the prices paid for these
cles are the products of countries col.
leetipc revenue from, exports. and a.
we, the largest consumers, reduce, the
duties they prOpOrCiOnately increase
them with this addition to the revenue,
Many duties now collected and which
give but an insignificant return for the
cost of collectiOnmigh be remitteI and
to the direct advantage to cOnsnInefs
at home. would mention those arti-
Giles which enter into the manufactures
of all sorts. All duty paid upon such
articles goes directly to the cost Of arti.i-
cles when manufactured here, and
must he paid for by the consumers
The duties not only come from the
consumers at home but act as prOtec-
tiOn to foreign manufacturers of the
same articles in our own aud distant
markets, .t. f-.-r ne; .f..,..-:f. -
Will suggest or mention another
subject bearing. upon the problem OF
how to enable the Secretary Of the
Treasury to accumulate balances II
is to devise some better method of YER
ffvIHg claims against the government
than at present exists through the
Court of Claims; especially those
Chains growing out of the late war
Nothing is more certain than that y
large percentage of the amount passed
and paid are part or wholly fraudulent,
or are far in excess of the real losses
sustained. The large amount of losses
proven on good testimony, according
to existing laws by afffdavits of ficti-
tiOus or unscrupulOus persons to have
been sustained on small farms and
are not only far beyond |
The possible yield of those places for
any one year, but as every one knows, |
who has as,expefience in tilling the soil,
and who has visited the scenes. OF
these spoliations; are, in many instant
,es, more than the individual claimants
were worth, including their personal
and real estate. oI :, =. ---..,s al
+, The report Of the Attorney Gener-,I
Al, which will be submitted to Congress
1t an early day, will contain detailed |
history of awards made and of claims |
pending of the class here referred to.
The report Of the Secretary OF War, |
this message, gives a |
detailed account of army operations |
sor the year just passed, the expense OF |
ts maintenance, etc., with recon-
for legislation, to which 1 |
respectfully invite your attention. T"
'nmeof these 1 invite special catten-
ion:. s..sa gsp "a t,t -
tIrst-The necessity of making $780, |
10 of the appropriation for the, sub
istence department. available before
he beginning OF the next fiscal Year.
Without this provision the troops at +
,oints distant from the supply Of pro-
luction must either go without food or
'xisting laws must he violated IL is 4
lof attended with cost to the Treasury. A.
Second-His Recommendation of 40 Il
Of system of annuities fOrlIs .
antilles OF deceased officers by volun-
ary deductions from the monthly paytI,,
Z officers. This again is not attended
nth burdens upon the Treasury, and ,
,ould for the future relieve much dis