The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1877-12-03


advantageously refunding the indebted
ness. Whether the debt is ultimately
paid in gold or silver, coin 10
OF but little moment compared with the Possi-
BILE reduction Of interest one-th1rd by refund
ing it at such re uced rate. Ii the Y Uhlteu
States had unQuestioned right to pay its bonds
in silver coin the little benefit from that pro-
Injurious effect Of such payment III
made, as proposed, against honest
convictions of the public creditors. All bonds
that have been issued since February II, 1873,
when gold became the legal tender metallic
currency OF the country, are justly payable IN
gold coin or in coin of equal value. During
the time Of these Issues the only dollar that
could be or was received by the Government III
exchange for bonds was the gold dollar. 10
require pubic creditor to take in repayment
any dollar of less commercial value would be
regarded by them as reppliation OF the lull
obi legation assumed. The bonds issued PRIOR
| to 1873 were Issued at time when the
! gold dollar was the only coin in circulation or
contemplated by either the Government or the
holders OF the bonds as the coin IN which they
| were to be paid. 1t is far better TO pay these
bonds in that coin than to seem to take aIyan-
| JaSe OF the unfortunate fall IN SILVER bullion
| to pay in new issue Of silver coin
thus made so much less valuable.
| The power Of the United States to coin money
| and regulate the value thereof ought never to
| be exercised for tho purpose OF enabling the
| Government to spay iUs obligations In a coin OF
| less value than that contemplated by parties
ONAS A~SS%NN>3
attempt would involve violation
of the pubic faith and injure the
pubic credit. He believes that adherence
| to the act OF March, 1859, providing for the
payment Of the bonded debt in coin, will cause
| a rapid reduction Of interest on the National
| debt to an amount not exceeding twenty mill
ions per annum, and effect saving to the U nj
ted States OF over ,0J0,0J0 before the bonds
can be fully pad. recommend to Congress
| that in any legislation providing for silver
coinage and inpartlng to it the quality OF a le-
gal tender there be impressed firm provision
eXemptiug the public debt heretofore issued
and now outstanding from payment either Of
principal or interest in such silver coin, or
rather in any coinage OF less commercial value
The civil Sc vice If the country has attracted
much attention. Eoth parties have
declared for reform. The measures advo-
Gated should be followed by earnest
and prompt action on the part Of
the Legislative and executive department Of
the Government. My purpose is TO return to
the system established BY the fundamental
law with the heartest cooperation OF the Sem
| ate and House OF Representatives and advo-
cate the making Of all nominations, as nearly
| as possible, impersonal, ana IN those offices in
which special training Is OF value, rule to the
tenure OF Office should obtain. shall do all
in my power to make thorough COM
petency efficiency anu character the
decisive test in these matters. L ask that a
suitable appropriation be made to enable the
C!vil Service Commission to continue It's labor.
continued to maintain peaceful relations with
foreign countries. The effects Of the IurRO-
Russian war is almost entirely European.
The treaties between tho two countries nave
been strictly com piled with. lie refers briefly TO
the Paris Exhibition of 1878, and believes that
the acceptance by the Uuted states OF the in
vitation 10 partcipat will stimulate interna-
tional commerce and emigration. and promote
friendship bGtTce the two countries.
Regarding the Extradltinn TreatY hetwoep
Great Britain and the UniLed States, ard ques-
tions at ISSUE he says it is probable that all
disagreements will III due time be settled, and,
if necessary, more explicit declarations Will be
made III the new treaty.
Referring q to The Mexican question, he says the
reco. milton Of Diaz has been deferred on ac-
count of the Rio Grande border troubles. He,
however, has not, nor does he anticipate, any
interruption OF the friendly relations with
Mexico. He, however, ietls 1t necessary to
call the attention OF Congress to the troubles
on the Mexican border that the lives and prop
erty of our citizens may be equally protected
and peace preserved.
On the subject Of the Cuban struggle he says
it is attended with incidents affecting
| American interests He refers to the seizure
of vessels and of arrests Of American citizens.
1.-The Spanish Government has offered rtpara-
tion for all these offenses. but they are never
theless greatly to be deprecated. He refers to
the awards received from Venezuela under
treaty Of 1850, anu says the fund can not be
distributed antll the pending accusations Of
fraud have been Ssettied The estimated
revenue for the next fiscal year
OF strictly limited appropriations, inc4u ing
the requisite sum for the maintenance Of the
Sinking Fund, while the aggregate of taxes
should not be Increased. Amendments ought
to be made to the revenue taxes that would,
| without diminishing the revenue release the
people from unnecessary burdens. A tax of
| 10 cents pound on tea and
revenue of sI2, ,oJO 900, and thus enable Congress
to repeal multitude Of annoying taxes. | in
vite the attention OF Congress TO the recon-
mendatlons submitted to the Secretary of
the Treasury by the Commission appointed to
examine the collection of custom duties at the
port OF New York. The public faith with all
| creditors has been preserved and the public
credit has continuously advanced. Our public
securities are regarded with the highest favor
| The progress Of refunding the pub
lie debt has been rapid. IL is matter OF
great moment that our own shipping interests
should recsive to the utmost practical extent
| the benefit of our commerce with our bonds.
| The report of the Secretary Of Var SHOWS that
| the army has been actively employed, and rem
dered very important service ia the suppress
| sion of the Indian h)stilitles. regret TO say
| that laWlesS incursions into our country from
the Mexican side have been too frequent.
Orders wee given Eer.the utmost vigilance, on
| the part OF our troops, for the suppression OF
| these raiders and the punishment OF the guilty
| parties as well as the rec2pture OF property
stolen. The Mexican authorities were invited
| to aid in the suppression VI these marauders.
This policy has had the effect to somewhat
check these depredations. With an Increased
/ force and the establishment Of several addi-
| tional posts on the Rio Grande. peace may be
preserved, lie concurs with the Secretary Of
| War in recommending that authority
be given TO recruit all companies
Of infantry to at least 30 men. and all batteries
| OF artillery to at least IS men, with the power
in emergencies to increase the former to 100 and
| the latter to la2 men. He recommends a COM
| plste revision Of the army regulations. Touch
| ing the Indian question, no says We are not at
peace with all Indian trlbos, and it will be the
object Of his earnest eDdeavors to preserve that
pease by u just and humane policy. Many, il
not most, Of our Indian wArs resulted from
broken promises and aets Of injustice upon our
| part, anu their advance has been allow because
| Of the treatment received.
He recommends that the suggestions OF the
| SEQ etary OF the Interior tor the preservation
OF forests be embodied in law, and to enable
| the people OF certain States aud Territories to
purchase timber from the public lands in To-
| gal manner, and that such u law bs passed
with ut delay.
He says the Secretarys sug question OF system
of leasehold tenure 10 worthy OF consideration
as it would make the public lands \ source OF
profit to the Government and at the same time
legalizs the business OF cattle raising now
carried on upon them.
BThe agricultural interest Of the country has
greatly advanced during the year, US will ue
seen by the report OF the Com missioner Of Ag-
riculture. The subject for further improving
| the City of w Washington Is laid before you with
a L,,,p haf hn fau II