Saint Mary's beacon., 1877-12-07
ST MAKY'S BEACON
FRIDAY MORNING. Derrmber 7,h. ls.T.
Il
LE0yARDTOwN, ND.

the PREsrpxST's MEssAGE.-The
President sent hn regular annual mes.
sage TO Congress on Monday last. OF
this document Senator Bsyard is re-
ported 10 have said. "thst it il the 6rst
message for many years which has not
doee violence to the Constitutes and to
English grammar.~-C Certaialys lit u
temperate IN lis tose and. we think.
mainly salutary in its cosnsels. The
President deals frankly with the South.
ern question. His recital Of the good
which has already resulted from hi. pol
icy in this regard Is the beat answer
which he could have made to the at
tacks which that policy has provoked.
when he admits that in Withdrawing
The Federal troops from the work of'up-
holding local governments" in Louisi.
ana and South Carolina he simply per-
formed constitutional duty" and sub
mitsed to a requirement Of our organic
law. he vindicatss the attitude assumed
during the Presidential election Of 1879
BY the Democratic party 50 thoroughly
that il would be unsrac,ous to inquire
whether he meant to do this or not.
This ss it may. be has but carried out
st the South the policy which DEM
ocratic Administration would have
pursued. and II is satisfactory to learn
from himself that he finds il tend
ing steadily to the restoration and
good will and to the complete pro-
lection Of every citizen in the full en-.
joyinent o. every constitutional right"
Passing next TO financial topics. the
President declares himself emphatically
in favor of the restoration OF the cur.
.ency to its healthful and normal condi.
ton by the resumption Of specie pay
ments. Amy wavering in purpose or
un>tcadiness in methods" he declares,
80 Tar from avoiding or reducing the
Inconvenience inseparabie from the
transition from an irredeemable to re-
deemsble paper currency, would only
tend TO increased and prolonged disturb
ance In values, and unless retrieved
must end in serious disorder, dishonor
and disaster in the financial affairs Of
the government and the people" Es-
peeially. the President says, will these
mischiels be felt BY The industrial clas-
scs. The rich, the speculative, The
money dealing classes may not always
feel the mischief Of or may find casual
profit in variable currency, but the
mistortunes of such currency to those
who are paid salaries or wages are inev-
liable and remedies" Closely allied
with this question OF specie resumption
is that ofthe adjustment Of our coinage
system by the reconciliation of the
silver dollar, clothed BY legislation with
the quality Of legal tender to great
er or less extent. This, the Presiden.
reasons. would property be matter OF
legislative discretion and expediency
solely, il it were not complicated by
considerations growing out Of the exis-
tenee of the public debt and the obIiga-
tions Of national honor. The oblisa-
tion Of the public faith" says the Pres
ident. "transcends all questions Of pro-
ft or public advantage otherwise."-
The bonds OF the United States are held
at home and abroad. hli the bonds is.
sued since February IL. 1878, when
gold became the only unlimited metallic
legal-tcnder. are justly PAYABLE in gold
or its equivalent IN value. Since that
date the only dollar in coin that could
be or was received BY The government
in exchange for bonds was the gold dol
lar. To require the holders Of these
bonds to accept in payment any dollar
Of less commercial value would be re-
garded by them as a reputation Of part
Of the debt. The bonds issued brfor,
1878 were issued at time when the
gold dollar was the only coin in circula-
tion or contemplated by either the gov
eminent or the holders OF the bonds As
the coin in which they were to be paid.
The President further refers to the ad-
vantage derived by the country from a
strict maintenance OF the public faith.
in enabling il TO fund he publ. deb,
at lower rate OF interest. He there
fore recommends that in any legislation
providing for a silver coinage and i'm
parting TO i, the quality of lesal-ten-
der an exception be made in favor OF
the public debt heretofore issued and
now outstanding. and which shall
not be paid. principal or interest, in
any CON OF less commercial value than
the present gold coin of the country.
The President does not waver in his
profession of faith an the subiec, Of civil
service reform. Unfortunately. his acts
have not been as we'll calculated 10 for
tfy his profession of faith in re ,ard 10
that issue as in regard TO the p,licv of
raeihcation and justice at the South.
OF the minor subjects discussed in the