Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1877-12-07

u ~ wv ~ NNaA INV
great merit Of the Acs Of March, 1850, In
.. Strengthening public credit, that II re.
moved all doubt aa 10 the purpose Of the
: United states 10 pay their bonded debt in
coin; and that Act was accepted as q
| pledge Of public faith. The Government
! has derived great benefit from IL In the
-, progress thus far made 10 rounding the
! public debt at low rates OF interest. An
adherence 70 the wise and just policy Of an
J exact observation Of ihs public faith will
enable the Government TO rapidly reduce
the burden Of interest on the National
debt 10 an amount exceeding $40, 0O0,O 200
per annum, and effect an aggregate saving
to the United states Of n ore than $40, O0O,-
, 100 before the bonds can be aid.
In adopting 3 new silver c3lnage TO the
ordinary use Of currency In every day
transactions Of life, and prescribing the
quality OF legal tender 10 be assigned TO Il,
a consideration Of the frsI Importance
should be 10 so adjust the ratio
between the silver ana the gold
coin which now constitutes our
specie currency, as TO accomplish the
desired end, and keeping up the volume OF
two precious metals as our intrinsic mon.
ey. 1t 10 a mixed question for reasoning
aud historical experience to determine
how far and by what methods q practical
equilibrium can be maintained which will
keep both metals In circulation In their
appropriate spheres Of common use. An
absolute equality OF commercial YRlue,
free from fluctuations, is hardly a~ttaina-
Bile, and without II an unlimited legal
tender for private transactIOns assigned
TO both metals, would tend TO drive out Of
circulation tho dearer coinage and disap-
point the principal Oh. ect proposed by the
Two conditions Of q near approach to
equality Of commercial value OF coins Of
the same denomination, and OF limitation
Of the amounts for which The silver coin.
age Is to be legal tender, are essential to
maintaining both 10 circulation. II
the conditions can be observed,
the issue from the mint Of ell
YER dollars would afford material
assistance - tn. community In the tTasl.
ton to redeena able paper, and would IA
cilitate the resumption Of specie pay ment
and its permanent establishment. With.
out these conditions, | fear only mislOr.
tune would low from The coinage OF silver
dOllars with the quality oil unlimited legal
tender, even 10 private trade. Any ex.
pectations oftemporary ease from an issue
Of silver coinage 10 pass as legal tender ut
q rate abTye its commercial value,
IL, l am persuaded, q delusion. Nor can !
think that there 10 any distinction be.
tween an original Of silver at q nominal
value materially above its commercial
value, aud the restoration Of the silver
dollar at the rate which was, but has
ceased to be its commercial value. Ger.
ta!nly the Issue Of our gold, reduced in
weight below legal tender value, would
not be any the less q present debat ement
Of coinage by reason OF tie equaling or
even exceeding In weight q gold coinage
which at some pas. time had
been commercially equal to the legal
tender value assigned " the new Issue. In
recommending that the regulation Of any
silver coinage which may d. authorized
by Congress should observe these condi-
lions or commercial value and limited lc.
gal tender, l AN governed by the feeling
that every possible increase should be
given TO the value Of metallic money
which can be kept id circulation, and
I thereby every possible ali afforded TO the
people In the procesR OF resumIng specie
payments. II is because Of my
4 trm conviction that disregard
l OF these conditions would Illustrate
the good results which are desired from
q the proposed coinage, and en- barraas with
a new elements Of c infusion and uncertain
a " the business ofthe country, that i urge
upon -FOUR attention these considerations.
y / respectfully recommend that 10 any leg.
, islatiOn providing for q silver cUinage and
imparting TO II the quality OF legal tender,
= there be Impressed upon the measure a
!, firm provision exempting the public debt
heretofore Issued and now outstanding
from payment, either Of principal or inter-
est, In any coinage OF less commercial val.
, ne than the present gold coinage Of the
country.
. CIVIL SERVICE.
!. The organization OF the civil service Of
the country has Tor anumber OF years at
h I acted mUTe and more VI the public atten-
ton, So general has become the opinion
o that the methods OF admission to It, and
the conditions operating in II are un.
= sound, that both the great political parties
l. have agreed, In the most explicit declara.
Q lions, VI the necessity Of reform, and In
o the most emphatic deman - for II. | have
fully believed these decorations and de.
Y mands to be the expression oil a sincere
conviction Of th4 iGtelligeut mass,s Of the
people upon the subject, aud that they
r should be recognized and ~. loYed BY avn
y est and prompt act on IN the part Of the
h legislative and kAeculi.c departing bts Of
the Gov rnment. Ia Pursuance Of the
r purpose indicated, before my accession To
/. office, | en%deavOred 70 have my own
il views distinctly understood, and upon my
Inauguration my accord with the public
r opinion was stated In terms believed to be
o plain and unambiguous. Ny experience
q in the Executive duties has strongly con.
irmed my belief In tina great advantage
10 the country would ma In 0bBerNlng strict.
d ly the plan Of the Constitution which i'm.
II poses upon the Executive the solo duty
10 and responsibility Of the selection OF these
a Federal officers who, by law, are appoint
x ed, not elected, aud Whicn, In
ID like manner, assign ~ the Senate the
Of complete right TO ADVISE and consent TO or
II reject the nominations 80 made, whilst the
10 House OF Representatives stands as the
I, public censor OF the performance Of official
81 duties, with the p%rerogaIiye OF investiga'
10 ton aud prosecution 10 all cases Of derc-
{, LECTION. The blemishes and imperfC ctions
10 In the civil service may, as ! think, be
O. traced In most cases ~ u practical confu-
II sion Of the duties assigned 10 the several
9. departments OF the Government. My puT.
20 pose In this respect has been 10 return n
Of the system established by the fun.
~ damental law, and TO do this with
n. the heartiest cooperation and most
Il. cordial understanding with the Senate
@. and the House OF Representatives. The
IL practical difficulties In the selection o. n u
ID nerous officers for the posts Of widely Va.
" Tyiug responsibilities and duties, are &C.
1t knOwledged " be very great; no system
" can be expected 10 secure absolute free
IL dom from mistakes, and the beginning Of
n. any attempted change Of custom 10 likely
Ia u be more embarrassed in this Tesoect
than 10 any subsequent period. II Is here
that the Constitution seems to me TO prove
;, It's claim to the great wisdom accorded to IT.