The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1877-12-13
TI,e Presialenl,s AIossage..

The Presidents Message.
We publish below that portion Of
the Presidents Message which refers
to the Currency Question, As will
be seen, he wishes to utilize both sill
yer and gold but he is not willing t.
declare by law that ninety cents
worth silver is equal to a dollars
worth of gold. The following IRE his
views on the subject:
Among the other subjects Of great
and general Importance tothe people
of this country, l cannot be mista
ken, | think, in regardingas pre.em
inent the policy and measures which
are designed to secure the restoration
of the currency to that normal and
healthful condition in which, by the
resumption of specie-payments, oul
internal trade and foreign commerce
may be brought into harmony with
the system Of exchanges which il
based upon the precious metals as the
intrinsic money of the world. In
the public Judgment that this end
should be sought and comprised as
speedily and securely as the resources
of the people and the wisdom of their
Government can accomplish, there is
a much greater degree of unanimity
than is found to concur in the spe,
cific measures which will bring the
country to this desired end, or the
apidity of the steps by which it can
be safely reached.
Upon the most anxious and dclib.
crate examination which | have felt
it my duty to give to the subject, |
am but the more confirmed in the
opinion which expressed in accept
ing the nomination for the presidency
and again upon my Inauguration,
that the policy of resumption should
be pursued by every suitable means,
and that no legislation would be wise
that should disparage the Importance
or retard the attainment Of that re.
suit. have no disposition, and GER
tainly no right, to question the sin
cerity or the intelligence of opposing
opinions, and would neither conceal
or undervalue the considerable diff
cultics, and even occasional distresses,
which may attend the progress Of
the nations toward this primary con-
dition to its general and permanent
prosperity. | must, however, adhere
to my most earnest conviction that
any wavering in purpose, or INSTEAD
mess in methods, so far from avoid
ing or reducing the inconvenience
inseparable from the transition from
an ifredeemablc to a redeemable pa
per currency would only tend to in
crease and prolong disturbance in
values, and, unless retrieved, must
end in serious disorder, dishonor, and
disaster in the financial affairs of the
Government and the people. The
mischiefs which | apprehend, and
earnestly depreCate, are confined to
no class of the people indeed, but
seem to me most certainly to threat
en- the industrious masses, whether
their occupations are Of skill or com
mon labor. To them, it seems to me,
it is of prime importance that their
labor should be compensated in mon.
ey which is itself fixed in exchange
able value by being irrevocably
measured by the labor necessary to
its production. This permanent
quality Of the money Of tho people is
sought for, and can only be gained by
the resumption of specie. payments,
The rich, the speculative, the opera
tive, classes, may not always feel the
mischiefs Of, or may find casual pro
fits in, variable currency, but the
misfortunes Of such currency to
those who are paid salaries or wages
are inevitable and remediless.
Closely connected with this gener'
al subject of the resumption of spo
cie.payments, is one Of subordinate
but still of grave Importance
mean the reimbursement Of our coin
age system, by the renewal of the
silver dollar as an an element in oul
specie currency endowed by legisla
ton with the quality Of legal'tendel
to n greater or less extent.
As there is no doubt of the power
of Congress, under the Constitution
TO coin money and regulate the val
ue there, and us this power covers
the whole range of authority appli
cable to metal, the rated value ant
the lcgal-tender quality which shall
be adopted for the coinage, tho con
siderations which should induce OF
discourage u particular measure con
nectcd with the coinage belongs
clearly to the province Of Legislative
discretion and Of public oxpedioncy
Without intruding upon this prov
inco of Legislation in the least,
have yet thought the subject Of sucl
critical importance in thGactual con
dition of our affairs as to present NJ
occasion for tho exercise Of the duty
imposed by the Constitution on TIN
President Of recommending to tht
consideration of Congress such meas
ures MS it shall judge necessary ant
oXpodient.
Holding tho opinion, as | do, tina