, 1877-12-04

teFtial tfado and foreign commerce may 10
brought into harmony Will, tho systcm of ex-
changes which is based upon tho precious met
ais as the intrinsic money Of tug w9r!d. In the
md conlpasscd a. speedily md as securely ~
the resources Ut tho people and tho wadonl Of
u cir Government can accomplish, there Is
n much greater degree Of unantnty thau upon
the specific mcaaurca Which Will bring tue coun-
tryto .-.......
or tho rapfd[tY OF the steps by which It cnn bo
iiGe1ato examination, whicll hare ieIt i 10 Ic
lnorc cor,llrtncsi in the opinion which expressed
In accepting tho nomination for The Presidency,
and again upon my inauguration, that
TIE PoLicr or nEsUMrTioN
should be pursued bY every suitable means. and
that no legislation woulf be wise that sllnutd
uIsparaEc tho Importance or rctarl the attnfn.
certainly no right. to question tho sincerity or
tho Integrity Of opposing opfufons, and would
neither conceal nor unlcrvalue tlo con.
siderable difficulties, a'nl cren occasional
oi Tic uution toward this primary condition to
It's general aud permanent prosperity. must,
huwcycr, a1hcre to my most earnest conviction
that my wavcr!ug Ii, purpose, or u'Astea,ltness
In methods, SO far from avoiding Ct reducing
the Inconvenience inscsmrAhle from the tran
sttion frum IN irrcdeeme1sc 10 a relcemable
paper currenrJ, would only tend To
1acnEAsKp AND fRoLoSoEp pls7unnAKc1
fn vnues, and, unless relieved, must end In &c.
rious disorder, dfsllon1r. md disaster In the
financial niFAirs Of the Government and OF the
| people. The tnisctlcfs Which ! apprctlcnd and
urgently deprccatc arc confined to no elaes Of
the pcpnr, indeed, hut seem to mo most ccrtai',-
ly to threaten tho industrious tnasses, whether
their occupations Rrc Of skilled or common
labor, To them, u sec!ns to me. ls OF prime
| innnrtauee TINT their latiUr Should be c0mpen-
satc,i in muney which Is in Itself fixed ID ex-
charHcnbtc value, by being
>A'"t' 1nMEyocanlr MEAsonzp
by tho labor necessary TO rs production. This
Is sought ior and can only b. gained by the r.
sumption Of specie payment. The rich, tho
speculative. tho opcratlnR, tic moncy.deang
Glasses, may mt alWays feel the mIsehlcfs of,
or NAV tinu ensuul profits In, variable currcn-
". but tbs mistortunca. Of such q currency to
those who arc raid salaries Or wages arc !nev!t-
| able Rrd re'nNltless. ......
Closely connected with this general subject OF
the resumption Of srccic payments, Ia one Of
subordinate but still OF grave Importance. Il
mean. tho adjustment Of our coinage system
" THE RENEWAL OF TIE SILVER DOLLAR,
rs MI clement in our specie scurrcucy, endowed
| bv legislation with tho quality oG lcgnl-tender
10 greater or less extent. As there Is no doubt
| OF tic power OF Congress, under the CoEs.ttu-
Of, und ns tAla power covers the wtnlc range oi
| authority applicable to the metal, the rated
vaiuo and the lcgAl-tcndcr quality which shall
he nuptctl for the coinage, tho considerations
which shoala ii'unee or Or. aaseoafsEs lartsa,ar
| measure cohhee1ca "4'h tne co'"hne pelouk
clearly TO
atld u public expedLet,ry: Without lntruang
upon ti's nroviee o. sg.sat'on u . .Ie .sa, .is,1
| Importance, In the actual condition OF our af-
fairs, % to present at ogtaston fur tho exercise
Ct tl,o duty imposca 1y ts Constitution "n tl'o
rfes'dcns,o VI fesohtueuns 1o.nc vs. 9 i,.Hn
nrces.arr ~ mn, ~ exps.list. Iodnr the t opintuu.
as luo, tnAt acnet .s .aagts ~ ,ft. =, ~
crnnc'!l nor ot tns eonc ot tao omea 's o.atSs s
"ouin ~ psoou oatt a.mss s',t., fnrrt*s VI tho
coinage ol tas waru aaa ttaat iegs'att'on wh'eh
looks to na!nenintug tue volume VI intfi'slc
mohey 70 ~ auat n,sasnG " n'n iii 'sts nsat ~
the5 relative ~ ,,naa W. sa'uS so@ns WI
must ask Voef indulgence u os'c' a''o oean''e
statement of
calsfAH EssESI!AL I:s rsAagHGs 1.}'s: <.., ..
IN any sush seesa1atvS measnre, " ~ %s = aee' ~ u
cutter tlie dcoate repFesGSn.ea on D9' suss ~
such ablc dlspItnnts IN Cunafcss nna uc!ole INC
pGuplo anu y thc pFess as 70 tle o1lsns 10
wh!c ihs see.saon ., ay dmG ta.s0 s s1dsea S Sv.'
troll th!s question, even wilsi,1 'ts oWn po.aefs;
nealsst ho hws o. tFaS IT, VI ..V ~ y.
othv1 Hoveran .,,,,o ~ a,1 ,at ,s,n IT,
| pGseHscN aoi u's uPptSt"'f H's} 1851 satSi
scuc the necessity o. ny entering lnto tnell
considerations, h',l ! Wll1ne!y avola cstne1
vague or intricate INQUIRIES. u u oh!y certain
! fLAM AND Fis4criGAL :,ll;sl THAT'S at, -
| Of such legislation that desire TO recofnnea 70
your attention.; IN any LEGISLATION pfoslulng
| fot silver culn1Ret regulating 1s vaiue, aha
tMparttnK 10 It tAe DUALITY u ieEa!'tshoeF, u
secIns to me OF great Importance that Congress-
shuuld not foso sight OF ITS asti"n a. opcrsttne
IN two.fold capacity, and In two dtstlnct dirce.
tons: II The United states uoVs5nmeat ,s Tcse
free fron public debt, it, lcaslntiYe dcs!!na
with thu question ot silver coinage Woulu U
purely snysFes , t.a s y ,@e, anae,
~ Affecting the public gool ~ the proposed
legislation; but the % asi9at 1T. Sifsu"stanSs.
Of the ''atton, w3fh vast public dcnel uIstElo,
utcd very widely among tius own citizens and
held IN great amounts u'so abroad, the mature
of tho vsr.coinagc Incasure ~ affecting thia
relation Ut tho Government to, lhe hoidcrs u
the public debt becomes 9 matter fn any PRO
posed legislation oE tue highest concern. Ing
oblga tt0n Of tl" public faith tra'ltecnda al
quest ionA Of profit or public advantage, other
Wise, aud IT, unqucstionable maintenance "a tht
all r<f fhr h}rRhn nv In