Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1877-12-05

0Ao ~ a. AN 1hA Y |
and the executive authorities of the
several states, | earnestly appeal to secure
by adeqrate appropriate and seasonable
les within tneir borders, these common
and uniform rights of a united people which
love liberty, abhors oppression and ~reyeres
justice. These objects are very dear TO my
heart. | shall continue most earnestly to
strive for their attainment. Cordial co cp-
Grafton of all classes, of all sections OF the
country, and OF both races, Is desired for
this purpose, and with these blessings as
sured, and not otherwise, we may safely
hope to hand down our free institution OF
government unimpaired TO the generation
that will succeed us.
Among The other subjects OF great and
general Importance to the people OF the coun
Try | cannot be mistaken. | think IN regard
ng as pre- eminent the policy aud measures
which are designed 10 secure the restoFn-
zion Of the currency 10 that normal and
healihfui condition in which, by the re
sumption of specie payments, our Internal
rade and foreign may be brought
nto harmony with the system OF excha ges
which is based upon the precious metals a.
he intrinsic money of the world. In The
public Judgment thai this end should be
,'tuEul duo PoSoSa oo CPSNS'i' AIN -
securely AS the resources of the people and
he wisdom of their government can ac-
nmpit h., here is a much greater
degree of unanimity than is found TO con-
cur In the specific measures which Will bring
the country to the desired end, or the ra-
pidity of the steps by which II can be safely
reached. Upon a most anxious and dellb-
| efate examination which | have felt it my
duty TO give the subject, | am but the more
confirmed in the opinion which l expressed
III accepting the nominal ion Tor the presl-
dency, and again upon my inauguration, that
The policy of presumption should be pursued by
every suitable means, and that nc legislation
would be wise that should dlsparage the I'M
portance or retard the attainment OF that re
suit. | have no disposition and certainly
no right to question the sincerity or integri-
ty of opposing opinion, and would nell
lner conceal nor undervalue the consider
able Difficult les and even occasional dis
~tresses which may attend the progress OF the
nation toward this primary condition to It's
general and permanent prosperity. must,
however, adhere to my most earnest con
victlon that any waverlng IN purpose
OF unsteadiness IN methods. SO far IRON
avoiding or reduclng the iDcOnDvlencel nsep
arabic from The transition from an irredeem
tble to a redeemable paper currency, Wouic
pnly ,eud to increased and prolonged dis
turbance 10 values, and unless relieved mus
md in serious disorder, di.honor, and dis
aster in the financial affairs OF The govern
nent aud OF the people. The mischief
which | apprenended aud urgently depre
Gated are ~contined u no class OF the peopi,
indeed, out seem to me most certainly L
threaten the industrious masses, Whetbe
ghelr occupations are OF skilled or coinmUt
labor. To them IT seems to me 1t Is y
prime importance that their labor Shout
De compensated in money which Is III ltsel
liked III eXchangeabie value by being lire
vocably measured bY the laJor necessary o
us roductioR. This permanent quality tt
the money OF the people Is sought for ant
can only be gained by The resumption o
specie payments. The rich, the specula
tive, the operating the money dealing class
es may not always feel the mischiets OF o
may find casual profits in a variable curren-
cy bn. the misfortunes of such a curren
cy TO those who are paid salaries o
wages are inevitable and remedies
Closely connected with this general subjee
Of the resumption of specie payments 10 on
of subordinate but still of grave Importance
! I mean the read juslment of our coinage sys
tenn by the renewal of the silver dollar as a
f element in our specie Currency endowed b
l. legislation with the quality of legal tende
to a greater or less extent. AS there is n
doubt of the power of congress under TIL
| constitution to coin none and regulate th
q value thereof, and as this power covers tn
q whole range of authority applicabl
to the metal, the rated value, and tn
legal-tender quality which shall be adopte
q for the co mage, the considerations who
4 should induce or discourage a paruculs
q measure connected with the coinage belon
e clearly to the province of legislative discr
II ton and of public expediency. Witho'
intruding upon this province of legislatic
Ii in the least, have yet thought the suble
1 of such critical importance In the actu
d condition Of our affairs as to present an O
e casion for the exercise of the duty IL
posed by the constitution on the preside
OF recommending to the considerable
of congress such measures as it shall Jud!
n necessary and expedient. Holding Il
opinion, as | do, that neither the interests
thu government nor of the people of Il
n United States would be promoted by di
paraging silver as one of the two precio
mentals which furnish the coinage of Il
Or world, and that legislation which shall loo
d, to maintaining the volume Of intrins
Ne money to as a full measure of both meta
" as their relative commercial valu
Or will permit would be neither unjust nor i
r expedient, | must ask your indulgence to
brief and definite statement OF certain esse
a tial features in any such legislative measur
a which | feel it my duty to recommend.
as do not propose to enter the debate represel
II, ed on both sides by such able disputants
OF congress, and before the people, and in t
IS press, as to the extent to which the legis
e. ton of any one nation can control this gu
S ton, even within its own borders, again
e the unwritten laws of trade, or the positi
es laws of other governments. The wisdom
n congress in shaping any p%articul
law hat may be presented for 1
~ approval, may wholly supersede the nece
ID. sity of my entering into these conside
u lions, and | willingly avoid either vague
m Intricate inquiries. 1t is only certain pls
ce and practicable traits Of such legislati
ly that | desire to recommend TO your atte
ton. In any legislation providing fol
OF silver coinage, regulating its value and
parting to it a quality of legal tender,
lat seems to me of great importance that CO